Planning and Scheduling refers to a process by which raw materials and production capacity are optimally allocated to meet demand, aiming to maximize efficiency of the operation and reduce costs.  Companies can use backward and forward scheduling to allocate plant and machinery resources, plan human resources, plan production processes, and purchase materials. 

The benefits of production scheduling include:

• Process change-over reduction
• Inventory reduction, leveling
• Reduced scheduling effort
• Increased production efficiency
• Labor load leveling
• Accurate delivery date quotes
• Real time information