Material planning is the process of figuring out what and how much is needed in order to produce goods within specified timeframes, and ensuring the timely delivery of those materials 

Business process 

Material planning is important for businesses because it helps them figure out what and how much they need to make products on time. This ensures they have the right materials when they need them, preventing delays in production. It also helps control costs, avoid overstocking or running out of materials, and keeps customers happy by delivering products on schedule. In simple terms, material planning keeps everything running smoothly and efficiently in a business.