Write the steps involved in the aggregate planning process in the order of execution. (30–60 words)

The aggregate planning process generally involves the following steps:

1. Determine Capacity Needs: Assess production capacity to meet projected demand.
2. Forecast Demand: Estimate future product demand using historical data.
3. Develop Pricing Strategies: Adjust pricing based on inventory levels and market conditions.
4. Identify Inventory Levels: Decide on desired inventory levels to support production.
5. Create Aggregate Plan: Formulate a plan that aligns capacity with demand while minimizing costs.
6. Monitor and Adjust Plan: Regularly review the plan and make adjustments based on real-time data and feedback.

This structured approach ensures that production aligns with market demand while optimizing resource utilization and cost efficiency.