Erythropoiesis requires several key factors: stimulating factors like hypoxia and erythropoietin which promote the production of red blood cells from stem cells; maturation factors that guide the development of red blood cells; and factors for hemoglobin formation. Erythropoietin is stimulated by hypoxia and acts on bone marrow to produce proerythroblasts which mature through several stages into reticulocytes that are then released into the bloodstream. Certain vitamins are also necessary to prevent anemia from vitamin deficiencies that can impact erythropoiesis.