What are the types of forecasts in logistics?

In logistics, there are several types of forecasts that are used to predict future demand, supply, and other factors in order to make informed decisions. One type of forecast is the demand forecast, which predicts the future demand for goods or services based on historical data, market trends, and other relevant factors. This helps logistics planners to determine the volume of goods to be shipped or stored, as well as to optimize inventory levels. Another type of forecast is the supply forecast, which predicts the availability of goods and services based on factors such as production capacity, lead times, and supplier performance. This helps in ensuring that there is sufficient supply to meet the projected demand. Additionally, logistics forecasts may also include transportation forecasts, which predict factors such as shipping costs, transit times, and delivery schedules, in order to optimize transportation logistics. Overall, these different types of forecasts play a crucial role in logistics planning and decision-making.

This mind map was published on 17 September 2023 and has been viewed 87 times.