Steps in Demand Forecasting

Demand Forecasting Demand forecasting is an important tool for the business to plan and execute its operations. By demand forecasting, we mean that the process of foreseeing the possible demand for the products or services that the business can offer. It is to be done systematically and as a step by step process. The important steps involved in forecasting process are:     Steps in Demand Forecasting Understand the objective of Forecasting Integrate demand planning and forecasting throughout the supply chain Identify the major factors that influence the demand forecast…

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Jawaharlal Nehru Port Trust-Backbone of Indian Logistics

Jawaharlal Nehru Port Trust For the last many decades, Jawaharlal Nehru Port Trust has been serving as the backbone of Indian Logistics Industry. The peninsular coastline of India covers a stretch of about 5560 km which are strategically located on the crucial East-West trade route that links Europe and the Far East. Mumbai port is one of the oldest port of India, was proving to be inadequate in meeting the cargo handling requirements. Shallowness of the channel, congestion of roads and railways through the Mumbai city, labour problems and over-manning, were ailing the…

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IS there any role for women in Logistics?

“There are things known and there are things unknown, and in between are the doors of perception.” – Aldous Huxley women in Logistics The logistics and supply chain industry is one sector that suffers from poor perceptions of its career opportunities. These perceptions have led to a debate around skill gaps and lack of gender diversity. It is hard to escape the primary idea of lifting and loading goods in logistics industry. But, this is one sector which cannot be overlooked as every industry and business in the world- retail,…

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Air Cargo Logistics in India- Problems and Challenges

Air Cargo Logistics Air Cargo Logistics play a vital role in the economic development of a nation. The domestic and international air cargo forecast for India is expected to grow by eight to ten times the present level in the next twenty years. The demand for air cargo transportation has increased significantly over the last few years, because product life cycles have shortened and demand for rapid delivery has increased. The changes in the business models such as Just-in-Time Manufacturing and Global out sourcing models have contributed to the rapid…

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