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to determine the amount of supply / storage needed based on forecasted demand

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interest rates impact the consumer confidence in the economy.

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Sources of demands for the products in logistical perspective

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Sources of demands for the products in logistical perspective

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whether the company can ensure the product will reach the final consumer and if it is within business capacity in the short or long run

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it will demonstrate how consumers would feel about the current state of the economy.

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(predict any future changes of the market to ensure it continues to grow in the long-term)

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Forecasting social media trends helps achieve marketing objectives as a business can get ahead/on top of it rather than be lagging far behind

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Things like location and obviously climate can affect how supply is handled. For example, natural disasters can put a supply chain to halt

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How confident people feel about the economy and spending money

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The relationship between countries and policies can effect the economy which in turn effects business forecasting.

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Expected revenue to help with strategic decision making

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(Will consumers buy the product)

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It is important because there may be sudden shifts in demand or supply which depend on external factors

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Important when making purchases with foreign businesses, as well as knowing the value of your products/services when comparing it with others

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release of a new product can be accelerated or depreciated based on the timing and the amount of demand for that good.

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You have to forecast expenses and revenue to be able to deem something viable

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(Manufacturing amount and what to R&D)

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(This would determine the purchasing power of consumers)

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Trends can be behavioural, cultural, seasonal and environmental

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Estimate how well the company will perform in comparison to competition