The Activity-based Costing (ABC) model is one of the many approaches to estimate logistics costs. The term was coined in the late 1980s by Robert Cooper and Robert Kaplan in their article titled, “Measure Costs Right: Make the Right Decisions.”
Quantitative forecasting techniques refers to the approaches of forecasting used for examining the future trends by analysing the historical data.
Demand forecasting is defined as an approach used for analyzing future demand in comparison to the previous ones. The purpose of demand forecasting is to apply future planning and decision in the domain of finance, logistics, operation and sales.