Use of the Amazon Forecast Tool in Demand Forecasts for the Logistics sector
DOI:
https://doi.org/10.5281/zenodo.13333919Keywords:
Forecast, Demand, AmazonAbstract
The Amazon Forecast is a demand forecasting service within the Amazon Web Services (AWS) system of the Amazon company. It incorporates various algorithms that analyze historical data to predict future demand with greater accuracy, establishing upper and lower bounds for the forecast. Historical export data of anhydrous ethanol, used in gasoline preparation, and hydrated ethanol, a ready-to-use fuel in automobiles, from 2012 to 2022 were integrated into the Amazon Forecast. The predictor model was trained, and the forecast generated for January to September 2023 was compared with the actual export data for the same period. It was observed that, despite some occurrences of error, the forecast obtained through Amazon Forecast was satisfactory, indicating that the tool is well-suited for demand planning processes. It can support businesses by providing greater adaptability to the challenges of demand volatility and disruptions in the supply chain.
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