Forecasting Model Fro Dry Bulk Freight

Forecasting model for dry bulk sea freight Facilitating Lantmännen to make better procurement decisions Frans Kaltea Joel Odland Division of Engineering Logistics Faculty of Engineering Box 118 SE 221 00 Lund, Sweden This article is a summary of a master thesis written at the Division of Engineering Logistics, Department of Industrial Management and Logistics, Faculty of Engineering, Lund university. The master thesis was initiated as a result of an identified need of increased understanding of the sea freight market within Lantmännen’s sea freight procurement organization. The main purpose of the thesis was to develop a price prediction model. The model should provide Lantmännen with information that facilitates better decision making when procuring sea freight services. A secondary purpose was to develop a process for the development of price indices and forecasting models. This article presents a background of the problem and describes how the model was created.

Introduction

Lantmännen is one of Nordic’s largest companies within food, energy, machinery and agriculture. The company is engaged in business activities throughout the whole value chain: “from field to fork”. For Lantmännen, sea freight is

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