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What is the difference between Forecast and Live forecast?

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The forecast is your monthly target and expectation before entering a new month. This should not be changed during the month.

Live forecast is a rolling forecast that is updated regularly throughout the month, depending on your latest expectations due to changes in the market, new reservations, cancellations, etc.

Daily live forecast is also updated for the coming two-three months (or according to your company policy). When you get to the end of the month, the Live forecast for the current month is submitted to forecast, and will be the respective monthly targets for the next month and onward.

It is not expected to submit a daily forecast for the 4th month and onward, but a general expected total amount should be submitted. A credible Live forecast is crucial for production planning as this forms the basis for expected daily activities and is reflected in the SMART forecast (the yellow line) in the various cockpits.