Which of the following is a key component of logistics plans?

Identifying supply and demand requirements is crucial in logistics planning as it ensures that the necessary materials and products are available to meet the anticipated needs of customers and operations. This component allows logistics planners to forecast inventory levels, manage resources efficiently, and maintain a balance between what is produced and what is needed in the market. By understanding both supply and demand, planners can avoid stockouts or overstock situations, thus optimizing operations and reducing costs.

The other aspects mentioned, such as identifying target markets, assessing competitor pricing, and developing customer service protocols, are certainly important in the broader context of business strategy and operations. However, they do not focus specifically on the logistics aspect of ensuring that goods are available at the right time and place, which is the core of logistics planning.