Forecasting future spending and making this information public is important so businesses can be prepared to respond competitively to procurement opportunities. This is particularly important for small and diverse businesses that may have difficulty responding to solicitations without sufficient notice. Regular forecasting help organizations build outreach plans, which can lengthen the amount of time bid opportunities are available. This helps to ensure that every purchase is a planned purchase that can benefit small and diverse businesses. You can use the tools below to help your agency forecast future spending.
Introduces forecasting, explains why it is important in supporting supplier diversity and recommends forecasting strategies that help both agencies and small and diverse businesses.
Forecasting Reports Template - Excel
Use this template to collect anticipated procurement efforts that will require a competitive solicitation. Guidance for what to include in the template is in the Field Information tab.