Planning & Forecasting
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 planning and 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 planning/forecasting, explains why it is important in supporting supplier diversity and recommends forecasting strategies that help both agencies and small and diverse businesses.