Explain Forecasting and the Economic Environment

Identify changes in forecasting methodologies and approaches (for practices such as contracting, advanced payments, outsourcing to fix a price, continuous and fixed budgeting, simulations, or regression analysis) that have been influenced by current economic conditions.

Has the current economic environment changed an organization's forecasting approaches to logistics within the supply chain?

Describe at least one new approach that is a specific result of the changes in the current economic environment. How is this change unique to these times? Will these changes help to maintain your organization's competitive edge?

Identify some of the best practices that leading companies are using in the area of logistics forecasting.