From a purchasing standpoint, when comparing an item with low complexity/importance with one with a high complexity/ importance item you would generally change your approach in what way? Choose one answer.   For high complexity/importance, focus forecast on the near term For high complexity/importance, include senior decision makers in key decisions For low complexity/importance, build deep collaboration 1 and 2 only 1 and 2 and 3

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.