In today's global economy, supply chains include numerous partners, with services and sourcing managed across several organizations and in jurisdictions across the world. Corporations are increasing their use of third-party suppliers in the execution of key strategic imperatives and these third-party operations are becoming larger and more complicated as time goes on. Businesses should upgrade their risk management framework if they don't want to miss potential profits and saved costs.
The process of economic forecasting is at heart the process of attempting to predict the future of an economy. Generally this refers to the economy of a country, but it may also refer to municipalities within a state.