A local manufacturing firm which produces engineer to order and assemble to rder high value products for the pharmaceutical industry has recently been equested by its owner to provide a proposal on the benefits of a predictive erformance model and methodology from a workshop that you have recently ompleted. You are requested to produce the following report: 1. Review the current state of the practice of performance reporting within firms. 2. Suggest a suite of appropriate key performance measures. 3. Explain the benefits of an Ex-Ante or Predictive Performance approach to enterprise performance management. 4. Recommend a methodology on how this type of Enterprise Performance

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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.