2) A large SME employing around 600 people, spread over twenty responsibility centres, used to produce only budgets for forecasting purposes: every year in the autumn, each responsibility centre manager had to draw up a budget proposal with management control and present it to his or her superiors. From now on, the general management has decided that all managers should also present in the autumn, in addition to their monthly forecasts for N+1, less detailed forecasts for N+2 and N+3. What is this type of forecasting approach called? What advantages and disadvantages does it have compared to a process in which a medium-term forecast is made several months before the budgets?