QUESTION $3$

Being able to closely match demand and supply involves having information about buying patterns a purpose that is

fulfilled by forecasting. Forecasting is considered as the art and science of predicting future events $($Heizer and Render,$2014$:$140).$

$3\mathrm{.}1$ Distinguish between qualitative and quantitative forecasting.

$3\mathrm{.}2$ Critically discuss the characteristics of forecasts and their strategic importance.