_____ forecasts are necessary to plan for facility expansion.
A) Long-range
B) Intermediate-range
C) Short-range
D) Demand planning

Question

Quizplus · Accepted Answer

Long-range forecasts are necessary for planning for facility expansion as they cover timeframes of 3-10 years or more and provide an overview of projected demand and growth. Intermediate-range forecasts (1-3 years) and short-range forecasts (up to 1 year) are more focused on short-term operational planning and scheduling. Demand planning is a process that involves forecasting demand for products or services and developing strategies to meet that demand. While demand planning can inform facility expansion decisions, it is not specifically focused on facility expansion forecasting.

_____ Forecasts Are Necessary to Plan for Facility Expansion