____ forecasts are needed 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 used to plan for facility expansion as they cover a time period of typically more than three years. They are useful for creating strategic plans for the future and determining the need for facility expansion. Intermediate-range forecasts cover a time period of one to three years and are useful for production planning and resource allocation. Short-range forecasts cover a period of less than one year and are useful for operational planning and scheduling. Demand planning is a process of forecasting customer demand for a product or service.

____ Forecasts Are Needed to Plan for Facility Expansion