Which of the Following Statements Accurately Describe Planning Time Horizons

question 151

Multiple Choice

Which of the following statements accurately describe planning time horizons?

• A) Short-range plans cover one year or less into the future.
• B) Intermediate-range plans cover a time frame of one to two years into the future.
• C) Long-range plans cover a time frame of three or more years into the future.
• D) all of the above
• E) none of the above

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Definitions:

Flexible Manufacturing

A production system capable of adjusting its operations and processes to adapt to changes or variances in product type and volume.

Craft Shop Technology

Techniques and processes used in small-scale production environments, where goods are handcrafted or produced in limited quantities.

Customer Specifications

Detailed descriptions provided by customers outlining the specific requirements, features, or standards that a product or service must meet.

Small-Batch

Production processes characterized by the production of small quantities of goods tailored to specific customer demands or to test new markets.