Final answer:
Sales forecasts can be both short-range and long-range in nature, depending on various factors.
Step-by-step explanation:
False. Sales forecasts can be both short-range and long-range in nature. Short-range sales forecasts typically cover a period of a few months to a year, while long-range sales forecasts cover a longer time frame, often three to five years or more. The length of the forecast depends on the industry, market conditions, and the purpose of the forecast.
For example, in the retail industry, short-range sales forecasts might be used to plan inventory levels for the upcoming holiday season, while long-range sales forecasts could be used to guide strategic decisions and long-term planning.
Overall, the length of sales forecasts can vary depending on various factors, and it is important to consider the specific context and purpose of the forecast.