Which of the following is a characteristic of the MPS?

The Master Production Schedule (MPS) is indeed a commitment between production and marketing, serving as a crucial tool for aligning production plans with market demand. This characteristic is central to its function, as the MPS outlines what products need to be produced, in what quantities, and by when, based on anticipated customer demand. By establishing this commitment, both production and marketing teams can work collaboratively to ensure that supply meets expected demand, helping to minimize stockouts and excess inventory.

In the context of the other options, while the MPS impacts forecasting and can be related to families of products, its primary role is to provide a clear schedule that ensures both production output and marketing strategies are aligned. Furthermore, the statement regarding order promising refers to the ability to accurately commit to customer orders based on available production capacity and schedules, which is indeed something the MPS is designed to facilitate rather than inhibit. Thus, the correct understanding of the MPS as a commitment highlights its importance in bridging the gap between production capabilities and market needs.