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Case StudyIntroductionForecasting is an integral part of a business operation in that it guides how it can manage its inventory. Having a proper understanding of the supply chain of the company is essential in enabling the firm to meet the expectations of its customers effectively. It also helps the company to establish the challenges which are experienced within in a bid to attain the necessary corrective measures which can be applied. It is imperative to assess the case of L.L. Bean to determine how it uses forecasting in its operations. Qn. 1The company uses the demand data of the past to establish the number of units to stock by determining the amount of the items which were sold off. The action, therefore, enables it to avoid overstocking or understocking. Overstocking is inappropriat...
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