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Learning Goal: I’m working on a case studies multi-part question and need an explanation and answer to help me learn.Please review the attached L.L. Bean, Inc.: Item Forecasting and Inventory Management Case StudyAssignment: Overview of case study and answer the following questions:1. How does L.L. Bean use past data and specific item forecast to decide how many items to stock?2. What item costs and revenues are relevant to the decision of how many units of that item to stock?3. What information should Scott Sklar have available to help him arrive at a demand forecast for a particular style of men’s shirt that is new catalog item?4. How would you address Mark Fasold’s concern that the number of items purchased usually exceeds the number forecast?5. What should L.L.Bean do to improve its forecasting process?
Requirements: Answer all questions (3 pages)
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