Final answer:
In order to determine the optimal number of sweaters to order for Big10Sweaters.com, you can use forecasting techniques and implement an inventory control system.
Step-by-step explanation:
In order to determine the optimal number of sweaters to order for Big10Sweaters.com, a new company selling premium logo sweaters for Big Ten colleges, you need to consider various factors such as demand, production capacity, and inventory management.
One method to determine the optimal number is through forecasting techniques, which include analyzing historical sales data, market trends, and customer preferences. By using statistical models like regression analysis or time series forecasting, you can make predictions about future demand and adjust your order quantity accordingly.
Another approach is to implement an inventory control system, such as Economic Order Quantity (EOQ), which takes into account factors like ordering costs, holding costs, and replenishment lead time. This method helps you determine the ideal order quantity that minimizes costs while ensuring you have enough sweaters in stock.