In this informative video on the Role of Inventory for our Operations and Revenue Analytics course, we explore the critical functions that inventory serves in business operations. We’ll discuss Cycle Inventory and the various costs involved in inventory management, including holding and ordering costs. The video will also cover the concept of Economic Order Quantity (EOQ), a vital formula for optimizing order sizes. Additionally, we’ll delve into the uncertainties that can impact inventory levels and how to effectively use Safety Stock to mitigate these risks.