The three most common methods are min-max, economic order quantity (EOQ), and ABC analysis.MIN-MAX is the most simple of these three Inventory Management methods. It requires that you track your cost of carrying inventory, average demand for an item over a period, minimum safety stock level to maintain, maximum reorder point to replenish, and associated holding cost for each item in inventory The EOQ method is for those who have little data on their inventory needs. It calculates the ideal order size based on inventory costs, demand rate, replenishment time, and safety stock level. The ABC method is the most commonly used method in Inventory Management today. It requires that you track your cost of carrying inventory by product, average demand for an item over a period, and associated holding cost by product.