Successful inventory management involves balancing the costs of inventory with the benefits of inventory. Many small business owners fail to appreciate fully the true costs of carrying inventory, which include not only direct cost of storage, insurance and taxes, but also the cost of money tied up in inventory. This fine line between keeping too much inventory and not enough is not the manager's only concern. Others include: Maintaining a wide assortment of stock but not spreading the rapidly moving ones too thin; Increasing inventory turnover but not sacrificing the service level; Keeping stock low but not sacrificing service or performance; Obtaining lower prices by making volume purchases but not ending up with slow-moving inventory; and Having an adequate inventory on hand but not getting caught with obsolete items. The degree of success in addressing these concerns is easier to gauge for some than for others. If you are part of the inventory management team, how would you prioritize the list from above and why?