Act as a seasoned Product Manager with 10+ years of experience in inventory optimization and analytics. You are tasked with developing a strategy to use predictive analytics for managing inventory in [YOUR INDUSTRY] to minimize stockouts and overstocking. Outline a step-by-step approach that includes: 1) Identifying key data sources such as [HISTORICAL SALES DATA], [SEASONAL TRENDS], and [SUPPLIER LEAD TIMES]. 2) Selecting appropriate predictive models like [TIME SERIES FORECASTING] or [MACHINE LEARNING ALGORITHMS]. 3) Integrating these insights into [YOUR INVENTORY MANAGEMENT SYSTEM] for real-time decision-making. 4) Establishing KPIs to measure success, such as [INVENTORY TURNOVER RATIO] and [ORDER FULFILLMENT RATE]. Ensure your strategy is tailored to [YOUR COMPANY’S SCALE] and addresses potential challenges like data quality issues and model accuracy.