Explain the Inventory Models that are used to address the issue of uncertainty in demand while deciding optimum level of inventory. 

Inventory management is a critical aspect of supply chain management that involves determining the right level of inventory to ensure that sufficient inventory is available to meet demand while minimizing inventory holding costs. One of the primary challenges in inventory management is uncertainty in demand, which can lead to stockouts or excess inventory. To address this issue, several inventory models have been developed that help organizations determine the optimum level of inventory while taking into account uncertainty in demand. In this answer, we will discuss some of the most common inventory models used to address uncertainty in demand.

1. Economic Order Quantity (EOQ) Model: The EOQ model is a widely used inventory model that helps organizations determine the optimum order quantity that minimizes total inventory holding and ordering costs. The model assumes that demand is known and constant, and there are no __________ _____ ________ ________ ____ ______ ___ ____.
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