1. A computer-implemented method comprising: a processor of a data processing system, communicating, via a network interface device, with at least one database system having therein at least one database containing manufacturing operation data about a manufacturing operation of a product; and importing, via the network interface device, the manufacturing operation data from the at least one database to a local storage device; identifying, within the manufacturing operation data: a plurality of inventory locations associated with the manufacturing operation; and a plurality of components stored at each of the inventory locations that are used in manufacturing the product; retrieving, from the manufacturing operation data: a current component inventory and space data, the current component inventory and space data containing a current inventory quantity and space occupied for each of the plurality of components at each of the plurality of inventory locations; and a historical component usage data, the historical component usage data indicating a magnitude of a historical consumption of the component during a first time period for each of the plurality of components at each of the plurality of inventory locations; retrieving, for each of the plurality of components, at least one demand forecast which indicates, for each of the plurality of components, a magnitude of future component usage during a second time period; calculating, based on the current component inventory and space data, the historical component usage data, and the demand forecast, a target inventory level range for each of the plurality of components at each of the plurality of inventory locations; receiving, via an input device of the data processing system, a selection of at least one selected component from among the plurality of components and at least one selected inventory location from among the plurality of inventory locations; in response to receiving the selection: generating, by the processor, at least one inventory level control chart that depicts a number of the at least one selected component at the at least one selected inventory location during a plurality of time periods; and displaying the at least one inventory level control chart on a display device communicably coupled to the processor; retrieving, from the manufacturing data: inventory location information for each of the plurality of inventory locations; and a component space usage for each component; calculating a percent occupancy for each inventory location based on the inventory location information and the component space usage, wherein the percent occupancy of an inventory location identifies a percentage of a total space that is occupied by all components at that location; generating at least one space control chart for the at least one selected inventory location based on the percent occupancy, wherein the at least one space control chart identifies the percent occupancy for the selected inventory location; and displaying the at least one space control chart on the display device; wherein the at least one inventory level control chart and the at least one space control chart are used to determine optimal inventory levels of the plurality of components that would not disrupt manufacturing operations of the product and minimize a cost of holding the plurality of components within the plurality of inventory locations.