During the conduct of Operation Iraqi Freedom (OIF) in 2003, there were several reports of ammunition shortages experienced by combat units. Sometime between the end of the Cold War and OIF, the management of ammunition became inadequate, resulting in shortages after a relatively short campaign. This Strategy Research Project examines the possible causes of these ammunition shortages and recommends possible solutions. Sections address ammunition shortages experienced during OIF, determining ammunition requirements, supply issues, replenishment policy, attempts to improve the efficiency of ammunition plants, production issues, asset visibility and reporting, and what the Army did to solve the problem. The data and analysis suggest that the shortages in OIF were not a result of inadequate supplies, but more likely a result of inadequate theater distribution and asset visibility. The research provides a basis for recommendations that can help prevent shortages of small arms ammunition in the future.