Inventory Type is set at the Product Family level and passed down to children (Product Line, Item)

(and only if you are interested in multiple types)

The default Inventory Type is "item"  meaning a regular rental item.

Other options include package.

More options will be adding in coming weeks & months.

This table shows some of the attributes of these inventory types:

rental itemTAEpackage
real OR virtualrealvirtualvirtual
capacity calendaryesyes
book directvia Product Linevia Eventvia Product Line
special functionalitynonelinked to Eventsee here
Item levelyes??NO

real / virtual.  A bike is a real (physical item).  But a place on your 4pm shuttle ride is virtual.