ECLIPS is a European research Project that addresses the state-of-the-art in supply chain management. It is aimed at minimizing total inventories through the whole supply chain, taking into account a product lifecycle from its market introduction through the maturity phase to the end-of-life phase. In order to achieve this goal, simulation is extensively used in the ECLIPS project. On one hand, simulation supports supply chain management processes (e.g., optimization and decision making) thus providing conditions for minimization of inventories. On the other hand, it provides a platform for testing algorithms and tools developed within the project. The paper discusses different aspects of using simulation in the ECLIPS project and how the acquired knowledge can be explored for other projects.