Step 1: Select the date, click on the Set Inventory button, and a new view will popup. 

Step 2: On the Set Inventory / Blackout window, enter the Start and End Date and select the product (Room Type) that needs to be updated by clicking on the check-box icon. 

Step 3: Click on Delete Inventory.

Similar steps can be followed for managing blackouts under the Manage Blackout tab.