I would like to set notifications for minimum levels for different products within a product table. Suggestion box is WIDE open!

Step 1: add the field for Min QTY and set the values for all existing data.
Step 2: create a report with columns that you want to send in the email and filters where the QTY<MIN QTY or QTY<=MIN QTY if you want to alert when they are less than or equal to the Minimum.
Step 3: create a subscription notification type and use the new report as the content. 

This is the simplest solution to send the daily report for all items that have reached the minimum threshold.