Thanks also chargingryno. What I am finding, in practice, is that there are two realities not entirely under your control as owner: one is that there are not a lot of good IPs to go around sometimes in a progressive league depending on the year, so you working to ensure that, if not this year, in a future year you project a shortfall of innings in, you are covered. So in that scenario you are working to ensure 1,200 IP in as many years ahead of time as possible. Not always so easy since you also need to use draft picks, or trades, to have all 8 positions covered and ideally, with good players that help you win.
The second scenario arises from the first - because it is, let's stay, 1966 and you are going to need 1,200 IP minimum in 1968 and 69, you get pitchers now. Unless they are on the DL/IR you have their IP as well, so often you find you have 1,600 or 1,700 IP this year, maybe 300 of which you don't nor want to use particularly, because you need pitcher X and pitcher Y for two years from now when they are good and in the meantime they warm up the bullpen bench and flirt with fans.