If you have low iron stores following a blood test, can that lead to anemia? is there a recommended dosage of iron supplement to help restore levels.

Yes and yes: The first thing to go down low is the iron storage. If you don't fix it- eventually you are going to become anemic. Yes, you can take iron supplement by mouth 3x/day. But most importantly is to find why your iron is low. You should have a GI work-up- egd and colonosocpy and check your urine- to check blood in urine. If + blood in urine- you need imaging study, perhaps urologist etc. Go to see gp.