Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets. Inventory management software consists of business applications that track, manage and organize product sales, material purchases and other production processes.
Inventory management is the supervision of non-capitalized assets and stock items. A component of supply chain management, inventory management Software Application supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.