Inventory management system

Procurement glossary

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What is an inventory management system?

Software or a process used to track, organize, and control a company's stock of goods and materials. An inventory management system (IMS) helps organizations monitor the quantity, location, and status of goods and materials throughout the supply chain. It tracks stock levels, manages reorder points, records movements of items, and provides insights for planning and decision-making.

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Inventory management system

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