What is an Inventory System?

Definition

What is an inventory system? Inventory systems are a way of recording and managing the goods owned by a company. Inventory systems typically include a list of the items owned by a company. They may also include information about the location of the items, the cost of the items, and the selling price. Inventory systems can be used to track the cost of inventory, to keep track of how old a particular item is. Inventory systems are an important part of a company's operations.