Inventory Manage System Definition

An inventory management system (IMS) is a computer program used to track inventory levels, orders, sales and deliveries. It is usually combined with an accounting system to provide a complete financial picture of your business.

An IMS can help businesses keep track of stock levels, minimize stockouts and lost sales, and reduce excess inventory. By automating the process of tracking inventory data, businesses can save time and improve accuracy.

IMSs are often used in manufacturing and distribution businesses, where managing inventory levels is critical to operations. In these industries, IMSs are used to track raw materials, finished products and work-in-progress.