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Ware house Management - Bar Code

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Hi Friends,
 
I need to understand following:
 
First- I am trying to understand with latest version of DX 365 about inventory management and Warehouse management. I understand Warehouse Management provides  planning , scheduling, space management, Bar code, Label printing, capacity management and other planning tools for warehouse. I just want to check is there functionality enabling label printing with Bar Code for bin location without enabling warehouse management. 
 
Second- I need to understand the Pros and Cons of Warehouse management over Inventory management. 
 
Thanks

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