I would like to know the Difference between Warehouses and Inventory ..? with an real time Example..
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Hi,
In addition to the above explanations,
One of the difference between inventory management and warehouse management is in the specific details of each system.
For example, an inventory management system will tell you how many of a specific item you have in stock, even if that stock is located in multiple storage bins. A warehouse management system is designed to help you manage stock within the warehouse itself.
Another one of the differences lies in the control and storage of inventory.
Hi Warehouse: where we placed our product in place either physical or storage.Inventory means calculate the number of product in and out in warehouse(we simply say details of the product quantity)
In this blog post I give an overview of warehouses, inventory and purchase orders in Field Service. It might help.
neilparkhurst.com/.../field-service-purchasing-and-inventory
Essentially a warehouse is a location that you store inventory. A warehouse could be a physical building but other "virtual" warehouses could also be defined. (For example, we might consider an engineers van to be a warehouse.)
The term inventory refers to the stock held within the warehouse. If Field Service you will find that each product can have multiple product inventory records. And each product inventory record will be linked to a Warehouse.
The inventory for a product includes several values including qty on hand, allocated, available etc. In this post I describe when and how these values are updated.
neilparkhurst.com/.../field-service-inventory-quantities
A warehouse is any location that contains inventory, this might be the physical building you store stock in or may represent “virtual” warehouses such as field agent’s trucks.
It is important not to think of them as just typical physical spaces.
Inventory or stock commonly thought of as the finished goods a company accumulates before selling them to end users
in crm.
in real time example,let say you have food product stored in your warehouse , you divide certain food product to be stored in freezer and few are not.
Hi Ram Kumar,
The warehouse and inventory means the same which we use in our daily life.
A warehouse is a planned space for the storage and handling of products. Inventory represents a stock of products in a warehouse. Inventory is an integral part of Warehousing. which means that warehousing is the broader term. One of the primary differences between inventory management and warehouse management is in the complexity of each type of inventory system. Inventory management systems are somewhat simpler, in that an inventory management system can give you an indication of the total amount of stock that you have for one specific storage location. Warehouse management systems, on the other hand, allow a company the ability to manage entire storage systems within a structure like a warehouse.
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