Inventory management is associated with ordering and reordering stocks along with maintaining the records of the inventory to fulfill the demands of the stocks and production supply. An efficient inventory management software records and tracks the goods based on the quantity and value basis.
In the case of warehouse management, it has a broader scope as compared to inventory management. The warehouse management system is responsible to control the movement of goods within the warehouse. Apart from this, it is also responsible to secure and dispose the hazardous materials and damaged goods from the warehouse.