Inventory system deals primarily with determining the size and placement of the materials within a facility or within multiple locations of a supply chain network. It is also concerned with the importance of forecasting the required inventory, availability of physical space, and cost in carrying those inventories to maintain the planned course of production against the random fluctuations, or shortage of materials. One way of managing inventory is to have a web-based system in place that can instantly track and update the information about the tools or equipment.
The importance of implementing a web based inventory system is becoming vital as most of the time the information are accessible instantly, thereby making the details of the usage of the equipment available, and improving the movement and anticipation of their demand as well as the productivity of the system as a whole. The implementation of this web-based inventory system can help institutions develop the skills to cope with their operational environments.