About IMS:-
Inventory Management System (IMS) is the function of understanding the stocks of organisation and the different demands on that stock. The demands are influenced by both external & internal factors and are balanced by the creation of purchase order / contract requests to keep supplies at a reasonable or prescribed level. Inventory Management is an important function of an organisation. Inventory is maintained basically to ensure operational smoothness. Inventory control may be defined as a set of policies and procedures by which an organisation determines what materials it should hold in stock and the quantities of each that it should carry.