Inventory items

An inventory item record must exist for each type of consumable item, asset, or vehicle that you manage and store at an inventory location. The inventory item record tracks and manages the transactions, quantities, and valuation for the stored items.

An inventory item can be associated with a specific product record. Products represent items that can be purchased from a particular vendor for a negotiated amount. When you link a product to an inventory item, you can restock items from existing contracts or issue purchase order releases for vendor-managed inventory.

An inventory item can also be associated with an asset, for example, a calibration device. Inventory transactions change the status of the associated assets.