An Inventory Management system is an attempt to integrate all functions across a company to a single computer system that can serve all those functions specific needs.
Integration of a single source of data

Common data definition

1)A real-time system

2)Increased productivity

3)Reduced operating costs

4)Improved internal communication

5)Foundation for future improvement

6)Improved customer service and order fulfillment

7)Improved communication with suppliers and customers

8)Enhanced competitive position

9)Increased sales and profits