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What's the difference btw the inventory and the warehouse?

Anonymous A
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Sidi replied on 05/03/2018
McKinsey Engagement Manager & BCG Consultant | Interviewer at McK & BCG for 7 years | Coached 50+ candidates secure MBB offers

Hi Anonymous,

as Andrea has stated!

Just an additional notion that might be important for you to understand operations behind these terms: Inventory Management vs. Warehouse Management.

Inventory management systems are simpler, in that they give you an indication of the total amount of stock that you have for one specific storage location. Warehouse management systems, on the other hand, allow a company to manage entire storage systems within a structure like a warehouse. So, if a warehouse has multiple storage bins of the same product, warehouse management systems can help you manage all of these, whereas an inventory management system will only tell you how many of the specific product you have.

In short, warehouse management gives you the specifics of inventory control, whereas inventory management simply gives you the quantity.

Cheers, Sidi

Andrea
Expert
replied on 05/03/2018
Former BCG decision round interviewer with 300+ real interviews in 8 years

Inventory is the stock of raw materials, semi-finished and finished goods. Warehouse is the actual facility where these can be stored.

andrea