Inventory management is a function which processes physical product items. They can be received (purchases or returns) or send out (sales).
shipment will appear in the in/out shipment list when an order is approved and the order has physical products.
Products received into the inventory are called assets and are in a certain state, (new/used etc ) as indicated in the name. They are related to a product in the catalog and stored at a specific location in the inventory.
At least yearly you have to check the system inventory information with the actual situation in the inventory.
This can be done in the locations option in the warehouse.