This usually entails a complete list of all equipment and materials, but excluding consumables, held by the department over a particular value. Usually over £25, but as high as over £100.
Some software does exist, but it is usually done in-house using a program such as Access or Excel. In some cases a card filing system is used, but this obviously is not as convenient to search with.
Inventory is also the name of a group of British artists; see Inventory (artists).