IP address management (IPAM) is a methodology implemented in computer software for planning and managing the assignment and use of IP addresses and closely related resources of a computer network. It does not typically provide Domain Name System (DNS) and Dynamic Host Configuration Protocol (DHCP) services but manages information for these components. Additional functionality, such as controlling reservations in DHCP and other data aggregation and reporting capabilities, is also common.
Inventory Management System (IMS) is the process of keeping track of all the devices on a network and their configurations. It involves discovering devices on the network, monitoring them for changes, and keeping track of their configurations. Network inventory management can help you more easily keep track of devices in your network. Inventory Management can also provide key details about those assets, like their system description, machine type, vendor MAC address, and more.