What is the crowd's opinion of xTuple?

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You might want to checkout xtuple a open-source ERP system based on C++/Qt. They also have a open-source report designer/generator called openrpt.

What is the purpose of the system you are proposing? Is it to help monitor stock to help with maintaining stock levels? Will it tie into the financial system, or be expected to produce a "official" report (i.e. a report that will be submitted to some authority)?

Never used it but a quick Google turned up Partkeepr. You might also check out XTuple.