Sure its possible, but depends on how your doing inventory. Are these different locations entirely different part numbers? Or the same part numbers with a separate field for different locations? For example if your doing it with an aggregate query you would just group on part number instead of part number and location if you wanted a total quantity. If you wanted it broke out by location you would include that group by location as well, really can't suggest a solution without knowing how your doing your inventory now, there's too many options. But yes it's doable.

Yes, it's definitely possible; it's just going to add another level of complexity to your inventory calculations. You have to add another table to track locations, and then you're going to need another table after that, which is the junction of each product in each location to store their inventory. So, it definitely adds another level of complexity, but it's certainly possible.