Inventory: Low material Inventory, what happens?

What happens when the inventory level of a material is too low?
If inventory is too low, the system will not allow the order to be entered.
Are there alerts if inventory is low?
No, but you can monitor inventory levels using the Inventory Level column on the Material page.
Is inventory deducted from the on hand amount when an order/job is placed, or when the order/job is completed?
The inventory level is auto-adjusted when a job status is marked as Completed using the List Estimates/Jobs controls.
The other way to change inventory level is to do a material transaction, a manual update to the inventory (add new stock, take away used stock, take away spoiled stock, add back unused stock). This is done by clicking the inventory icon (three stacked boxes) in the Materials section. Materials that have not been setup to Track Inventory will not display this icon.
What if the job used more material than was ordered,  will the extra material used be automatically deducted from inventory?
Yes, if the job is edited.
Option 1. The job specification for Quantity could be edited to reflect the actual count. This will have the effect of increasing the selling price of the job .
Option 2. Or—if the product price engine was configured with a quantity input for "Overage"—the job could be edited to enter the amount of overage that way instead. Again depending on how the price engine was configured, the extra material used could increase the cost of the job, rather than the selling price, reflecting the overage as a non-chargeable error.
Option 3. Manually change the inventory level in the Material section as noted in one of the questions above.