In short word, outbound delivery is decreased stock, inbound delivery is increased stock.

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outbound delivery：
Process of picking goods, reducing the storage quantity and shipping the goods. The outbound delivery process begins with goods picking and ends when the goods are delivered to the recipient.

In the SAP System, this operation is represented by the outbound delivery document, which is generated during the following activites:

Goods shipment based on a sales order
Stock transfer order
Goods return (to the vendor)

inbound delivery：
Process of receiving an inbound delivery of goods at a receiving area. This process also includes the subsequent putaway and the actual increase in stock quantity. The inbound delivery process begins with staging the goods at the vendor's shipping point and ends when the goods receipt posting is made by the goods recipient (ship-to party).

In the SAP System, this operation is represented by the inbound delivery document, which is generated with reference to a:

Purchase order
Shipping notification
Customer return

If you want to know more about inbound delivery, you can refer to the following URL, where explain how to configure and business case use.

http://www.hualinsap.cn/thread-159-1-1.html

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outbound delivery vs inbound delivery

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