Material status control, which is one of the best feature of oracle WMS is now also available in Oracle inventory after release 12. It allows to control what type of transactions can be & cannot be done on onhand quantities. This feature provides similar controls to materials as item status provides to items.
Material Status control restricts the movement and usage of portions of on-hand inventory. Using material status control enables you to control whether you can pick or ship an internal order or sales order, or issue material for a work order. You can also specify whether material needs to be quarantined until you inspect it. In addition, you can determine whether products with a particular status can be reserved, included in available to promise calculations, or netted in production planning. You assign material statuses at four levels: subinventory, locator, lot, and serial.
You assign subinventory and locator statuses in the subinventory and locator windows. The location status applies to the material in the location and not the location itself.
you can choose which transaction types are available for material status control by enabling the check box in transaction type definition form

Material status control @ subinventory & locator

Material status control @ Lot & Serail
Material work bench window