How to change location of oraInventory in R12.2.4

Find the current location of the Oracle Inventory (default $ORACLE_BASE/oraInventory)

Open the oraInst.loc file in /etc/ and check the value of inventory_loc

[root@sujeet ]$ cat /etc/oraInst.loc
inventory_loc=/u01/app/oraInventory
inst_group=oinstall

[root@sujeet ]$ Copy the oraInventory directory to the destination directory

[root@sujeet ]$ cp -Rp /u01/app/oraInventory /oracle/oraInventory

Edit the oraInst.loc file to point to the new location

For example:

[root@sujeet ]$ vi /etc/oraInst.loc
inventory_loc=/oracle/oraInventory inst_group=dba

Note: The oraInst.loc file is simply a pointer to the location of the Oracle Inventory (oraInventory)

What is oraInventory ?
oraInventory is repository (directory) which store/records oracle software products & their oracle_homes location on a machine. This Inventory now a days in XML format and called as XML Inventory where as in past it used to be in binary format & called as binary Inventory.
There are basically two kind of Inventory Global Inventory (also called as Central Inventory) and Local Inventory also called as Oracle Home Inventory.

Global Inventory ?
Global Inventory holds information about Oracle Products on a Machine. These products can be various oracle components like database, oracle application server, collaboration suite, soa suite, forms & reports or discoverer server . This global Inventory location will be determined by fileoraInst.loc in /etc (on Linux) or /var/opt/oracle (solaris). If you want to see list of oracle products on machine check for file inventory.xml underContentsXML in oraInventory.