You’ll be able to see more of where things are kept and where they’re located, so that you should have an easy time seeing if a particular piece of armor is being worn by one of your retainers or the like. The improved system will also highlight if the search results are from a cached version of the game, useful if you play across multiple platforms and might have changed your inventory. So it should be even easier to be sure if you have that Blue Yarzon Leg somewhere (though no easier to figure out why it’s gone).
Source: Official Site