How to Control & Manage Your Inventory with Inventory Management Software?

Top Rated Inventory Management Software

Establishing a business enterprise in this competitive market is stressful, painstaking, and time-consuming. Managing inventory and fulfilling the consumer’s expectations is an added responsibility which can drain the management to extreme. Organizations look forward to helping in advanced software that is accurate in handling inventory, eliminating overproduction, overbooking, and wastage and cost reduction. A right inventory control management is essential for indispensable business success. With so many Inventory management software coming up today, it might be an erroneous task for the enterprise.

Various factors combine together to help you select the best inventory management software. This buyer’s guide will help you calculate business requirements and choose the right software.

What is Inventory Management Software?

Inventory Software alias Inventory control software is an advanced platform, a solution, and a savior to a business that strives to manage and control of the company builds buys, sells, and stocks. Inventory software helps the management to keep a track of all information, simplify pricing for products, and maintain the most effective stock levels. Smart Inventory management software critically guides the business in facilitating logistical management of products and automating a process that includes trading, ordering, costing, transportation, assembling, storing, delivery, and shipping.

The 15 Best Inventory Management Software of 2020

1. Zoho Inventory - Inventory management software for growing businesses.
2. TradeGecko - Powerful software to help you sell more - work smarter - grow faster
3. Stitch Labs - Modern operations management for modern, growing brands.
4. Sellbrite - Inventory Management Made Magic
5. Lightspeed POS - Reinvent your business with the omnichannel retail POS system
6. Orderhive - Use Orderhive to automate and streamline your order workflow
7. Megaventory - Cloud Inventory Management, Order Fulfillment, Manufacturing
8. EZOfficeInventory - Inventory Control Software
9. ShipMonk - Order fulfillment for eCommerce
10. eChannelHub -The smarter way to manage your online business.
11. Finale Inventory - Multichannel Inventory Management For Your Growing Business
12. ecomdash - Ecommerce Inventory Management Software
13. Primaseller - Multichannel Inventory and Order Management Software
14. DEAR Inventory - Inventory management that’s seamless, easy and efficient.
15. EZRentOut - Equipment Rental Software That Helps You Grow
16. NetSuite - Supply Chain & Inventory Management Software
17. Multiorders - Multi-channel inventory management
18. Zenventory - Inventory Management Software for eCommerce Retailers

1. Zoho Inventory

Zoho Inventory

» About Zoho Inventory:

Business expansion over multiple channels is possible only by integrating advanced inventory management software. Zoho Inventory is one of the best inventory management software that streamlines business operations, enabling them to effectively manage inventory, purchase order, sales order, and shipments. This GST-ready inventory management software saves business GSTIN and auto-populates itself as soon as there is a purchase, sales, invoicing or billing. Zoho Inventory is a fully-packed, AI-powered inventory management system with item-kitting features that can be customized to suit every business.

Integrating Zoho Inventory, additionally helps in managing sales over digital marketing platforms like Amazon, eBay, Etsy, or Shopify. The sales team can now efficiently manage offline and online orders with this integrated order management system. Zoho Inventory is equipped with an end-to-end tracking system that helps in tracking the movement of each item from warehouse to salespoint. Providing real-time shipping rates and in-transit details is another major feature delivered by Zoho Inventory to its clients. This small business inventory software offers free demo to new clients and helps you evaluate the most important features. Zoho Inventory saves time by creating invoices and allowing the team to managing the company efficiently. Zoho Inventory is available on the monthly and annual subscription. Clients can try a free trial plan to try out features before buying it.

» Starting Price:

$49.00/month/user (Basic-$49,Standard-$99,Pro-$249)

» Zoho Inventory Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.5/5                                  » G2crowd: 4.4/5                                     » GetApp: 4.5/5


“Our stock management system has become much better after using Zoho Inventory. We also switched to Zoho Books for our accounting management for its seamless integration with Zoho Inventory”
- CLIVE TAYLOR Managing Director, Doability

2. TradeGecko

TradeGecko

» About TradeGecko:

With clean user-interface and impressive features, TradeGecko is one of the best business inventory software. This powerful multi-purpose inventory management software is built to boost high growth eCommerce and multichannel brands. TradeGecko is cloud-based inventory management software for small to medium scale businesses that lack resources but aim to flourish in the business sector. With only a motive to help you work smarter, grow faster and increase sales, TradeGecko is a boon in the form of small business inventory software. Whether you are a distributor, a wholesaler or a retailer, this in-class inventory management software optimizes and ensures efficient operation of your business.

TradeGecko automatically updates inventories and keeps track of stock levels; managing inventory across multiple warehouses. The inventory optimization feature streamlines the internal operation and guides the business with the right stocking method. TradeGecko lets you transfer stock between warehouses, manage multiple currencies, receive and fulfill orders, synchronize orders with inventory and access sales reports. Additionally, TradeGecko acts as a central hub to manage inventory and maintain a balance between B2B, B2C, and marketplace. This inventory software creates sales email, generates sales orders, sets shipping rates and various other functions to make your business run efficiently.

» Starting Price:

$39.00/month (Monthly and yearly subscriptions available, prices in USD.)

» TradeGecko Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.5/5                                  » G2crowd: 4.3/5                                     » GetApp: 4.4/5


“I go to places like Vietnam, source the products I like, update the inventory details, and create the purchase orders - all on the spot using TradeGecko!”
- Richard Lim Lim’s Arts & Crafts

3. Stitch Labs

Stitch Labs

» About Stitch Labs:

When you are using conventional inventory management software, it might lack advanced features and restrict your access. It’s time to shift to more advanced, integrated best inventory software like Stitch Labs. Inventory is the heart of every commercial business. A multi-channel inventory system like Stitch Labs is not only a savior but also handles a lot of business epidemics with its integrated advanced features. Over Purchasing, less-inventory, late deliveries, maintaining multiple warehouses, inventory accounting, and cost management are some of the common problems faced by the business. Stitch Labs is one of the advanced inventory and order management software which benefits the commercial business by centralizing inventory and controlling sales, purchase, and orders.

Stitch Labs is a cloud-based inventory management software that provides detailed retail reporting to view historical stock, financial location and sales velocity which helps in future assessment. Additionally, this multichannel platform updates sales channels, transfer inventory, track units in transit and inbound locations. Stitch Labs offers purchase order management, cost allocation, low stock alerts, bundling, and stocktakes. By expanding into this software, a business gets a better picture of its inventory, and accurate data to prevail forecasting and making smart business decisions.

» Starting Price:

$799.00/month

» Stitch Labs Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Mobile Access
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.5/5                                  » G2crowd: 4.2/5                                     » GetApp: 4.5/5


“With a better picture of our inventory and what’s heading out and what’s available, we have accurate data for forecasting.... It’s super easy to get the data you need to make smart business decisions.”
- James Hargett Manager of CX and Fulfillment | Chubbies

4. Sellbrite

Sellbrite

» About Sellbrite:

Overselling is one of the biggest bottlenecks in selling business which can be overcome by efficient inventory management software like Sellbrite. Giving you complete control of inventory and eliminating overselling of products, Sellbrite is one of the most sorted business inventory software. This user-friendly platform offers enterprise-level inventory management features and helps the business in establishing a balance between stock, sales, and purchase orders. Whether the business deals in hundreds and thousands of items, Sellbrite offers centralized inventory management from one easy-to-use interface. The software allows its users to view and manage reserved, on-hand stock levels and available products easily. Sellbrite lets the business handle its FBA quantities across all other channels through its automatic inventory adjustment features.

Sellbrite is one of the best small business inventory software that provides user-friendly advanced features to save you from overstocking. Its multi-channel inventory control feature assists the business in tracking inventory, automate orders routing between various warehouses and provide complete warehouse control. This inventory and order management software is a unique platform with great customer service, and 14 days trial period enabling the users to understand the importance of integrating Sellbrite.

» Starting Price:

$49.00/month

» Sellbrite Features:

  • Inventory Optimization
  • Multi-Channel Management
  • Warehouse Management
  • Reporting/Analytics

» Capterra: 4.5/5                                  » G2crowd: 4.2/5                                     » GetApp: 4.5/5


“At the beginning I thought Sellbrite might just control inventory, but then I realized you can do way more with the software, like manage product catalog data and create new listings without logging in to your channels.”
- Jin Lin Founder of JJ Designer Jewelry

5. Lightspeed POS

Lightspeed POS

» About Lightspeed POS:

All-in-one inventory management software is a gift of technology for any growing business. Lightspeed is the only retail POS that helps in the smooth running of the business, optimizing stock and managing sales. Since its inception, Lightspeed grew more than four times, thankfully for its user-friendly design and advanced features. This impeccable business inventory software is termed as a complete retail management solution, smart, scalable technology that levels up the business. The software helps in transferring stock, an access point of sales, stock, thrive and sell through any device.

Lightspeed POS is not just any inventory management software but a platform that keeps you updated on your customers as well. Get customers' profile, purchase history, and customer’s categories with POS solution. Additionally, Lightspeed provides extra support in fulfilling consumer demand, special orders, layaways, work order management and ensure timely delivery. With a one-on-one boarding system, Lightspeed delivers 24/7 support through webinars, videos, and absolutely free demo. Whether you sell a bike, apparel, electronics, or sporting goods; Lightspeed POS allows you to handle your inventory and manage sales on the go! This easy to use inventory control software provides access to inventory management tools that streamline with workflow and helps in growing your business to the next level.

» Starting Price:

$69.00/month (Billed annually. Prices may vary depending on choice of bundle)

» Lightspeed POS Features:

  • Allocation
  • Cost Tracking
  • Item Management
  • Procurement Management
  • SKU / UPC Codes
  • Supplier Management
  • Barcoding
  • Forecasting
  • Order Management
  • Reorder Management
  • Serial Number Tracking

» Capterra: 4/5                                  » G2crowd: 4.1/5                                     » GetApp: 4.1/5


“I love the robust inventory management, and all of the different reports I can run to look at my sales from many different angles. Any issues I've ever had with Lightspeed during initial set-up have been solved within an hour by knowledgeable, helpful, and friendly support staff.”
- Fringe

6. Orderhive

Orderhive

» About Orderhive:

Orderhive is cloud-based inventory management software that deals in everything- from order fulfillment, e-commerce automation to handling product movement. This single platform solution is an answer to all queries about making smarter business decisions. Orderhive is a modern technology that deals in real-time inventory synchronization, e-commerce automation, and simplified purchase management and delivers quick analytical reports. Offering 15 days trial period, Orderhive allows its users to understand the importance of its features and how they are helpful in business growth.

This Inventory control software keeps inventory levels under optimized control by cutting guesswork and accurately tracking product movement. Orderhive is no less than wonder software which takes care of cost-cutting, automates the manual task, and synchronizes entire inventory across sales channels, warehouses, and distribution centers. Additionally, Orderhive features include simplified product management, catalogue management, and inventory visibility, reduce risk of overselling and underselling, produce real-time inventory reports, manage purchase history, stock count form, price adjustment, stock adjustment, reorder back-ordered products, COGS management, inventory audit reports and many more. Orderhive is easy to integrate inventory software that showcases the major difference in making business decisions. The platform is available for 15 days trial to help the users evaluate each feature and understand its usability in business growth.

» Starting Price:

$0.01/month (Flat 55% slashed! Subscriptions to now start at $44.99/month*.)

» Orderhive Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.5/5                                  » G2crowd: 3.6/5                                     » GetApp: 4.5/5


“We needed a software that could work as a master of stock, be able to sync stock across three sales channels, push orders to three different warehouses alongside - and most importantly - automate daily task workflows. Orderhive allowed us to achieve that with great precision. Not just that, it saved our team a great deal of time with highly fluid automation of daily repetitive and routine tasks.”
- Stefan Gehrig

7. Megaventory

Megaventory

» About Megaventory:

Megaventory is a cloud-based inventory management solution which is designed for medium sized businesses, including retail, wholesale or manufacturing companies, franchises and nonprofit organizations. It allows you to manage sales and purchase orders, sales quotes, backorders, dropshipping, consignment, partials, returns, inventory with serial numbers and barcodes – all with capabilities for multiple users! The inventory management feature focuses on providing inventory at multiple locations, keeping check of the stock level, checking supplier availability and ensuring an on-time return of inventory. The manufacturing of physical goods, on the other hand, works in modular steps which allow to understand and interconnect operations from one end of the supply chain to the other, while monitoring costs throughout the process.

Its features include sophisticated user permissions, customizable user strings and reporting, full data import and export, multiple currencies and exchange rates, pricing rules, significant self-localization and customization elements (including creating custom documents) and a rich API. Integrations in Megaventory, additionally help in managing different related activities such as sales on e-commerce platforms (Shopify, Woocommerce and Magento), accounting (Quickbooks) or connection to other apps (Zapier). Megaventory is a must have tool because not only does it provide a tool to log supply chain operations, but it is the basis for the correct handling of the procedures involved in these operations. Adopt Megaventory for successful management of your company for as little as USD 150/mo! Signup for a free trial or book a call today!

» Starting Price:

$150.00/month

» Megaventory Features:

  • Alerts/Notifications
  • Invoicing
  • Inventory Optimization
  • Kitting
  • Mobile Access
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Production Tracking
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.4/5                                  » G2crowd: 4.3/5                                     » GetApp: 4.4/5


“I love Megaventory because of its simplicity in the way it achieves the target. It helps me manage all the basic functions I need for our wholesale clothing business.”
- Umair Arif / General Manager, Three Layer

8. EZOfficeInventory

EZOfficeInventory

» About EZOfficeInventory:

One of the world’s leading cloud-based inventory management software, EZOfficeInventory performs stock tracking and keeps its users updated with real-time inventory data. This end-to-end inventory tracking software easily fits into your business and delivers out-and-out services. Now it’s easy to keep an eye on your stock, manage incoming and outgoing product movements, keep track of warehouse items, manage and track purchase orders, lifetime costs, draw actionable reports checkouts and scan mass inventory easily with any device. The traditional concept of manual inventory management was not only time consuming but a tedious job. EZOfficeInventory is the inventory control software that helps the business overcome hassles of stock-outs, inaccurate stock count, missing equipment, and time-consuming labour with cloud-based flexible hacks.

EZOfficeInventory is an easy-to-setup, extremely intuitive solution which helps the management track exact location of products, and set up purchase order accordingly. This incredible platform is available on the mobile app which gives you mobility and allows you to handle warehouse and track items through Barcodes, QR Codes and pulls them on systems to run reports, assign custody and set thresholds. EZOfficeInventory is the brilliant inventory control software that eliminates chances of stock-outs, increases operational efficiency, and control assets while saving time and money.

» Starting Price:

$35.00/month (Pay for what you need pricing https://www.ezofficeinventory.com/pricing)

» EZOfficeInventory Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Warehouse Management
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.7/5                                  » G2crowd: 4.5/5                                     » GetApp: 4.7/5


“EZOfficeInventory is intuitive and easy to use, which is why it is no surprise that our entire marketing team was easily able to adapt to this new system [..] I can't believe we were ever using paper in the first place. EZOfficeInventory has helped us tremendously.”
- Jon Mitchell Quicken Loans

9. ShipMonk

ShipMonk-inventory-mangement-software

» About ShipMonk:

ShipMonk packs a major punch with its proprietary software solution by merging order, inventory, and warehouse management into one clean, easily digestible interface. Every part of ShipMonk's software was built with growth in mind, so that small to medium-sized eCommerce businesses can truly take their business to the next level with reliable, user-friendly technology. In addition to providing eCommerce business owners with next-level support, ShipMonk also caters to crowdfunding campaigns and subscription boxes, meaning that merchants can effortlessly expand into other business ventures without skipping a beat.

ShipMonk's software has it all — with nothing more than a few simple clicks, merchants can upload SKUs, check inventory levels, track orders, calculate shipping rates, export important data, and so much more. Upon logging into their accounts, merchants are instantly greeted with a comprehensive dashboard of their current operations, with virtually everything they could need right at their fingertips. And, with over 60 integrations with online marketplaces, shopping carts, and solution providers, it's almost guaranteed that every eCommerce business owner will be able to seamlessly sync their online POS systems with ShipMonk. That means that whether you're a seller on Amazon, eBay, Etsy, Shopify, Cratejoy, Weebly, Target, or Walmart, ShipMonk has you covered.

» ShipMonk Pricing:

See all pricing options

» ShipMonk Features:

  • Forecasting
  • Kitting
  • Multi-Channel Management
  • Product Identification
  • Reporting/Analytics
  • Retail Inventory Management
  • Warehouse Management

» Capterra: 4.3/5                                  » G2crowd: 4.6/5                                     » GetApp: 4.3/5


“ShipMonk has helped us grow in ways that would never be possible without their help. Their expertise in every step of the fulfillment process – from inventory management to packaging and shipping – has been, and continues to be, invaluable.”
- Dorian Wagner / Founder of CatLadyBox

10. eChannelHub

eChannelHub-inventory-mangement-software

» About eChannelHub:

eChannelHub is a multichannel ecommerce platform that simplifies and automates online listing and syncing of products, inventory, orders, processing, and shipping across all marketplaces, shopping carts, shipping solutions and ERPs through a single, centralized interface. From offering listing tool for marketplaces, to real-time inventory sync tool, order management system, and much more, we have it all covered for you. eChannelHub aims to take the pain out of your multichannel sales and empower you to focus on your core business aggressively rather than worrying about stock management, having updated product data, shipping the orders and other similar tasks. Fully integrated with all leading channels, our multichannel ecommerce platform allows retailers to spend less time updating, enhancing and formatting product data, thus enabling them to focus more on selling.

The fast-growing ecommerce industry offers a lot of scope to everyone – from big names to the startups. And we aim to help everyone planning to claim a pie of this multichannel ecommerce through our multichannel ecommerce platform, which is ably supported by our competent, young team. We believe in pushing the envelope, and are ready to take risks, think out-of-the-box, and experiment to learn, grow, and add value. And our driving force is to dream big and act in sync to make those dreams come true. We are proud to be called “problem solvers par excellence” and believe in doing the common things – albeit with a difference, to arrive at better end results.

» eChannelHub Pricing:

See all pricing options

» eChannelHub Features:

  • Alerts/Notifications
  • Forecasting
  • Inventory Optimization
  • Multi-Channel Management
  • Retail Inventory Management
  • Supplier Management
  • Warehouse Management
  • Kitting
  • Mobile Access
  • Supplier Management
  • Product Identification
  • Reporting/Analytics

» Capterra: -                                  » G2crowd: -                                     » GetApp: -


“I would recommend eChannelHub to any business looking for a Multichannel Ecommerce Platform.”
- Susan

11. Finale Inventory

Finale Inventory

» About Finale Inventory:

Finale Inventory is cloud-based multichannel inventory management software for smarter growing businesses. One of the best warehouse management software, Finale Inventory is trusted by most of the world’s smallest and medium scale businesses for its indispensable features. The software is designed to solve all the inventory needs, keeping in mind the importance of centralization, multipurpose integration, and warehouse management. With advanced order management features, the business can prevent costly stock-outs, calculate reordering points based on product sales velocity, make smarter purchasing decisions, and handle restock forecasting. In addition to being the best inventory and order management software, Finale Inventory has a comprehensive out-of-the-box barcode inventory control solution as well. This feature is designed to increase warehouse facility by using multi-operational mobile barcode scanners.

Finale Inventory explicitly coordinates warehouse and online sales channels and helps in updating frequent changes in the stock. The platform has a powerful reporting engine that provides customizable reports to help to make quick business decisions. The product is a transparent, affordable, and advanced platform that speaks for itself. Since its inception, Finale Inventory has collaborated with thousands of companies and offered customizable features to fulfill individual requirements. This top-quality best inventory software believes in providing bets recommendations, perform customizations, and empower businesses to grow with confidence.

» Starting Price:

$99.00/month

» Finale Inventory Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.7/5                                  » G2crowd: 4.8/5                                     » GetApp: 4.7/5


“Finale has been a perfect solution for our growing business. Our business manufactures items that require assembly and kitting. Finale's ability to manage and track each component individually as well as when complete kits are sold is very advantageous for our business.”
- Jeff Sposito CEO, Stone Glacier

12. ecomdash

ecomdash

» About ecomdash:

Whether it is a start-up company or an established business enterprise, adequately advanced inventory control software. This online inventory solution helps every business to manage stocks across online selling portals like Amazon, eBay, Etsy, and numerous such platforms. The main motive behind developing an advanced platform like ecomdash is to allow the management with ample time focusing on business growth and improve supply chain visibility. This inventory management software easily tracks and syncs product quantities, sets custom alerts to notify inventory levels, manage purchase orders, boosts multichannel product tracking. ecomdash is equipped with product SKU mapping that helps in track products with unique mapping identifiers.

ecomdash is backed by a support team that offers a free inventory guide on managing multichannel sellers and product movements. This professionally advanced automating inventory management software manages stock bundling; multipacks sent to FBA track individual components, tracks itemized costs, create work orders, accurately sync quantities across sales platforms. The software is trusted by numerous online sales portals as it acts as a bridge between the customers and the sales channels. The software allows small businesses to expand by offering affordable pricing policy as well.

» Starting Price:

$60.00/month

» ecomdash Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 3.9/5                                  » G2crowd: 3.9/5                                     » GetApp: 3.7/5


“Ecomdash is offered at a great price, they offer fast and friendly customer service, the platform is easy to use & hassle free, and they are constantly adding new marketplaces and partners.”
- Josh Simone CEO of Art Cove

13. Primaseller

Primaseller

» About Primaseller:

Software that connects customers, sale depot, warehouses and wins more sales for the business is considered as the best inventory management software. Primaseller is among the best POS, inventory and order management software with impressive features and out-of-the-box consumer services. This platform is specially designed for modern retailers who look forward to integrating a centralized, synchronized inventory software that easily integrates into multi-channel businesses selling both offline and online. Primaseller is a cloud-based platform managing e-commerce orders in a single place and keeping the stock count reliable and secure.

Additionally, Primaseller manages suppliers and procurement process with automated purchase orders, create and manage customers’ orders, create a single database across retail stores. The software provides insightful analytics on sales across multi-channels. Every time the business receives orders on online channels, Primaseller automatically updates inventory information across selling stores, wherever the product is listed. This platform acts as a digital catalogue where the team can update product information, add new products, synchronize pricing, and product groupings. Transfer, track inventory, manage bundle kits, create suppliers, map products, print and scan barcodes are few more additional features offered by this Omni-channel inventory management software.

» Starting Price:

$59.00/month (From $59 to $299 for all business sizes)

» Primaseller Features:

  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.6/5                                  » G2crowd: 4.5/5                                     » GetApp: 4.6/5


“We've started using Primaseller recently. After trying other options and comparing, we're so very impressed with their customer service, they make all the tricky sides of using a new complex program much easier and pleasant. We're really grateful.”
- Violeta Solis-Fuertes

14. DEAR Inventory

DEAR Inventory

» About DEAR Inventory:

Finding the right inventory management software for your business had never been so easy! With DEAR Inventory manage all your business operations, warehouse management, accounting, B2B portals, purchasing, manufacturing, and various other functions on a single platform. This immensely feature-riched inventory control software evolves, manages, analyses, and automates every aspect of your business with a centralized online platform. DEAR Inventory is a seamless, easy, affordable, and efficiently active platform which empowers business in effectively managing biggest investments and get up to date inventory knowledge. This is one of the best inventory software in the market which upgrades your traditional ERP models to high speed and cost-effective true cloud ERP software.

DEAR Inventory simplifies the challenges faced by wholesale level production management with its impeccable features. It offers access rights to management for specific locations, drop-shipping, manages product families, transfer stock between locations, stock adjustments, purchase, and sales history, reorders stock level and unlimited bin location. Additionally, this platform provides analytical reports on product availability, inventory movement, product price list, stock level, reordering, stock-crisis, inventory aging, and batch expiry, job costing material and finished good reports. Trusted by numerous fortune companies, this product is available for 14 days trial period that helps you analyze its features and integrate wisely.

» Starting Price:

$199.00/month (1 month free with annual subscription)

» DEAR Inventory Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.4/5                                  » G2crowd: 3.8/5                                     » GetApp: 4.8/5


“Great service from Brad at Dear right up to the last minute of 2017. Thank-you for your efforts to help with the many questions we've been covering off for a prospect. Love how flexible and easy to setup the user permissions are in Dear - no other system can compete on this feature.”
- Gary Williams

15. EZRentOut

EZRentOut

» About EZRentOut:

Equipment rental software EZRentOut is one of the best inventory and order management software that helps small scale businesses grow easily. This inventory software has all the time-saving tools that make it easy to manage a warehouse, product movement, invoices, sales, and purchase orders, online stores from anywhere. With EZRentOut, tag, and track construction tools, setup maintenance calibrations schedules, set asset custodians, keep track of orders, and manage rental assets, customers and invoices from a single platform. The software helps in scheduling advanced orders, reserve rental equipment for customers to avail of conflict-free bookings. Its inventory management features help in tracking product location, product movement, maintenance status, availability of rentals, set handy alerts to prevent stock-outs, and streamline online stores.

EZRentOut helps in accessing assets across locations and analyses reports to reduce cost and increase productivity. This trusted asset tracking software eliminates all your hassles by simplifying operational workflows. It is relatively easy to use interface which keeps track of your inventory, manage rentals, set custom templates, manage import and exports, and efficiently manage the business operation.

» Starting Price:

$49.98/month

» EZRentOut Features:

  • Alerts/Notifications
  • Reorder Management
  • Retail Inventory Management
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.7/5                                  » G2crowd: 4.5/5                                     » GetApp: 4.7/5


“I love how easy the layout is! The customer support is just amazing. I love how customers can suggest features, and the EZRentOut staff takes them into careful consideration based on overall functionality.”
- Julian Barrett

16. NetSuite

NetSuite

» About NetSuite:

Manage and optimize your global supply chain with an efficient inventory and order management software like NetSuite. This software is a virtual gift by app designers to the manufacturers who struggled to find the best product management and order management software. NetSuite is not just limited to manage supply chain but is equipped with impressive features to handle product data management, planning and scheduling inventory, work order management, manufacturing execution system, product distribution, planning, and execution of product supply, warehouse management, and inbound-outbound logistics. The product offers various native tools and features to help in tracking inventory from multiple locations, manage safety stock, re-order points, cycle counts, demand planning and distribution planning of products.

NetSuite offers unique capabilities for companies that are based solely on high advanced inventory management software. The system enforces detail screening of inventory by serial number and full traceability features. This software automatically generates product catalogues based on categories, volumes, and types. It automatically prompts counting of items and standardizes inventory accuracy to eliminate stock counting errors. The software is backed by highly professional customer support that guides you through each feature and helps in proper integration.

» NetSuite Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 4.3/5                                  » G2crowd: 3.9/5                                     » GetApp: 4.3/5


“Great reporting and searching tools - combines all company needs - customer records, transactions, accounting, inventory - easy to integrate with most major programs - highly customize-able - easy to assign "roles" to employees to only access what they need in their positions - mostly easy to use and informative help section.”
- Joy G.

17. Multiorders

Multiorders

» About Multiorders:

Integrate your business system with an advanced multi-channel inventory and order management system like Multiorders. Offering perfect workflow with its advanced features, Multiorders has been popular among several software review sites as well. The software is easy to use, affordable inventory management platform. It integrates smoothly with all sales channels- both offline and online, manages orders, optimizes workflow solutions, connects shipping carriers, prints labels, manages pricing and stock levels. The software connects all the shipping orders on various carries and helps you manage the stock with just one click. It automatically updates orders and inventory levels through tracking features.

Multiorders understand the importance of time and save you from switching over numerous sales channels. It updates pricing, stock lists, tracking information with a single click. Additionally, this software helps businesses integrate with multiple online sales channels like Amazon, Big Commerce, eBay, Etsy, and others. It automatically imports consumer information, purchase history, and order details that help in managing future orders as well. This multichannel e-commerce and inventory management software is easily available for trial that helps you understand its usability. By managing orders and inventory at the same time, Multiorders is proving itself a boon to numerous fortune companies for futuristic growth.

» Starting Price:

$36.00/month (Free Trial- 100 Orders Mini-$36 Small - $69 Medium-$119 Large-$219)

» Multiorders Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Mobile Access
  • Reporting/Analytics
  • Supplier Management

» Capterra: 3/5                                  » G2crowd: 5/5                                     » GetApp: 3/5


“I mostly like the scalability. It's infinite. Most of the time if you use a software of this sort either the performance or the cost quickly gets out of hand as your business grows. This is not the case with Multiorders. They have a very conservative price curve, and the enterprise plan makes it the best option in the market by far.”
- Mark T.

18. Zenventory

Zenventory

» About Zenventory:

Zenventory is among the best business inventory software that provides a time-saving, efficient, cost-effective solution to control orders and inventories on a cloud. Offered at the game-changing price, Zenventory is equipped with advanced features to track inventory, manage orders on multichannel portals. The platform is specially designed for small business that wants to leave a mark on the world’s market with progressive workflow. The software offers unlimited user access, multiple warehouses at no additional costs. The software works on any desktop are mobile-friendly and require no software to maintain. This cloud-based platform is equipped with dynamic features like item management, vendor management, cycle counting, inventive par level, and kitting, multi-warehouse ready and low-stock alerts.

Zenventory allows the user to connect any device, tablets, and mobile apps to efficiently track goods movement. Now it has become easier to locate stock on multiple locations and improve picking efficiency. This multi-channel ready software is highly customizable and helps the business to integrate the solution wisely. Zenventory offers to choose warehouse locations according to business requirements, eliminate majority errors regarding pick process, and stay on top with stock level alerts. The product offers full support and is available for a trial period as well.

» Starting Price:

$99.00/month (Unlimited users, orders and SKUs in every pricing tier.)

» Zenventory Features:

  • Alerts/Notifications
  • Inventory Optimization
  • Multi-Channel Management
  • Reorder Management
  • Retail Inventory Management
  • Warehouse Management
  • Forecasting
  • Kitting
  • Mobile Access
  • Product Identification
  • Reporting/Analytics
  • Supplier Management

» Capterra: 5/5                                  » G2crowd: 3.5/5                                     » GetApp: 5/5


“Great inventory management software, very powerful and inexpensive for a small company like ours. It connects our shipping, accounting and order receiving into one solution.”
- Mark K.

6 Best Free and Open Source Inventory Management Software

There is a massive evolution in the warehouse software technologies recently. Companies can now optimize their time, money, and resources with greater profitability. Business establishments look up to robust, scalable, and well-organized inventory management software systems.

Free and Open source Inventory management software system for warehouses facilitates tracking several details with efficient and organized inventory data. It can range from tracking inventory levels, orders and deliveries, and much more. Inventory data of warehouses was before stored in hard-copy spreadsheet formats. But now, inventory management software can take care of it with great resourcefulness. Some of the core features of open source inventory management software are:

Asset Tracking
Optimized Inventory Management
Organized Warehouse Management
Product Identification
Configurability

You can align all your warehouse operations and can perform with productive results. This is possible by choosing from some of the most popular and scalable inventory management software free of cost.

1. Odoo

Odoo is a highly acclaimed free inventory management system. It provides a unique double-entry inventory system. Also, it empowers easy internal operations in great capacity. You can improvise your stocking methods and can track every stock movement from purchases to sales orders. You can create customized dashboards to remember the key information. Odoo can help you generate real-time progressive reports. You can save and share these reports with anybody.

2. ABC Inventory

ABC Inventory is a free inventory software designed to optimize stocks from procurement to storage to sales. The software monitors inventory in multiple warehouses, tracks sales order lifecycle -from delivery to payment, and simplifies inventory management using interactive ROI and reports. Perfect for small and midsize businesses, ABC’s free inventory-tracker is a robust solution with an impressive range of features. ABC Inventory management ensures flexibility and enables on-the-fly customizations for your specific needs. Besides a raft of benefits, the software can be installed on a number of workstations and the database has no limit for the number of records.

3. Stockpile

Stockpile is a free online inventory management system designed to assist small enterprises and at home users with sales recording, inventory tracking, location management, and reporting. Stockpile simplifies inventory management and makes it quick and easy. Besides an incredible feature-set and unmatched free support, the software enables companies to manage users through a tiered access model while administering locations, shelves, manufacturers, and preferences. Stockpile open-source inventory management software comes with a reporting module that provides businesses access to invaluable inventory turnover details. Stockpile’s impressive feature- set makes it a go-to choice for online inventory management.

4. inFlow On-Premise

inFlow On-Premise is a desktop-based inventory management software suitable for small and medium-sized enterprises to monitor inventories. Part of the feature- set includes filling out customer orders, reordering stock, producing purchase invoices, and generating custom reports. inFlow On-Premise free inventory software is by far the easiest way to run and manage your product-based business. The software is designed for a wide range of businesses and sectors, including wholesalers, retailers, suppliers, healthcare, eCommerce, and government. Hosted locally, it streamlines workflow by putting products and profits in one place and offers enhanced visibility. inFlow inventory software synchronizes data over a local network to ensure users stay in sync even without the internet.

5. PartKeepr

PartKeepr is a free and open source inventory management software. It offers rapid scanning of databases, stock reordering tools, and stock tracking tools. The software offers a clear overview of the products at your disposal, and the blazing-fast part search makes it an excellent inventory tracking tool. PartKeepr enables companies to enter all pertinent data sets and parameters of parts that they require. Besides a range of incredible features, the global stock history view allows businesses to view any changes or removals from the entire inventory. Usability is central to PartKeepr. The software offers a tailored layout to meet user-specific needs and provides an enhanced experience.

6. ERPNext

ERPNext is a free multi-lingual inventory management software designed to efficiently meet all inventory tracking needs. It helps small and growing businesses effortlessly track and seamlessly manage inventory across multiple channels and devices. This free inventory management system comes with a centralized dashboard that offers a bird’s eye view of the entire inventory and is the most efficient stocking method. Whether it's implementing quality inspections or maintaining multiple price lists, ERPNext can be tailored to your business requirements. ERPNext helps manage orders and warehouse transfers from a single system and makes returns easy and smooth to process.

5 Best Manufacturing Inventory Software

Manufacturing Inventory Software is designed to help manufacturers track inventory levels for optimal production and distribution of goods. Inventory is central for businesses dealing with physical products, and efficient inventory management helps manufacturers save money and improve operational efficiency. A robust manufacturing inventory management system assists companies in seamless management of production, inventory, clients, and transactions. This is done using various methods to automate and control inventory. Manufacturing inventory software dramatically improves efficiency, eliminates errors, and streamlines the manufacturing process. These tools are flexible and can be tailor-made to meet your needs. Listed below are the top manufacturing inventory management systems. Please take a look...

1. Fishbowl Manufacturing

Fishbowl is a manufacturing inventory management software designed to help manufacturers save money and operate more efficiently. It is an invaluable tool that helps in streamlining the manufacturing process. Tracking inventory levels in real-time and monitoring inventories in multiple warehouses can be efficiently managed from one centralized solution. The variety of modules allows close monitoring of virtually any aspect of physical asset tracking. Fishbowl’s unparalleled ease of use makes it incredibly effective software for manufacturing inventory. The sales module of the software allows for effective tracking of lead times as well as sales item forecasting, ensuring you are never behind on the available inventory.

2. MRPeasy

MRPeasy is a cloud-based manufacturing inventory software suitable for small and medium-sized manufacturers. This Manufacturing Resource Planning( MRP) software is advanced, user-friendly, and helps businesses to stay on top of their stock and inventory. MRPeasy’s all-in-one manufacturing software assists users in seamless management of production, inventory, clients, transactions, finances, and team. The software helps manufacturers stay organized with effective manufacturing planning and reporting, real-time inventory analysis, accurate and timely deliveries, and offers a complete business overview. This simple solution comes with a CRM feature that helps businesses easily access all customer details, account transactions, and history.

3. IQMS ERP Software

IQMS manufacturing inventory management system provides manufacturers with a single solution to track and monitor the entire manufacturing process. IQMS is an all-in-one manufacturing and ERP solution that encompasses every important function. It allows businesses complete management and control over all aspects of manufacturing including supply chains, workflows and processes, accounting and payroll, and scheduling. This software can be customized to suit different manufacturing operations. The software is available as either a cloud-based or on-premise solution, making it accessible to a variety of businesses. The software uses real-time data to respond to fluctuations in customer needs and enables companies to examine how the production process actually works.

4. NetSuite

NetSuite is a robust, comprehensive, and easy-to-use manufacturing inventory control software. It offers unique capabilities in tracking inventory across multiple locations. Besides helping manufacturers with integrated inventory and warehouse management, the program also assists in demand and distribution requirements planning. Netsuite is offered as a cloud-based solution and can be used by manufacturing businesses to manage production orders and ensure base restocking inventory level. It offers a multitude of tools to automate operations. NetSuite’s Inventory Count Functionality results in increased accuracy of inventory levels. The software offers native tools such as easily navigable hierarchical dashboards, multi-location planning, and custom process workflows to monitor stocks across locations.

5. ERPAG

ERPAG is a cloud-based manufacturing inventory software for small businesses and mid-sized enterprises. This enterprise resource planning (ERP) solution comes with an impressive feature-set that includes sales management, purchasing, manufacturing management, accounting and finance, inventory management, and reporting and analytics. ERPAG manufacturing inventory software is sophisticated, intuitive, and easy to use. The program is flexible and can be tweaked and tailored to fit the requirements of your business. The software is equipped with small business marketing and offers a full range of business process applications. From MRP, inventory management, POS (point of sales) to financial reporting, ERPAG offers a comprehensive business system and captures the traditional desktop ERP experience.

5 Best Retail Inventory Management Software

Retail Inventory Management Software is suitable for all types of businesses, from small retailers, big enterprises, and multi-channel retailers, to name a few. Retail inventory management software helps businesses maintain accurate stock-level counts. The best retail software keeps track of costs, orders, deliveries, locations, and cash registers across multiple channels through a POS (Point-of-Sale) system. Inventory levels across locations are automatically updated. A retail inventory system offers a range of other features such as product analytics, integrated shipping, and order fulfillment management. One of its key features is to enable retailers to create multi-channel loyalty programs to encourage repeat purchases. Mentioned below are some of the top retail inventory software. Please take a look...

1. Lightspeed

Lightspeed is a cloud-based retail inventory software that simplifies time-consuming tasks such as inventory management and employee control. With a fully integrated eCommerce platform, multi channel loyalty and contactless payments, Lightspeed’s advanced POS is designed for the future. The software synchronises products across channels and keeps track of inventory from one retail POS system. Lightspeed retail is perfect to turn one-time shoppers into loyal customers through omnichannel loyalty. It allows retailers to craft a tiered rewards program to encourage repeat purchases. Lightspeed’s smart inventory management tool monitors all that contributes to your success with real-time analytics and built-in retail reports.

2. Brightpearl

Brightpearl is a retail inventory management software specially designed for retail business models and multichannel retail brands. The all-in-one inventory and order management software streamlines inventory tracking with a system that combines inventory, sales, execution, warehouse management, purchasing, CRM, accounting, reporting, and POS. With a powerful workflow automation functionality, the program allows users to seamlessly manage multi channel inventory management, multi-location inventory control, and automate repetitive tasks. The software provides a complete inventory overview across all stores, both online and physical sites. Inventory levels at any location are automatically updated and it provides a range of other features such as product analytics, integrated shipping, and order fulfillment management.

3. Stratus Enterprise

Stratus Enterprise retail inventory system is a comprehensive cloud-based software designed for real-time management of all retail channels through one system, and on one master database. It combines high-end features with elegant simplicity and provides a streamlined solution to retailers. Stratus’s retail inventory management software offers tight control of the inventory across all locations, including supermarkets, warehouses, and more. The software offers a suite of tools such as Open-To-Buy and ERP that helps businesses reduce inventory overheard, improve efficiency, forecast stock levels and automate reordering. Stratus’s right POS integrated with the right online and in-store inventory systems expedites fulfillment and provides enterprise-wide visibility and automation.

4. Square for Retail

Square for Retail is one of the best-known retail inventory management software for small businesses. Not only is it one of the best value POS systems, but the software can be tailor-made to suit your business requirements. Square for Retail is a cloud-based point of sale (POS) system with a brilliant feature-set such as inventory management, customer relationship management, and reporting and employee management. The solution comes with integrated payment processing as well as integration with all Square hardware. Designed to boost sales and cut costs, Square’s point-of-sale solution for retailers offers a suite of smart tools, right from tracking sales and inventories to rich analytics.

5. iVend Retail

iVend Retail is an omnichannel retail inventory management system encompassing everything, from point-of-sale (POS) to back office to head office operations. Designed to deliver superior customer experiences throughout the shopping process, the software provides accurate, real-time visibility into inventory levels and helps you stay at the top of your game. The software provides complete inventory visibility throughout the business and allows users to check stock levels from anywhere in the store. With iVend Retail, product SKUs can easily be managed and priced across all channels and customer groups. It provides highly accurate stock counts and performs cycle counts effectively. One of its key features includes creating multi-channel loyalty programs for both new and regular customers.

5 Best Multi-channel eCommerce Inventory Management Software

Multi-channel eCommerce inventory management software assists companies to sell products across different channels of distribution. A multichannel eCommerce software is designed to simplify omnichannel eCommerce and enhance consumer engagement. Multichannel inventory management is an invaluable tool when you sell across various sales channels, marketplaces, and online stores. The software provides accurate sales forecasts and perfect inventory management that leads to improved performance and efficiency. A multichannel eCommerce platform offers more avenues for sales and boosts customer loyalty. The best eCommerce inventory management software enables businesses to upgrade their inventory management capabilities, monitor inventory across all stocking locations and channels, and improve transparency. Listed below are the top multi-channel eCommerce inventory management software. Please take a look...

1. ecomdash

ecomdash is a multi channel inventory management software designed to assist small and midsize online businesses to track manufactured items, serialized inventories, variations, and bundled items. This web-based tool automatically synchronizes eCommerce data across multiple sales channels, manufacturers, warehouses, vendors, partners, and dropshipping services. Some of its key features include automatic inventory sync, distribution, and channel-wise purchase management. The software allows users to manage inventory more effectively across platforms and provides real-time inventory updates for an unlimited number of channels. ecomdash consolidates multi-channel orders from a centralized dashboard and allows better control of multi-channel product listings.

2. Stitch Labs

Stitch Labs is a multichannel eCommerce inventory management software designed for medium-sized retailers looking for complete visibility and scalability to centralize and simplify inventories and operations. Stitch Labs helps businesses boost the sales potential of their inventory, respond quickly to operational demands, and control inventory from one place. The software updates stock across multiple channels automatically and can be integrated with eCommerce platforms, marketplaces, POS inventory software, shipping, and fulfillment systems. Besides providing multichannel inventory visibility and control, the software comes with myriad features that help retailers cut costs, maximize profitability, and smartly scale omnichannel operations to meet customers’ needs.

3. Sellbrite

Sellbrite is an eCommerce inventory management software that offers a suite of features such as order management, product management, channel analytics, and inventory control. Suitable for small and midsize businesses, Sellbrite offers tools and automation to optimize a listing, prevent overselling, and accelerate fulfillment. The program offers centralized inventory management with a user-friendly interface. Sellbrites cloud-based, channel management platform can be integrated with popular marketplaces such as Amazon, eBay, Walmart, Etsy, Shopify, and others. Sellbrite personalized reporting and dashboards track and monitor available stock and inventory rates across multiple warehouses and channels. The software’s multi-warehouse automation renders businesses flexibility. Sellbrite is offered on a tiered subscription basis.

4. Zoho Inventory

Zoho Inventory is a multi channel inventory management software designed for small to midsize businesses to streamline multichannel selling, improve efficiency, and fulfill orders rapidly. The cloud-based solution from Zoho optimizes inventory and order management from purchase, packaging, to payments with multi-channel selling, delivery integrations, and effective inventory control. Zoho Inventory can be integrated with multiple E­commerce sites such as eBay, Etsy, and Amazon. The software comes with a powerful analytics, reporting kit, and an impressive feature-set, which includes inventory replenishment to prevent stock-outs, full order fulfillment and management, billing and invoicing, diverse selling channels, and much more.

5. SkuNexus

SkuNexus is an order management and stocking software suitable for mid-market and enterprise businesses to scale orders, inventory, distribution operations, and processes. By giving access to the source code of the platform, SkuNexus provides customizable control, performance, and scalability. The software allows physical stores and warehouses to track inventory in real-time. SkuNexus forecasts future inventory demands and makes accurate predictions using real-time data. The software’s feature-set includes real-time inventory, quick omnichannel fulfillment, and development of custom workflows. For modern, fast-growing brands and retailers, SkuNexus is an ideal solution to avoid the pitfalls of sales management and sell efficiently across multiple channels.

Types of Inventory Management Software

An inventory management system can integrate all the tasks associated with any organization with the best technology solutions in terms of shipping, purchasing, ordering, receiving, storage of inventory, tracking, turnover, reordering, etc.

A solid strategy is very much needed to run the supply chain system effectively that operates daily. There are multiple inventory management applications available and it’s difficult to choose the right one at the same time that must fit inside your needs. If you are looking for the best inventory software, you need to understand the types of inventory software. Let’s understand the major types of software.

There are mainly seven different types of inventory management systems that can be suitable for any size of businesses out there:

› Periodic method

This sort of inventory management system works fine when the inventory data gets entry into the system and it’s well-suited for small-sized businesses to maintain the lesser quantity of goods. For sending data periodically to the inventory system, the periodic method is adopted and it is a good one for heads starting with small businesses.

There are also some disadvantages to this system:

If a count doesn’t appear then no information will be sent to you regarding sold goods costs or inventory balances.

This drawback will generate another drawback of significant adjustment when the complete count occurs.

At the time of countless sessions, there will be no accountability in terms of obsolete inventory & scarp losses.

Even with the drawbacks, to be on the top of inventory management strategies, you don’t need large cycle counts & your strategy will be better for small & mid-size businesses.

› On promise inventory management system

Covered under the single license & usually hosted on the local server of the client. The on-promise inventory management system is a bit expensive due to the complicated setup & little hardware installation.

› Barcode systems

For finding & moving stocks easily & with better efficiency, mobile-based scanners & barcode systems are useful. You can have quick, efficient, and easy transfer options for shipping, packaging, and picking.

› SaaS inventory management system

The software as a service inventory management system typically hosted on the server of the vendor & has some monthly paid subscription. As an owner, you don’t need to follow updates, maintenance & installation work.

› Cloud-hosted Inventory management system

With free basic plans, the cloud-based inventory management system is highly affordable & can be taken globally. You neither need updates nor any fee for the maintenance.

› RFID tagging systems

Without any sort of assistance from employees, this system can efficiently scan your products, but at the same time, it can be more expensive. However it might suffer from the interference problems and also transitioning with the RFID can be costlier for suppliers, transport companies, and even for consumers.

› Perpetual systems

For the continuation of inventory records, the perpetual method is the most significant. One of the beautiful advantages of the perpetual inventory management system is to have better information about the inventory level and also lowered the number of physical counts.

If you wish to send data constantly to your inventory system then this approach is better suited and it is very much comfortable for the large size businesses. It can save money & time by not going further for the stock levels with better updates.

To make it very efficient, you need to have the strong support of the inventory management system & further subsystems. However, along with the benefits, there are some drawbacks too:

You need to rely on special-purpose inventory management software or tools and it comes with the high pricing.

You should be up to date with this system & it all depends on deployment.

Recorded & actual inventory might be different so this will generate multiple discrepancies.

It can be a hard task to select the suitable one as per the need & condition as there are multiple factors presented like: benefits, pricing, features but at the same time, it is just a start line that you have to cross.

Through the help of a better inventory control system, your business will get more profit and you can be competitive in the business environment. So it’s time now for you to focus on the real-time tracking with the cloud-based inventory system.

Why does a business need Inventory Management Software?

Inventory software works as Inventory Tracking software for business that deals with either of these-production, shipping, warehousing, trading, ordering, assembling, or storing. A business never wants to oversell a product or end up suffering from backorders. Inventory control software is a perfect solution for the company to make sure that the stock is full or needs to be restocked. Critically a business chooses to implement Inventory Management software due to the following benefits;

A Better understanding of stock movements that enables reduced stock level requirement and lower warehousing costs.

Higher consumer satisfaction through visibility of stock level and proper delivery.

Minimization of theft or loss due to proper visibility of stock.

Intelligent inventory tracking system that decreases expenses related to picking, packing, or shipping of inventory.

What are the features that make the perfect Inventory Management Software?

› Inventory Costing

Inventory system software establishes the cost value of inventory and manages profitability through cost accounting methods that include LIFO, FIFO, Average costing method and others.

› Location Tracking

Supports in improving inventory loss prevention by keeping a track of inventory picking, packing, and delivery.

› Stock counting and tracking

Inventory tracking software enables in marinating stocks and keeping a track of the goods. It provides an analyzed report of the hands-on units in the warehouse.

› Product categorization

Perfect Inventory management system software enables product categorization for advanced tracking of products. The categories may be customized according to size, product type, shapes, price category, weight, height, batch code, serial number, and date of manufacturing.

› Search and filter

Inventory system software must be efficient in searching for products based on specific filter options such as location, serial number, and batch code or product type.

› Advanced features

Some of the features that make perfect inventory management software may include price management, billing of materials, inventory audit management, kitting, color and size specification, cost tracking, unit of measure conversion, catch weight tracking, back order tracking, and quality metrics.

What factors must be considered for buying the best Inventory Management Software?

› Integration with accounting software

Inventory control software and inventory audit management are crucial functions that are fuelled with accounting software integration. Always look for software that has integration features and works well with accounting software installed in your system. Ask your vendor to integrate or look for third-party solutions.

› Cost of ownership

Various vendors charge differently for the software, based on product support, data storage, implementation, training, additional features, upgradation, and others. Always look out for the features that you are getting for the price. Calculate the cost of ownership before purchasing your inventory software.

› Cloud-based

Most of the advanced software’s have cloud-based capabilities which are also an added feature. If you are investing in inventory management software for small business, you might not require this feature. However, for medium or large scale business, having cloud-based software can be profitable. Users can access inventory details irrespective of location, hence the sales may not restrict to a particular location only.

What are the benefits of Inventory Management Software?

› Manages products for sales success

A Business that deals with sales have to manage stock in order to meet customer’s demand. Simultaneously, it is not easy to have extra stock on hand. Without proper management software, companies may end up overstocking of products, hence ending up blocking cash resources, incur warehouse expenses, and create losses due to sale by restrictions. Inventory management system solution offers a comprehensive solution by controlling products, maintaining prices and eliminating cash resource blockage.

› Automates inventory tasks

Gone are the days when business maintained inventories in books of records. Such traditional methods were time-consuming and ended up with errors. Inventory control software automates the complete management with its advanced tools. Business can now integrate the software with books f accounts-meaning purchase; sales can be automatically integrated with warehouse records. Companies can now easily now when there are purchase or sales and the exact items available in stock.

Additionally, there are the enhanced features played by inventory control software which are beneficial for the companies;

Lowers incidents of theft

Improved supply of goods due to the visibility of stock

Improved financial performance of business due to calculated sales and purchase

Accurate reporting of financial accounting and inventory management

Eliminates storage issues

Automates repeat purchase

Monitors stock transfers, purchase, and shipping

What is the cost of Inventory Management Software?

Vendors charge for Inventory management software depending on the number of users, a number of warehouses, and level of inventory records, additional features, and deployment method. It also includes the cost of integration, training fees, upgradation, and annual subscription charges. The upfront prices may start from $40 per month and go up to $500 depending on the vastness of business requirements.

Conclusion

A good Inventory Software Solution will automate companies’ work process, setup order quantities, and trigger sales force. Inventory data is equally important as financial data to make business decisions. A business must choose comprehensive inventory software that helps in understanding consumer demands, areas that need attention, eliminate the overstocking, reduction of resource waste, and boosting the company’s profit through better sales strategies.

Frequently Asked Questions (FAQs)

What is meant by inventory management system?

Streamline your inventory with inventory management software. You can easily monitor, optimize, and control your inventory through the software. The software is also helpful to improve supply chain efficiency. You can audit and manage your inventory effectively through inventory management software. Let’s understand some important features of the software.

What are the features of inventory system?

  • Asset tracking
  • Inventory optimization
  • Search/filter
  • Inventory auditing
  • Inventory Control and forecasting
  • Stock notifications
  • Product identification
  • Product categorization
  • Barcoding & Scanning
  • Purchase order records
  • Actionable inventory analysis
  • Multi-location management

What are the advantages of inventory management software?

  • Improved Efficiency
  • Saves time & money
  • Improved accuracy of inventory orders
  • Enhanced inventory tracking
  • Minimizes inventory theft
  • Organized Warehouse
  • Minimize Inventory Cost
  • Maximize Sales & Profit
  • Automation
  • Maintain customers' need
  • Improved financial reporting

What is the best software for inventory management?

  • Zoho Inventory
  • TradeGecko
  • Stitch Labs
  • Sellbrite
  • Lightspeed POS
  • Orderhive
  • EZOfficeInventory
  • ecomdash
  • Finale Inventory
  • Primaseller
  • DEAR Inventory
  • EZRentOut
  • NetSuite
  • Multiorders
  • Zenventory

What is the best free inventory management software?

  • Odoo
  • PartKeepr
  • Stockpile Inventory Management
  • Skyware Inventory
  • Delivrd

How much does a inventory management system cost?

The software can begin around $29/month/user to $52/month/user.

 

Share the Good News!

Top INVENTORY MANAGEMENT SOFTWARE

If your Software is part of this list, use this badge on your website and social media to let your readers know about your success.