Best Inventory Management Software of 2022

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ShipBob

Customized pricing
Cloud-based system
Tracking and control features

ShipBob is an order fulfillment solution that has built-in inventory management software. It offers management and monitoring of inventory to ensure the sustenance and consistency of supply chain management in online, omnichannel, and brick-and-mortar businesses.

It helps in setting the minimum quantity of each product that must be on hand that signals it’s time to order more inventory in order to prevent stockouts. It follows the principle of “First-in, first-out,” aka FIFO, which is an inventory management principle that ensures the oldest inventory (first-in) gets sold and shipped out first (first-out). It makes life easier for budding entrepreneurs as it automates and streamlines the process by tracking inventory levels, orders, sales, and shipments across channels and locations. ShipBob has global reach with warehouses in US, Canada, United Kingdom and Australia.

It is also equipped with reliable fulfillment services, strategically located warehouses, and connected technology that powers the fulfillment network. It helps in improving transit times, shipping costs, and the delivery experience for customers. Merchants get the tools, guidance, and reporting necessary to efficiently manage their inventory across multiple stores and ShipBob’s fulfillment centers.

Pros & Cons

ShipBob is a reliable software that offers several solutions for entrepreneurs. It has been helping businesses to grow and act as a medium to communicate vision and branding towards their customers.

Pros

Offers a free trial
Includes shipping calculator and tracking
Inventory

Cons

No mobile app

What Customers Are Saying

One of their satisfied clients mentioned, "ShipBob’s software lets us track inventory change and velocity over time. Being able to monitor which styles are selling quickly helps us always keep our best sellers in stock. We’ve been able to get through our heaviest seasons while staying ahead of production using ShipBob’s inventory forecasting tools — even as our order volume more than quadrupled in less than a year.”

Summary

ShipBob

Starting Price
- Receiving: $25 for the first 2 hours, then $40/person/hour
- Storage: $40/pallet/month, $10/shelf/month, $5/bin/month
- Pick and pack: Free for 4 picks/order, then $0.20/pick
- Standard packing: Free packing resources available
- Shipping: Custom Quote
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Customized pricing
Cloud-based system
Tracking and control features

Zoho Inventory

iOS and Android mobile app
Integrations
Automations

Zoho Inventory is a standalone software program that integrates with the rest of the company’s portfolio of business management tools, and it can also stand alone. The program’s goal is to increase clients’ sales and streamline their businesses through centralized tracking, stock management, order fulfillment, and inventory control.

The software’s features and benefits include:

Item management - provides the ability to group, customize, manage and track items
Customer lifecycle - provides streamlined control and management of sales orders from the time they are placed through invoicing, packaging and shipment
Vendor relations - centralizes all vendor transactions and bills so that purchase orders and billing remain standardized. Facilitates custom vendor price lists and automates backorders and drop shipment rules
Integrations - robust list of third-party app integrations for shipping, commerce, accounting, CRM, and more
Automation - barcode scanning, webhooks and custom functions, email and update fields
Smart features - reporting and analytics, SKU generator, reorder points, iOS and Android app

Pros & Cons

Zoho Inventory’s obvious advantage is its integration with the rest of Zoho’s mature family of business software. As a standalone it is particularly helpful for small-to-medium retail operations but may fail short for manufacturing operations or large businesses. It is easy to navigate and learn, is affordable, and has strong e-commerce capabilities.

Pros

Affordable and easy to use
Point of sale feature
Mobile app for iOS and Android

Cons

Lack of robust customization

What Customers Are Saying

“I really love that Zoho allows you to zoom in on your operations and manage them on a micro-level. You can check the items that you have in stock and how many are left. If you want to get a quick glimpse at your inventory, Zoho makes that possible too. The reports that we get after everything has been completed are pretty thorough and insightful as well.”

Summary

Zoho Inventory

Starting Price
- $49 Basic
- $99 Standard
- $249 Pro
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
no

Features

iOS and Android mobile app
Integrations
Automations

NetSuite ERP

Cloud-based
Multiple modules can be added
Automation of repetitive functions

NetSuite ERP is a cloud-based software package that provides businesses with the informational tools that they need to help their businesses grow and perform at a much higher level. The software is designed to simplify financial processes, share information, streamline workflow and automate the functions surrounding supply chain management, and in doing so to gather the information that companies need to make better-informed future decisions.

ERP systems are designed to organize data from various sources and simplify processes by automating workflows. In doing so they improve productivity and lead to savings. NetSuite ERP is a remarkably robust ERP. It is fully customizable and is available with basic modules and more advanced functions to meet an individual business’s needs. At its simplest, its key features are seamless integration with other applications and platforms, powerful built-in business intelligence, front-and-back-end office process automation, and better demand planning and warehouse management.

The program’s features include:

Financial Management tools that facilitate better decisions through built-in business intelligence
Financial Planning aimed at inviting information from more users, thus gathering more information that improves budgeting and forecasting
Order Management system that that introduces greater collaboration and information sharing between sales, finance and fulfillment, leading to smarter, more informed pricing, sales order and returns management
Production management that digs into the process to boost how quickly and efficiently products are brought to market
Supply Chain/Distribution Management tools that centralize all areas supporting the function
Warehouse and Fulfillment management that provides real-time information regarding inbound and outbound logistics and reduces costs
Procurement that optimizes accuracy, best practices and lowest costs

NetSuiteERP can be expanded with the introduction of new modules and capabilities as organizational needs grow.

Pros & Cons

Netsuite ERP is fast, effective, and efficient. It introduces automation to purchase orders, invoices and reports, provides tracking that keeps people accountable and provides everybody in the organization with access to the information that they need in real time. This cuts down on time-wasting correspondence and inquiries. The system stores documents like invoices, cutting down on paperwork, and the fact that it is cloud based makes all of its functions available from anywhere, on any device. Customer service is great, which is important because there is a lot to learn. Also, customization is available, but not as simple as it seems.

Pros

Clear view of entire supply chain
Great reporting capabilities
Automation of repetitive functions

Cons

May be difficult to customize
Steep learning curve

What Customers Are Saying

“The ability to customize just about anything your organization wants is rewarding. And if you are willing to spend, you can have your system fit your business processes like a glove. Integration apps, along with native functionality of workflows can put your business in a “semi-autopilot mode.” Practically limitless reporting capabilities. I would recommend for enterprises with no less than 8M in sales and with at least 8 or more users to leverage the full functionality of this role-based system. Netsuite is built to fit the needs of each role within your organization, from the sales rep and warehouse manager to the A/R clerk and controller.”

Summary

NetSuite ERP

Starting Price
- -
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Cloud-based
Multiple modules can be added
Automation of repetitive functions

Clear Spider

Barcodes and RFID Scanning
Integration
Reports and analytics

Clear Spider’s cloud-based inventory management system provides powerful capabilities and a robust suite of features in an easy-to-use, intuitive program. Real-time information from any location worldwide facilitates quick decisions and better planning that cuts costs and makes operations far more efficient. The system organizes, tracks, and documents all inventory processes into a centralized database.

While the system can manage complex supply lines and product portfolios, the system’s ease of use is apparent from the time that it is ordered: with no hardware or software installation required it is quickly downloaded from the cloud. Users find it extremely simple to navigate and can customize its features to suit their own specific needs and scenarios, eliminating functions that they don’t use and adding those that they do from an extensive list of options.

To facilitate the system’s ease of use and flexibility, 35 web services have been identified and used to help clients integrate Clear Spider with any cloud-based software and ensure smooth and secure transfer of information either in real time or in scheduled batches.

Pros & Cons

Clear Spider cloud-based software requires no hardware or software installation with customizable features and a centralized database that make it easy to use and set up. Though, it doesn’t have the ability to create customized reports like some other available software.

Pros

Centralized database
Back-end support
Ease of use and implementation

Cons

User interface
Inability to customize reports

What Customers Are Saying

“CSI has created many efficiencies in our inventory management — most pertain to making inventory data digital and accessible across the company. The User/Company/Program relationship has been very important in our business because various business groups need ways to segregate their data from others. The order processes and to-do list assignments have created individual accountability in workflows where there was none before.”

Summary

Clear Spider

Starting Price
- -
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Barcodes and RFID Scanning
Integration
Reports and analytics

Kechie

Multi-Warehouse Management
Barcoding
CRM Module

Kechie is a highly flexible all-in-one platform that combines manufacturing and inventory management with financial management, sales and CRM. Users across the entire organization are able to access, add to, and use its information. This eliminates redundancy, enhances understanding and collaboration, and creates an improved workflow.

Though Kechie provides a comprehensive, collaborative program that includes every department that touches distribution, its main focus is undoubtedly on inventory. Its features allow companies to track, manage multiple warehouse locations, organize inventory levels, provide cycle count, and generally improve the way that they deliver for their customers. At the same time that it increases efficiency, it also provides an audit trail of all transactions.

The program is cloud-based and accessible from any device, allowing seamless integration with web-based ecommerce platforms and business productivity software. It is highly scalable, with flexible fields that can be adjusted by management and users to accommodate a business’ unique needs and growth, and the company’s customer support wins high marks for going above and beyond to modify the system to provide a customized platform.

Kechie includes a customer relationship management module that allows individual customer interactions and the entire sales pipeline to be monitored and analyzed. It also offers fully integrated modules for other key functions within a manufacturing environment, including procurement logistics, finance, BOM, and more. The systems all work together, providing improved control, visibility and efficiencies and collecting data to inform accurate forecasting. The program includes detailed reports that can also be customized.

Pros & Cons

Kechie’s software ties all aspects of a manufacturing organization together, encouraging collaboration. It has an easy-to-navigate, intuitive interface that has all of the functions that most operations need, and the customer support team works with clients to provide whatever they need. The program ends up being totally customized.

Pros

Cloud-based, access from anywhere
Consistent upgrades
Great customer support

Cons

Importing user data requires assistance
No budgeting function

What Customers Are Saying

“We are a small to medium size company that is very quickly growing to a large company. We needed a solution to seamlessly tie all facets of our operations together. We evaluated numerous solutions to our problem and our management team decided that Kechie/MyOfficeApps was our go forward partner. We have implemented Kechie and it has helped us to almost double our business, without additional headcount. It has provided us a tool to develop business processes that in the past were highly manual and time consuming.”

Summary

Kechie

Starting Price
- -
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Multi-Warehouse Management
Barcoding
CRM Module

Acctive Inventory Management

Bar Coding Software
Inventory Forecasting
EDI Management Software

Acctivate is a program specifically created to provide a robust inventory management system to businesses for which Quickbooks’ basic functions are no longer enough, but which want to remain with the popular program for accounting. Acctivate integrates seamlessly with Quickbooks while providing purchasing, order management and business analytics capabilities simply and at an affordable price.

Acctivate eliminates manual inventory counts and spreadsheets, allowing users to automatically track any inventory that is lot and serial numbered. It also provides purchasing, warehousing, and customer service users with access to real-time information including online, offline and EDI orders as well as inventory. Its automated processes and improved order accuracy results in the elimination of errors and out-of-stocks and improved purchasing, leading to organizations realizing improved profitability and more satisfied clients.

In addition to integrating with QuickBooks, Acctivate also works with leading shopping cart providers, Crystal Reports, productivity and document storage solutions and EDI translation software.

Pros & Cons

Acctivate offers growing businesses the ability to expand their inventory management and related capabilities while still remaining with QuickBooks. The migration of inventory information from the popular accounting program is painless. The system’s reporting function leaves many clients needing to spend additional money for specialized reports, but clients are generally satisfied with the program’s functions.

Pros

Intuitive interface and easy to customize
Mobile//handheld support
Migration from QuickBooks

Cons

No audit trail/tracking/reporting
Need third-party for special reports
Can’t restrict certain permissions

What Customers Are Saying

“Acctivate is perfect for QuickBooks users that need a better inventory and sales order process. It is a bolt-on product. You just “sync” it whenever you want to have QB and Acctivate talk to each other. It makes managing inventory really easy and gives you a ton of room and vendor history so you can manage your costs.”

Summary

Acctive Inventory Management

Starting Price
- $4
- 995.00/one-time
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Bar Coding Software
Inventory Forecasting
EDI Management Software

Cin7

Customized pricing
Cloud-based system
Tracking and control features

Cin7 is a cloud-based, all-in-one inventory management solution suitable for retail and wholesale businesses. The system is designed to be flexible, accommodating different inventory systems and providing solutions for unique criteria including business size, role, business type, and industry.

Cin7’s programming anticipates a variety of needs. For companies dealing with multiple complex integrations it offers EDI and 3PL Integration, Multiple Sales Channels, Complex Order Management and other features including price tiers, volume pricing, contract pricing, and order automation between connected Cin7 accounts. Advanced inventory features, workflow automation and channel integration facilitate omnichannels, while advanced reporting and analytics help companies put their data to work and make essential decisions in real time.

By facilitating over 450 integrations, Cin7 connects users to services, platforms and sales channels that provide real time views of sales, purchase, and stock level data. Users can track incoming stock, component stock, stock-on-hand, open-to-sell, on-hold/reserved inventory, and faulty stock. The system provides granular product management capabilities, including batch and serial number control, batch traceability, color-size variation, and stock allocation. Cin7 also includes a POS feature that can transmit and update inventory information via mobile devices.

The program is offered in a tiered pricing structure, scaled to a business’ individual needs.

Pros & Cons

Cin7 has impressive integration and real-time updating that allows business owners to track exactly what inventory they have where and respond to that information. Though the software is challenging to learn, its unique features are particularly appealing for retailers and wholesalers, and makes it a good value despite the relatively high cost.

Pros

Unique features and integrations
Great customer support
Advanced reporting

Cons

Steep learning curve
Cost may be prohibitive

What Customers Are Saying

“As a robust retail business with a very complicated inventory offering, this product excels at making it easier on our team to operate on a day-to-day basis. The complex manufacturing side was challenging, but with the help of the incredible Customer On-Boarding team, we got everything figured out. The team was able to customize our Dashboard, product modules, and Sales Orders to include everything we needed quickly and easily, tailoring this so specifically to our business and our customers.”

Summary

Cin7

Starting Price
- -
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Customized pricing
Cloud-based system
Tracking and control features

Stitch Labs

Two-way syncing
Integrations
Bundling

Stitch Labs is an operations management solution that allows multi-channel ecommerce operations to work from a single platform that provides control over inventory and orders. The goal is to streamline and automate the process and to provide invaluable insights by centralizing inventory information across channels and locations in real time. The end result is higher margins, reductions in manual inventory-related tasks, more effective purchasing and restocking and more effective sales.

Stitch Labs has assembled integrations with some of the most essential business solutions and channels in the ecommerce economy to ensure seamless operations and easy expansions. The system’s robust report generation function provides actionable insights about business performance and true cost of inventory for future planning, and strategies.

Stitch Labs aligns operations, merchandising and accounting with the five key functions that reflect their work:

Inventory Management — provides control and improved visibility of all sales channels, systems and fulfillment locations.
Order Management — automated advanced order management systems improve logistics and delivery to customers.
B2B Wholesale Management — management and inventory tools allow quick expansion.
Purchasing & Replenishment — streamlined workflows and data facilitate faster buying.
Fulfillment — reduced errors and elimination of manual work in warehouses and 3PL engagement.

Pros & Cons

Customers appreciate the all-in-one view of Sales, Marketing and Support and the easy accessibility from mobile devices. The software is affordable and offers many of the same functions as more expensive options. Support wins high praise, but many customers complain of limited customization, need to open too many screens, and slowness and bugs around integration.

Pros

User-friendly with multiple integrations available
Customer support

Cons

No mobile app
Some customer experienced slow syncing

What Customers Are Saying

“Stitch Labs is used internationally by our team to process orders across several different types of sales platforms (Shopify, amazon, wholesale, hospitality) and create invoices and keep track of payments. It helped us bring together in one system all our different sales platforms. It is particularly useful in regions like Europe that may have up to four different Shopify stores and three amazon platforms but ship from one warehouse hub.”

Summary

Stitch Labs

Starting Price
- $799.00/month
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Two-way syncing
Integrations
Bundling

inFlow

Barcoding
Customizable Reporting
Integration

Inflow’s cloud-based program combines purchasing, inventory, and sales functions into a single hybrid system that helps small businesses sell, manage, and restock easily and efficiently. The software encourages collaboration between the essential departments within your organization, helping you improve the effectiveness of your workflow and improve profitability.

Inflow allows you to track sales from your inventory software and have full visibility of what is in stock and what’s on order. You’ll be able to manage your inventory effectively and restock on time with purchase order functions available in the cloud, wherever you are.

Inflow’s featured capabilities include:

Manufacturing (quick kitting and assembly add-ons available)
Data Management (CSV import, CSV export, Data rollback and versioning)
Reporting (Graphs for key metrics, 13 unique sales reports, 7 unique purchasing reports 14 unique inventory reports, sales tax report)
Integrations (Shopify, Amazon, WooCommerce, Squarespace, QuickBooks Online, Zapier)

InFlow also sells a proprietary Smart Scanner for $549 This specially designed Android smartphone has a built-in laser optimized specifically for inflow Cloud, allowing anybody in your organization to generate mobile sales orders, to instantly check receiving against orders, to build and reconcile real-time records as stock levels change, and more.

The subscription to the program includes chat, email, and callback support.

Pros & Cons

InFlow’s features provide almost everything that a small business needs to improve their inventory management. Users particularly appreciate the pricing structure, the user interface and easy search, and the fact that it tracks through the entire workflow process. However, for more robust functionality like kitting and work orders, you need to use the desktop app, which only works on Windows.

Pros

Ease of use
Customer support
Pricing structure

Cons

Kitting/work orders need to use the desktop app, which is Windows only

What Customers Are Saying

“I have a small business with several products. I find the inventory control easy and useful. The input of data is simple, so I have all my customer information. The reporting is excellent, so I can find out stock, costs, sales etc at the touch of a button.The system is very user friendly. I am not very good at technical stuff, but I find inFlow easy to use.

Summary

inFlow

Starting Price
- $71/month
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Barcoding
Customizable Reporting
Integration

Katana

Manufacturing floor-level control
Sales order fulfillment
Purchasing

Katana MRP is modern manufacturing and inventory software for small and scaling businesses. Automate your workflows, drag-and-drop to prioritize orders, and see the availability of raw materials and finished goods in real-time. Make floor-level operations simple with Katana Shop Floor Control app, and connect popular e-commerce and accounting platforms, such as Shopify and QuickBooks, to automate sales order sync and invoicing and an open API for offers additional customizability.

Katana allows you to stay on top of your inventory. From raw materials to finished goods, it follows stock movements automatically across the production cycle and in multiple warehouses allowing you to maintain optimal inventory levels. Ensure end-to-end traceability and expiration date tracking with the batch and lot tracking feature.

Katana is extremely intuitive, with most users operational in a matter of days. Katana's color-coded dashboard allows you to navigate your business easily, from sales channels to manufacturing operations, and get an overview of your entire business quickly.

Other Katana features include:

Sync sales orders from multiple channels into a single dashboard to plan and prioritize production

Accurate automated costing based on the bill of materials and production operations

Purchasing module based on material requirements

Floor-level app for operators for task management, time and material tracking

Supports both made-to-order (MTO) and made-to-stock (MTS) workflows

Pricing is based on a two-tier monthly subscription fee, with additional charges for users and operators

Pros & Cons

Katana is an excellent jumping-off point for small manufacturing businesses. Although its features are basic and lacking some of the functions offered by more mature programs, its intuitive interface and integration with both e-commerce and accounting platforms provide everything that many businesses will need. The software is growing fast, and essential features and updates are released regularly.

Pros

Intuitive interface
Real-time inventory tracking in multiple locations
End-to-end traceability

Cons

No work-in-progress (WIP) tracking
Does not support images

What Customers Are Saying

"Great MRP for small manufacturers. I find that Katana saves a lot of time and makes it easy to track inventory. Saves me many 'counting' trips to different locations. Super easy to use, pricing is clearer and more streamlined than when we started. Support is great; not always the quickest but one to two days usually gets us a thorough and well-covered answer to our questions. You can send them suggestions, and they will tally them into their dev schedule. Saves a lot of time, and nice to be able to access it from any computer."

Summary

Katana

Starting Price
- $99.00/month
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Manufacturing floor-level control
Sales order fulfillment
Purchasing

Lightspeed POS

Social Media Integration
Integrated Shipping
Omnichannel

Lightspeed Retail’s cloud-based point of sale software allows retail businesses to streamline their operations. It provides a reliable, comprehensive system that facilitates transactions at the same time that it manages inventory and ordering. Business owners can use the system to quickly and efficiently create quotes and invoices, to place orders, to track job functions and time sheets, set up appointments, all while also using input information to generate dozens of highly analytical reports that guide future decision making.

The software is particularly helpful for today’s e-commerce businesses, which can take advantage of its ability to manage onsite and online inventory. The system collects data on customers as well as on the various channels through which their products are being sold, all in a cloud-based system that allows immediate access from any device, anywhere that the internet is available. The unique needs of e-commerce are recognized and accommodated with native SEO tools and a blogging system

Implementation is straightforward and simple and the company offers 24/7 support as well as personalized onboarding along with the cost of the subscription. Users can also purchase additional hardware to further enhance the system’s capabilities.

Pros & Cons

Lightspeed is easy to set up and provides almost instant improvement to the way businesses manage and track their inventory, sales, customer, and employee data. It is cloud based so that users can access or input information from anywhere that they are online, and it integrates easily with ecommerce platforms and other business applications. There are a few functions that clients would still like to see added and an unfortunate number of bugs that need to be addressed, but the software gets high praise overall, and so does their customer support.

Pros

Good analytics with 50 built-in reports
Free onboarding and unlimited support

Cons

Some may find the user interface confusing

What Customers Are Saying

“The best feature of LIghtspeed is the analytics package. As a senior manager you can spend a lot of time calculating your performance manually in excel. But the Analytics package takes care of all of that. It’s easy to see the performance of your inventory, employees and marketing at any time. There are also a lot of apps that work with Lightspeed that make it the most functional POS system I’ve used.”

Summary

Lightspeed POS

Starting Price
- $69.00/month Basic
- $99.00/month Starter
- $119.00/month Standard
- $169.00/month Advanced
- $229.00/month Pro
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Social Media Integration
Integrated Shipping
Omnichannel

ProfitBooks

Analytics
Multiple Currencies
Stock Control Features

Profitbooks is a simple and straightforward inventory management software package made for use by traders and manufacturers. The system is uncomplicated by high tech bells and whistles: instead it provides a cloud-based set of features that allow small businesses to automate and simplify their workflow and speed up the purchasing, fulfillment, and invoicing process.

Profitbooks provides businesses with a way to efficiently manage their sales orders and distribute the information throughout the organization without duplication of effort or inaccuracies. Orders can be organized and tracked according to the projects that they are associated with, making it easier to track costs and the fulfillment status of a specific project from recording raw material consumption to accounting for waste.

Organizations that operate their businesses out of multiple warehouses can assign inventory to different locations at the same time that a purchase is being made, saving time and introducing an enhanced level of collaboration to various stakeholders within the organization. Profitbooks’ centralized information provides real-time accurate measures of current stock levels, helping to inform engagements with suppliers and can introduce purchasing efficiencies.

In addition to inventory management, the program also includes modules to help increase efficiency through an associated robust invoicing and accounting system and to provide valuable insights via dozens of insightful reports. Accounts payables and receivables associated with projects can be tracked and recorded and at the same time the data from those transactions can be leveraged to guide future decisions.

Pros & Cons

Profitbooks is a straightforward inventory management system that provides small businesses with a simplified workflow. The system is cloud-based and designed for traders and manufacturers who need to improve efficiency and eliminate the types of errors that come with a manual system.

Pros

Business operations modules
Customer support
Affordable option

Cons

No mobile application
Reporting functions are minimal

What Customers Are Saying

“Profitbooks is the best inventory and stock management system for small to medium size businesses. Using Profitbooks you can easily manage multiple numbers of inventories and warehouses in a single place. Profitbooks offers you the ability to manage employees and run payroll in minutes as well as providing HR management tools that monitor employee leave and salary management. Employees can individually manage their leave request, time sheets and tasks and view their basic contact and bank details and salary details etc. I highly recommended Profitbooks.”

Summary

ProfitBooks

Starting Price
- $49.99 per month
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
no

Features

Analytics
Multiple Currencies
Stock Control Features

Primaseller

Online channel integration
Catalog management
POS functions

Omni-channel retail businesses are the target market for Primaseller, an integrated, cloud-based retail management solution that eliminates inefficiencies in your inventory and sales process and automates your workflow so that all of your orders are tracked, fulfilled and shipped efficiently, and cost-effectively. The system centralizes all of your fulfillment processes and manages inventory, making sure that your working capital is optimized by syncing real-time inventory with your website and across all channels, keeping warehouse levels at appropriate levels and automating reorder POs when low stock occurs.

Primaseller integrates with online marketplaces, accounting systems, shipping services and eCommerce platforms. It is sold in a progressive tier structure, with enhanced features and volume-based service offered as businesses scale up.

Primaseller’s primary features and benefits include inventory management, POS, order processing, online channel integrations, catalog management, customer management, accounting features, and security functions.

Pros & Cons

Primaseller’s centralized system and automation functions allow users to assign inventory for distribution in real time and ship orders easily, all from a single, cloud-based system. Customer support is excellent, and though there are features that many users are still looking for, the company is constantly pushing out upgrades.

Pros

Intuitive user interface
Responsive customer support
POS feature

Cons

Not as many integrations as other softwares
No mobile app

What Customers Are Saying

“Primaseller’s software has so many features to enable the smooth running of our company after searching everywhere for a software package that can communicate with Woo-Commerce, Quickbooks, and our shipping company etc, Primaseller most certainly ticks all of the boxes! Previously we had disjointed processes and now we can link to all of our packages which has led to the reduction in the work load significantly leaving us time to concentrate on new projects to expand our company.”

Summary

Primaseller

Starting Price
- $59/monthly Beginner
- $99/monthly Pro
- $299/monthly Advanced
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
no
Cloud Based
yes
Forecasting
no

Features

Online channel integration
Catalog management
POS functions

QuickBooks Desktop Enterprise

All-in-one inventory management and accounting tool
Automatic reordering
Location management

It’s hard to think of business software without QuickBooks coming to mind. Though many businesses prefer to invest in an inventory management software program that is dedicated to that function, QuickBooks Desktop Enterprise offers Inventory Management and Order Management features along with robust accounting and business management tools. Small and mid-sized companies are likely to find that there are many benefits to working with an all-in-one package that covers their inventory management needs while also facilitating general ledger and accounting functions.

Among the features that recommend QuickBooks are its customizable reporting and dashboards. Its inventory management and order fulfillment modules can carry the workflow process from the time an order is placed through to fulfillment and invoicing, and allows integrated tracking, advanced pricing controls, and job costing.

QuickBooks Desktop Enterprise has a well-earned reputation for its training and technical support, and its pricing levels accommodate growing companies as their needs scale up.

In addition to its renowned General Ledger and Accounting Features, QuickBooks Desktop Enterprise offers comprehensive integrated inventory management functions that include:

Inventory tracking
Automatic reordering
Location management
Manufacturing module

Pros & Cons

There are few inventory management systems that offer as many functions as you’ll find in QuickBooks Desktop Enterprise Software. Though it is known as an accounting and general ledger program, its inventory management features are robust, and there’s a lot to be said for combining its advanced functionality with solid CRM, project management, invoicing and accounting features. The program can get expensive, and may be too costly and too overwhelming for small businesses. Customer support is excellent.

Pros

Number of features
Excellent customer support
Reporting and analytics

Cons

Cost may be prohibitive for some businesses
Steep learning curve
PC-only program

What Customers Are Saying

“QuickBooks Enterprise Solutions works well if you are a company that buys and sells products. It is great at keeping track of quantities remaining from previous purchases and time periods, adding new inventory purchased, and subtracting inventory sold. We have grown as an organization and have not had any issue with scalability of the product.”

Summary

QuickBooks Desktop Enterprise

Starting Price
- $12/month Starter
- $20/month Essentials
- $35/month Plus
- $75/month Advanced
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
no
Cloud Based
yes
Forecasting
yes

Features

All-in-one inventory management and accounting tool
Automatic reordering
Location management

TradeGecko

B2B Platform
Mobile App
CRM

TradeGecko provides wholesale and multichannel businesses with an automated, integrated tool that organizes products, orders, payments, customers and business insights into one centralized system.

The system’s key elements include:

Inventory & Orders — System provides at-a-glance, detailed information and engagement regarding all inventory and ordering processes, including creating purchase orders, managing invoices, shipments, and paying, and viewing and adjusting inventory levels, tracking across multiple warehouses to enable selling across all channels.
B2B Platform — Makes selling wholesale easier, letting individual customers see personalized views of products, shipping options and pricing. Platform facilitates payments, tracking order status, and placing repeat orders.
Payments — One-click payments, view of account balance, payments and payouts on one dashboard. Integrates with popular payment platforms.
Automation — Frequent tasks related to ordering and fulfillment can be automated based on workflow, including routing orders based on region or available stock levels. Secondary warehouses can be part of automated rules to keep orders flowing, instant email notifications to customers or internal team members. System also includes templates for common workflow actions.
Integrations — System offers integrations with the most popular selling channels, shippers and business tools.
Reports and Insights — System includes demand forecasting reports and allows the creation of custom inventory and sales reports to track business performance and plan for growth
Mobile Sales App — Available for iPhone, iPad and Apple Watch. Features include a mobile catalog that can be updated from your device camera, ability to create, edit and manage sales orders, CRM function provides access to and editing of client and supplier information as well as addition of new. Offline additions automatically sync when online.

Pros & Cons

TradeGecko’s software receives consistently high marks for its features, functionality, ease of navigation, and overall impact on business operations. The company is also praised for issuing frequent updates of documentation.

Pros

Usability
Fast syncing
Bundling capabilities

Cons

Lack of customization for different users

What Customers Are Saying

“Our company maintains a list of online stores in Amazon, Shopify, and other sales platforms. This means that we also have to deal with lots of issues in our day-to-day operations, which, of course, includes inventory and sales. Doing things manually takes time, so we decided to invest in a platform that will help us monitor the movement of our products. TradeGecko is an all-in-one platform that we can depend on to ensure that all of our stores have sufficient stocks all year round.”

Summary

TradeGecko

Starting Price
- $39 Founder
- $79 Lite
- $199 Small Business
- $599 Business
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

B2B Platform
Mobile App
CRM

EZOfficeInventory

Integration with multiple applications
Customization
Mobile App

Business equipment and inventory represent an enormous investment for any business, and the bigger your business grows, the harder keeping track of them can be. EZOfficeinventory is a cloud-based asset and maintenance management solution that helps businesses manage the entire lifecycle of each item across multiple locations, departments and users, allowing greater control of where items are, their maintenance schedules, inventory levels, and more.

The program’s three main areas of focus are Asset Management, User Management and Maintenance Management, with reports and notifications for all three.
For Asset Management, the program’s features include Asset Lifecycle Management, reservations, purchase order tracking and updating, GPS location and RFID asset tracking, a label scanner and designer, and more.

For User Management, the program allows custom roles to be set up for specific areas of information, provides access control based on item group and/or location, arbitration of who is able to reserve or check items out, and security via SAML SSO single URL sign-ins.

For Maintenance Management, the system can automatically request service or plan preventive maintenance, create service tickets with notes and details about costs, send maintenance alerts and maintain service history, create work orders and manage maintenance providers.

EZOfficeinventory’s technology also includes a mobile app and allows each asset to be provided a barcode or QR code, photographed and assigned its own file that monitors where it is and what its status is at any time. The program offers Excel import and export, customized reporting and dashboards, analysis of historical and current inventory data and e-mail based custom alerts. Pricing is based on monthly and annual subscriptions that include a variety of support offerings.

Pros & Cons

EZOfficeInventory significantly cuts the time and effort involved in tracking company assets, as well as keeping up-to-date on maintenance. Every item across multiple locations is assigned its own log from the time of purchase to the time that it is no longer in service, and can be either barcoded or QR coded for scanning. Reports are comprehensive, photo identification is helpful, time savings are worth the effort needed to learn the system.

Pros

Equipment tagging with QR codes
Responsive customer support
Attach photos to assets

Cons

Navigation could be optimized

What Customers Are Saying

“This software is easy to add products to inventory and seamlessly add new employees into the system from several areas. Highly intuitive and easy to set up from the start. I appreciate the constant updates to the functionality.”

Summary

EZOfficeInventory

Starting Price
- $35/month Essetial
- $45/month Advanced
- $50/month Premium
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Integration with multiple applications
Customization
Mobile App

Ordoro

Batch Shipping Label Printing
Multi-Channel Inventory Management
Advanced Kitting Engine

Ordoro is a web-based, all-in-one ecommerce logistics platform that helps online merchants increase efficiency and eliminate headaches around order fulfillment and supply level management. It offers features such as batch shipping label printing, multichannel inventory management, advanced kitting, automated dropshipping, and returns processing.

Along with being able to create labels in batches, its shipping module is also integrated with a number of prominent carriers (which includes access to discounted rates they’ve negotiated with USPS). Ordoro also automatically sends tracking numbers to both sellers and their customers, keeping everyone in the loop of when they can expect their package to arrive.

Ordoro’s most impressive feature, however, is their multi-channel inventory management functionality. Every order that is placed and shipped has an impact on inventory, and the two concerns are integrated seamlessly. Ordoro reacts to fulfilled orders and restocks by automatically updating and syncing product quantities across each of the integrated sales and supplier channels for a completely aligned business.

The Ordoro interface and user experience is intuitive and easy to pick up. But if you do need help getting around the app or with some of their more advanced functionality, they also offer highly-touted customer support to all their users.

Ordoro’s pricing and features are offered on a tiered subscription model that reflects volume and functionality.

Pros & Cons

Ordoro takes the headaches out of fulfillment, making it easy to set up your shipping and dropshipping to function automatically and your inventory levels to be monitored and supplemented as needed. As an all-in-one eCommerce logistics platform, they offer core features like kitting, returns processing, and solid customer support. To that point, because they cover so much ground, some of their features are not as robust as their competitors’ who specialize in singular concerns like shipping labels.

Pros

Comprehensive list of automated eCommerce logistics features
Discounted USPS shipping rates
Great customer support
Intuitive user interface and streamlined UX

Cons

Some features are not as robust as competitors who specialize in that area
Price point may be a bit high for merchants who are just starting out

What Customers Are Saying

“Overall, Ordoro is the best program out there for your growing business, it allows growth through dropshipping, in-house shipping, it also uses a dashboard to keep track of daily sales, shipping costs, total orders, monthly sales, and the most sold item. Ordoro is also a work in progress and the staff is very open to hearing new ideas that can help with streamlining your business process. I would recommend Ordoro to every ecommerce business out there, whether small or large Ordoro saves you and your employees time.”

Summary

Ordoro

Starting Price
- $59/month Express
- $499/month Pro
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
no

Features

Batch Shipping Label Printing
Multi-Channel Inventory Management
Advanced Kitting Engine

ecomdash

Multichannel Ecommerce integrations
Mobile App
Automated shipping and tracking notifications

Ecomdash’s cloud-based inventory management system was designed with a specific goal: to level the playing field for small-to-medium sized online retailers who sell through multiple channels. To accomplish this goal, the system provides tools that go far beyond what is found in traditional software, expanding capabilities by including order and shipping management features and integrating with over 50 platforms, including Amazon, eBay, Shopify, Etsy, and Walmart.

The system offers numerous benefits of particular interest to ecommerce companies, including:

Sending and receiving real-time data from online sales channels, suppliers and fulfillment centers, providing increased visibility and the ability to manage product levels and avoid overselling
Printing shipping labels, packing slips and pick lists for each seller channel without having to log in to their portals
Customizable settings for routing orders to third-party fulfillment partners and dropship suppliers
Barcode scanning and generation
Automatic order status and tracking notifications for customers
Comprehensive ecommerce reports and data analysis, including evaluation of sales channels and suppliers, top-selling products, and sales trends.
One-click downloading of product inventory from any sales channel
Advanced search and bulk updating tools
Advanced capabilities for listing products

The program’s monthly subscription is offered at different tiers based on volume and priced accordingly. It also offers a mobile app and API capabilities, and the desktop version runs on any operating system and browser.

Pros & Cons

ecomdash empowers online retailers by providing multi-channel inventory that syncs in real-time, preventing overselling of products and allowing immediate adjustments to stock. The system’s multiple features can be overwhelming and hard to learn, but the ability to manage orders and monitor inventory in multiple online selling points makes the challenge and cost well worth it.

Pros

Multi-channel inventory capability
Syncs with the marketplace
Affordable option

Cons

Not mobile friendly
Steep learning curve

What Customers Are Saying

“Our favorite result from using ecomdash is the better brand visibility due to selling our products in more places. After joining forces with ecomdash, we expanded to a total of 6 places and increased sales by approximately 40-60%. We also sped up fulfillment processing by more than 50% thanks to their shipping software.”

Summary

ecomdash

Starting Price
- $60.00/month
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Multichannel Ecommerce integrations
Mobile App
Automated shipping and tracking notifications

Vendhq

Barcoding
Mobile App
Employee Performance Reports

Vendhq is a cloud-based retail management software program that delivers automation, streamlines processes, and solutions. Designed with the specific challenges of both brick and mortar and online retail in mind, the program is intuitive, easy to learn, and addresses every aspect of running a retail business, including:

Point of Sale — Works on iPad, Mac or PC, syncing sales while online and off; fast staff training and ability to accommodate discounts, layaways, refunds and returns, cash management and user accounts.
Ecommerce — Offers integration with popular ecommerce platforms, ability to connect an existing store or open a new one, manage locations and sales channels in real time, syncs inventory across locations and systems, imports product catalog and manages across online and offline channels, syncs customer information and provides real time reporting.
Hardware — Compatible with multiple hardware options and also sells proprietary hardware bundle, barcode scanner and more. Support also available.
Payments — Accepts credit and debit cards through leading payment processors as well as mobile and contactless payments, creates custom payment buttons, issues custom gift cards, allows split and partial payments, integrates with existing payment processors.
Inventory — Adds multiple product variants and bundles products, imports existing barcodes and creates new ones, manages pricing and promotions, taxes for different locations, stock levels, inventory counts and control, and stock transfers.
Customer Management — Maintains customer profiles and purchase histories, imports customer list, segments customers for discounts or targeted emails, centralized customer database, creation of customer loyalty program
Reporting — Provides customizable reports, reports on sales by product and other categories, inventory reports, employee performance, end-of-day reports and more. All information accessible via a mobile retail dashboard as well as for export.

Pros & Cons

Clients praise the comprehensive, all-in-one features and report a high level of satisfaction with customization, speed, customer support and the ability to access the cloud-based program from anywhere. Comments regarding complexity are common, but customer service and support receives high marks.

Pros

Ecommerce integrations
Loyalty programs and customer management
Multiple hardware compatibility

Cons

Not as robust offering of features as other platforms
Reporting

What Customers Are Saying

“Overall, it’s a complete suite of features designed for both large corporations and small businessmen like me. On top of using this as a point of sale software, I also use Vendhq to peek into the behavior of my customers as well as the state of my inventories. Through Vendhq, I’ve managed to pinpoint the best inventory combination for me to smoothly operate. I think that there is still room for improvement with Vendhq. For starters, it could add functionality for processing payments so it can take the load off the user.”

Summary

Vendhq

Starting Price
- $99.00/month
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
no
Cloud Based
yes
Forecasting
yes

Features

Barcoding
Mobile App
Employee Performance Reports

Orderhive

E-commerce automation
Integration with hundreds of third party apps
Returns management

Orderhive is a cloud-based system that quickly automates the management of inventory, orders, shipping and more for eCommerce businesses. In doing so, it improves the experience for customers and the overall efficiency of the user.

Orderhive is designed to be just as an effective tool for distributors and wholesalers as for retailers, and in order to accomplish that it has been built with a generous array of smart tools and features. Put into action, they touch nearly every part of the process, introducing a streamlined workflow. Order processing is more straightforward, shipping and delivery are faster and easier to track in real time, and the program includes invoicing and customer service functions into the collaborative process.

As information and automated processes are introduced into Orderhive, the system gathers data and generates analytics that suggest further simplifications, as well as providing real-time reporting to help businesses make essential decisions. Orders, inventory, and shipments can be tracked, purchase orders and invoices generated, and payments recorded, team performance can be analyzed, and customer information can be input for future marketing campaigns.

Orderhive takes full advantage of its cloud-based platform to integrate with some of the world’s most popular marketplaces, storefronts, accounting platforms and payment portals. Shipping is similarly tied in, allowing companies not only to ship simply but also to provide helpful tracking information.
Orderhive has monthly tier-based pricing based on the number of users, number of integrations and the features a seller needs within the software.

Pros & Cons

User experience is straightforward and easy to navigate and workflow is intuitive. Adding integrations is quick and easy. Customer support is mixed: the documentation is lacking, but the video tutorials are good, and you need to be on one of the higher payment tiers to be able to access live customer support.

Pros

Comprehensive features
Automations
Customer support
Integration with hundreds of applications and platforms

Cons

Too complex to learn it all
Fee for implementation
Tech team sometimes unresponsive

What Customers Are Saying

“Orderhive allows us to integrate almost everything with almost everything. Probably the best feature of Orderhive is the least tangible or measureable: the staff. The customer service I have received has been outstanding thus far. The team is knowledgeable and transparent and will always at least try to help you get to where you need to be. The automations are our other most liked feature. The ability to set rules based actions, create auto invoices, send emails when something happens, move orders around automatically is great.”

Summary

Orderhive

Starting Price
- $44.99/month Lite
- $134.99/month Starter
- $269.99/month Growth
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

E-commerce automation
Integration with hundreds of third party apps
Returns management

Fishbowl

Integration with QuickBooks and Xero
Multiple Location Capabilities
Cloud capable

Fishbowl combines manufacturing and warehouse management tools into one, powerful package and business automation platform that helps small and midsize companies save time, improve efficiency and workflow, forecast accurately and improve their overall success. The package can be used in house on a server or through cloud hosting.
Fishbowl is a hybrid of an inventory management solution called Warehouse and an automation platform called Manufacturing. The software’s key elements include QuickBooks and Xero Integration, multiple location capabilities, reporting, multi-currency, and more.

The system provides users throughout the organization with stock levels in real time, allowing sales to monitor available inventory prior to purchasing. The software analyzes sales trends to predict inventory requirements, batches repair and work orders based on lot tracking and serial number tracking, and integrates with merchant services to make shipping and Customer Relationship Management easier.

The system is sold as a package with training for a one-time fee with additional charges for plugin products, and support is available via email, phone and chat.

Pros & Cons

Fishbowl’s asset management software is easy to use, effective, and the cost is reasonable. Clients appreciate the ability to integrate with QuickBooks, the improved efficiency it provides and the value of its data analysis. Many complained about having to install a server to accommodate the system and the inability to customize reports.

Pros

Easy to use and integrate
Affordable option

Cons

Reports are not customizable
Onsite server may be required

What Customers Are Saying

“Fishbowl Management software has offered our team a complete supply chain management and physical sales tracking system in one convenient system. Our team found both the ease of use and relative ease of integration to be among the most attractive components of Fishbowl. With Fishbowl we can organize warehouse parts inventory, print labels, and organize purchase orders which organizes our supply side. Fishbowl’s sales side module allows for effective tracking of lead times as well as sales item forecasting so we are never behind on available inventory. At this time, Fishbowl Manufacturing software requires the use of a server which we had to supply. This requirement may not suit all smaller companies.”

Summary

Fishbowl

Starting Price
- $4
- 395.00/one-time
Compatibility
Desktop, Tablet, iOS
Alerts and Notifications
yes
Cloud Based
yes
Forecasting
yes

Features

Integration with QuickBooks and Xero
Multiple Location Capabilities
Cloud capable

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How We Chose the Best Inventory Management Software

Whether you work in manufacturing, retail or wholesale, or any other industry, your inventory is one of your most valuable assets, and inventory management is one of your most important tasks. At its most basic, inventory management is about making sure that the right products are in the right place at the right time, and at the right cost — doing so impacts your warehousing costs and your ability to fulfill orders and keep your customers satisfied. It lowers your risk of investing too heavily in stock that won’t sell and helps you plan ahead and take advantage of pricing fluctuations. Inventory management software makes sure that you’re handling this issue in the most effective and efficient way possible, especially if you are working with a program that meets your business’ particular needs. When we set out to identify the best inventory management software of 2020, we started by establishing the main features that provide the most value to today’s businesses.

Efficiency Tools

To say that efficiency tools are an important differentiator for inventory management systems is somewhat redundant: after all, moving from a manual system to a computerized process is in and of itself the biggest leap in efficiency that a company is likely to make. Still, the way that an inventory management system goes about that and the efficiency tools that it includes can make a big difference in how big a difference the software will make. The most valuable features and tools that lend themselves to greater efficiency are:

Automation tools that track inventory in real time
Predictive data analytics
Inventory optimization
Mobile technology
Quantitative and qualitative forecasting

Easy Collaboration

Frequent stockouts make the entire organization look bad, and almost always leads to finger pointing between areas that should be acting as equal partners in their responsibility to keep your business operating smoothly and delivering products efficiently. Procurement, inventory and logistics need to work together to make sure that the company is keeping clients happy, and effective collaboration tools including team messaging software and cloud-based workflow and project management tools make sure that supply chains are reliable and deliveries are made on time.

Reporting and Data

Information is power, and the information that an inventory management software program compiles and presents can empower cost-saving decisions. Among the most important of these are sales reports, overall inventory importance, forecasting, inventory hits, and inventory control.

What Is Inventory Management Software?

Inventory can be many things, but at its most basic it is what businesses rely upon either to operate or their businesses or that they sell in order to make money. A business’ inventory is one of its most important assets, and keeping track of it and managing it is both important and tremendously time-consuming and labor intensive. Inventory management software eliminates the need to perform these tasks manually. It helps improve efficiency, saves time and money, and provides invaluable insights that further increase business success.

Today’s inventory management software is available in generalized forms and in highly specific applications that focus on business type, industry or type of inventory. New technologies permit it to be housed and operated in the cloud so that information can be synced and updated in real time. Tracking via barcodes and radio-frequency identification allows inventory items to be tracked whether it is raw materials or finished goods, on the way to a manufacturer or to a consumer. At its best, inventory management software not only provides centralized information and workflow streamlining, but also quickly generates accurate data that a business can use to reduce its costs, boost its sales, respond to change, and improve customer satisfaction.

Benefits of Inventory Management Software

Every Inventory Management Software program has its own focus, philosophy and unique features, but all are meant to bestow the same overall benefits for business operations. These benefits are:

Manage your inventory more easily while saving time and money. As inventory and need for inventory shifts, so too do stock levels. Inventory management software helps to spot and respond to trends, eliminates errors, improves communication and collaboration by automating and centralizing the process. This complex technology simplifies the process.
Minimizes the risk of overselling, stockouts, and excess stock. A well-managed inventory is a balancing act. Too much stock takes up room and represents unnecessary expense. Backorders result in unhappy, disappointed customers and can have a significant impact on your business’ reputation. Inventory management software syncs your orders and inventory across all sales channels and warehouses to prevent this from happening.
Inventory management software eliminates many costs that result from human error. It can establish partnerships and notifications that shorten supplier lead time, reduce excess and obsolete stock, and reduce man-hour costs by automating processes.
Better understanding of your business position. Inventory and order management software tracks your supplies and provides real-time information that can help you forecast and plan better and negotiate with suppliers and distributors from a position of strength. It can help you understand what items are popular and which are not, improving your customer traffic and perception of your business.

What to Look For In Inventory Management Software

Every business is different and has slightly different operational processes, and the same is true of inventory management software. Choosing the one that is best for you will require an honest assessment of your company’s needs and a commitment to doing the research needed to identify the option that serves those needs the best. It is easy to get distracted by bells and whistles and features, so keep the following list of essentials in mind when making your decision:

Cost. There are programs that are very affordable and others that are extremely costly. Though the features offered by high-priced packages are remarkable, and valuable for the businesses that need them, there is no reason to pay for features you won’t use. Keep your business and its budget in mind.
Ease of Use. A software program is only effective if it is usable. Choose a program that is easy to learn and has intuitive navigation which will boost your chance of it being used to its fullest capacity.
Reputation. There are hundreds of inventory management software programs available, and there are plenty of reviews that have been posted by those who have already invested in and used each of them. These are remarkably valuable and can serve as a guide as to usability, value, customer support, and other indications of whether a program is worth your trust.
Reports and Analytics. In addition to features and functions, the data provided by inventory management solution software may provide its greatest value. Before investing make sure that the reports included in a program match the information that you need.
Integrations. If you utilize applications to run your business — whether for sales channels, shipping, business processes or anything else — you will want to find a program that easily integrates with them so that your software can transmit information back and forth with it, saving you time and effort.
Multiple Location Inventory Management. If your business operates out of more than one location or warehouse, you need to make sure that the tool you choose will centralize information for all of them.
Customer support and training. No matter how easy a program may seem to use, you need to make sure that customer support is available, whether to address your own questions about functions or how to use the product, or to address glitches and technical problems.

The Cost of Inventory Management Software

The price of Inventory Management Software is based on numerous factors, including the features that each program offers, the reputation and maturity of the software developer, the payment format that the vendor has in place and the number of users/volume of usage that an individual company needs to have using it. This means that the question of how much a program costs is really up to the person who is going to be purchasing it, what their budget is and what their priorities are. Because the software is likely to save you time and money, you also need to put a value on that factor and then find a program that is going to cost you an amount equal to or less than the return on your investment.

The bottom line on purchasing inventory management software is to choose a program that is going to deliver on your needs and its promises. If it does that, saving you time and money and providing you with valuable business insights, then the importance of what you spend will pale in comparison to the value it provides.

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