Imagine you could spend less time managing your business. Less time sending invoices, sending out of stock emails, or trying to find inefficiencies in your supply chain.
What would you do? Pick up a new hobby? Spend more time with your family? Or even focus on growing your business instead of chasing down reports and reorders?
If you struggle to keep track of what goods go in and out of your business or find it difficult to manage your goods-based business, an inventory management tool may be a worthy investment.
How does inventory management software work? By tracking goods across your entire supply chain, from the first time you touch it until it lands in your customer’s hands. In fact, the right inventory management tool can do a lot more.
- The Benefits Of Inventory Management Software
- 14 Popular Inventory Management Software Solutions
- How To Pick The Best Inventory Management Software For Your Business
The Benefits Of Inventory Management Software
As more businesses rely on the internet to market themselves, make sales, and provide customer service, businesses need an inventory management software that keeps up with the changing e-commerce landscape.
Many different tools have emerged to fill that void, which has left many business owners overwhelmed by the options. So, what are the main benefits and features of inventory management software?
The right inventory tool can help you:
- More efficiently manage stock so you can waste less money on expiring stock or storage for overstock
- Maximize sales by reducing out-of-stock incidents and preventing deadstock
- Reduce labor by automating manual tasks
- Improve customer service by lowering shipping lag times and errors
There are dozens of inventory management software on the market, and many of them do much more than just manage your stock flow. Depending on your needs, your inventory management tool might also have additional features like:
|Reporting & Analytics||Learn about your customers, their behaviour, and their needs|
|Transfer Management||No more worries about product transfers between warehouses and sites|
|Order Management||Manage your goods, their pricing, and multi-channel sales from a simple dashboard|
|Integration Support||Have an expert hold your hand with challenging technical tasks, or even do them for you|
|Demand Forecasting||Use your past purchase histories to forecast potential future demand|
|Product Categorization||Keep your products organised in order with ease|
14 Popular Inventory Management Software Solutions
Choosing the right inventory control system requires careful consideration of the pros and cons of available options, as well as an in-depth look at your needs as a business. Here is a rundown of the most popular inventory management solutions, as well as the strengths and pitfalls of each solution.
Oracle Netsuite is more than an inventory control system. It is a cloud-based, feature-rich platform that manages all aspects of your business, including customer relationships, inventory, and financials. Popular features include supply chain management, “just in time” inventory, bar code, POS interface, and sales tax software integration.
- Easy to expand as you grow
- Solutions for businesses of all sizes
- Combines ERP, CRM, and e-commerce features
- May be too complex for smaller companies
- Requires some tech knowledge for maximized use
TradeGecko can help manage every aspect of selling, from your suppliers’ door to your customers’. In addition to inventory control, it handles orders and fulfillment, customer data, and provides deep insights into the health of your business.
Popular inventory features include fully sortable inventory list, product details like SKU and bar code, product history, product kitting, and detailed reporting.
- Ideal for a variety of business sizes
- Offers plenty of advanced features
- Affordable for small businesses
- The smartphone app has limited features
- No phone support, only email
Zoho Inventory is a cloud-based tool that helps you manage inventory, create sales strategies, fulfill orders, and gain access to a wide range of detailed reports.
It allows you to update inventory across multiple platforms simultaneously, bundle items together, automate reorders, scan barcodes, track expiration dates, and easily adjust stock.
- Very affordable
- Rich feature-set
- Offers live support
- Does not provide just-in-time inventory
- The app is only available for iOS
Quickbooks accounting software also helps companies to track and manage their inventory. Features include income tracking, invoicing, basic reporting tools, sales tax tracking, and inventory control.
- Simple to deploy, especially if you already use Quickbooks
- Tracks inventory across platforms
- No app
- No supply chain management
- No way to scan a barcode from a tablet/smartphone
This platform was founded in 2013 by an e-commerce store owner who wanted a better way to manage orders across channels and increase both sales and customer service quality.
Features of Veeqo include multichannel inventory management, returns (select plans), order rules, revenue orders, barcode scanner functionality, branded invoices, and integration with more than 17 shipping carriers.
- Multi-warehouse routing
- All plans allow shipping of unlimited products
- 17 shipping carriers available for integration
- Amazon FBA costs extra
- Shipping returns only available with selected plans
If your goal is to spend less time managing your orders, Orderhive might be for you. It was designed to make inventory management more straightforward and to automate as much of the process as possible.
Features include automation of daily tasks with preset triggers, order fulfillment workflow management, multi-channel inventory synchronization, the ability to manage multiple warehouses, print barcodes, kitting, backorder products, and return management. Integrates with Quickbooks, Xero, Zoho CRM, and Magento.
- A powerful, user-friendly tool
- Good value for the price and comprehensive features
- 15-day free trial
- Analytic tools are limited
ShipBob is more than just an inventory management tool; they store and ship your goods, which allows you to be totally hands-off if you choose. Features include multichannel functionality, real-time synced inventory management, product bundling, inventory replenishment notifications, and return management.
If you want to automate as much of the process as possible, ShipBob can help you do it. Simply ship your stuff to them, and they store it and ship it out when a customer places an order.
- Intuitive design
- Fast shipping to customers
- Makes running a high-volume e-commerce store more manageable
- App offers limited functionality
- Phone support only available during business hours
UpKeep was specifically designed for maintenance managers and technicians to keep track of stock and streamline to streamline everyday maintenance tasks. They know technicians and facility managers spend more time in the field than at their desks, so their solution was to build a mobile-first solution.
Features include barcode management, ability to assign minimum quantities for parts, add parts to work orders, and restock with purchase orders–all from your smartphone.
- Free 7-day trial
- Robust mobile tool (available for both iOS and Android)
- Smooth workflow automation
- No offline capabilities
- Specializes in the maintenance niche
ShipMonk is more than inventory management; they offer complete order fulfillment for e-commerce stores. It integrates with your sales channels and handles the entire process, including inventory management, shipping, packaging, storing, and more.
Pricing is set by the platform (e-commerce, subscription box, Amazon) and the number of items you ship per month. ShipMonk supports crowdfunding and flash sales.
- Complete e-commerce shipping, management, and storage solution
- Real-time inventory tracking
- Discounted shipping costs
- Pricing can add up quickly with add-ons
Designed with retailers and wholesalers in mind, BrightPearl makes it easier to process thousands of orders a day from both e-commerce and POS transactions.
Their inventory management features include barcode tracking, multi-location inventory control, multi-channel management, kitting, bundles, and extensive reporting tools.
In addition, Brightpearl offers retail accounting, warehouse management, fulfillment, and supplier management.
- A full-featured tool that manages all sales, including online and in-store, for retail stores
- The centralized system means one login to access a variety of tools
- Online app available
- No pricing listed on the site
- May be too complex for low or mid-volume stores
Far more than an inventory control tool, ShipStation takes over every aspect of shipping, helping automate the process and letting you focus on growing your business.
Features include automation rules for custom fulfillment, data management, branded labels, packing slips, and integration with Amazon, BigCommerce, eBay, USPS, and more.
- Modern, intuitive user interface
- Robust integrability
- Free 30-day trial
- Limited reporting tools
- Only supports shipping in the US, UK, Australia, and Canada
Designed with enterprise customers in mind, Productsup is used by the likes of Ikea and American Eagle Outfitters. This is a very powerful tool with a range of features including product inventory management, data importing, unique ID generator, product image designer, and product content syndication.
Integrates with many channels, including eBay, Google Express, Shopify, Magento, and Amazon.
- Detailed knowledge base, including white papers and webinars
- Powerful tools with tons of integrations, reports, and workflows
- High learning curve
- Not suitable for small or medium sizes businesses
- Pricing not listed on their website, so difficult to compare with other tools
erplain is designed to help smaller businesses manage their inventory and orders through a user-friendly system designed with their specific needs in mind.
Features include automatic creation of sales orders, real-time inventory updates, contact management, barcode support, branded order forms, and shipping orders. Other features include drop shipping, backorder management, kitting, reoccurring invoices and subscription services, customized reporting, and role-based access to the system.
- Free 14-day trial
- Offers inventory management-only plan if you don’t need sales and purchase documents
- User-friendly dashboard
- Not designed for large businesses
This feature-rich tool combines inventory management, POS, automation, and warehouse management into one easy-to-use tool. Cin7s features also include inventory optimization tools, loyalty reward program support, real-time stock control, manufacturing and kitting, with sales and marketing tools.
Integrates with Salesforce, Amazon, Shopify, Intuit, and Xero.
- All-in-one solution for retail and e-commerce stores
- Designed for large-volume sellers
- Free trial available
- In-depth knowledge base
- High learning curve
- Pricing starts at $299 per month but must contacted for a quote
How To Pick The Best Inventory Management Software For Your Business
To choose the right inventory management software, it is critical to consider your business’ present and future needs. Features you don’t need now may become essential as you streamline your sales process. For example, advanced reporting or kitting might not be on your radar now, but where will your business go in the next year? Or five years?
Will the software system you select be able to grow with you, or will you be forced to move platforms? Planning for the future will help you minimize growing pains and continue to offer customers the same service and product quality they have become accustomed to.