In this competitive market, starting a business is stressful, time-consuming, and difficult. Best Inventory management and meeting customer expectations are additional responsibilities that can exhaust management to the point of exhaustion. Organizations anticipate assisting in the development of modern software that is precise in inventory management, avoiding overproduction, overbooking, and wastage, as well as cost reduction. For unquestionable business success, proper inventory control management is required. With so many inventory management software options available nowadays, it may be the wrong move for the business. Several elements combine to aid in the selection of the finest inventory management software. This buyer’s guide will assist you in determining your company’s needs and selecting the appropriate software.
What is inventory management’s definition?
In business terms, Best inventory management refers to the process of controlling and tracking your company’s whole inventory, from original purchase through manufacture, storage, and sales. It will manage the movement of your items in and out. To put it another way, inventory management enables you to keep the proper stock levels in the right places at all times.
What is Inventory Management Software and How Does It Work?
Inventory management software is a programme that allows you to keep track of items and inventory levels across your company’s supply chain. Consider it a system that traces your items’ full journey. The software handles everything from placing orders with your vendor to delivering them to your customers.
What factors should you consider while selecting an inventory management system?
You must choose the correct Best inventory management software to get the most out of it. And knowing which characteristics make up the ideal solution is critical for this. A Best inventory management solution allows you to keep track of everything in your inventory, including raw materials and completed items. It also has tools for forecasting inventory levels in order to better serve consumers. Barcode scanning capabilities are included in successful inventory software to eliminate data entry mistakes and provide automation. At the same time, it sends you real-time warnings and updates to keep you from running out of stock or overstocking. Is that the end of it? Not at all. The most crucial consideration is whether the software is scalable and integrates well with other systems, such as accounting software.
Top 15 Best Inventory Management Software In 2022
If you’re searching for a system like this for your company, here’s a list of the best inventory management software options to get you started.
InFlow is Best inventory management software developed for item-based businesses to monitor items, manage orders, produce invoices, compile reports, and handle other trade and transaction procedures. It has the right blend of a simple, intuitive UI and omnipresent support services. Companies of all sizes, large, medium, and small, rely on inFlow to provide a big picture for their offices by analysing data and making educated decisions. The software is efficient and time-conscious, hosting product listings, tracking stock transit status, and organising inventory using DYMO printer-generated barcodes. Product identification and order distribution are also aided by barcodes.
B2B portals are used to handle sales, purchases, and reordering. It provides material billing, invoices, and other receipts, as well as secure online payment portals and timely order procurement, shipping, and delivery. The flexible interoperability of inFlow with user platforms such as Windows, iOS, and Android allows you to stay on top of your game by allowing you to see all you need to know in a single click.
Integrations like Shopify, Amazon, QuickBooks, and Zapier make e-commerce, accounting, and automation jobs easier. InFlow offers one-on-one online onboarding demos and experienced help every step of the way, all protected by 256-bit SSL security and global backups.
Price: $71.00 per month (nFlow Cloud Light is $71.00 per month with two yearly team users).
Only by incorporating smart and Best inventory management software can a business expand across various channels. Zoho Inventory is one of the Best inventory management software solutions for businesses, allowing them to manage inventory, purchase orders, sales orders, and shipments more efficiently. When a purchase, sale, invoicing, or billing occurs, our GST-ready inventory management software remembers the business GSTIN and auto-populates it. Zoho Inventory is a feature-rich, AI-powered inventory management system with item-kitting capabilities that can be tailored to fit the needs of any company.
Integrating Zoho Inventory also aids with the management of sales on digital marketplaces like Amazon, eBay, Etsy, and Shopify. With this integrated order management system, the sales force can now properly handle both physical and online orders. Zoho Inventory is an end-to-end tracking system that allows you to follow each item’s travel from warehouse to sales point. Another important feature that Zoho Inventory provides to its customers is real-time shipping prices and in-transit information. New clients may get a free sample of this small company inventory software, which will let you assess the most significant features. By making invoices and allowing the team to manage the firm efficiently, Zoho Inventory saves time. Monthly and yearly subscriptions are available for Zoho Inventory. Clients may sign up for a free trial plan to test out the features before purchasing.
“Initial Cost: $49.00 per month per user (Basic-$49, Standard-$99, Pro-$249)
Overselling is one of the most common bottlenecks in the selling industry, but it can be avoided using inventory management software like Sellbrite. Sellbrite is one of the most organised company inventory software, giving you comprehensive inventory control and eliminating overselling of items. This user-friendly software provides enterprise-level inventory management capabilities and aids in the establishment of a balance between stock, sales, and purchase orders. Sellbrite provides centralised inventory management from a single, easy-to-use interface, whether the company trades in hundreds or thousands of goods. Users may quickly examine and manage reserved, on-hand stock levels and available goods with the software. Sellbrite’s automated inventory adjustment tools allow the company to manage its FBA amounts across all other channels.
Sellbrite is one of the best inventory management software for small businesses, with user-friendly, sophisticated features that help you avoid overstocking. Its multi-channel inventory control capability helps businesses track inventory, automate order routing between several warehouses, and maintain comprehensive warehouse control. This inventory and order management software is a one-of-a-kind platform with excellent customer support and a 14-day trial period that allows users to discover the value of Sellbrite integration.
Monthly Rates Begin at $19.00
TradeGecko is one of the top companies’ inventory software because of its clear user interface and remarkable functionality. This versatile inventory management software is designed to help high-growth e-commerce and multichannel businesses succeed. TradeGecko is a cloud-based inventory management software for small and medium-sized enterprises with limited resources but a desire to succeed. TradeGecko is a blessing in the shape of small company inventory software, with only one goal in mind: to help you work smarter, expand quicker, and improve sales. This best-in-class inventory management software improves and assures the effective functioning of your organisation, whether you’re a distributor, wholesaler, or retailer.
TradeGecko manages inventory across several warehouses by automatically updating inventories and keeping track of stock levels. The inventory optimization tool simplifies internal operations and helps businesses choose the best stocking approach. You may use TradeGecko to move stock between warehouses, manage numerous currencies, accept and fulfil orders, synchronise orders with inventory, and see sales reports. TradeGecko also serves as a single point for inventory management and maintains a balance between B2B, B2C, and marketplace transactions. This inventory software sends out sales emails, generates sales orders, calculates shipping costs, and does a variety of other tasks to help your business operate smoothly.
Monthly rates start at $39.00 (Monthly and yearly subscriptions are available; prices are in USD).
5. Stitch Labs
Traditional inventory management software may be lacking in innovative capabilities and restrict your access. It’s time to upgrade to Stitch Labs’ powerful, integrated top-of-the-line inventory software. Every commercial enterprise relies on inventory. With its integrated and sophisticated capabilities, a multi-channel inventory system like Stitch Labs is not only a lifesaver but also manages a lot of business epidemics. Over-purchasing, low inventories, late delivery, managing several warehouses, inventory accounting, and cost management are just a few of the issues that inventory faces. Stitch Labs is an innovative inventory and order management software that helps commercial businesses regulate sales, purchases, and orders by centralising inventory.
Stitch Labs is a cloud-based inventory management software that delivers full retail information, including historical stock, financial location, and sales velocity, to aid with future planning. This multichannel platform also maintains sales channels, transfers inventory, and tracks items in transit and at inbound sites. Purchase order management, cost allocation, low stock notifications, bundling, and stocktakes are all available through Stitch Labs. By investing in this software, a company may have a greater understanding of its inventory as well as reliable data for forecasting and making wise business decisions.
“Monthly Rates Begin at $799.00
Any expanding firm may benefit from all-in-one inventory management software. Lightspeed is the only retail POS that aids in the smooth operation of the business, stock optimization, and sales management. Lightspeed has grown more than fourfold since its beginnings, thanks to its user-friendly design and powerful functionality. This outstanding business inventory software is referred to as a full retail management solution, a clever, scalable technology that raises the bar for the company. The software allows you to transfer stock, set up a sales point, stock, thrive, and sell from any device.
Lightspeed POS is more than just inventory management software; it’s also a platform for keeping track of your consumers. With a POS solution, you may get a customer’s profile, purchase history, and categories. Lightspeed also assists in meeting customer demand, special orders, layaways, work order management, and ensuring prompt delivery. Lightspeed provides 24/7 help through webinars, videos, and a completely free demo thanks to a one-on-one boarding method. Lightspeed POS allows you to manage inventory and sales while on the go, whether you’re selling a bike, fashion, electronics, or recreational goods. This simple inventory management software gives you access to inventory management solutions that help you optimise your workflow and take your business to the next level.
Monthly Fee: $69.00 (billed annually)Prices may change based on the package selected.
Katana Manufacturing ERP software is for any manufacturing organisation that wants comprehensive management and out-and-out visibility. It is known for its balanced collection of features that go beyond your sales and inventory operations. The system includes a live inventory management feature that allows you to see your business in real-time at any moment. You may use its features to optimise goods and raw materials while keeping everything in one place-scheduling, resources, and production in one spot. It saves you time and money by eliminating the need to switch between several tools.
The omnichannel order management capabilities of Katana software help you simplify your e-commerce and B2B sales orders. Furthermore, you can keep track of materials, expiration dates, batches, and much more, increasing overall efficiency while reducing risks and process mistakes. And, because the platform is designed with a simple, easy-to-use interface, everyone on your team will be able to quickly adapt to it.
With its clever purchase order management, you can effectively minimise one of the most common corporate problems, stock-outs and overstocking. In reality, the system allows for the use of several currencies for simple purchase order value translations. Furthermore, this software integrates seamlessly with the majority of the main accounting, e-commerce, CRM, and reporting software packages on the market. You may try the tool for free for 14 days to see how it works for you.
“Monthly Rates Begin at $99.00
Orderhive is the Best inventory management software that is cloud-based and handles order fulfilment, e-commerce automation, and goods mobility. This all-in-one platform solution is the answer to all of your questions regarding how to make better business decisions. Orderhive is a cutting-edge software that handles real-time inventory synchronisation, e-commerce automation, and streamlined purchase management while also providing rapid analytical reporting. Orderhive offers a 15-day trial period to let users grasp the value of its capabilities and how they contribute to business growth.
By eliminating guessing and properly tracking product flow, this inventory control software keeps inventory levels under optimal control. Orderhive is a marvellous piece of software that cuts costs, automates tedious tasks, and synchronises inventory across sales channels, warehouses, and delivery centres. Orderhive also has features like simplified product management, catalogue management, and inventory visibility, as well as the ability to reduce the risk of overselling and underselling, generate real-time inventory reports, manage purchase history, stock count forms, price adjustments, stock adjustments, reorder back-ordered products, COGS management, and inventory audit reports. Orderhive is a simple-to-use inventory software that makes a big impact when it comes to making business decisions. The platform is offered for a 15-day trial to allow users to examine each feature and learn how it might help them expand their business.
Starting Price: $0.01 per month (a savings of 55%!Subscriptions can now be purchased for $44.99 per month*.)
If you use QuickBooks Online, SOS inventory is the perfect complement to your business. SOS Inventory provides you with complete control over your inventory across different locations and allows you to track all of your items from the comfort of your own home. Its capabilities, such as backorder tracking, automated order processing, and process manufacturing, provide you with an advantage over competing for software. You can construct and track assemblies as well as have many phases of work in process. It allows you to manage your inventory and assemble it remotely from your computer. With a serial number, you can even follow the history and present location of a certain object.
Unlike in Quickbooks Online, you can generate and track sales orders here. You may also use Quickbooks to create invoices and link your packaging and shipping procedures. It also interfaces with popular websites such as Shopify, Paypal, and Bigcommerce, allowing you to manage all aspects of your company in one place.
To resolve any of your questions, you have access to email assistance 24 hours a day, seven days a week, and phone help during business hours. You may also use the emergency code deployment function to maintain administering the websites even if the Quickbooks server is down. As a result, SOS inventory is the best option for all small-to-medium-sized product-based firms, regardless of industry.
Price starts at $49.95 per user per month (Plus $99.95 per month, Pro $149.95 per month).
Megaventory is a cloud-based Best inventory management solution for medium-sized enterprises, such as retailers, wholesalers, and manufacturers, as well as franchisees and nonprofits. It allows you to handle sales and purchase orders, sales quotations, backorders, dropshipping, consignment, partials, refunds, and inventory with serial numbers and barcodes — all while allowing many users to use the system! Inventory management focuses on delivering inventory at numerous locations, keeping track of stock levels, confirming supplier availability, and ensuring inventory is returned on time. Physical product manufacturing, on the other hand, is done in modular segments that allow you to comprehend and integrate activities from one end of the supply chain to the other while keeping track of expenses.
It has advanced user rights, customisable user strings and reports, comprehensive data import and export, various currencies and exchange rates, pricing rules, considerable self-localization and customization aspects (including the ability to create bespoke documents), and a robust API. Megaventory’s integrations also aid in the management of other associated operations such as sales on e-commerce platforms (Shopify, Woocommerce, and Magento), accounting (Quickbooks), and app connections (Zapier). Megaventory is a must-have tool since it not only allows you to track supply chain operations, but also serves as the foundation for properly handling the procedures involved. Megaventory may help you manage your management more effective for as little as $150 per month. Sign up for a free trial or schedule a call right now!
“Monthly Rates Begin at $150.00
ShipMonk’s proprietary software solution packs a powerful punch by combining order, inventory, and warehouse management into a single, easy-to-understand interface. ShipMonk’s software was created from the ground up with expansion in mind, so small and medium-sized eCommerce enterprises can actually take their business to the next level with dependable, user-friendly technology. ShipMonk not only provides next-level support to eCommerce company owners, but it also caters to crowdfunding campaigns and subscription boxes, allowing merchants to seamlessly grow into new business initiatives without missing a beat.
Using just a few easy clicks, merchants can submit SKUs, monitor inventory levels, track orders, calculate shipping rates, export vital data, and much more with ShipMonk’s software. Merchants are immediately confronted with a complete dashboard of their current activities when signing into their accounts, with nearly everything they might need right at their fingertips. With over 60 connections to online marketplaces, shopping carts, and solution providers, every eCommerce business owner should be able to sync their online POS systems with ShipMonk.That means ShipMonk has you covered whether you sell on Amazon, eBay, Etsy, Shopify, Cratejoy, Weebly, Target, or Walmart.
EChannelHub is a multichannel eCommerce platform that uses a single, centralised interface to simplify and manage the online listing and synchronisation of items, inventory, orders, processing, and shipping across all marketplaces, shopping carts, shipping solutions, and ERPs. We have everything covered for you, from supplying marketplace listing tools to real-time inventory sync tools, order management systems, and much more. EChannelHub strives to alleviate the agony of multichannel sales by allowing you to concentrate on your main business rather than worrying about stock management, product data updates, order fulfilment, and other related duties. Our multi-channel eCommerce platform, which is fully lined with all major channels, allows merchants to spend less time updating, upgrading, and formatting product data, allowing them to focus more on selling.
Everyone, from large names to startups, may benefit from the fast-growing eCommerce market. And, with our multichannel eCommerce platform, which is well backed by our professional, youthful workforce, we hope to assist everyone seeking to grab a piece of this multichannel eCommerce pie. We believe in pushing the boundaries and are willing to take chances, think outside the box, and try new things in order to learn, grow, and provide value. And our motivator is to dream big and work together to make those goals a reality. We’re delighted to be known as “problem solvers par excellence,” and we believe in doing the same things differently to get better outcomes.
13. Deskera Books
For Best inventory management and automatic bookkeeping, Deskera Books is all you need. Deskera Books is cloud-based, user-friendly inventory management and accounting software that automates inventory management. Unlike other inventory management software on the market, Deskera Books combines inventory management and inventory accounting, so your COGS are updated in real-time after you’ve fulfilled orders. Deskera Books’ built-in compliance allows you to confidently and easily generate accounting and tax reports. Users may get started using Deskera Books in a matter of hours thanks to its user-friendly layout. Deskera Books has you covered, whether you run a small dropshipping business or a large wholesale operation with many warehouses.
When you receive stock or fulfil orders from your vendors and customers, Deskera Books immediately updates your stock levels and stock value. You may also generate several fulfillments for bills and invoices using Deskera Books. Pick, Pack, and Ship, Dropship, Backorder, Warehouse Management, Stock Transfer, Stock Adjustment, and Inventory Reports are just a few of the advanced inventory features available in Deskera Books. Advanced inventory reporting allows you to keep track of your business. You can access your real-time inventory from anywhere with the Deskera Mobile App.
14. Finale Inventory
Finale Inventory is a multichannel Best inventory management software that is cloud-based for smarter, developing organisations. Finale Inventory, one of the greatest warehouse management software programmes, is used by the majority of the world’s smaller and medium-sized firms because of its essential features. The software was created with the goal of meeting all inventory requirements while also emphasising the necessity of centralization, multifunctional integration, and warehouse management. The company can avoid costly stock-outs, calculate reordering points based on product sales velocity, make better purchasing decisions, and handle restock forecasts using comprehensive order management tools. Finale Inventory provides a full out-of-the-box barcode inventory control solution in addition to being the best inventory and order management software. Using multi-operational mobile barcode scanners, this function is aimed at boosting warehouse capacity.
Finale Inventory expressly combines warehouse and online sales channels, as well as assists with stock updates on a regular basis. The platform includes a robust reporting engine that generates customizable reports to aid in the making of quick business decisions. The end result is a transparent, cost-effective, and sophisticated platform that speaks for itself. Finale Inventory has worked with thousands of businesses since its inception, providing customizable features to meet specific needs. This high-quality best inventory software believes in making betting recommendations, customising them, and empowering businesses to grow confidently.
“Monthly Rates Begin at $99.00
15. KORONA POS
KORONA POS provides robust reporting and Best inventory management to merchants, allowing them to expand their companies successfully and sustainably. Its reporting and analytics give you more information about your pricing, promotions, individual products, ordering, and other aspects of your business. And once you have this data, inventory management enables you to make modifications and automate future operations with ease. Thanks to these capabilities, KORONA POS is a great resource for companies of all kinds, from single-store mom and pop stores to multinational chains and franchises.
Every product in your database is tracked from beginning to finish by the software. You’ll have the correct items at the right time thanks to automated ordering, store orders, and order level optimization. Throughout the day, stock notifications, configurable par levels, and real-time updates keep you informed. Furthermore, remote access allows you to keep an eye on things from any location. A back-office dashboard may also be used to break down the data by hundreds of indicators and retail KPIs. This includes sophisticated ABC analytics for specific items. All orders may be done at the point of sale, which also includes particular capabilities for franchisees and chains that help with multi-location management. A free trial of the software is provided with no obligations. For those who are interested, the KORONA POS team will also schedule a personal demonstration.
“$59/month as a starting point