Skip to content

10 Best Inventory Management Software

    10 Best Inventory Management Software - Softwarecosmos.com

    Running a business with a large inventory can be tricky. You need to know how much stock you have, what you’ve ordered, and what’s been shipped out. This is where inventory management software can help. The right software makes it easier to keep track of your inventory, orders, and shipments. It can help your business run more smoothly, work more efficiently, and save you time and money.

    But with so many inventory management software options out there, how do you choose? Picking the best software for your small business can feel overwhelming. The good news is that research can help you make an informed decision. This article will guide small businesses to the top inventory management software for your businesses. We’ll look at key features, pricing, and user reviews. This will give you the information you need to find the ideal software solution for your business needs.

    Essential Features of Inventory Management Software You Need to Know

    If you’re running a business that handles inventory, you know how important it is to keep track of your stock levels, orders, and shipments. Inventory management tools can help you automate these tasks and streamline your operations. Here are some essential features to consider when choosing the right inventory management software for your business.

    Features including inventory tracking, purchase order management, sales order processing, barcode scanning, reporting, and analytics are crucial factors to evaluate. Look for software that allows you to easily monitor stock availability in all your warehouse locations. Ensure it has robust options for generating purchase orders, tracking shipments from suppliers, and receiving goods. Consider integration abilities with your accounting software as well. Choosing software with essential features, including optimizing your inventory processes, will help boost efficiency and profitability.

    Inventory Management Software - Softwarecosmos.com

    Real-Time Inventory Tracking

    Real-time inventory tracking is a must-have feature for any inventory management software to purchase orders easily. It allows you to monitor your stock levels in real time to avoid stockouts and overstocking. With real-time inventory tracking, you can set up automatic alerts to notify you when stock levels fall below a certain threshold so you can reorder products before they run out of stock.

    Barcode Scanning

    Barcode scanning is an essential inventory management feature of software. It allows you to scan barcodes on your products so you can quickly and accurately track your inventory levels. Barcode scanning can also help you speed up your order fulfillment process by allowing you to scan products as you pack them for shipment.

    Order Management

    Order management is a critical feature of inventory management software. It allows you to manage your orders from start to finish, from receiving orders to shipping them out. You can track order status, manage backorders, and generate packing slips and shipping labels. With order management, you can also set up automatic order routing and fulfillment so you can fulfill orders faster and more accurately.

    Reporting and Analytics

    Reporting and analytics are important features of inventory management software. They allow you to generate reports on your inventory levels, sales, and order fulfillment performance. You can use these reports to identify trends, optimize your inventory levels, and improve your order fulfillment process.

    Integration with Other Systems

    Integration with other systems is another critical feature of inventory management software. It allows you to integrate your inventory management software with other systems, such as your ecommerce platform, accounting software, and shipping carriers. With integration, you can automate data transfer between systems, reduce manual data entry, and improve data accuracy.

    When choosing an inventory management software, ensure it has these essential features: real-time inventory tracking, barcode scanning, order management, reporting and analytics, and integration with other systems. These features will help you streamline operations, improve inventory accuracy, and boost order fulfillment performance.

    Top 10 Inventory Management Software Solutions

    Best Inventory Management Software - Softwarecosmos.com

    If you are looking for the best inventory management software solutions, you have come to the right place. Here we have a list of some of the top inventory management software solutions available in the market.

    1. Cin7 Core

    Cin7 Core is cloud-based Inventory management software for small businesses. It provides a comprehensive solution for streamlined inventory management across multiple sales channels. As a software-as-a-service product, Cin7 Core requires no on-premise hardware or IT resources to deploy and manage.

    Some key features of Cin7 Core include real-time multi-location inventory tracking across warehouses and stores. It offers effective tools for purchase order management, goods receiving, serial/lot tracking, stock tracking, bin location management, and more. The platform also provides robust order management capabilities to process sales orders from various channels into fulfilled shipments.

    Cin7 Core seamlessly integrates with popular e-commerce platforms and marketplaces such as Shopify, Amazon, Walmart, and eBay. This allows businesses to sync their inventory levels, pricing, and order data in real-time across all sales channels from a single dashboard. The integrations eliminate error-prone manual data entry processes.

    See also  Flexera Corporate Software Inspector

    The software comes with automated workflows to optimize operations. For example, it can automatically generate purchase orders when inventory levels drop below predefined thresholds. Cin7 Core also offers customizable reports and analytics dashboards to provide valuable insights into inventory performance, top-selling items, and more.

    With its comprehensive set of features and integration abilities across channels, Cin7 Core offers a scalable cloud-based solution for growing businesses needing to manage complex omnichannel inventory operations.

    2. Zoho Inventory

    Zoho Inventory is the leading inventory management software for small businesses. It allows businesses to gain complete visibility and control over their inventory. As a cloud solution, Zoho Inventory can be accessed from anywhere via an internet browser or mobile applications without needing to install or maintain any software on local machines.

    Some key features of Zoho Inventory include multi-location and multi-warehouse management capabilities. Businesses can manage inventory across multiple physical locations from a single platform. The software provides features for tracking inventory levels in real-time, issuing purchase orders, recording goods receipts, tracking lot, stock tracking, barcodes, retail management, purchase orders, replenishment, inventory control, serial numbers, generating inventory reports, and more.

    Zoho Inventory integrates seamlessly with other solutions in the Zoho ecosystem, such as Zoho Books for accounting, Zoho CRM for customer relationship management, and Zoho SalesIQ for sales force automation. This allows businesses to manage the entire order-to-cash process from a single dashboard. The software also features customizable dashboards and reports that provide insights into inventory turnover, best-selling items, items nearing expiry or reorder levels.

    The software offers affordable pricing plans tailored for businesses of all sizes. Its simple and intuitive user interface allows for easy management of inventory data on desktop and mobile. Overall, Zoho Inventory provides powerful inventory systems for enterprises that have feature-rich yet affordable cloud-based solutions for digitizing inventory management processes for growing businesses.

    3. Ordoro

    Ordoro is a top-rated inventory management tool for businesses of all sizes. It offers a simple yet effective solution. As a software-as-a-service product, Ordoro allows users to access all features from any web browser without the hassle of downloading or maintaining software.

    Some key features included in Ordoro are real-time multi-location inventory tracking across warehouses and stores, inventory management, purchase order and goods receipt, bill of materials and manufacturing orders, automated low stock alert, retail management, open API for platform-agnostic integrations, bulk inventory upload, automatic order tagging, and, auto-syncing stock. The platform also offers robust order management capabilities for processing sales orders into automated fulfillment workflows.

    Ordoro seamlessly integrates with popular e-commerce channels, including Shopify, Amazon, eBay, WooCommerce, BigCommerce, and others. This lets business owners sync real-time inventory, pricing, and order data across all sales channels directly from the Ordoro dashboard. The integrations eliminate manual data entry between systems.

    The software offers automated inventory replenishment and purchase suggestions based on predefined rules. It also includes customizable analytics reports and dashboards to provide visibility into key inventory metrics.

    With its ease-of-use, integration capabilities and affordable pricing plans, Ordoro offers a comprehensive yet simple cloud solution well-suited for growing small and medium businesses managing inventory across multiple sales channels.

    4. Fishbowl Inventory

    Fishbowl Inventory is a reliable inventory management platform that offers a robust solution for businesses with complex inventory management needs. As an on-premise software, Fishbowl requires installation and runs locally on users’ computers or server infrastructure.

    Some of its key features include Sync QuickBooks with inventory, supplies, products, stocks, purchase orders, warehousing, and manufacturing online with a desktop. This tool is the solution to manage inventory, logistics, vendors, purchase orders,  warehousing, and manufacturing processes in a single platform

    Fishbowl integrates with various eCommerce platforms to manage online store inventory. A major integration is with Shopify, which allows inventory levels in Fishbowl to sync automatically with the online store. This ensures customers do not try to purchase products that are out of stock. Other eCommerce platforms Fishbowl integrates with include BigCommerce, Magento and Volusion.

    Accounting software integrations are also important for Fishbowl. A core integration is with QuickBooks, which enables automatic syncing of inventory, sales and financial data between the two systems. This synchronizes data and eliminates double entry of information. Other accounting options Fishbowl works with include Xero and Sage accounting packages.

    On the customer relationship front, Fishbowl integrates with CRM software like Salesforce. This integration facilitates managing customer profiles and histories across both platforms. It provides a single view of clients. Fishbowl also works with CRM softwares like Hubspot.

    Electronic data interchange is key for suppliers and retailers. Fishbowl seamlessly links with EDI solutions such as eZCom to automate data exchange with trading partners. This streamlines processes like ordering, billing and inventory replenishment.

    Mobile access is critical for modern inventory management. Fishbowl integrates with Android and iOS devices, allowing teams to manage stock on the go using tablets or phones. Integration with handheld scanners also improves inventory counting and cycle accuracy.

    These are some of the major categories Fishbowl integrates within to deliver end-to-end supply chain visibility and streamlined operations. The partnerships ensure syncing of vital business data across separate yet linked software systems.

    In summary, Fishbowl is an inventory management application for stores that provides an enterprise-grade inventory management solution suited for businesses with complex requirements.

    See also  Doorking Remote Software: The Ultimate Guide to Access Control Systems

    5. ShipBob WMS

    ShipBob WMS is a fully hosted, cloud-based warehouse management system (WMS) that provides merchants with powerful yet easy-to-use tools to manage their fulfillment operations.

    As a SaaS solution, ShipBob WMS does not require any on-premise hardware, installation or IT resources. It can be quickly accessed from any device via a web browser.

    Some key features of ShipBob WMS include real-time multi-location inventory management, reorder point automation, purchase order generation, lot/serial tracking, bin/location management, and robust order processing workflows.

    It offers dynamic picking methods like wave, cluster and batch picking for maximum warehouse efficiency. Automated packing slips, ASN files and shipping labels can be printed on demand.

    ShipBob WMS integrates seamlessly with major e-commerce platforms, marketplaces and carriers. It also provides flexible APIs for custom integrations.

    Merchants gain centralized visibility across all warehouses and fulfillment partners. Detailed reporting and analytics provide actionable insights.

    With its ease-of-use, scalability, integration capabilities and support from ShipBob experts, the WMS is well-suited for businesses managing complex fulfillment operations with distributed inventory locations. It allows optimizing workflows from a single powerful platform.

    6. Katana MRP

    Katana MRP is a stock management software for wholesalers suitable for businesses of all sizes. As a software-as-a-service product, it provides an intuitive and easy-to-use platform without the hassle of installing and maintaining any on-premise infrastructure.

    Some key features of Katana MRP include inventory management,  purchase management,  sales order management, planning and forecasting production management, cloud accounting,  warehouse management, stock management, supplies management, material requirements planning, purchase orders, and more.

    It seamlessly integrates with popular e-commerce channels like Shopify, Magento, eBay, shipstation, Xero, Amazon, WooCommerce, 2Ship, HubSpot, Zapier, JIKKO, Shippo and much more. These tools sync inventory levels and orders in real-time. This eliminates error-prone manual data entry processes.

    The software offers automated replenishment calculations, booking and material requirements planning to optimize procurement cycles. It also includes enterprise-grade features like lot/serial traceability and quality control.

    Katana MRP provides customizable reporting and dashboard views to gain valuable insights. The platform is scalable to support advanced inventory needs as a business grows.

    With affordable pricing tiers, no long-term contracts required and excellent support, Katana MRP offers merchants a robust yet easy-to-use cloud solution for streamlining their inventory and order fulfillment operations.

    7. Monday.com

    Monday.com is an effective inventory management solution for industries that serves as a centralized hub for teams to manage projects, tasks and workflows. As a Software-as-a-Service platform, it provides an intuitive visual interface that allows users to build custom workflows without code. The platform leverages drag-and-drop functionality, templates and an integration marketplace to streamline process automation.

    The Work OS provides real-time collaboration features to boost efficiency and alignment among teams. Tools like shared files, comments and project boards maintain visibility across distributed teams. Automated triggers and actions help standardize processes using configurable triggers like due dates, approvals or field updates. Customizable dashboards deliver role-based insights to track progress against goals.

    Monday.com works across various departments from marketing and sales to product development and HR. Administrators can create goal-tracking frameworks using OKRs or customize dashboards to fit specific processes. Integrations with over 300 apps power deeper functionalities for CRM, helpdesks and more. This connectivity bridges organizational silos for a holistic view of operations.

    The platform offers flexible plans starting from free to suit all business types from enterprises to nonprofits. Its award-winning features, support and customer reviews highlight ease-of-use, customization and collaboration support for teams working in dynamic, evolving environments. Visual workflows eliminate rigid structures to deliver ongoing adaptability as needs change.

    8. inFlow

    inFlow is an on-premise, desktop-based inventory management system suitable for companies with complex supply chain needs. As an installed software solution, inFlow requires hardware and database deployment but offers full control and customization.

    core features include real-time tracking of inventory levels across multiple locations, sites and bins. It enables detailed order management withautomated workflows for activities like fulfillment, returns, sourcing and replenishment.

    inFlow integrates various costing methods and supports profitable optimization of procurement, production and distribution processes. Its interactive Kanban-style taskboards facilitatevisualization and prioritization of work.

    Being an on-premise solution, inFlow gives businesses full ownership and security over critical inventory data. It comes with tools for highly customized reporting, EDI capabilities and batch import/exportoptions.

    The software supports configurableBill of Materials, multilevel Configured BOMsand versioning.This assists complex productconfiguration, tracking and traceabilityneeds for manufacturing sectors.

    With its powerful yet flexible ERP-style feature-set, inFlow acts as the operational system of record for inventory-intensive industries needing precision and control over complex supply chain workflows.

    9. Extensiv

    Extensiv is a cloud-based inventory management platform designed to provide a simple yet robust solution for businesses of all sizes. As a Software-as-a-Service product, it allows users to access features from any device via a web browser without any on-premise software.

    The software offers key features such as multi-location inventory tracking, purchase order generation, bin location management, serial/lot tracking and comprehensive order fulfillment capabilities. It automatically synchronizes inventory levels and orders with popular sales channels in real-time.

    Extensiv provides automated replenishment calculations and supplier recommendations to streamline procurement cycles. Businesses can customize workflows for different processes using an intuitive drag-and-drop interface without coding.

    See also  What Is Snow Software? A Professional Overview

    Real-time dashboard views deliver visibility into critical metrics. Meanwhile, its role-based permissions allow controlling data access across teams.

    Extensiv is highly scalable to support advanced inventory and supply chain needs as a company grows. It offers affordable pricing along with 24/7 email and phone support from experts.

    With its ease-of-use, integration abilities and flexible pricing, Extensiv presents a comprehensive yet simple cloud-based solution tailored for growing small and medium ecommerce businesses.

    10. QuickBooks

    QuickBooks is an accounting software package that is very popular among small businesses. In addition to handling basic accounting tasks like bookkeeping, payroll, and invoicing, QuickBooks also offers robust inventory management capabilities. Having good visibility into inventory levels and costs is an important part of running a successful business.

    The inventory management tools in QuickBooks allow businesses to track the quantities of individual inventory items on hand in real-time. Users can set up inventory items with details like purchasing costs, sales prices, vendors, and tax codes. As items are purchased or sold, the on-hand quantities are automatically adjusted. QuickBooks maintains a running balance of the total value of inventory assets as well.

    Business owners gain insights into which inventory items are selling well and which ones may need to be marked down or discontinued. QuickBooks reports allow filtering inventory data by time period, vendor, sales representative, and other attributes. Managers can set target inventory levels and minimum/maximum levels to help avoid stock-outs or excessive overstock.

    The software integrates seamlessly with purchase orders and bills to tie inventory costs to suppliers. Users can generate purchase orders or reorder reports based on current stock levels. QuickBooks inventory tracking streamlines the receiving process upon item arrival too.

    For companies with multiple inventory locations, the program supports tracking quantities across warehouses or retail stores. Multi-bins give more control over dedicated areas within a single storage area too. Overall, QuickBooks provides an affordable yet robust solution to gain visibility and control over inventory – a critical aspect of operations for many businesses.

    Choosing the Right Software for Your Business

    Choosing the Right Software for Your Business - Softwarecosmos.com

    When it comes to choosing the right inventory management software for your growing business, there are several factors to consider. An effective inventory management system is crucial for ensuring your business can track product availability, manage replenishment orders, and meet customer demand as your business scales. Here are some key considerations to keep in mind:

    • Ease of use – As your business grows, you’ll need inventory software that can be easily learned and used by multiple employees across different roles and locations. Look for intuitive software with clear dashboards and reporting.
    • Scalability – Choose a system that can scale along with your business as your product catalog and warehouse operations expand over time. Consider both data storage limits and user limits.
    • Reporting – Detailed analytics and reporting capabilities are important for gaining insights, measuring productivity, and making informed business decisions. Look for software with customizable reports.
    • Integration – Today’s businesses rely on many systems working together. Make sure the inventory software can integrate with your e-commerce platform, accounting software, shipping providers, etc.
    • Mobility – For employees working both in warehouses and on the sales floor, mobility is important. Look for inventory software with mobile apps for tasks like receiving, picking, cycle counts and more.
    • Cost – Weigh the overall cost of ownership including software/license fees, customization/implementation costs and ongoing support. Consider how costs may increase as your business and needs change over time.

    Implementation Strategies

    Implementation Strategies - Softwarecosmos.com

    Implementing a new inventory management tool can be a daunting task, but with the right strategies in place, it can be a smooth transition. Here are some implementation strategies to consider:

    Data Migration

    One of the most crucial steps in implementing a new inventory management system is data migration. You must ensure that all your existing data is accurately transferred to the new system. This includes product information, customer data, and transaction history. To ensure a smooth data migration process, you should:

    • Back up all your data before the migration process begins.
    • Verify the accuracy of the data after the migration process is complete.
    • Test the new system thoroughly to ensure that all data is correctly transferred.

    Staff Training

    Your staff is an integral part of the implementation process. They need to be adequately trained to use the new system effectively. Training should cover all aspects of the new system, including data entry, order processing, and reporting. To ensure that your staff is adequately prepared to use the new system, you should:

    • Provide comprehensive training sessions for all staff members.
    • Offer ongoing training and support to ensure that staff members are comfortable with the new system.
    • Encourage staff members to ask questions and provide feedback to improve the training process.

    System Customization

    Every business has unique requirements, and your inventory management system should reflect this. Customizing the system to meet your specific needs can help streamline processes and improve efficiency. Some customization options you may consider include:

    • Customized reporting to track specific metrics.
    • Integration with other systems, such as accounting software.
    • Customized workflows to match your existing processes.

    In conclusion, implementing a new inventory management system requires careful planning and consideration. By following the strategies outlined above, you can ensure a smooth transition to your new system.