Inventory management software is a powerful tool for product based businesses like manufacturers, dropshippers, material shops, online stores, and eCommerce. It helps companies to track and manage their inventory levels, streamline their operations, and reduce costs. By providing real-time visibility into stock levels, sales data, and customer demand, businesses can make more informed decisions about when to reorder products, how much to order, and where to store them.
Additionally, inventory management software can automate many tasks, such as order processing and tracking, which can save time and increase efficiency. Right implementation of inventory management software can be a smart investment for any business to improve its operations and bottom line.
Finding the right inventory management software for your business can be crucial. With so many options available in the market, it can be overwhelming to choose the best one. So, we have collected some of the best options and shared their key features.
Best Inventory Management Software
In this article, we want to provide information on the best inventory management software for different types of businesses and industries.
1. Zoho Inventory
Zoho Inventory is the best inventory management software in the marketplace. It offers feature-packed inventory management software at affordable pricing that’s hard to beat for startups and growing businesses. You can use this software for both inventory tracking as well as creating sales orders and invoices. This cloud-based program works on desktops, tablets, or phones. You can access it via a web browser or Android and iOS apps.
Key Features:
- Calculate real-time shipping rates and print labels
- Send real-time status notifications to buyers
- Multi-channel support for Amazon, eBay, Etsy, Shopify, and more
- Time-saving autofill purchase order creation for suppliers and dropshippers
- Multilingual and multi-currency
- 24/7 support via chat and email
- Intuitive desktop and mobile apps
Zoho Inventory offers a free plan and paid plan starts from$59/month.
2. Cin7
Cin7 is robust inventory management software that is ideal for fast-growing online sellers who want fulfillment and purchasing automation. It comes with tons of integrations, stock tracking, automated purchasing and multi-warehouse management tools into plans that fit most business budgets. This automated inventory platform syncs the physical and online channels to create a more efficient order processing. It supports the first in, first out (FIFO) method and uses the Kanban approach for reordering or replenishing stock.
Key Features:
- Bulk add, update, or delete products
- Low-stock and out-of-stock alerts
- Built-in B2B functionality
- Over 10 e-commerce automation tools
- Provides 24/7 support on all plans
- Barcode, batch, FIFO and serial tracking
- Integrations with WooCommerce, Shopify, Magento, eBay, Amazon, and more
Cin7 plan starts at $325/month.
3. Upserve
Upserve(Lightspeed Restaurant) is a cloud-based point-of-sale (POS) system that offers inventory management features for restaurants and bars. This inventory management solution allows businesses to raise their productivity, track orders easily, and increase profits with a centralized platform to monitor their entire business. It has mobile app functions for both Android and iOS devices, so you can use it with just about any device.
Key Features:
- One-click purchasing available for inventory
- Easily tracks inventory levels
- Track real-time ingredient inventory
- Automatic alerts for low-stock items
- Scan inventory from your mobile app
- Integrates with various third-party applications
- Sync recipes to the POS system
Upserve plan starts at $59/month.
4. inFlow
inFlow is powerful inventory management software for manufacturers, B2B wholesalers, online sellers and retailers. This is an easy to use, intuitive platform that provides a central inventory database where clients can view your products. Its stock management system meets the end-to-end needs of both retailers and manufacturers. It is an all rounder software that offers web-based (inFlow Cloud) or computer-based (inFlow Premise), and an intuitive app for Android and iOS devices.
Key Features:
- Create general B2B showrooms and password protect them
- Track purchase orders, sales orders, and work orders
- Integrates with various popular applications like QuickBooks, Xero, and Shopify
- Report provides inventory valuation, sales reports, and purchase history
- Scan and generate barcodes
- Email invoices and receipts
inFlow plan starts at $110/month.
5. Ordoro
Ordoro is a cloud-based inventory management software that is designed for e-commerce businesses. It can help businesses optimize their inventory levels, track sales data, manage their shipping operations, and make data-driven decisions to increase profitability. This software automatically forwards orders to multiple warehouses and dropship vendors for fulfillment, plus creates one-click purchase orders based on sales forecasting or reorder quantities.
Key Features:
- Manage their shipping operations from a single dashboard
- Handling dropshipping inventory
- Allows businesses to track inventory levels across multiple channels
- Sell and track kitted, bundled and assembly products
- Easily create and save return labels information and email customers the label directly
- Integrates with Amazon, eBay, Shopify, WooCommerce and more
Ordoro offers a free plan and advance plan start at $59/month.
6. Katana
Katana is a cloud-based inventory management software that is designed for small to medium-sized manufacturers and e-commerce businesses. It delivers every inventory management feature that manufacturers need, such as barcode-enabled parts tracking, production planning, assembly tracking, storage and shop floor management, supplier logistics and much more. It provides 24/7 phone support via chat and email with a one or two hour average response time, plus complete online knowledge base.
Key Features:
- Multichannel sales and manufacturing management
- Time-saving purchase order creation and tracking features
- Offers visual production scheduling and bill of materials management
- Integrates with most popular e-commerce platforms and shipping apps
- Manage products and their variants with the in-depth bill of materials/product recipes
- Lots of features for the money
Katana starting essential plan starts at $99/month.
7. Oracle NetSuite
NetSuite is an all-in-one business solution to help you with inventory management, accounting, and marketing. It provides users with a solid inventory management system and excellent financial platform that is easily expanded to be helpful for businesses of all shapes and sizes. The application provides several tools to automate the critical process of maintaining the proper amount of inventory to address service demands. It displays physical locations as a hierarchy, and you can create sub-locations or further break them down into bins for a deeper level of tracking.
Key Features:
- Intuitive and easy to navigate dashboard
- Automation features can support end-to-end processes
- Enables multi-location inventory tracking
- Enterprise resource planning features
- More than 350 integrations
- Multi-currency feature available
- Excellent customer relationship management
Oracle NetSuite pricing starts at $99/month.
8. Megaventory
Megaventory is a cloud-based inventory management service that runs very well on other devices and is a perfect choice for something like a manufacturing plant. Easily manage your material-based inventory and get manufacturing updates using this. It can help businesses optimize their inventory levels, track sales data, manage their orders and shipments, and make data-driven decisions to increase profitability.
Key Features:
- Allow businesses to manage their inventory across multiple sales channels
- Dropshipping and consignment sales and purchases
- Integrates with popular eCommerce like Shopify, Magento, and WooCommerce
- Multiple reports including gross profit and inventory value
- Supports expiry dates and batch numbers
- Capable to create and track sales orders, purchase orders, and work orders
Megaventory features a starting plan that costs $150/month.
Conclusion:
In this article, we try to help you find the best inventory management software for your businesses. It’s important to consider some key factors like affordability, user interface, industry-specific features, integrations, customer support, and unique tools when choosing an inventory management software. By considering these factors, businesses can find a solution that meets their specific needs and helps them streamline their operations, save time, and increase profitability.