As a business owner, keeping track of inventory can be overwhelming. Thankfully, there is inventory management software available to make the process easier and more efficient.
But with so many options available in the market, it can be tough to choose the best one for your business. In this blog post, we will discuss everything you need to know about inventory management software.
From what it is and its benefits, to the different types of software available and their pricing plans, as well as fulfillment and barcode options and analytics and reporting features. We will even delve into ERP solutions such as Oracle Netsuite and eCommerce integration with Amazon.
Read on for our ultimate guide to the best inventory management software, so you can make an informed decision for your business needs.
Which Software is Used for Inventory Management- The Ultimate Guide
Inventory management is crucial for any business that deals with physical products. It involves keeping track of stock levels, reordering products when necessary, and ensuring that everything is properly recorded.
To make this process more manageable, businesses often use inventory management software. But with so many options available in the market, how do you choose the right one?
What is Inventory Management Software?
Inventory Management Software is a software tool that helps track and manage inventory levels, orders, sales, and deliveries.
It can automate many inventory-related tasks, such as stock monitoring and reordering. This software provides real-time data insights on inventory levels to reduce stock-out situations.
Examples include QuickBooks, Zoho Inventory, and TradeGecko.
Best Inventory Management Software Options
Finding the best inventory management software can be a game-changer for your business. Cloud-based solutions like Zoho Inventory offer real-time visibility into stock levels and even shipping integration with POS support.
For advanced forecasting and pricing tools, QuickBooks is a popular choice among business owners. If you’re a small business looking for an all-in-one solution for purchase orders and sales channels with great pricing options then TradeGecko is a must-have.
By streamlining workflows with the right inventory management system in place, businesses can stay ahead of the competition.
Zoho Inventory: Best Overall
inFlow Inventory: Best Budget Buy
For small businesses seeking a budget-friendly inventory management solution that doesn’t compromise on functionality or scalability, inFlow Inventory is the ideal option.
This software offers advanced features such as barcode scanning and purchase order management while seamlessly integrating with popular e-commerce platforms like Shopify and WooCommerce.
Additionally, inFlow’s user-friendly interface makes it easy to navigate the system without extensive technical knowledge.
Small business owners seeking an intuitive inventory management system should consider inFlow Inventory.
Fishbowl – Good QuickBooks Integration
Fishbowl is one of the best inventory management software options available today. It has excellent features like barcode scanning and real-time inventory tracking along with being a great option for small businesses.
Moreover, it comes with good QuickBooks integration allowing easy synchronization of financial data. The software also provides customizable reports and analytics to help businesses make informed decisions about their supply chain and sales channels.
Handifox – Best Mobile App
Manage your inventory with ease using Handifox – the ultimate mobile app for small businesses. Keep track of your stock levels in real-time while managing sales channels and creating shipping labels.
Take advantage of its seamless integration with popular accounting software like Quickbooks and Xero. Try it today with a free trial period.
Logiwa – Best for Warehouse Management
For businesses looking for an inventory management solution that focuses on warehouse management, Logiwa is the best inventory management software option available.
As a cloud-based platform with user-friendly interfaces and customizable workflows, Logiwa offers functionalities such as order management, shipment tracking, and forecasting in addition to its core warehouse capabilities.
Its real-time data analytics and reporting tools provide visibility into supply chain performance while also integrating with popular platforms like Shopify and Amazon.
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TradeGecko – Best for Small Businesses
For small business owners looking for the best inventory management software, TradeGecko is a top choice. With features like real-time visibility into stock levels, order management, shipping integration, inventory forecasting, and demand planning workflows across multiple sales channels; TradeGecko helps you stay on top of your inventory at all times.
Additionally, its user-friendly interface makes it easy to set up and use even for non-technical users.
ecomdash – Best for eCommerce
Ecomdash stands out as an ideal inventory management system for mid-sized eCommerce businesses due to its feature-rich functionalities such as order tracking and inventory control.
Moreover, ecomdash has earned a good reputation for providing reliable cloud-based solutions at remarkably affordable pricing rates compared to other management systems available in the market.
The software allows seamless integration with sales channels like Amazon, eBay and Shopify making it easier for business owners to manage their orders efficiently without any hassle.
Features of Inventory Management Software
Effective inventory management systems provide a wide range of features that can help business owners streamline their supply chain processes.
Among them are real-time inventory tracking, automatic reordering, barcode scanning, integration with shipping and accounting software, and customization options tailored to unique workflows.
Selecting the best inventory management system for small businesses like TradeGecko or ecomdash means saving time and money by efficiently managing stock levels without overstocking or stockouts.
Basic Inventory Management Features
Inventory management systems facilitate efficient tracking of inventory levels, sales orders, and purchase orders for optimal supply chain optimization while minimizing excess inventory.
Inventory software also automates the reordering process along with generating reports which includes barcode scanning, serial number tracking or multi-location support.
Consider business-specific needs & budget when selecting a suitable software.
Traceability Inventory Management Features
Efficiently track inventory with traceability features in top-rated inventory management systems. Traceability features help you attain compliance, reduce errors and improve forecasting.
They also allow identification of sources of flaws or defects in stock and provide vital insights for future planning.
While choosing an inventory management solution, it is essential to consider traceability options that match your business workflows.
Advanced Inventory Management Features
For a comprehensive solution, advanced inventory management features are essential in the best inventory management software.
Such features include real-time tracking of inventory levels, automated reordering, barcode scanning, and predictive analytics for forecasting demand and optimizing inventory levels.
It’s also important to consider integration with other systems like accounting or e-commerce platforms while choosing the best app.
Streamlining workflows, reducing errors and optimizing supply chain are some benefits for small businesses offered by some apps like Zoho Inventory or Inflow Inventory (which offers free trials).
Benefits of Inventory Management Software
Efficiently manage your inventory levels with the best inventory management software. Leverage Zoho Inventory’s real-time tracking features to make informed business decisions or use the app’s POS system and shipping integrations to streamline your workflows.
Automate purchase orders and track inventory with Fishbowl and Quickbooks integration. Logiwa is perfect for warehouse management while ecomdash is best suited for eCommerce businesses.
Don’t forget that Cloud-based solutions like Handifox allow mobile access while maintaining barcode scanning and forecasting capabilities.
Managing Your Products for Sales Success
Simplifying product management is crucial to drive sales success. Experience the best inventory management software to track stock levels and monitor sales with ease.
By keeping a constant check on inventory data via automated alerts for low stock levels or through email notifications; save time and ensure customer satisfaction.
Invest in Zoho Inventory- a powerful POS system that offers real-time tracking of inventories with QuickBooks integration for simplified accounting regimes. Get started with our free trial and experience the difference!
Maintain Accurate Stock Counts
Inventory management software is a crucial tool for any business looking to maintain accurate stock counts.
With features like real-time tracking of inventory levels and automation of reordering and restocking tasks, the software enables businesses to avoid overstocking or understocking, make informed decisions about purchasing and merchandising based on insights into slow-moving or fast-selling items, and save time while reducing errors.
From small businesses to large enterprises, cloud-based systems like Zoho Inventory offer solutions that cater to all types of businesses.
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Save Time By Automating Inventory Tasks
By automating inventory tasks using the best inventory management software, businesses can save time, reduce errors, make informed decisions about restocking using real-time data, streamline across multiple locations or warehouses with barcode scanning and mobile access.
Managers can track performance with analytics dashboards and workflows. The Zoho Inventory app integrates with POS systems, shipping carriers, email services, QuickBooks, CRM and more.
Try Zoho Inventory’s cloud-based inventory management system with free trial and affordable pricing plans.
What Type of Inventory Software Does Your Business Need?
When choosing inventory software, it’s essential to evaluate your business’s individual needs. Basic software may suffice for small businesses with limited inventory, while larger ones may require more advanced features. Factors such as supply chain complexity and budget should also be considered.
The ideal software should offer real-time tracking, automated ordering, and customizable reporting.
New Buyers and Small Businesses
For new buyers and small businesses looking for the best inventory management software, it’s important to consider factors like scalability, ease of use, and customer support.
Basic software may be sufficient, but advanced features like real-time tracking, automated ordering, and customizable reporting are ideal.
With an app like Zoho Inventory, you can streamline inventory management across multiple locations or warehouses using barcode scanning and mobile access.
Make sure to take advantage of free trials before committing to a subscription.
Existing Users Desiring Functions Beyond Basic Inventory Management
Inventory management systems come in various forms to cater to existing users who desire functionalities beyond basic requirements.
Opt for an ideal inventory software that offers real-time tracking and automation for ordering and replenishing with tailor-made reporting features.
Cloud-based inventory software offers remote accessibility for seamless collaboration. While choosing the right-fit option for your business needs, consider ease-of-use quotient along with customer support availability.
Advanced-level inventory systems offer predictive analytical insights and forecasting functionality as add-ons.
Compare Inventory Management Software Pricing
Effective Inventory Management Software Pricing:
To make informed decisions when choosing the best inventory management software for your business needs, you must evaluate its pricing options carefully.
It is important to consider how the software integrates with your current systems and seek out flexible pricing models that suit your budget.
Assessing scalability is crucial to ensure a seamless transition as your business grows. Don’t forget to read reviews and gather recommendations from industry peers before making a decision.
Zoho Inventory Pricing Plans
Zoho Inventory provides a range of options for businesses looking for inventory management software. Their pricing plans cater to companies of different sizes and budgets.
The Basic plan, starting at just $39 per month, includes essential features such as order management, invoicing, and stock tracking.
For more advanced capabilities like sales forecasting or purchase order management, businesses can opt for the Standard or Professional plans which are priced at $79 per month and $199 per month respectively.
inFlow Inventory Pricing Plans
InFlow Inventory provides various pricing plans to fit the needs of businesses of all sizes. Their Basic package is priced at $71 per month when paid annually and serves well for small organizations.
For those looking for additional functionality and support, the Advanced program is better suited at $179 per month annually. Larger firms can opt for the Premium package priced at $399 per month yearly.
Fishbowl Pricing Plans
Fishbowl offers three distinct pricing plans – Fishbowl Warehouse, Fishbowl Manufacturing, and Fishbowl Commerce.
The former caters to small and medium-sized enterprises seeking basic inventory management functionality.
The latter two are geared toward businesses with more specific needs; the Manufacturing plan includes advanced manufacturing capabilities like bill of materials and work orders while the Commerce plan provides solutions for companies operating on e-commerce platforms such as inventory syncing.
Handifox Pricing Plans
Handifox pricing plans are tailored to suit varying business sizes and needs. Their Basic plan caters to small businesses that require fundamental inventory management features, while the Professional plan offers more advanced capabilities such as barcode scanning and seamless integration with QuickBooks.
For larger businesses with complex inventory requirements, Handifox’s Enterprise plan has got them covered. It’s essential to consider the pricing and features of various inventory management solutions before making a final decision.
Logiwa Pricing Plans
Logiwa, one of the best inventory management software options available in the market, provides three cost-effective pricing plans: Starter, Growth, and Enterprise.
For small businesses with basic inventory needs, Logiwa’s Starter plan is perfect. Medium-sized businesses that require advanced features can opt for the Growth plan.
Enterprises requiring complex inventory management can choose the Enterprise plan.
Additionally, their free demo and trial period offer real-time visibility into stock levels and workflows to streamline supply chain processes.
TradeGecko Pricing Plans
TradeGecko’s pricing plans cater to the requirements of small businesses as well as larger enterprises. Their Starter plan begins at $99/month and suits companies with basic inventory needs.
In contrast, the Business plan ($399/month) offers advanced features like batch & expiry tracking to growing businesses.
Lastly, the Premium plan includes custom pricing and is perfect for those seeking more specialized solutions for complex inventory needs.
Additionally, all plans come with unlimited orders/products/customers and seamless integrations with popular eCommerce platforms.
ecomdash Pricing Plans
Ecomdash’s inventory management software solutions offer various pricing plans including a $60/month option for businesses of all sizes.
These include features such as order and listing management, shipping integrations, and reporting tools. Additionally, they offer a free 15-day trial so that businesses can try the software before committing to it.
Fulfillment and Barcode Options
Efficiently managing your inventory levels requires powerful software with a range of workflows. Choose an app that offers real-time inventory tracking and effortless barcode scanning to improve accuracy and efficiency.
Manage multiple warehouses and locations with ease while evaluating reporting capabilities like inventory forecasting and sales analysis.
Make sure you’re handling fulfillment seamlessly with expert features like order routing and shipping carrier integrations.
Zoho Inventory Fulfillment Options
Zoho Inventory provides versatile fulfillment choices for businesses like dropshipping where they don’t need to stock their inventory, self-fulfillment that grants full control over the shipping process and third-party fulfillment where companies partner with logistic providers.
Additionally, Zoho Inventory offers barcode scanning capabilities for efficient inventory management.
inFlow Inventory Barcode Support
Efficiently manage your inventory with InFlow Inventory’s barcode scanning and printing capabilities. Quickly track items by scanning barcodes to reduce errors and save time.
InFlow Inventory supports various formats like UPC and EAN codes for easy tracking. Experience streamlined workflows with real-time visibility into your stock levels.
Take advantage of their free trial to see how InFlow Inventory’s features like order management and invoicing improve your supply chain.
Fishbowl Fulfillment Options
As one of the best inventory management software options available, Fishbowl offers multiple ways to handle order fulfillment.
Dropshipping enables retailers to expand their product line-up without managing their stock levels. On the other hand, direct shipping empowers businesses by giving them more control over logistics while streamlining their processes through barcode scanning technology.
By using Fishbowl’s advanced features for order fulfillment, your business can become more efficient and accurate than ever before.
Analytics and Reporting
Advanced analytics and reporting are an essential component of inventory management software for making informed decisions.
Customizable options integrate seamlessly with other software solutions such as e-commerce or accounting platforms to provide real-time insights into supply chain visibility.
With advanced workflows and forecasting capabilities coupled with barcode scanning technology to track shipments from order placement to delivery ensure accuracy in inventory control.
Oracle Netsuite offers comprehensive analytics support while Cin7 is the best ERP solution for business owners seeking optimal functionality.
Zoho Inventory Analytics Support
With Zoho Inventory Analytics Support, you get real-time visibility into inventory levels, sales channels & purchase orders across multiple locations.
Create customizable reports and dashboards to track your KPIs like never before.
Seamless integration with other Zoho products such as CRM and accounting software makes inventory tracking and email communication effortless for business owners.
inFlow Inventory Analytics Support
Gain valuable insights into your business with inFlow Inventory’s robust analytics and reporting features.
Track your sales channels’ performance and optimize for profitability using the software’s real-time data visibility into your inventory levels.
Generate custom reports and dashboards that provide a detailed overview of your workflows’ performance and identify areas for improvement.
Take control of your supply chain by utilizing our inventory forecasting and demand planning tools. Try inFlow Inventory now with our 14-day free trial.
Fishbowl Reporting Options
Fishbowl inventory management software offers customizable reporting options tailored to meet the specific needs of businesses.
Reports generated by Fishbowl’s software include inventory levels, sales trends, and customer behavior.
Additionally, the software enables forecasting and analysis based on historical data to facilitate informed decision-making around inventory management.
These powerful reporting features provide business owners with a comprehensive overview of their stock levels and performance metrics.
Oracle Netsuite and ERP Solutions
Cloud-based ERP solution Oracle Netsuite offers real-time visibility into inventory levels, sales trends, and order fulfillment status while streamlining business operations with integrated financial management capabilities.
Notable alternatives include SAP Business One and Microsoft Dynamics 365.
Oracle Netsuite Features
Streamline your Inventory Management with Oracle Netsuite – a comprehensive cloud-based solution that enables automated replenishment of stock as per pre-defined rules and increased visibility into inventory performance through advanced analytics tools.
This top-rated inventory management software ensures real-time tracking of your products and helps manage everything from procurement to fulfillment effortlessly.
Additionally, its integration with ERP solutions allows you to streamline supply chain management and boost operational efficiency.
Best ERP Solution: Cin7
As an all-in-one inventory management solution, Cin7 is designed to help businesses manage their inventory efficiently without any hassle.
It offers a comprehensive set of features ranging from order management and warehouse management to point of sale systems.
What’s more, it integrates with multiple sales channels like Amazon and Shopify to streamline your business operations effortlessly.
With customizable reports and analytics right on the dashboard, you can make informed decisions about your stock levels and forecasting needs quickly.
eCommerce Integration
Efficient eCommerce integration requires an inventory management system that seamlessly integrates with your eCommerce platform.
The ideal software automates tasks like inventory updates, order management, and shipping processes. Choose the level of integration needed and ensure compatibility with existing tools.
Ensure efficient workflows by incorporating a cloud-based ERP solution like Oracle Netsuite. Make data-driven decisions using analytics and reporting dashboards that provide visibility into inventory performance and stock levels.
Best for eCommerce: Ordoro
For eCommerce businesses looking to optimize their workflows and streamline their fulfillment process while eliminating errors, Ordoro is the ideal inventory management software solution.
With seamless integration with major platforms like Amazon and eBay as well as advanced features like automated order routing, barcode scanning and real-time tracking all available in one dashboard – Ordoro makes managing your orders and inventory control easier than ever before.
Amazon Integration
For eCommerce businesses looking to streamline their operations and improve efficiency through inventory management software solutions, it is vital to choose those that seamlessly integrate with sales channels like Amazon. Such software tracks inventory levels in real-time and manages listings efficiently across multiple platforms.
This makes it easier to manage sales channels and operate efficiently without overburdening resources. With the right inventory management system in place, businesses can enhance productivity while simplifying supply chain workflows.
Additional Key Terms to Know
To excel at inventory management software, understanding various concepts is critical. Concepts like barcode scanning, real-time tracking, safety stock, reorder point, and lead time are crucial for efficient inventory management.
Additionally, knowledge of Zoho Inventory or POS systems can help in enhancing workflows and supply chain functions.
For small businesses seeking growth through online sales channels like Shopify or Amazon integration can be helpful.
The Ultimate Guide to Best Inventory Management Software
Effective inventory management software is vital for any business owner looking to optimize their supply chain.
The right inventory management system will help you keep track of inventory levels in real-time while streamlining POS and shipping processes.
Zoho Inventory is an excellent cloud-based option that offers workflows for purchase orders and shipment tracking along with a mobile app for Android and iOS devices.
Other top picks include Oracle Netsuite ERP solutions for wholesalers’ with complex needs and Shopify’s simple yet intuitive interface for small businesses looking to sell across multiple sales channels.
Frequently Asked Questions
What are some key features to look for in inventory management software?
When choosing inventory management software, consider features like real-time tracking of stock movements and levels, automatic reordering, integration with other business systems, and customizable analytics. These can help optimize inventory performance over time.
Are there any industry-specific inventory management software options available?
Absolutely, there are inventory management software options designed for specific industries. For example, Fishbowl is ideal for manufacturing, while TradeGecko is perfect for eCommerce.
These types of software may have features that cater to industry-specific needs. It’s crucial to research and select a solution that aligns with your business requirements.
How can inventory management software help streamline my business operations?
Utilizing inventory management software can automate tracking, minimize errors, and provide real-time data for informed purchasing and sales decisions.
It can also forecast demand and prevent stockouts, leading to cost savings and increased customer satisfaction.
Conclusion
In conclusion, the right inventory management software can make all the difference in streamlining your business operations.
From tracking stock levels to managing orders and shipments, there’s a lot that inventory management software can help you with.
But with so many options out there, it can be overwhelming to choose the right one. Our ultimate guide on the best inventory management software breaks down everything you need to know, from features and benefits to pricing plans and fulfillment options.
So whether you’re a new buyer or an existing user looking for advanced functions, download our guide now to make an informed decision for your business.