Inventory Management Software

Finding software can be overwhelming. We've helped many businesses choose the right inventory management software so they can monitor stock and optimize ordering and storing processes.

Showing 1-20 of 160 products

Fishbowl InventoryFrontRunners 2019

Fishbowl is a hybrid manufacturing and warehouse management solution designed for small and midsize companies. Key features include inventory control, material requirements planning (MRP), job shop floor control, work order management,... Read more

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Recent recommendations: 86 recommendations

Platforms: MacWinLinux
Deployments: CloudOn premise
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NetSuite

NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read more

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Recent recommendations: 40 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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FlowTrac

FlowTrac is a cloud-based and on-premise warehouse management solution that helps companies manage their Inventory, Assets, Warehouse, Work In Process, and other specialty tracking requirements. The solution is suitable and deployed... Read more

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Recent recommendations: 31 recommendations

Platforms: MacWinLinux
Deployments: CloudOn premise
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Lead Commerce

Lead Commerce is an integrated order management suite that offers applications like inventory management, merchandise planning, and customer relationship management. The solution helps small and midsize businesses streamline and automate... Read more

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Recent recommendations: 23 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Zangerine

Wholesaler or distributor? Zangerine is built to simplify your inventory growth. Go live in 5 sessions. Control your whole business from BI, Purchasing, Inventory, E-commerce, CRM, Quotes, to Pick,Pack & Ship. Quickbooks integrates... Read more

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Recent recommendations: 22 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Agiliron Inventory Management

Agiliron cloud-based point-of-sale (POS) solution is designed to serve both in-store and mobile businesses as well as online sales channels. The system offers a host of features that work in tandem with the point-of-sale solution,... Read more

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Recent recommendations: 20 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Infoplus

Infoplus WMS is a web-based warehouse management software solution for small to midsize 3PLs, eCommerce Retailers, and Wholesalers focused on taking control of overall inventory, warehouse operations and shipping.  Key features include... Read more

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Recent recommendations: 17 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Pomodo by ADI

Pomodo Software offers a cloud-based orders and inventory management solution suitable for businesses of all sizes. It offers the ability to add modules to expand the solution to suit the business’ needs. Pomodo offers product management,... Read more

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Recent recommendations: 17 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Finale InventoryFrontRunners 2019

Finale Inventory is a cloud-based inventory and supply chain management solution designed for small and midsize businesses that offers stock management, purchasing, order management and reporting functionalities within a suite. The... Read more

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Recent recommendations: 15 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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TRXio

TRXio by Cairnstack Software is a cloud-based inventory solution that helps businesses of all sizes across various manage their assets, protect their brand and comply with industry standards. Within TRXio users gain access to demand... Read more

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Recent recommendations: 12 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Chondrion Inventory Management

Chondrion’s cloud-based selling and fulfillment suite is designed with a focus on automation instead of manual intervention. Integrated modules include Inventory Management, supply-chain optimization, Customer Service, Point-of-Sale... Read more

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Recent recommendations: 11 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Expedite Commerce

Expedite Commerce, built on Salesforce, is a cloud-based configure price quote (CPQ) solution that helps manufacturing, distribution and communication businesses with quote-to-cash processing, automatic billing and payments. Its key... Read more

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Recent recommendations: 10 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Odoo

Odoo is a fully integrated and customizable open-source suite of business applications including sales, CRM, project management, manufacturing, inventory, accounting and other business needs in one software solution. Odoo was designed... Read more

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Recent recommendations: 8 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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ERPAG

ERPAG is a cloud-based enterprise resource planning (ERP) solution. It is suitable for small and midsize businesses in various industries, including automobile, retail, education, information technology and more. Primary features include... Read more

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Recent recommendations: 7 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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eTurns

eTurns is a cloud-based inventory management solution that helps distributors and their customers automate inventory replenishment at the point-of-use (stockrooms, service trucks, etc.) using smartphones, scanners, RFID and IoT weight... Read more

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Recent recommendations: 7 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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MarginPoint Mobile Inventory

Marginpoint Mobile Inventory is a cloud-based inventory management solution that provides businesses in various industry verticals with tools for the management of warehouses, storerooms and fleets of service vehicles. Key features... Read more

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Recent recommendations: 7 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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AMICS

Advanced Manufacturing and Inventory Control Software (AMICS) for warehousing is a hybrid inventory management solution, which offers users various modules for managing their inventories, assets and warehouses. The solution can either... Read more

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Recent recommendations: 6 recommendations

Platforms: MacWinLinux
Deployments: CloudOn premise
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BiznusSoft Inventory Management Suite

BiznusSoft IMS is a cloud-based inventory management solution. Key features include product catalogs, price/rate books, supplier lists, warehouse management, threshold management, and order fulfillment. Our IMS app allows users to... Read more

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Recent recommendations: 5 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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Kechie

Kechie is a cloud-based inventory management suite that caters to small to midsize businesses in all industries. It’s an Adaptable & Easy to Use Solution, without needing any integrations. Kechie streamlines your business needs... Read more

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Recent recommendations: 5 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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GBCommerce

Global Business Commerce (GBCommerce) is a business solution that is a single entry portal featuring multi-channel listings and ensuring product attributes comply with sales channels. It’s applicable to various industries like Accounting,... Read more

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Recent recommendations: 5 recommendations

Platforms: MacWinLinux
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Buyers guide


Last Updated: February 26, 2020

What Is Inventory Management Software?

Inventory management software is software designed to track and manage items through various stages along the supply chain. Features include product categorization, sales and purchase order tracking, electronic scanning, and automatic ordering.

Retail businesses can typically use scaled-down systems focused on maintaining perpetual inventory data and stock levels, whereas businesses with complex supply chains often use the inventory management functionality in ERP systems or with strong warehouse management integrations.

Benefits of Inventory Management Software

While inventory can be tracked in Excel, spreadsheets only work for periodic inventory systems (i.e., inventory systems that are updated at intervals, say after stock takes). Inventory management software is necessary to enable a true perpetual inventory system, where stock levels are updated continuously as sales are made and goods are received. Benefits include:

  • Greater inventory accuracy
  • Reduced reliance on stock takes
  • Simplified accounting

Competitive Advantages of Using Inventory Management Software

Inventory management software can offer a competitive edge for e-commerce retailers, logistics providers and businesses in other industries where margins can be razor-thin:

  • Better synchronization: E-commerce retailers can synchronize inventory across digital channels (e.g., eBay, Amazon, Shopify etc.), physical retailers can synchronize multi-channel inventory across multiple stores and multi-channel retailers can synchronize e-commerce platforms with brick-and-mortar stores.
  • Greater efficiency: Inventory management systems can integrate with point-of-sale systems to update inventory in real time as sales are made.
  • Reliable tracking: Advanced inventory management in ERP systems enables end-to-end tracking of goods, from raw materials to retail shelf. Asset management and inventory tracking greatly improve.

Business Sizes Using Inventory Management Software

Inventory management software is used by businesses of all sizes, across a variety of industries.

Our internal data shows that of a sample of 1,676 inventory management buyers who contacted us recently, most were small businesses, with 91 percent employing fewer than 100 people, and 75 percent generating less than $5 million annually.

  • Smaller businesses typically use a scaled-down inventory management system in conjunction with a point of sale system and an accounting system.
  • Larger businesses (and enterprise businesses) typically use the inventory management tools of an ERP or supply chain management system, as these systems allow for inventory tracking across multiple links in the supply chain.

Software Related to Inventory Management

Inventory management functionality is included in a diverse group of software categories, such as:

Accounting software: Helps businesses automate their core accounting functions to more easily balance their books and provide proof of their financial standing. Systems typically include a centralized general ledger, accounts payable, accounts receivable, billing and invoicing and the ability to produce standardized reports.

Distribution ERP systems: These are required by a wide variety of businesses that operate in the middle of the supply chain between manufacturers and customers. Distribution software systems can feature a wide variety of functionality and features, including inventory management, warehouse management, customer management, order management and accounting.

Manufacturing ERP systems: Provides functionality to plan and execute projects from beginning to end, while automating materials planning, production tracking and scheduling and product lifecycle management.

Retail management systems: Many vendors combine point-of-sale systems with inventory management systems in a single platform. Retail ERP systems also include inventory management functionality.

Warehouse management systems: These systems are inventory control systems specifically designed for warehouse inventory that also offer software automation for crucial warehouse processes. Automating processes such as warehouse picking has been conclusively shown to be vastly more efficient than manual methods.

Features Guide

A List of Common Inventory Management Features/

Product categorization Tracks stock levels according to item attributes such as size, color, lot/serial number etc. Generate bill of materials and streamline the reorder process.
Sales/purchase orders Tracks each product sale, order, wholesale purchase, build or delivery and automatically updates the product quantity.
Order management Advanced systems like SAP, Oracle and Microsoft Dynamics can be set up to automatically reorder a product when it falls below a certain quantity.

specifying item attributes in activate inventory management

Specifying item attributes in Acctivate Inventory Management

Inventory Management Buyers' Top-Requested Features

At Software Advice, we've helped thousands of buyers find the right inventory management System. We've analyzed those interactions to determine the top-requested features by Inventory Management buyers, presented here:

Inventory Management Buyers' Top-Requested Features

top requested inventory management features

The Inventory Management Features You Really Need

Small business Perpetual inventory: Allows small retailers and e-commerce retailers to synchronize inventory across multiple locations and sales channels, both online and brick-and-mortar. Support for work order processing, inventory report, and invoicing are key features needed for small businesses to make smart business decisions.
Midsize business buyer RF support: Using barcode scanners for powerful inventory control improves accuracy and substantially speeds up processes like receiving, FIFO, and pick/pack/ship.
Enterprise business buyer Lot traceability: Manufacturers and large distributors are increasingly using lot and serial numbers to track products through their supply chains from raw materials to retail shelf.

processing a purchase order in fishbowl inventory

Processing a purchase order in Fishbowl Inventory

Pricing Guide

How Inventory Management Software Is Priced

Typically, inventory management software is priced according to a number of factors. There are different pricing tiers for businesses of varying size, based on:

  • Number of users
  • Number of locations and sales channels (multi-channel inventory)
  • Number of SKUs/products
  • Number of orders processed per month
  • Number of devices (client PCs, barcode scanners, mobile apps and mobile devices, etc.)

In addition, whether the software is hosted online or on-premise can make a difference in up-front versus recurring costs.

What Businesses Typically Budget for Inventory Management Software

We looked at a sample of buyer interactions to compare how much businesses are willing to budget either for monthly fees for cloud platforms or upfront, one-time fees for on-premise platforms. We've broken this data down by business size in terms of number of licensed users, since licensed users is one of the primary factors affecting pricing for inventory management systems:

Typical Inventory Management Software Budget

Typical Inventory Management Software Budget chart

Hidden Costs of Inventory Management Software

  • Hardware. Many businesses will need barcode scanners and printers, and retailers may also need hardware point of sale (POS) terminals.
  • Accounting integrations. Some vendors price their solutions based on how many accounting systems the inventory management platform integrates with.
  • End-to-end lot/serial number tracking. Businesses that need full traceability throughout the supply chain will need a full-blown ERP system, which is much pricier than scaled-down inventory management platforms.

FAQs

What Are the Key Functions of Inventory Management Software?

  • Perpetual inventory. With inventory management software, inventory is updated in real time as you receive purchase orders and process sales orders.
  • Elimination of manual processes. By using barcode scanners in conjunction with an inventory management system, you can speed up tedious processes such as stock takes/inventory counts. Support for mobile devices and the availability of a mobile app can be key features in finding the best inventory management software for your business.
  • Synchronized inventory. E-commerce retailers selling across multiple platforms/channels, retailers with multiple stores and distributors with multiple warehouses all need to synchronize inventory. This can't be done with spreadsheets, since inventory needs to be updated in real time, and requires an inventory management system.

What Questions Should I Ask Vendors When Evaluating Inventory Management Systems?

  • Do you integrate with my accounting software? Inventory management vendors typically support a range of accounting integrations out of the box, but they might not integrate with your particular system, or they might charge extra for the integration. If you're using QuickBooks, you should evaluate the many vendors that specialize in QuickBooks integrations.
  • How many active clients do you have in my particular industry vertical? Different industries track different things (e.g., color, size, expiration date, style, serial number). Many inventory management vendors specialize in industries such as apparel or pharmaceuticals. Vendors without experience in these verticals may claim to be able to handle an implementation in your industry, but implementation costs may be prohibitive and the functionality limited. Be sure your vendor has experience with businesses in your industry.
  • What level of support do you offer for warehouse processes? While many inventory management vendors claim to offer warehouse management functionality, typically it's basic, e.g., generating paper pick lists and tracking by warehouse location. If you need advanced features such as FIFO processes, voice-directed picking or slotting, you may need to look into specialized warehouse management systems.
  • Do you sell POS systems? What other hardware will I need? Retailers in particular should evaluate inventory management vendors that also sell POS systems. Distributors will typically need barcode scanners, label printers and other hardware to go along with the inventory management system.

What Are Some Drawbacks I Should Watch Out For?

There are no real drawbacks to using inventory management software, but there are drawbacks to choosing the wrong vendor for your business.

  • Only ERP systems offer lot traceability. Lot traceability requires the using a lot number as an item attribute for inventory tracking in all of the supply chain/inventory management/accounting software a business uses. Realistically, businesses should consider an integrated ERP system for lot tracking.
  • Crucial functionality for certain industries is missing from many platforms. Businesses that price inventory by weight (e.g., meat vendors, produce distributors) need to weigh inventory at crucial points in the supply chain for costing and inventory tracking. This is known as "catchweight management," and it's only found in specialized products. Additionally, advanced expiration date tracking and costing will require specialized products.
  • Inventory management offers varying levels of support for supply chain functions. Inventory management solutions are frequently scaled-down in comparison to ERP systems. They may lack some support altogether for supply chain functions, such as procurement or route optimization (for businesses with their own fleets). Logistics providers or 3PLs should be particularly careful when choosing a platform, since they specialize in areas of the supply chain where some inventory management vendors lack functionality.

Tips & Tools

Build a Business Case for Inventory Management Software

Here are three major ROI drivers for inventory management software:

  • Improved inventory accuracy. Periodic inventory systems based on spreadsheets are inefficient and prone to human error. Once businesses hit a certain size, they can realize major cost savings simply by improving inventory accuracy.
  • Synchronized inventory. By synchronizing inventory across multiple physical stores and e-commerce channels, you can avoid stock-outs and satisfy customers.
  • Automation of manual processes. Spreadsheets are incredibly time-consuming, as are inventory counts and the pick/pack/ship process. By partially or fully automating these processes, inventory management software can make your business run much more efficiently.

Popular Inventory Management Software Comparisons

FrontRunners

Your Guide to Top Inventory Management Software, March 2019

Software Advice uses reviews from real software users to highlight the top-rated Inventory Management Software products in North America.

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