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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 manage...Read more
With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more
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 deploy...Read more
AltheaSuite Inventory Management is a comprehensive inventory management solution for all businesses. It's a cloud-based SAS solution and works on all modern web browsers and devices. This solution is developed with a strong focus...Read more
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
Finale Inventory is an intuitive, cloud-based inventory management system that is easy to use while also designed to scale to the demands of a growing business. Seamlessly handle all stock movements from purchasing through to sale...Read more
Lead commerce is an Software as a Service (SaaS) inventory management solution that offers any size business a suite of applications like inventory management, merchandise planning and customer relationship management. ...Read more
Brahmin Solutions is a cloud-based Inventory and MRP software for fast-growing SMBs. The product is designed for manufacturers, retailers, and wholesalers to manage all operations dealing with purchasing, sales, inventory, and man...Read more
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 we...Read more
ERP Gold is an all-in-one order, inventory and shipping management software for E-commerce and multi marketplace retailers or wholesalers. It provides the easiest way to list, manage, and ship your inventory when selling on Amazon...Read more
PomodoTech Order Management from ADI Business Solutions offers a complete order fulfillment and shipping solution. This web-based or on-premise system is scalable and integrates with Microsoft Dynamics RMS. ...Read more
TRXio is a cloud-based inventory management solution engineered to help businesses track their assets and maintain their customer base through reporting and marketing tools. The system is compatible with iPads. ...Read more
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 integrate...Read more
SKULabs is a cloud-based inventory management and order fulfillment solution for small, midsize, and enterprise organizations. It helps e-commerce retailers and distributors manage their warehouse operations. SKULabs helps warehou...Read more
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 featur...Read more
NeverOut WMS is a complete warehouse management system, designed to manage all facets of a warehouse resulting in a virtually 100% accurate inventory.
NeverOut WMS features include Inventory Management (real-time accuracy), O...Read more
With strong proficiencies in project management, accounting, and customer relationship management, SAP Business ByDesign is a software-as-a-service solution for professional services with 25 or more employees. ...Read more
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 fe...Read more
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 ei...Read more
Jazva is a cloud-based e-commerce management solution with an array of functionalities for small to midsize B2B and B2C retailers that operate on a variety of online marketplaces and ship their goods from multiple warehouses or fu...Read more
Online inventory management software is a must-have tool for any business tasked with overseeing and tracking large amounts of physical inventory. This software provides transparency into quantities, locations and other aspects that are key for successful inventory management.
With so many options available, choosing the right online inventory management software for your business can be an overwhelming endeavor. Fear not, because we are here to help. Read on to learn more about online inventory management systems. Here’s what we’ll cover:
Online inventory management software is accessed through the internet, rather than through a program installed on your physical computers and servers. This greatly reduces your company’s hardware requirements. What’s more, the subscription-based pricing plans these systems typically offer tend to be less expensive than the traditional, desktop-based systems. This makes online inventory management software a cost-effective option for small businesses.
Common Functionality of Online Inventory Management Software
Most online inventory management systems offer a robust combination of tools and capabilities. This table lists some common functionalities of this software, all of which can have a positive impact on your business.
Real-time inventory management
Allows you to see your stock levels, incoming and outgoing orders, shipping information and a whole host of other measures in real time. This enables you to improve tracking and make informed decisions using up-to-date knowledge of your inventory.
This categorization capability is an essential function of most online inventory management systems. It allows you to store key product variations and differentiations in order to quickly and conveniently organize your inventory based on specific details, such as product color.
To more easily identify and input products in the system, many solutions use barcode or radio frequency identification (RFID) tags. Scanning these tags with barcode scanners or other devices provides information on the product, as well as actions that can be taken to manage it (e.g., mark it as received, sold or shipped).
Reporting and analytics
Provides access to user-friendly, data-driven dashboards articulating inventory levels, sales reports and other information you need. With this information in hand, you can make smarter decisions and optimize key components of your business, including pricing, shipping, purchasing and reordering.
Multichannel inventory synchronization
You may sell your products through multiple channels, including online and retail stores. The solution should be capable of providing the exact inventory status by checking all the channels where sales are occurring. Also, inventory should be synchronized with the order management module that notifies customers immediately if any product is out of stock.
Most tools offer real-time inventory status updates, as inventory management is the most critical task in running a business. It allows managers to check that inventory is stocked and fulfilled from warehouses for every order. Also, in case of low inventory or out-of-stock items, an automatic update is sent to warehouse managers that informs them to take action and order new inventory.
Benefits of Online Inventory Management Software
The insights gathered from inventory management software should aid the growth of your business. Choosing software that integrates with other systems used in your organization, such as customer relationship management (CRM) and accounting software, can provide you with even more detailed, accurate insights. This can help you set realistic goals and analyze business metrics.
Some of the key benefits of online inventory management software include:
Improved inventory ordering and control. Rather than toiling over an enormous spreadsheet to monitor inventory, this software enables you to easily manage it all. The system provides detailed, real-time stock levels as well as projections of future inventory requirements.
Reduced inventory costs. With accurate inventory monitoring and ordering capabilities, you can prioritize stocking items that generate the most revenue and delay restocking underperforming items.
Accurate forecasting. Reporting and analytics capabilities enable you to spot monthly, weekly and yearly trends. These trends can inform you of future inventory projections, so you can make sure you’re properly stocked on important items.
Mobile access. Using cloud-based inventory management, you can access your backend software from any compatible device with an internet connection. That means you can place and/or confirm orders, monitor inventory levels and complete a whole host of other tasks from anywhere, as long as you are connected to the internet.
Key Considerations for Inventory Management Software
As a new buyer, you should consider these key factors before making a purchase decision. Depending on the size of your business, your budget and other factors, it is not necessary to choose a product that offers every possible feature. Rather, it is wise to select a solution based on your immediate requirements and upgrade as the business grows.
Here’s what you should look for:
Integration with existing applications. The solution should offer integration with third-party CRM and accounting software to avoid duplicating tasks for end users. It should be able to automatically sync all customer, finance and order-related data with other systems and generate a consolidated report.
User-friendly interface. The software should have an easy-to-navigate interface that enables quick adoption within the organization. Training your staff on new technology can be expensive for SMBs. Therefore, the solution should be intuitive, require minimal training and ultimately, encourage usability among the staff.
Reliability and security. Software should enable administrators to manage access and permissions for each user and record their behavior in real time. It should also be able to protect the inventory database from unauthorized access, as this information is critical for the business.
Warehouse integration. Your business might have multiple warehouses in different states to store inventory and better serve customers across the country. It’s essential that each location is integrated so users can quickly view inventory levels. The solution should also allow users to select one warehouse as their primary location and fulfill their orders from a single screen.