Inventory Optimization Software

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Showing 1 - 20 of 140 products
Showing 1 - 20 of 140 products

Fishbowl

Fishbowl is the #1 manufacturing and warehouse inventory management software! Its powerful inventory control system gives your small or midsize business the exact tools needed to transform your inventory management and scale your ...Read more

4.17 (764 reviews)

72 recommendations

NetSuite

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

4.11 (832 reviews)

43 recommendations

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 deploy...Read more

4.82 (37 reviews)

36 recommendations

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 featur...Read more

4.64 (28 reviews)

33 recommendations

Sellercloud

SellerCloud is a multi-channel e-commerce platform designed for organizations of all sizes. It synchronizes online inventory and distribution, provides real-time reports, and generates shipping information. The system's single-sou...Read more

4.52 (27 reviews)

19 recommendations

Finale Inventory

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

4.70 (181 reviews)

18 recommendations

Agiliron

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

4.47 (33 reviews)

14 recommendations

AltheaSuite

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

5.00 (9 reviews)

13 recommendations

Linnworks

One Platform. Total Commerce Control. Linnworks is a leading commerce automation platform that works with the world’s major marketplaces and selling channels. Linnworks connects, manages and automates commerce operations, power...Read more

4.15 (24 reviews)

12 recommendations

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 integrate...Read more

5.00 (10 reviews)

9 recommendations

Software pricing tips

Read our Inventory Optimization Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

SAP S/4HANA Cloud

SAP S/4HANA is a cloud-based and on-premise enterprise resource planning (ERP) solution. It is suitable for small, midsize and large businesses in industries such as automotive, engineering, construction, mining, research and deve...Read more

4.29 (262 reviews)

5 recommendations

Kechie

Kechie Distribution Management efficiently manages internal and external resources. Suited for growing businesses, the management tools provide control of replenishment, warehouse management, pick, pack, and ship, procurement, pro...Read more

4.68 (19 reviews)

5 recommendations

ArbiMed Inventory

ArbiMed Inventory is a cloud-based inventory management solution designed for the medical and other clinical industries. With ArbiMed Inventory, medical professionals and administrators can easily track valuable medical assets fro...Read more

4.30 (37 reviews)

4 recommendations

Quickbase

Quickbase is a low-code application development platform that enables organizations to unite information, people, and workflows within distribution in a single, cloud-based platform. Unlike traditional software solutions, Quickbas...Read more

4.45 (243 reviews)

3 recommendations

eTurns

eTurns TrackStock is a modern VMI app distributors can use to replenish their customers' stockroom and truck inventory in an optimized way. Using QR code scans or SensorBins, eTurns tracks usage and auto-replenishes. Distributor r...Read more

4.38 (55 reviews)

3 recommendations

Acctivate Inventory Management

Built for growing product-selling businesses using QuickBooks, Acctivate is a premium inventory management & multi-channel order fulfillment add-on that helps you focus on growth without operational limitations. Solve for QuickB...Read more

4.15 (109 reviews)

2 recommendations

Jazva

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

3.52 (23 reviews)

1 recommendations

EZ StockPro

Stock Pro is a warehouse management solution that supports the end-to-end process of receiving, tracking, and fulfilling customer orders. StockPro fits for small to midsize businesses, up to 50MM annual revenue, and 100 employees....Read more

5.00 (4 reviews)

1 recommendations

Shipedge

Shipedge is a cloud-based warehouse management solution for small, midsize and large enterprises. It caters to e-commerce warehouses, fulfillment service providers, third-party logistics companies (3PL/4PL), omni/multi-channel ret...Read more

5.00 (1 reviews)

1 recommendations

QuickBooks Desktop Enterprise

QuickBooks Enterprise is an accounting solution designed for SMBs across different industry verticals such as construction, nonprofit distribution, manufacturing, and retail. With QB Enterprise solution, any business owner can exp...Read more

Buyers Guide

Last Updated: July 01, 2022

In a complex business environment where companies support many sales and purchase channels at multiple locations, accurate planning and forecasting of inventory can be challenging. Without proper management, excess inventory can obstruct your supply chain and working capital.

If you're still using manual methods to estimate the items and their quantities for your inventory, you need to look to automation to optimize your inventory.

Inventory optimization is the process of calculating and determining the right inventory levels across your organization's supply chain. This lets you satisfy customers—who expect a quick delivery time—as well as reduce the high costs of stocking large quantities.

After all, keeping materials and products on the shelf for longer than required drives up your costs. With inventory optimization software, you can increase your visibility across your whole supply chain and ensure that your products stay on the shelf only for the requisite time.

We wrote this buyer's guide to help you understand how inventory optimization software works. This guide provides details on everything you need to know, from benefits to features, before purchasing an inventory optimization solution.

Here's what we'll cover:

What Is Inventory Optimization Software?
Common Features of Inventory Optimization Software
What Type of Buyer Are You?
Benefits of Inventory Optimization Software
Key Considerations
Popular Inventory Optimization Software Comparisons

What Is Inventory Optimization Software?

Inventory optimization software helps businesses control and optimize inventory levels across different warehouse locations. It keeps track of the different products and materials in stock and analyzes the items, as well as the quantities, that need to be reordered.

This software serves as a critical tool for managing perishable inventory, such as food items and medicines. It also analyzes an organization's historical sales and demand data to generate insights on how to optimally utilize and maintain your warehouse operations.

EazyStock software's inventory optimization graph

Inventory optimization graph in EazyStock software

As with most complex challenges, selecting the best inventory optimization software tool for your business is easier when you break it down into parts. In the next section, we break down the most common applications and features of this software.

 

Common Features of Inventory Optimization Software

Vendors offer a variety of functional breadth and depth in their inventory optimization solutions. Most inventory optimization software vendors offer some or all of the following capabilities:

Demand forecast

Review historical sales and demand data to automatically select the right statistical model for calculating future demand. Users can also modify and re-evaluate the demand forecast based on additional information from the key management team, suppliers or vendors.

Projected inventory levels

Calculate and display accurate inventory levels for future periods. The projected inventory levels are calculated based on the organization's current inventory, demand forecast and incoming supply.

Order planning

Get replenishment suggestions and create an order plan by analyzing when, which and how much of an item to order. Upload the order proposal data to your connected purchasing system (e.g., material requirements planning system) for further action.

Stock-out and overstock alerts

Alert your organization in case any product is in short supply, or in excess, in your inventory.

KPIs and reports

Monitor business performance with a customizable dashboard that includes operational key performance indicators (KPIs), graphical reports and various filters. These will help users make informed decisions about inventory optimization.

Integrations

Integrate the software with your existing systems such as material requirements planning (MRP), enterprise resource planning (ERP) and warehouse management software (WMS) systems.

To further understand these features and the vendors in this category, call our advisors at (844) 687-6771 for free, no-obligation help. They'll help you narrow down your options by understanding your requirements and recommending the best-suited solutions for your business.

As you begin shortlisting solutions, you need to understand the type of buyer you are, to better narrow down your requirements. The next section breaks down the most common buyer types.

What Type of Buyer Are You?

Inventory optimization software is used by businesses of all sizes, across a variety of industries. Before you start evaluating different inventory optimization software, you should know your buyer category. We believe most buyers of this software fall into one of the following categories:

  • Small businesses. These buyers have simple requirements; they're looking to improve their inventory demand forecast and order planning. Most are currently using manual methods, so the transition to automated systems should be slow and methodical. They should start with the basic inventory optimization features so employees have time to learn the solution.
  • Midsize businesses. These buyers require additional features because they deal with a relatively higher volume of customers, suppliers and vendors. They're operating from multiple facilities and require additional features such as projected inventory levels, as well as stock-out and overstock alerts.
  • Large businesses. These buyers typically use the inventory optimization functionality offered in an ERP software suite. They need a single system that controls all their manufacturing and inventory functions in order to centralize the exchange of information between different applications.

Benefits of Inventory Optimization Software

While some of the benefits of inventory optimization software should be clear from our discussion above, we've called out the most important ones below:

  • Improved cash flow. Accurate demand forecasting and projected inventory levels help organizations reorder only the required products. This results in lower handling and storing costs, thus improving the overall cash flow.
  • Enhanced customer service, satisfaction and loyalty. High customer satisfaction is an obvious market advantage. Product availability at all times will lead to higher satisfaction rates among customers, helping you ensure better customer retention rates and greater customer loyalty.

Key Considerations

To conclude this buyer's guide, here are some important questions to consider before you purchase and implement inventory optimization software:

  • Is the software scalable? Ask your shortlisted vendors about the scalability of their inventory optimization software. Scalability is essential when your organization grows—the software should be capable of efficiently handling your expanding business needs. For instance, it should be able to support multiple warehouses and distribution centers at various locations.
  • Does the software support integrations? Check with the vendor whether the solution supports integrations with your existing systems, such as MRP, ERP or WMS. Quick and seamless integration will help you efficiently import and export data.
  • Does the vendor offer customer support? Find out whether the vendor offers support 24/7, only during business hours or not at all. In addition, ask about available support options such as email, phone or live chat.

Popular Inventory Optimization Software Comparisons