7 Top-Rated Free Inventory Management Software

By: Saumya Srivastava on July 2, 2024

Managing a warehouse can involve challenges such as stockouts, shipping errors, broken workflows, and inefficient inventory management. Investing in inventory management software can simplify operations by automating inventory tracking, purchase orders, warehouse transfers, reporting, and inventory valuation. Additionally, inventory managers can use the tool to prepare product catalogs, set product pricing in multiple currencies, and manage vendor profiles.

If you want to try out the tool before investing, we suggest starting with a free trial or free version to assess whether the software is suitable for your small business needs. To assist your software search, this article highlights, in alphabetical order, seven top-rated free inventory management software tools based on verified user reviews.

All featured products offer a free trial, a forever free version, or both. They are categorized into dedicated inventory management and control systems with core features, including inventory optimization, inventory tracking, and product identification.

What is free software vs. free trial software?

Free software is software that users can access without incurring any costs. To meet this criterion, a software solution must grant users free lifetime access to either all or some of its features. On the other hand, a free trial allows users to try out the software with complete or partial feature access for a limited period. Unlike free software, which is free forever, a free trial requires payment after a specific timeframe.

We selected products for this article based on their average ratings between June 2022 and June 2024, which may differ from their current overall average ratings.

1. Finale Inventory

Free trial period

14 days

Free version

No available

Finale inventory management system offers a free trial for users. It lets you group multiple products together and manage them as a single unit “Kitting and Bundling”. For example, your hardware store can sell a “DIY tool kit” that includes a hammer, screwdriver, and nails instead of listing them separately for customers to pair. You can define the “Kit” by specifying the type and number of products to include in each kit. The tool tracks the inventory levels of each component and when a kit is sold, it automatically deducts the product quantity from your inventory. These kits also have a unique identification number for inventory tracking and audits.

Free trial features*:

  • Product management: Add, edit, categorize, and bundle products in the catalog. Create product profiles with stock-keeping unit (SKU) descriptions, images, variants, and unit costs. 

  • Inventory tracking: Track stock levels in real time across the warehouse and sales channels. The feature allows setting minimum and maximum stock levels to automate reordering and send low-stock alerts.

  • Reporting: Access basic reports on inventory levels, sales performance, and stock history on a centralized dashboard. 

Cost to upgrade: $99 per month

Billing cycle: Monthly

Customer support options: Help center, knowledge base, FAQs, phone call, and email

Finale Inventory

Finale Inventory

4.73 out of 5 stars

207 reviews

2. Odoo

Free trial period

Available upon request from the vendor

Free version

Available

Odoo is a suite solution that offers both free and free-trial plans. You can select only a single module (inventory management in this case) for free while the free trial offers inventory management, sales, marketing, accounting, customer relationship management (CRM), HR, project management, and point of sale (POS). The Odoo inventory management module enables you to set automated purchase orders based on changing inventory levels and vendor follow-ups for PO acknowledgment and receipt schedule confirmation. You can also track inventory in real time using serial numbers, lots, and packaging reservations. This enables you to find the location of all your products across multiple warehouses or companies.

Free and free trial features*:

  • Barcode scanner: Scan the product’s barcode to access details or perform actions such as adding it to a stock operation, picking it from an order, or registering its sale.

  • Smart routes: Create custom routes to automatically plan transfer inventory between multiple warehouses or deployment locations.

  • Inventory valuation: Use first-in, first-out (FIFO), average cost (AVCO), and standard price costing methods. The feature allows generating real-time cost reports based on vendor bills, taxes, tariffs, fuel surcharges, and other handling fees.

Cost to upgrade*: $21 per user per month

Billing cycle: Annual

Customer support options: Chat, knowledge base, forum, phone call, email, and FAQs

*Pricing converted from Euro to USD using xe.com

Odoo

Odoo

4.15 out of 5 stars

861 reviews

Pro tip

Consider multilocation warehouse management when selecting inventory management software. This can assist with tracking stock levels as well as inventory transfers with the data available within a centralized system.

3. Order Time Inventory

Free trial period

Available upon request from the vendor

Free version

Not available

Order Time is a cloud inventory and order management system that offers a free trial. You can use the tool to manage inventory at multiple warehouses for organization and distribution and track internal transfers of inventory between warehouses. Order Time’s collaboration features enable creating tasks and events for your team members managing the warehouse, tracking their schedule, and alerting them on missed or nearing deadlines. Besides, the tool allows you to generate sales orders and track their status in real time. You can set different pricing levels for products based on customer segments or promotions.

Free trial features*:

  • Cycle counting: Audit the inventory counts for single or multiple warehouses or deployment locations. The feature provides a list of all products at the specific location and date.

  • Units of measure: Set multiple units of measure to purchase and sell inventory products. For example, a business purchased products from the vendor in a box with 12 items and sold one item each to the customers. 

  • Multiple product variations: Define a base product with core information such as name, description, ID, and images. Within the basic details, create variations for each unique product (size, color, or material).

Cost to upgrade: $50 per user per month

Billing cycle: Monthly

Customer support options: Phone, email, and knowledge base

Order Time Inventory

Order Time Inventory

4.84 out of 5 stars

57 reviews

4. Sortly

Free trial period

14 days

Free version

Available

Sortly inventory management software offers a free trial and a free plan. You can use the software on your smartphone, tablet, or computer to manage the inventory. This includes tracing inventory items, adding new items using the in-app barcode or QR code scanner, uploading photos, and accessing activity history. The tool’s cloud-based access ensures that data in all the devices is in sync for any latest inventory changes. It also offers offline mobile access to use Sortly in the field and sync later with access to a stable internet connection.

Free trial features*:

  • Label generator: Generate QR codes and barcodes with a unique identification code to add to the new inventory products or update existing ones based on their categorization.

  • Item check-in/check-out: Scan the product labels using the mobile device or an external device. This will check in or check out the scanned products from the inventory as they change locations or are out of stock. 

  • Maintenance and repair schedules: Track and schedule maintenance and repair services for equipment and assets. The feature sends in-app and email notifications to the inventory administrators.

Free features*:

  • Custom fields: Create new fields to add item details, such as manufacturer codes or serial numbers that are not included in the existing form. 

  • Activity history: View the changes made to the inventory system (folders, tags, item lists, and reports) with time stamps and names. 

  • Inventory summary: Generate reports to get an overview of the total inventory, valuation, available stock, low stock, and other tracking information.

Cost to upgrade: $29 per month

Billing cycle: Annual

Customer support options: Chat, knowledge base, and online ticketing system

Sortly

Sortly

4.55 out of 5 stars

483 reviews

Pro tip

Opt for a tool with features to automate inventory management tasks, such as counting, evaluation, and purchase orders. This saves time and prevents errors of manual counting and data entry.

5. Square for Retail

Free trial period

30 days

Free version

Available

Square for Retail offers inventory management features in its free and free trial plans. You can use the tool to automatically update inventory levels as you make the sales via point of sale. The tool enables manually adjusting the stock levels for damaged items, shrinkage, or internal use. You can also transfer stock levels between locations to maintain optimal inventory distribution across the stores. With the tool’s purchase order feature, you can generate automated orders based on predefined stock alerts. Additionally, its reporting feature allows analyzing daily sales data to identify best-selling and slow-selling items. This data can help optimize the inventory by focusing on high-demand items and reducing the costs of inventory.

Free trial features*:

  • Smart stock forecast: Analyze the historical sales data to identify trends and seasonality in the inventory movement. Use this analysis to forecast demand for each product and maintain optimal inventory.

  • Vendor management: Add, edit, and update vendor profiles to the system with names, contact information, and payment terms. The feature enables maintaining a central location for all vendor details for quick searches.

  • Bulk inventory intake: Scan one barcode and adjust the item count that is to be included in the inventory. The feature allows updating the stock levels at once.

Free features*:

  • Automated item creation: Search or scan the Global Trade Item Number (GTIN) to add items to the catalog automatically. The feature enables importing the existing catalog in bulk.

  • Edit product options: Update the size, color, type, and other item attributes after it is added to the product catalog. 

  • Photo studio: Use the smartphone camera to take product photos. Apply background removal, choose preset backgrounds or custom colors, and add realistic shadows to make products stand out. 

Cost to upgrade: $89 per location per month

Billing cycle: Monthly

Customer support options: Phone, chat, and help center

Square for Retail

Square for Retail

4.68 out of 5 stars

476 reviews

6. Veeqo

Free trial period

Not available

Free version

Available

Veeqo inventory management solution is available for free. It automatically manages your inventory across multiple online sales channels (Amazon, eBay, Shopify, and Walmart). This enables you to stay updated on what you have in stock, what you’ve sold on which marketplace, what could be sold more, and what’s not selling. The tool can also automatically allocate orders to a specific location based on the sales channel the order is placed from and your inventory counts at all locations.

Free features*:

  • Real-time bundling: Create product bundles during order fulfillment. The feature allows selecting individual components while processing the order and grouping them into a bundle for the customer.

  • Pricing updates: Change or add the product price for products on all linked channels instead of manually adding them one by one at a time.

  • Inventory rules: Set buffer stock levels to avoid accidentally selling out of stock. The tool will only display the available inventory after accounting for the buffer. The feature also enables motivating online sales by displaying lower stock levels than actual.

Cost to upgrade: Free

Billing cycle: N/A

Customer support options: FAQs, knowledge base, help center, and email

Veeqo

Veeqo

4.22 out of 5 stars

81 reviews

Pro tip

Check for the reporting capabilities of software, such as custom reports with metrics specific to your current inventory management requirements. This enables you to track detailed KPI of inventory instead of a complete overview, which can be confusing.

7. Zoho Inventory

Free trial period

14 days

Free version

Available

Zoho’s inventory management software tool is available for free and free trial. You can use the tool to create a detailed product catalog by adding individual items. This includes product SKUs, descriptions, variants, unit costs, and purchase prices. The tool enables you to organize your catalog products in a logical order using groups to categorize similar items based on variants or price. You can also decide on a stock tracking method (physical or transactional) based on your workflow. Physical tracking includes counting the items to determine stock at hand and transactional tracking analyzes the purchases, sales, and adjustments to update stock levels. You can reconcile the stock tracking data with the existing Zoho inventory data to identify and address any discrepancies.

Free trial features*:

  • Customer portal: Allow customers to place online orders and make payments. This data is synced with the inventory management system to update the stock levels in real time. 

  • Custom reports: Create reports tailored to specific needs and data analysis. The feature allows selecting from tabular, summarized, or graphical reports to present the data. 

  • Embed reports in websites/applications: Add reports on internal dashboards or team pages within the website or application to keep the team members informed about inventory levels, sales trends, and other inventory movement data.

Free features*:

  • Reorder levels: Take suggestions from the tool for the reorder levels of stocks based on the historical sales data and lead time. These suggestions consider the average daily usage and prevent stock outs during high demands. 

  • Multilingual invoicing: Design invoice templates in the preferred language for multilingual vendors (French, Spanish, or German). The feature enables customizing these invoices with the company logo, contact information, and other standard invoice elements. 

  • Multicurrency: Purchase, sell, or manage warehouse items in the local or preferred currency. Track the inventory costs accurately by recording different currency prices and then converting them into the business’s preferred unit.

Cost to upgrade: $29 per month

Billing cycle: Annual

Customer support options: Chat, phone, email, forum, FAQs, and knowledge base

Zoho Inventory

Zoho Inventory

4.46 out of 5 stars

388 reviews

What is the cost to upgrade from free inventory management software to paid software?

Inventory management software upgrades can be as low as $4 per month or up to $420+ per month, depending on various factors—number of users, deployment model, business size, integration capabilities, customization options, and more. Most inventory management software solutions typically include the following subscription plans:

  • Free trials: Range from 14 to 30 days and give users temporary access to either complete or limited software features. These no-cost trial plans are ideal for businesses that wish to try out a tool before purchasing it. 

  • Free versions: Offer perpetual access to limited software features. These free plans are ideal for small businesses or individuals on a budget.

  • Entry-level plans: Start at $4 per month and offer access to standard features. They are recommended for small businesses or teams with basic feature requirements, such as inventory tracking and stock control. 

  • Mid-tier plans: Range from $11 to $240 per month and offer advanced features such as a barcode scanner or generator, multilocation management, and custom reports. They are suitable for businesses that have outgrown basic inventory management solutions but don’t require the full range of functionality offered by enterprise-level tools.

  • High-end plans: Cost over $420 per month and offer a range of advanced capabilities, including unlimited access to entry-level and mid-tier features, priority customer support, and advanced reporting. They are suitable for large businesses with multiple inventory management teams that need a customized solution to manage high volumes of stock levels.

Hidden costs associated with inventory management software

Besides the software license, additional costs may include:

  • Implementation costs: Setting up the system, configuring it, and customizing features to fit specific business requirements may require additional resources.

  • Data migration costs: Transferring existing data from various sources, such as spreadsheets and databases, into a new inventory management software system can be complex and may require specialized services.

  • Training costs: Complex inventory software with extensive features requires dedicated training resources, including on-site training and e-learning modules, which might come at an extra cost.

Frequently asked questions when selecting free inventory management software

Here are some questions to ask inventory software providers when finding a tool for your small business.

  • What essential inventory management software features are included?

All free or free trial software plans may not be the same in their offerings to manage your inventory. Some might differ in features while others may restrict their feature usage for free. You must look for inventory management features that are aligned with your business needs. Some common features to look for include inventory tracking, reporting and analysis, purchase orders, and other warehouse operation capabilities. 

  • Does the free software allow integration with other business tools?

Free or free trial plans prioritize offering core inventory management features, such as product tracking and stock control. Integrations are often seen as an add-on or restricted to a certain count or type of tools integrated. Check with the vendor about integrating the tools your business already uses or requires in the future. 

  • Does the software restrict the number of users or inventories in the free plan?

As mentioned earlier, free or free trial plans often come with limitations. This includes restricting the number of users or inventories added to the system. Most free plans allow access to one to five users and a single inventory. However, in some cases, the free trial plan may allow adding multiple inventories to the system for a limited period of time.


Methodology

To be considered for this list, products had to:

  • Have at least 20 unique product reviews published on Software Advice within the past two years, with an average rating of 4.0 or higher (as of June 19, 2024). We selected the seven products with the highest ratings to feature in this article.

  • Offer either a free stand-alone version of the software or a free trial that needs to be purchased after the trial period. 

  • Meet our definition of inventory management software: “Inventory management software monitors inventory levels and facilitates optimal production of goods, helps businesses streamline inventory creation, and manages order fulfillment operations.”

*Our research team identified these free features from vendor websites (as of June 19, 2024) based on their analysis of what users find valuable in or expect from inventory management software. This list is not exhaustive. For additional free features, refer to the vendor's website.

Products evaluated for the pricing calculation were taken from Software Advice’s inventory management software directory. The pricing ranges exclude freemium versions of the products. The features highlighted were identified based on their relevance and the percentage of products in the Software Advice directory that offer them. Only products with publicly available pricing information, as of June 19, 2024, were considered for pricing calculation.

Product research for this article was contributed by Rakshat Chhokar.

Editorial independence: We select and rank products based on an objective methodology developed by our research team. While some vendors may pay us when they receive web traffic or leads, this has no influence on our methodology.