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Zoho Inventory
Zoho Inventory
Zoho Inventory is a cloud-based inventory management solution designed for small to midsize businesses. It features inventory management modules including reporting and analysis, vendor managed inventory and lot traceability. It f...Read more about Zoho Inventory
UpKeep
UpKeep
UpKeep is an Asset Operations Management solution that helps businesses scale by giving every Maintenance and Reliability team the tools and information they need to run Operations efficiently and effectively. From your desktop to...Read more about UpKeep
StockTrim
StockTrim
StockTrim is a cloud-based solution designed to help small to midsize businesses in eCommerce, retail, manufacturing, wholesale, and distribution manage demand forecasting and inventory planning operations. It includes a machine l...Read more about StockTrim
EZOfficeInventory
EZOfficeInventory
EZOfficeInventory is a dynamic asset and maintenance management solution tailored for companies of all sizes. The cloud-based software works as you do and is accessible from anywhere and at any time. Track items across locati...Read more about EZOfficeInventory
SCP 4.0
SCP 4.0
Jada vendor management inventory and demand planning system is suitable for businesses looking to manage inventory holding costs and track service levels. SCP is offered as a best of breed application that is ideal for both midsiz...Read more about SCP 4.0
Fishbowl
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 about Fishbowl
SIMMS Inventory Management
SIMMS Inventory Management
SIMMS by KCSI is a comprehensive inventory and supply chain management (SCM) system that helps businesses organize and control various aspects of their inventory. With features like serial number tracking, lot control, kitting and...Read more about SIMMS Inventory Management
Acctivate Inventory Management
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 QuickBo...Read more about Acctivate Inventory Management
inFlow Inventory
inFlow Inventory
Looking for an inventory and order management system for your small or medium-sized business? inFlow is used in over 90 countries around the world for manufacturing, wholesale, distribution, ecommerce, and more. It's also simple t...Read more about inFlow Inventory
Stitch Labs
Stitch Labs
Stitch Labs is an integrated, cloud-based inventory and order management solution that caters to mid-size multi-channel retail brands. Stitch serves as an operational hub to brand operations, centralizing inventory across al...Read more about Stitch Labs
Unleashed
Unleashed
Unleashed Software is a cloud app that gives product businesses the freedom to better make, manage and move products by giving complete clarity and control over suppliers, production, warehouses and sales. Unleashed allows busines...Read more about Unleashed
Solid Commerce
Solid Commerce
Solid Commerce is a cloud-based inventory management solution that caters to businesses of all sizes across various industries such as computer software, apparel and fashion, consumer goods, business supplies, retail, and more. Ke...Read more about Solid Commerce
Megaventory
Megaventory
Megaventory is a cloud-based order and inventory management solution aimed at medium-sized businesses. Its features include order fulfillment, manufacturing management, invoicing and reporting. Megaventory offers comprehensive cus...Read more about Megaventory
QuickBooks eCommerce
QuickBooks eCommerce
QuickBooks Commerce is a powerful cloud-based inventory and order management software for modern online businesses. Seamless integration across all major e-commerce platforms ensures that product listings, orders, and data stay up...Read more about QuickBooks eCommerce
Sellbrite
Sellbrite
Sellbrite is a cloud-based inventory management solution designed for small and midsize companies. It offers order management, product management, channel analytics and inventory control functionalities within a suite. Sellbr...Read more about Sellbrite
Veeqo
Veeqo
Free shipping software that does more than print labels. Cut the cost and speed of fulfilling orders with low shipping rates, automation and powerful fulfillment tools with Veeqo’s FREE shipping management software....Read more about Veeqo
InventoryCloud
InventoryCloud
InventoryCloud allows users to easily transition from error-prone manual processes and antiquated systems to a modern, feature-rich inventory management platform. Enjoy quick and accurate physical inventory cycle counts, eliminate...Read more about InventoryCloud
eTurns
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 about eTurns
HandiFox
HandiFox
HandiFox is an inventory tracking and sales management system designed for small to midsize inventory-centric businesses in a variety of industries, such as retail, wholesale/distribution and manufacturing. The app is availab...Read more about HandiFox
Cin7 Core
Cin7 Core
Cin7 Core, formally known as DEAR, is an app that makes enterprise-level inventory management, manufacturing, sales integration, reporting, and automation accessible to all businesses. Leverage the power of multi-module inventory...Read more about Cin7 Core
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Buyers Guide
Last Updated: March 16, 2023Inventory control is a complex process with multiple moving parts, quite literally. Any business that deals in physical products needs to maintain its inventory, whether that means transporting or selling products, or assembling them into a different product. In each case, it's essential to always have the right amount of necessary goods on hand.
Selecting the right inventory control software to help you with this process can make your job a lot easier, but choosing that software can be a challenge. The subtle differences between "inventory control" and "inventory management" can also be confusing.
This article will help guide you through this process, so you can choose the inventory control system that best fits your business needs.
Here's what we'll cover:
What Is Inventory Control Software?
Inventory Control Software vs. Inventory Management Software
Common Features of Inventory Control Systems
What Is Inventory Control Software?
Inventory control (sometimes also called "stock control," a term used synonymously) means monitoring a company's inventory of products to ensure that slow-selling or little-used items are not overstocked. This way, the business can save money, time and warehouse space by not acquiring products or materials that are unnecessary. The ultimate goal of inventory control is to create maximum profit from the least investment in inventory, without negatively impacting customer satisfaction.
Inventory control systems can automate the monitoring and tracking of your products via their inventory codes, eliminating the need for time-consuming pen and paper logs or Excel spreadsheets. The software relies upon tracking items via barcodes (which you can create and customize) as products move in and out of your warehouse. It can provide automated alerts and reports as those items are checked in or out by various parties.
Inventory Control Software vs. Inventory Management Software
Whereas inventory control is the process of ensuring that you have the ideal amount of stock, inventory management is focused on most efficiently organizing and managing stock, so that reorders happen at the exact right moment.
According to major inventory control and inventory management vendor Fishbowl Inventory, the difference can be stated as follows:
Inventory control: "Focuses on cutting the number of slow-selling products a company purchases. This saves businesses time and money because they don't have to spend lots of man-hours reordering and receiving goods that they don't really need."
Inventory management: "Focuses on quickly and efficiently reordering products...Stocking up on products primarily because they can be obtained at a cheaper price will most likely lead to more products spoiling and becoming obsolete, as well as creating an inefficient use of storage space."
The two processes clearly complement one another, and thus many vendors will offer both inventory control and inventory management features, either in a shared package or divided up into separate offerings that can be integrated together.
The "materials module" found in Fishbowl Inventory's software
This buyer's guide will focus on the features that are specifically a part of inventory control systems, but we recommend you also check out our inventory management software buyer's guide.
Common Features of Inventory Control Systems
The most typical inventory control system features are explained in the following table:
Inventory tracking | Enables you to track your entire inventory. This feature allows you to track your products by site, location, serial number, lot, date and/or pallet. |
Barcoding | Create an inventory system that fits your needs, with flexibility in creating your own inventory and shipping labels. |
Check-in/out | Track items as they move through the warehouse to employees, vendors or customers, preventing them from getting lost along the way. |
Automated alerts | Receive automated notifications about low inventory levels, expiring items, overstocked items and reorder points to help you better keep track of inventory levels. |
Audits/reports | Run periodic audits of your inventory and generate reports so you can track your stock and recognize problems before they develop. |
What Type of Buyer Are You?
When considering inventory control software, you should take the following factors about your organization into account:
Industry. Your inventory control needs will vary greatly depending upon the type of industry you're buying for. Retailers will have very different needs from manufacturers, who will in turn have very different needs from distributors. Specific inventory control systems address the unique needs of different industries and may even have functionality that is directly suited to specialty niches within larger industries.
Company size. You should consider whether your company is a small business with one location; a midsize business with multiple locations within a relatively small geographical area or a large, enterprise-level business, with multiple lots located across a wide area. You will need an inventory control system that fits the needs of your particular business segment and the levels of complexity that come with any increases in size.
Be wary of overpaying for robust systems that have more capabilities than you need, but also be sure not to underestimate your needs.
Software needs. Consider carefully whether you are just looking for inventory control, or if you have greater automation, tracking and reporting needs. You may be looking to combine inventory control with inventory management, for example, or you may need an inventory control system that is part of a larger suite that includes other essential features such as supply chain management, warehouse management and/or business intelligence.
Benefits and Potential Issues of Inventory Control Systems
The obvious benefit of inventory control software is that it allows you to automate the process of tracking your company's inventory. It helps you figure out how much of a certain product you need to have in stock, without overages that mean you're stocking extra product with no attendant extra profit. Automation lets you take control of your inventory in a way that would prove exceedingly complex and complicated using spreadsheets or pen and paper.
Through inventory control, you can keep the right amount of raw materials and finished goods on hand and automatically place reorders at the right moment to maximize profit while minimizing stock overage.
However, because inventory control systems rely heavily upon barcode scanning, it does come with certain hardware requirements. Many vendors have mobile apps that can scan barcodes via smartphones or other mobile devices, while others may provide the necessary scanning hardware, potentially at an additional cost.
Market Trends to Understand
Here are some market trends you should consider as you select a product:
Mobile functionality. Largely provided by apps for phones and tablets, mobile functionality is a significant technological shift across most industries, and inventory control software is no different. In these contexts, apps connected to the inventory database can enable employees to scan barcodes throughout the warehouse without having to refer to a desktop computer.
Cloud-based software. Cloud-based systems, which are increasingly popular, require less hardware than on-premises software. They also require less IT knowledge (ideal for small businesses without an IT department), have lower upfront costs and are more quickly implemented, making them a good choice for smaller businesses in particular.