Starting a business is hard, stressful, and takes time in this competitive market. Managing inventory well and meeting customer standards are two more tasks that can wear down the management to tiredness. Organizations hope to create cutting-edge inventory management software to help them cut costs while avoiding overproduction, overbooking, and waste. Proper inventory control management is necessary for any business that wants to succeed. Given the variety of inventory management software choices offered today, it There may be better moves for the business. To aid in choosing the best inventory management software, a number of factors come together. This buyer’s guide will help you determine the needs of your company and assist you in selecting the right software.
What is inventory management’s definition?
Best inventory management, in business words, is the process of managing and directing your company’s entire inventory, from the time of buying through manufacturing, storage, and sales. Your items’ movement in and out will be managed by it. In other words, inventory management allows you to always have the right amount of stock in the right places.
What is Inventory Management Software and How Does It Work?
You can keep track of items and inventory amounts throughout your company’s supply chain with inventory management software. Think of it as a system that keeps track of the complete trip your items have taken. The software takes care of everything, from shipping orders to your provider to sending them to your customers.
What factors should you consider while selecting an inventory management system?
You need to pick the right one to get the most out of the Best inventory management software. And for this, it’s very important to know what qualities the best answer has. One of the best inventory management solutions will help you keep track of all of your items, from raw materials to finished goods. To better serve customers, it also has tools for predicting how much inventory will be needed. Successful inventory software has barcode reading built in to stop people from making mistakes when entering data and to make things run more smoothly. It also sends you real-time alerts and tips to ensure you have enough stock and have enough of it. Is that the end? Not in the least. Suppose the software can be expanded and works well with other systems, like financial software, that is the most important thing to consider.
Top 8 Best Inventory Management Software In 2023
To help you start your search for a system like this for your business, here is a checklist of the best inventory management software.
1. Zoho Inventory
Smart and Best inventory management software is the only way for a business to grow in many ways. Zoho Inventory is one of the Best Inventory Management Software for Businesses, allowing them to manage inventory, buy orders, sales orders, and shipping more effectively. Our GST-ready inventory management software saves the business GSTIN and fills it in automatically whenever a purchase, sale, invoice, or payment occurs. Zoho Inventory is an AI-powered inventory management system with many features that can be changed to fit any company’s needs. It can assemble items into kits.
The management of sales on online stores like Amazon, eBay, Etsy, and Shopify is also aided by integrating Zoho Inventory. This combined order management system allows The sales staff to handle in-person and online orders correctly. You can follow each item’s journey from the warehouse to the sales point with Zoho Inventory’s end-to-end tracking system. Zoho Inventory gives customers real-time shipping prices and details about items in progress, another useful function. This inventory company inventory software offers a free sample to new clients, allowing you to evaluate the most important features. Zoho Inventory saves time by creating bills and allowing the team to manage the business effectively. Zoho Inventory can be subscribed to on a monthly or yearly basis. Before purchasing, customers may sign up for a free sample plan to test the features.
“Initial Cost: $49.00 per month per user (Basic-$49, Standard-$99, Pro-$249)
2. inFlow Inventory
InFlow is the best inventory management software for businesses that deal in physical goods. It lets them keep track of items, manage orders, make bills, put together records, and do other business-related tasks. It has just the right amount of help services and a simple, easy-to-use interface. Large, medium, and small businesses worldwide depend on inFlow to give their offices a big picture by looking at data and making smart decisions. Product listings are hosted, stock travel times are tracked, and inventory is organized using barcodes made by DYMO printers. The software is effective and concerned with inventory. Additionally, numbers aid in product recognition and order distribution.
A B2B gateway allows you to make sales, buy, and reorder things. It gives you material billing, bills, other records, safe online payment options, and on-time order pickup, shipping, and delivery. You can stay on top of your game by using inFlow’s flexible interoperability with systems like Windows, iOS, and Android, allowing you to see everything you need to know with just one click.
Integrations between apps like Shopify, Amazon, QuickBooks, and Zapier make it easy to automate, sell things online, and budget. InFlow offers one-on-one online training demos and expert help at every step. All of this is covered by 256-bit SSL security and backups worldwide.
Price: $71.00 per month (nFlow Cloud Light is $71.00 per month with two yearly team users).
3. Sellbrite
Sellbrite has some of the best inventory management software for small businesses. It has advanced features that are easy to use and keep you from having too much stock. Thanks to its multichannel inventory control feature, businesses can track inventory, manage order handling between multiple warehouses, and keep full control of their warehouses. This inventory and order management software is one of a kind. It comes with great customer service and a 14-day free time that lets users see how useful it is to connect to Sellbrite.
Monthly Rates Begin at $19.00
4. TradeGecko
Because it is easy to use and has great features, TradeGecko is one of the best business inventory software. This flexible inventory management software was designed to assist fast-growing e-commerce and online businesses in succeeding. TradeGecko is inventory management software that runs in the cloud and is perfect for small and medium-sized businesses that want to succeed but need more resources. TradeGecko is a blessing because it’s inventory software for small businesses. Its only goal is to help you work better, grow faster, and increase sales. This is the best inventory management software on the market, and it will make your business run more smoothly whether you’re a store, dealer, or distributor.
TradeGecko keeps track of stock levels and instantly updates supplies across multiple warehouses on how their inventory is managed. The inventory optimization tool makes things easier for businesses inside the company and helps them decide how to stock their shelves best. You may use TradeGecko to manage multiple currencies, accept and fulfill orders, synchronize orders with inventory, and view sales data. A balance between B2B, B2C, and trade deals is maintained by TradeGecko, which also acts as a single point for inventory management. For your business to run easily, this inventory software does many things, such as sending out sales emails, making sales orders, figuring out shipping costs, and more.
Monthly rates start at $39.00 (Monthly and yearly subscriptions are available; prices are in USD).
5. Katana
Any company that makes things and wants full management and insight should use Katana Manufacturing ERP software. It is known for its well-balanced set of features that go beyond your inventory and sales tasks. A live inventory management tool in the system lets you see your business at any time in real-time. While keeping everything in one place—scheduling, resources, and production—you may use its features to optimize goods and raw materials. Because you don’t have to switch between tools, it saves you time and money.
Katana software’s bidirectional order management features make it easier to handle both online and business-to-business sales orders. You can also keep track of materials, batches, expiration dates, and a lot more. This makes the whole process more efficient and lowers the risk of mistakes. Everyone on your team will be able to get used to the platform quickly because it is designed with a simple, easy-to-use interface.
With smart buy order management, you can cut down on one of the most common problems in businesses: running out of stock or having too much of it. The system lets you use more than one currency for simple value readings of buy orders. Another great thing about this software is that it works well with most popular banking, e-commerce, CRM, and reports programs. You may use the tool for free for 14 days to see how it works for you.
“Monthly Rates Begin at $99.00
6. Stitch Labs
Using old-fashioned inventory management software might have a few more up-to-date features and may limit your access. It’s time to get the latest and greatest inventory software from Stitch Labs. It’s powerful and works with everything else. Inventory is a necessity for every business. With its advanced and fully combined features, a multichannel inventory system like Stitch Labs is a lifesaver and a business disease manager. Some of the problems that inventory has are over-purchasing, insufficient inventory, late deliveries, handling several warehouses, inventory tracking, and cost management. Innovative inventory and order management software from Stitch Labs helps businesses keep track of their sales, purchases, and orders by centralizing their stock.
Stitch Labs is a cloud-based inventory management software that gives retailers full retail information, such as past stock, financial location, and sales pace, to aid in planning. This multichannel platform also manages sales channels, moves inventory, and keeps track of items in motion and where they are coming in. Purchase order management, cost sharing, low stock alerts, packing, and stocktakes are all things that Stitch Labs can do. A company may better understand its inventory and accurate data for making predictions and smart business decisions if it buys this software.
“Monthly Rates Begin at $799.00
7. Lightspeed POS
Lightspeed POS is an inventory management software platform for keeping track of your customers. A POS system lets you get a customer’s biography, buy history, and groups. Lightspeed also helps with unique orders, layaways, project management, meeting customer needs, and ensuring timely deliveries. Thanks to a one-on-one boarding method, Lightspeed offers help 24 hours a day, seven days a week, through workshops, videos, and a free test. Whether selling a bike, clothes, tech, or other leisure goods, Lightspeed POS lets you manage inventory and sales while on the go. This simple inventory management software gives you access to inventory management tools that will help you improve your business and make your work run better.
Monthly Fee: $69.00 (billed annually)Prices may change based on the package selected.
8. Orderhive
The best inventory management software is Orderhive, which is cloud-based and takes care of shipping, handling orders, and moving goods. This platform that does everything is the answer to all of your questions about how to make better business choices. Orderhive is cutting-edge software that streamlines buy management, automates e-commerce, and syncs inventory in real-time. It also provides quick analysis reports. Orderhive lets users try it out for free for 15 days to see what it can do for them and how it can help their business grow.
With this inventory control software, you don’t have to guess about what’s in stock because it keeps track of the flow of products correctly. Orderhive is great software that lowers costs, simplifies boring jobs, and makes sure that inventory is in sync across all sales platforms, warehouses, and delivery centers. You can reduce the risk of overselling and underselling with Orderhive’s features, which include easy product management, catalog management, and inventory visibility. You can also make real-time inventory reports, manage purchase history, stock count forms, price adjustments, reorder back-ordered products, COGS management, and inventory audit reports. When making business choices, Orderhive’s simple-to-use inventory software has a significant effect. Users can test the platform for free for 15 days to see how it works and if it can help them grow their business.
Starting Price: $0.01 per month (a savings of 55%!Subscriptions can now be purchased for $44.99 per month*.)