It is difficult, laborious, and time-consuming to launch a business in this cutthroat industry. The additional responsibilities of managing inventory and meeting customer expectations can severely tax management. Organizations anticipate assisting in the development of cutting-edge software that accurately manages inventories, eliminates overproduction, overbooking, and waste, and lowers costs.

For a business to succeed, effective inventory management is crucial. It can be a mistaken duty for the business with so many inventory management programs emerging today. You may choose the best inventory management software by combining several factors. You may determine your company's needs and select the best Inventory Management Tool with the aid of this buyer's guide.

So, let's discuss some of the best options out there in this top tools list.

1. inFlow

InFlow is an inventory management system created for item-based businesses to monitor goods, manage orders, produce invoices, collect reports, and handle other trade and transaction procedures. It strikes the ideal mix between a straightforward, intuitive UI and omnipresent support services.

Companies of all kinds, big, medium, and small, rely on inFlow to use data analysis to paint the big picture for their offices so that educated decisions can be made. The software organizes the inventory using barcodes made by DYMO printers, hosts product lists and maintains the transit status of supplies. Additionally, these barcodes help in order distribution and product identification.

Key Features:

• B2B portals are used for managing sales, purchases, and reorders.

• offers order procurement, shipment, and delivery on time, secure online payment portals, invoicing of supplies, invoices, and other receipts.

• You can maintain your competitive edge thanks to flexible interoperability with user platforms including Windows, iOS, and Android.

Cost: inFlow Cloud Light costs $71 per month with two team members paying yearly.

2. Zoho

Only by incorporating sophisticated inventory management software is business expansion across various channels conceivable. One of the best inventory management tools available, Zoho Inventory streamlines corporate processes and gives users the ability to efficiently manage inventory, purchase orders, sales orders, and shipments. This GST-ready inventory management program stores the business GSTIN and populates it automatically whenever a purchase, a sale, an invoice, or a billing occurs.

Key Features:

• A feature-rich, AI-powered inventory management system with item-kitting capabilities that can be tailored to each business.

• assists with sales management on digital marketing platforms like Shopify, eBay, Etsy, and Amazon.

• With this integrated order management system, the sales force can now manage physical and online orders effectively.

Cost: $49.00 per month per user (Basic: $49.00; Standard: $99; Pro: $249).

3. Sellbrite

One of the main problems in the selling industry is overselling, which can be solved by effective inventory management software like Sellbrite. Sellbrite is one of the best company inventory software programs since it gives you total control over your inventory and prevents overselling of goods. This intuitive software aids the company in creating a balance between stock, sales, and purchase orders and provides enterprise-level inventory management functionality.

Sellbrite provides centralized inventory management using a single, user-friendly interface, regardless of the number of items the company sells (from hundreds to thousands). Users may quickly examine and manage reserved, on-hand stock levels, and available products thanks to the program. Through its automatic inventory adjustment features, Sellbrite enables the company to manage its FBA amounts across all other channels.

Key Features:

• one of the best inventory management systems for small businesses that offer intuitive advanced features to prevent overstocking.

• The organization can track inventory with the use of a multi-channel inventory control feature, which also automates order routing between several warehouses and offers total warehouse control.

• A distinctive platform with excellent customer service is order management software.

Cost: $19 per month

4. TradeGecko

TradeGecko is among the top business inventory software, with a simple user interface and remarkable capabilities. High-growth multichannel and eCommerce brands are supported by this robust, multipurpose inventory management tool. For small to medium-sized firms with limited resources but aspirations of thriving in the commercial sphere, TradeGecko is cloud-based inventory management software.

Key Features:

• Inventory management across several warehouses; automatically updates inventories and monitors stock levels.

• The inventory optimization tool improves internal processes and directs the company's stocking strategy.

• allows you to receive and fulfil orders, synchronise orders with inventory, manage numerous currencies, transfer stock across warehouses, and access sales reports.

• maintains a balance between B2B, B2C, and the marketplace by serving as a single point for inventory management.

Cost: $39 per month

5. stichLabs

With its built-in sophisticated capabilities, a multi-channel inventory system like Stitch Labs not only prevents many business epidemics but also effectively manages them. The firm frequently encounters issues including excessive purchasing, low inventories, delayed delivery, managing various warehouses, inventory accounting, and cost control. One of the most cutting-edge inventory and order management systems, Stitch Labs helps businesses by centralising inventory and managing sales, purchases, and orders.

Key Features:

• to view historical stock, financial location, and sales velocity for future assessment, complete retail data is provided.

• updates to sales channels, transfers of inventory, and tracking of units' positions while they are in transit.

• includes stocktakes, bundling, low stock warnings, purchase order management, and cost allocation.

Cost: $799 per month

6. Lightspeed POS

A technological gift for any expanding organisation is all-in-one inventory management software. The only retail POS that supports efficient operations, stock optimization, and sales management is Lightspeed. Thanks to its intuitive layout and sophisticated features, Lightspeed has increased in size more than four times since its start. This outstanding retail management software is referred to as clever, scalable technology that raises the bar for the company. The programme makes it easier to transfer merchandise, sell through any device, thrive, and access points of commerce.

Key Features:

• With POS software, you may access customer profiles, purchase histories, and category information.

• extra assistance in meeting customer demand, completing special orders, layaways, managing work orders, and ensuring timely delivery.

• offers 24/7 help via webinars, videos, and a totally free demo using a one-on-one boarding method.

Cost: $69 per month

7. SkuVault

The eCommerce inventory management system from SkuVault makes managing your online store a breeze. It includes hassle-free workflows in a user-friendly platform that anybody on your team can utilise, regardless of technical proficiency.

The solution is made to speed up your order fulfilment procedures, from inventory management to warehouse organisation. The pick-to-ship cycle becomes more effective as a result, processing orders promptly each and every time. Your company operations will become more efficient as a result of the system's ability to connect your various sales channels.

Key Features:

• ability to remove common errors brought on by human entries, improper shipments, and shipping faults.

• You can keep the desired marketplace quantity levels with the aid of its Quantity Buffers.

• You can accurately forecast your inventory using the system's smart analytics and reporting functionalities, which will increase your sales.

• with its data-driven insights, making growth a constant plan, will help enhance the quality of your business decisions.

Cost: $299 per month for 2 users.

8. Katana

Every manufacturing company that wants strong control and complete visibility should choose Katana Manufacturing ERP software, which is renowned for its well-balanced collection of features spanning beyond your sales and inventory operations. The system includes a live inventory management feature so you can always see how your business is doing in real-time.

Key Features:

• manage scheduling, resources, manufacturing, and goods and raw materials all in one location. As a result, you can save time and money by not having to move between different tools.

• As a result, your overall productivity increases while risks and process errors are reduced. You may track materials, expiry dates, batches, and much more.

• thanks to its omnichannel order management features, also streamlines your B2B and e-commerce sales orders.

Cost: $99 per month

9. Orderhive

Orderhive is inventory management software that runs in the cloud and handles everything from order fulfilment to handling goods mobility. All questions concerning how to make better business decisions can be answered by this single platform solution. Modern technology like Orderhive works with real-time inventory synchronisation, automated online shopping, streamlined buy management, and provides speedy analytical reporting.

Key Features:

• reduces guessing and precisely tracks product flow to keep inventory levels under optimal control.

• costs are reduced, the human process is automated, and the entire inventory is synchronised throughout sales channels, warehouses, and distribution hubs.

• Reduce risk of overselling and underselling by streamlining product management, catalogue management, and inventory visibility; provide real-time inventory reports; handle purchase history, stock count form, price adjustment, stock adjustment, etc.

Cost: $44.99 per month

10. SOS Inventory

SOS inventory is the perfect addition to your company if you use QuickBooks Online. SOS Inventory allows you to track all of your products from the comfort of your home and offers you complete access to your inventory for different locations. You have an advantage over competing software thanks to its backorder tracking, automatic order processing, and process manufacturing features. Assemblies can be made, tracked, and work-in-progress can be in various phases.

Key Features:

• here to create and monitor sales orders.

• may create the invoice and incorporate your shipping and packing procedures into Quickbooks.

• can even use the serial number of an object to monitor its history and present location.

• 24/7 email assistance and call help during business hours are available to answer any of your questions.

Cost: $44.95 per month per user

11. Megaventory

Megaventory is a cloud-based inventory management tool created specifically for medium-sized businesses, including franchising, retail, wholesale, or manufacturing firms. With the ability for numerous users, it enables you to manage sales and purchase orders, sales quotes, backorders, dropshipping, consignment, partials, refunds, inventory with serial numbers, and inventory with barcodes.

Key Features:

• focuses on providing inventory at several locations, monitoring the stock level, verifying supplier availability, and ensuring that merchandise is returned on time.

• complex user permissions.

• user strings that are modifiable and reporting.

• complete import and export of data.

• several currencies, currency rates, and price regulations.

• strong self-localization, customisation, and personalization features, as well as a robust API.

Cost: $150 per month

12. ShipMonk

By combining order, inventory, and warehouse administration into one simple, understandable interface, ShipMonk's patented software solution packs a powerful punch. Every component of ShipMonk's software was developed with expansion in mind, enabling small- to medium-sized eCommerce enterprises to successfully advance their operations with dependable, user-friendly technology.

Key Features:

• caters to subscription boxes and crowdfunding campaigns, so retailers may easily grow into new business endeavours without missing a stride.

• The ability for retailers to upload SKUs, monitor inventory levels, follow orders, estimate shipping costs, export critical data, etc.

Cost: Contact company.

13. eChannelhub

Through a single, centralised interface, the multichannel ecommerce platform eChannelHub streamlines and automates online listing and syncing of products, inventory, orders, processing, and shipping across all marketplaces, shopping carts, shipping services, and ERPs. We cover everything for you, including providing a listing tool for marketplaces, a real-time inventory sync tool, an order management system, and much more.

Key Features:

• allows merchants to focus more on selling by allowing them to spend less time updating, improving, and formatting product data.

• Management of retail inventories.

• Inventory Management.

• Management of suppliers.

Cost: Contact company.

14. Deskera Books

All you need for automated bookkeeping and inventory management is Deskera Books. You can automate your inventory management with Deskera Books, an easy-to-use accounting and inventory management tool that is cloud-based. Deskera Books, in contrast to other inventory management programmes on the market, combines inventory management and inventory accounting. As a result, as soon as you fulfil orders, your COGS are updated in real time.

Key Features:

• built-in conformity helps you easily and confidently produce accounting and tax reports.

• Every time you receive stock or complete an order from a vendor or customer, your stock levels and stock valuation are automatically updated.

• permits the creation of several fulfillments against bills and invoices.

• is equipped with sophisticated inventory capabilities like Pick, Pack & Ship, Dropship, Backorder, Warehouse Management, Stock Transfer, Stock Adjustment, and Inventory Reports.

Cost: Contact company.

15. Finale Inventory

For smarter, expanding organisations, Finale Inventory offers multichannel, cloud-based inventory management. The majority of the world's smallest and medium-sized enterprises rely on Finale Inventory, one of the top warehouse management programmes, for its essential features. Keeping in mind the value of centralization, multipurpose integration, and warehouse management, the programme is made to address all inventory needs.

Key Features:

• can handle restock forecasting, determine reordering points based on product sales velocity, avoid expensive stock-outs, and make wiser purchasing selections.

• coordinates warehouse and online sales channels specifically and aids in updating stock levels often.

• also has a complete out-of-the-box barcode inventory control system.

Cost: $99 per month

16. KORONA POS

Retailers may scale their operations efficiently and sustainably with the help of KORONA POS's robust reporting and inventory management features. More information about your price, promotions, unique items, ordering, and other topics is provided via its reporting and analytics. Once you have this knowledge, the inventory management system makes it possible for you to easily apply any modifications and automate subsequent procedures. combined with these attributes.

Key Features:

• is a priceless resource for companies of all sizes, from mom-and-pop stores with one location to global chains and franchises.

• gives complete tracking for each item in your database.

• You always have the correct products at the right time thanks to automated ordering, store orders, and order level optimization.

• You may keep an eye on this through remote access from any location.

Cost: $59 per month

17. Edgefinity IoT

The ideal combination of RFID software and a real-time database is Edgefinity IoT. With this programme, you may manage personnel, identify inventory, and track assets. You can handle enormous inventories and make sure that your staff are safe the best way possible. Asset tracking, inventory tracking, safety and security, and shipping-receiving are some of its primary functionalities. Consequently, it provides complete coverage for your product-based firm.

Key Features:

• allows it to track inventory in real-time and base decisions on it quickly.

• For all situations involving your archive, you receive immediate notifications and alerts.

• can also locate a specific asset or employee with pinpoint accuracy.

• The time when your employees logged in or out of the system is another thing you can check.

Cost: The enterprise licence costs $138 per month, and the Fusion licence costs $204 per month.

18. ecomdash

The primary goal of creating a sophisticated platform like ecomdash was to provide management enough time to concentrate on business growth and enhance supply chain visibility. This inventory management software syncs and quickly records product numbers, manages purchase orders, creates personalised notifications to notify of inventory levels, and facilitates multichannel product tracking. Product SKU mapping provided by ecomdash enables tracking of products using specific mapping identifiers.

Key Features:

• offers a free inventory guide on controlling multichannel sellers and product movements, and is supported by a support team.

• controls stock bundling; multipacks shipped to FBA track individual components, keeps track of itemised costs, generates work orders, and precisely syncs quantities between sales platforms.

• offers reasonable pricing policies and enables small businesses to grow.

Cost: $60 per month

19. ERPLY

Erply enables you to keep track of everything you sell and to manage orders, sales, and deliveries all in one location. It keeps items from going out of stock or being overstocked, ensuring that there is never a space shortage in your system. Additionally, Erply offers useful reports that include data on past sales, orders from clients and suppliers, stocks that require rapid replenishment, and even inventory migrating to a new location.

Key Features:

• helps you keep track of the state of your inventory at any given time.

• Additionally, it helps you manage them with sophisticated capabilities like receiving orders from multiple sources, connecting pertinent data to them, maintaining inventories across multiple warehouses, and automating the ordering process by connecting suppliers with the products.

Cost: $39 per month

20. EZOfficeInventory

One of the top cloud-based inventory management programmes in the world, EZOfficeInventory tracks stock and provides users with up-to-date inventory information. This comprehensive inventory management system integrates effortlessly with your company and offers top-notch services. Now, it's simple to keep an eye on your inventory, monitor incoming and outgoing product movements, manage and track purchase orders, lifecycle costs, create actionable reports checkouts, and scan bulk inventory quickly and easily with any device.

Key Features:

• enables the company use cloud-based flexible hacks to get around problems like stock-outs, faulty stock counts, lost equipment, and time-consuming labour.

• a very user-friendly, simple-to-setup tool that aids management in tracking the precise location of things and creating purchase orders appropriately.

Cost: $35 per month

21. Primeseller

With outstanding features and out-of-the-box customer services, Primaseller is among the greatest POS, inventory, and order management programmes. This platform has been especially created for contemporary merchants that are interested in incorporating a centralised, synchronised inventory system that is simple to incorporate into multi-channel enterprises that sell both offline and online. Primaseller is a cloud-based software for managing e-commerce orders in one location while maintaining a trustworthy and secure stock count.

Key Features:

• automates purchase orders to manage suppliers and the procurement process. It also creates and maintains client orders and unifies databases for all retail locations.

• offers illuminating information on sales across numerous platforms.

• Primaseller automatically changes inventory information throughout selling stores, wherever the product is listed, once the company gets orders via online channels.

Cost: $59 per month

22. NetSuite

Utilize an effective inventory and order management system, such as NetSuite, to manage and improve your worldwide supply chain. The producers who battled to locate the best product management and order management software are receiving this programme as a virtual present from the app developers. NetSuite has amazing functionality to handle product data management, planning and scheduling inventories, work order administration, etc. in addition to managing the supply chain.

Key Features:

• provides a variety of native tools and features to aid in managing safety stock, reorder points, cycle counts, demand planning, and product distribution planning. It also helps track inventory from numerous locations.

• provides special features for businesses that rely only on cutting-edge inventory management software.

• implements serial number-based detail inventory checking and complete traceability features.

Cost: Contact company.

23. DEAR Inventory

Utilize DEAR Inventory to handle all aspects of your business operations, including purchasing, manufacturing, accounting, B2B portals, and warehouse management, on a one platform. With a consolidated online platform, this incredibly feature-rich inventory control software automates, maintains, analyses, and evolves every part of your organisation.

Key Features:

• A seamless, simple, reasonably priced, and successfully active platform that enables businesses to manage their biggest assets and acquire current inventory knowledge.

• Upgrade to genuine cloud ERP software that is fast and affordable from your old ERP models.

• provides management access permissions for particular locations, supports drop-shipping, manages product families, moves stock between sites, etc.

Cost: $199 per month

24. EZRentOut

One of the greatest inventory and order management systems that makes it simple for small businesses to expand is the equipment rental programme EZRentOut. The time-saving features of this inventory software make it simple to manage a warehouse, product movement, invoices, sales, and purchase orders, as well as online businesses from any location. With EZRentOut, you can manage rental assets, clients, and bills from a single platform while also tagging and tracking construction tools, setting up maintenance calibration schedules, appointing asset custodians, and keeping track of orders.

Key Features:

• helps with advanced order scheduling and equipment reservations allowing customers to benefit from conflict-free bookings.

• assist online stores run more efficiently by tracking product location, movement, maintenance status, and rental availability. They may also be used to send helpful notifications to prevent stock-outs.

Cost: $49.98 per month

25. Multiorders

Connect your business system to Multiorders, a cutting-edge multi-channel inventory and order management system. Multiorders has gained popularity among several software review websites as well for its flawless workflow and advanced features. The programme provides a user-friendly, reasonably priced platform for inventory management. It controls orders, improves workflow solutions, and connects seamlessly with all sales channels—both offline and online.

Key Features:

• integrates every shipping order across all carriers and makes it easy for you to manage stock with a single touch.

• using tracking features, automatically changes orders and stock levels.

• With a single click, pricing, stock listings, and tracking information are updated.

Cost: $49 per month

Things to Consider While Buying An Inventory Management Tool

Integration With Accounting Software

Accounting software integration powers essential operations including inventory control software and inventory audit management. Always look for software that integrates easily with existing accounting programmes on your system. Request integration from your vendor or check into outside options.

Cost of Ownership

Depending on factors like product support, data storage, installation, training, extra features, upgradeability, and other factors, different vendors charge different prices for the programme. Always keep an eye out for the features you are receiving for the cost. Before investing in inventory software, determine the cost of ownership.

Cloud- based

The majority of cutting-edge software has cloud-based capabilities, which is an additional feature. You might not need this capability if you are purchasing inventory management software for a small firm. Cloud-based software, however, can be beneficial for medium- or large-scale businesses. Users can access inventory information from anywhere, therefore sales may not be limited to a specific area.

Conclusion

An effective inventory software solution automates business operations, sets order quantities, and activates sales forces. For company choices, inventory data is just as crucial as financial data.

A corporation must select thorough inventory software that aids in comprehending client desires, problem areas, eliminating overstocking, reducing resource waste, and increasing the company's profit through improved sales techniques.

FAQS

What is Inventory Management?

The procedure of ordering, storing, using, and selling a company's inventory is referred to as inventory management. This covers the storage and processing of such commodities as well as the management of raw materials, components, and completed goods.

What is an Inventory Management Software?

You can track products and inventory levels across your company's supply chain with the help of inventory management software. Consider it a solution that charts the whole path taken by your items. The software handles everything, from placing orders with your provider to shipping them to your customers.

How to choose the best inventory management system?

You must choose the best option to make the most of inventory management software. And for that, it's crucial to understand which characteristics comprise the greatest option. The tracking of your complete inventory, including raw materials and finished goods, is made easier with a competent inventory management solution. In order to better serve clients, it also includes tools for forecasting inventory levels.

To eliminate data inaccuracies and provide automation, efficient inventory software has barcode scanning capabilities. It also offers real-time updates and notifications to protect you from situations when there are too many or too few supplies. Whether the programme is scalable and has seamless interactions with other systems, such as accounting software, is the most crucial consideration.

What are the benefits of Inventory Management Software?

• reduces theft incidences

• increased availability of items as a result of stock visibility.

• Due to measured sales and purchases, the business's financial performance has improved.

• accurate accounting for finances and inventory control.

• solves the storage problems.

• repeat purchase automation