It's tough to find the ideal inventory management software for your business. Why? Well, first off there are hundreds of software out there. Making your decision-making process tough.
If you do end up narrowing it down to a dozen or so software, you can make a decision until you try out the features. So, if you’re reading this guide I have to assume you’re going through something similar.
If you can’t figure out which one to choose, or if you’re not technically gifted, you need to read this list of the best inventory management software.
We love to test out different software and create guides that we think will help people out.
We spent our last weekend testing out some of the top-rated inventory management software. And here’s the result of our weekend efforts.
What is an Inventory Management Software?
Hey, chances are you may have a completely different understanding of inventory management software.
We’ve decided to clear the fog of confusion. An inventory management software will help keep track and manage your warehouse. Moreover, a tool worth it's salt will also help in cutting down on unnecessary hardware expenses.
With inventory management software, businesses like yours can keep handling inventory-related problems. Such as:
- Product overstocking
- Product outages
- Manage sales and orders
- Manage delivers without needing other software
Now that it’s clear what inventory management software has to offer. Let’s jump onto our list of the 7 best inventory management software.
7 Best Inventory Management Software
If you’ve been doing research on the best inventory management software, then you must have come across NetSuite.
NetSuite is more than an inventory management software. We call it a “one-stop business solution”. It can:
- Manage inventory
- Help out in bookkeeping
- Help out in marketing efforts
We believe NetSuite is perfect for businesses of all scales and sizes. It’s a cloud-based service that combines all the data into a simple-to-handle dashboard.
Oracle purchased NetSuite in 2016, so you can expect best-in-class service from the tool.
Features of NetSuite:
- Multi-language support
- Business intelligence solutions
- More than 350 integrations
- Revenue recognition
- Global user support
- Inventory forecasting
- Production Identification
- Multi-warehouse support
- In-built Point of Sale software
- Order management
- Supply chain management
- Tax compliance
- Multi-currency support
2. Cin7 Oderhive
Don’t let the complicated name prevent you from trying out this beast. We absolutely loved it, regardless of the expensive setup fees.
Cin7 offers a wide range of advanced features and multiple integrations to make your work easier. Overall, it's an affordable inventory management software for your business.
If you only need inventory management and order management functionality, then definitely give this one a try.
There are several plans that fit the needs of multiple businesses. What makes it different than other tools is it offers unlimited stock-keeping units.
As a web-based service, Cin7 is compatible with all the major browsers. The company however recommends using Chrome and Firefox for a hassle-free experience.
Features of Cin7:
- Automated PO (Purchase Order) creation
- Add, edit, update, or delete products in bulk
- Link or unlink products with SKUs or names
- Stock transfer to other warehouses
- Supports barcode scanning
- Can manage serial numbers, batch numbers, lot numbers, and expiry dates
- Low-stock and out-of-stock notifications
- 10+ eCommerce automation tools
inFlow is a simple and easy-to-use inventory management solution. It provides a central inventory database and B2B showrooms for clients to view and purchase the products.
We love inFlow for its simplicity. While it’s a simple tool, it's still backed by powerful software. The tool is perfect for manufacturers, B2B wholesalers, online sellers, and retailers.
It's also a cloud-based software, but if you want a computer-based solution, you can get that too. As a plus point, it offers mobile apps for Android and iOS.
Features of inFlow:
- Business intelligence reports
- Vendor payments, order history, and purchase order management
- Backorder capabilities
- Kitting, bundling, work order, and assembly
- Scan and generate bar codes
- B2B showroom functionalities
- Creation of contact information and order histories
4. Zoho Inventory
Here comes another beast on our list. Zoho has its hands in almost every possible industry. Fortunately for us, all the solutions they offer tend to be good. The same is the case with Zoho Inventory.
We consider Zoho to be a straight competitor of NetSuite. The only reason why Zoho is lower on the list is that it has some fewer features.
Zoho inventory is integrated with other apps in their suite. Businesses can use Zoho for inventory tracking, and creating sales orders and invoices.
What makes it one of the best inventory management software is its in-built integration for WooCommerce.
Features of Zoho Inventory:
- Multi-channel support
- Thorough inventory reports
- Order fulfillment with integrations for 40+ shipping carriers
- Real-time shipping rate calculations
- Multilingual and multi-currency support
- Backorders available
- CRM functionality
- Complementary Setup assistance
- Dropshipping features
- Android/iOS apps
5. Lightspeed Retail
We’re pretty sure that you must have heard of Lightspeed Retail inventory management software. It’s a combination of POS and an inventory management program.
The software is built for small shops with eCommerce capabilities.
Lightspeed is another cloud-based inventory management software that’s designed to keep up with the needs of brick-and-mortar eCommerce stores.
While their primary service is POS System, the inventory management system leaves nothing to be desired. And, it can integrate with one of the best warehouse management software, SkulVault.
Features of Lightspeed Retail:
- Automate discounts
- Can calculate COGS
- Works seamlessly with bundled products
- Create and send purchase orders
- Can sync with your eCommerce and in-store inventory
- Can use it to offer coupons, promotions, giveaways, and employee discounts
If you want a simple and easy-to-use tool, then Ecomdash should be on your list. It’s cloud-based software, and it runs smoothly on multiple channels. Using Ecomdash, you can manage inventory, shipments, and track orders. And the best part is that you can do all this through a central dashboard.
We consider Ecomdash to be best for small businesses with small-scale inventories. But if you want to use it for bigger needs, it is capable of handling multiple inventories.
Constant Contact/Endurance International Group took over Ecomdash in 2019, and they’ve been working to improve it since.
Features of Ecomdash:
- Unlimited customer support
- Unlimited integrations for users
- Brilliant eCommerce API
- Users can set notifications for almost everything
- Inventory management on multiple channels
- Integrations available for Amazon, Shopify, WooCommerce, eBay, and more
- Real-time shipping rate calculations
- Order fulfillment features
- Keep track of manufactured products
- Seamless sales and product tracking
The last inventory management software on our list is Fishbowl. Before you ignore it because it's in the last position, we’d like to say that it's an amazing tool.
It's one of the best inventory management software for quickly scaling businesses and established enterprises. You can integrate it with QuickBooks for a combination of inventory management and bookkeeping.
The software’s focus is on inventory automation. It tries to take off as much burden off your shoulders as it can.
We loved the work order system. Users can create and share work orders for a number of tasks. It streamlines the day-to-day.
The setup is easy. But if you run into trouble, the software offers training and support. You can also get online videos to help you get back on track.
Features of Fishbowl:
- Inventory forecasting
- Central database for inventory management
- Barcode scanner
- Multi warehouse support
- Inventory tracking & costing
- Can integrate with Amazon, Shopify, WooCommerce, and more
- Stock history reporting
- Data exporting and importing
Final Take: Which One is the Best Inventory Management Software?
I’m going to repeat myself here. It is incredibly tough to choose the right inventory management software. You need to think about a hundred things before making a decision.
Managing your inventory and simultaneously growing your business is tough. If I have to choose my favorite from the list above, I’d choose:
- NetSuite - It’s an all-in-one business management solution. It can streamline your inventory management and help with other tasks.
- Cin7 - An affordable solution for small to mid-sized businesses. Offers robust inventory management.
- Zoho Inventory - Best budget-focused inventory management software for startups and limited budget businesses.
I hope this guide has helped you find the ideal inventory management solution for your business.
Tags: Best Inventory Management Solution, Best Inventory Management Software, Top Inventory Management Software