30 Best Inventory Management Software, Reviewed & Compared for 2024
The 10 Best Inventory Management Systems Shortlist
30 is a lot, so we have elevated the top 10 inventory management software picks here, for easy reference. You’ll find the top use case for each here.
Our one-on-one guidance will help you find the perfect fit.
In ancient times, retailers used something called pen and paper to record how much product they had in stock, manually adding and subtracting for every unit that came and left. Then there was Excel sheets, which was still pretty rough.
Finally, inventory management software changed the game.
Ecommerce retailers couldn't exist without computers and the internet, obviously. So, it only makes sense that they use these futuristic inventions to automatically keep up with their inventory.
First there were a few options, but now there are so so many. It's exhausting to have to choose. The best inventory management software is out there, you just have to find it.
You want something that'll automate key processes like ordering, counting, storing, selling, and returning inventory. You want to reduce manual errors, save time, and use your time for more important stuff, like growing your brand.
We've done the work. That's why you're here. We have pallets and pallets of ecommerce expertise, plus a scoring system to reduce our own manual errors, which has resulted in this list of best ecommerce inventory software.
Let's get into it.
What is Inventory Management Software?
Inventory management software is a digital platform designed to monitor and manage stock levels, orders, sales, and deliveries.
It automates and streamlines inventory-related tasks, providing real-time data on inventory status. This software helps avoid overstocking or stock shortages, facilitates efficient order fulfillment, and supports accurate demand forecasting.
By using inventory management systems, brands can:
- Monitor stock levels: Keep track of how much inventory is on hand at any given time.
- Manage orders: Oversee the entire order process, from placement to fulfillment.
- Track sales: Monitor sales data to understand what products are selling and at what rate.
- Coordinate deliveries: Ensure timely delivery of products to customers or other locations.
- Automate tasks: Reduce manual work by automating repetitive inventory-related activities.
- Provide real-time data: Access up-to-date information on inventory levels, order status, and sales performance.
This software is essential for maintaining optimal inventory levels, ensuring efficient operations, and supporting strategic business decisions.
Why Trust Our Inventory Management Software Reviews
We’ve been testing and reviewing ecommerce software since 2021. As ecommerce experts ourselves, we know how critical, and how difficult it is to make the right decision when selecting software.
We invest in deep research to help our audience make better software purchasing decisions.
We’ve tested more than 2,000 tools for different ecommerce use cases and written over 1,000 comprehensive software reviews.
Learn how we stay transparent and our review methodology.
Best Inventory Management Software Comparison Chart
This comparison chart summarizes basic details about each of my top inventory management system selections. You can view pricing details and the availability of free trials or demos side-by-side to help you find the best software for your budget.
| Tools | Price | |
|---|---|---|
| Cin7 Core | From $349/month | Website |
| MRPeasy | From $49/user/month | Website |
| SkuVault | From $359/month | Website |
| Settle | From $149/month | Website |
| Linnworks | From $449/month (volume-based pricing) | Website |
| Helcim | From 0.50% + $0.25 per transaction | Website |
| KORONA POS | From $59/month | Website |
| Zoho Inventory | From $29/user/month | Website |
| Acumatica | Pricing upon request | Website |
| Sage X3 | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow to Choose Inventory Management Software
Choosing the right inventory management software can feel like a challenge, but focusing on key areas makes it simpler.
- Define your goals. What problem are you trying to solve? Whether it's optimizing inventory tracking, managing multiple warehouses, or improving integration with your ecommerce platform, knowing your specific need helps focus your search. For example, if frequent stock-outs are an issue, look for real-time tracking and automated reordering.
- Think about who will use the software. Will it be just the inventory team, or will other departments need access too? Determine how many licenses are required and whether you prioritize ease of use for a larger group or speed for advanced users. If the software needs to serve non-tech-savvy team members, it’s best to opt for a user-friendly interface.
- Consider integration needs. Which existing tools does the software need to work with? Think about accounting software, CRMs, or project management tools. Some inventory management systems can replace several tools, so decide if you want to integrate or consolidate.
- Focus on desired outcomes. Instead of comparing endless features, think about the results you need. Do you want better visibility, more accurate stock levels, or improved forecasting? Defining what success looks like will make it easier to choose the right tool.
- Ensure it fits into your workflow. The software needs to support your specific processes. If you handle complex workflows like product bundling, returns, or dropshipping, make sure the tool can accommodate those needs. Just because a tool is popular doesn’t mean it’s the right fit for your business.
If you still need guidance on this, we covered this extensively in our guide to choosing inventory management software.
Best Inventory Management Software Reviews
Here are my top 10 picks for the best inventory software. I’ll outline key features, integrations, and pricing information, where available. Keep reading for additional tools at the bottom of this article.
Cin7 Core is an inventory management software that helps you have an automated, efficient and traceable inventory lifecycle. By focusing on inventory management as its core functionality, Cin7 Core ensures that businesses can effectively track, monitor, and control their inventory levels, leading to improved operational efficiency and cost savings.
Why I chose Cin7 Core: It offers a centralized platform for efficient inventory tracking, order management, and real-time visibility, making it easier for businesses to optimize their supply chains. It provides a centralized platform to efficiently manage inventory, reduce stockouts, and improve order fulfillment.
Cin7Core particularly stood out to me because it provides connected inventory management, automated workflows, and integrations with 3PL and EDI systems. The system also offers additional tools such as point of sale, B2B portals, and robust reporting, providing a complete solution for businesses. The B2B portals will free your team from manual order entry and error resolution
Cin7 Core Standout Features & Integrations
Features include robust reporting and analytics features, enabling you to generate custom reports, track KPIs, and gain insights to make data-driven decisions. Overall, I like that you can handle purchase orders, storage, production, multi-channel sales, and fulfillment and returns from one place.
Integrations include accounting software and other platforms, including Shopify, Quickbooks, Amazon, and Xero. Additionally, it has developer APIs you can use to build custom integrations with your current tech stack. Integrations with 3PL and EDI systems are available for when you need to scale.
Pros and cons
Pros:
- Mobile app for flexible inventory management
- Automation for repetitive tasks
- Real-time inventory tracking
Cons:
- Can take time to learn
- Limited integrations
MRPeasy is an inventory management software that helps manufacturers optimize their order, supply, and production processes.
Why I picked MRPeasy: Users can manage and track stock levels and locations, order lifecycles, and inventory performance metrics in the platform. The software helps users optimize their manufacturing processes with production planning features like automated reordering and an integrated order fulfillment system. To manage stock levels, users can place purchase orders from multiple vendors at once. Picking lists for warehouse workers and shipping labels are generated automatically through the system.
Users can quickly generate reports on any aspect of their inventory management process, such as total revenue, cost per item, and the average time from order to delivery date. The software can also produce reports on things like order histories, shipment statuses, and on-hand stock levels. This helps businesses identify areas where they can improve their process efficiency or reduce costs associated with managing inventory.
MRPeasy standout features & integrations
Features include automated reordering, stock level notifications, barcode scanning, auto-generated picking lists, warehouse lifecycle tracking for batches and lots, and reporting.
Integrations include BigCommerce, Magento, Pipedrive, QuickBooks, ShipStation, Shopify, Ware2Go, WooCommerce, and Xero. Additional integrations can be accessed with a paid Zapier account.
Pros and cons
Pros:
- Automated production planning features
- Affordable option for SMBs
- Flexible functionalities to cater to unique business needs
Cons:
- The tool is simple, so lacks some more specific features
- Customer support is not accessible by phone
SkuVault is an advanced, cloud-based inventory management software that comprehensively mitigates common warehouse efficiency challenges.
Why I Picked SkuVault: Companies can easily manage their inventory and stay on top of their supply-chain management needs while maximizing productivity. SkuVault's reporting features provide detailed insights into inventory performance, highlighting key metrics that can help users refine their inventory management strategies. Sellers can track the movement of items, inventory counts, and low-stock alerts, among other configurable alerts. This information can be accessed directly from the dashboard, with the ability to customize the reports to meet their requirements.
SkuVault provides the ability to analyze sales patterns and forecast inventory needs using built-in tools. Detailed business insights enable users to make data-driven decisions that can help boost sales, improve supplier relations, and increase profits. Merchants can easily manage product lists, offering features such as SKU duplication and bundling support. It can also manage product attributes, such as color, size, and weight, enabling users to assign unique details to each product variant. The software’s product management features support the creation of variable listings on popular marketplaces like Amazon.
SkuVault Standout Features & Integrations
Features include inventory tracking, order fulfillment, multi-channel selling, real-time inventory tracking, data analytics, cycle counts, automated reordering, barcode scanning, inventory forecasting, barcode scanning, real-time data syncs, inventory picking and quality control, advanced analytics and reporting, and multiple warehouse management.
Integrations include Amazon, BigCommerce, eBay, Etsy, GeekSeller, Magento, Microsoft Dynamics, NetSuite, QuickBooks, Salesforce, RetailPro, Sellbrite, ShipRush, Shopify, Square, WooCommerce, and many more.
Pros and cons
Pros:
- Wealth of training materials + supportive staff
- Supports secondary/alternate SKU
- Handles kitting and light manufacturing ops
Cons:
- Mobile app could be better
- Hard to find stale inventory age
Settle is a cash flow management and financing platform tailored for small businesses, especially those in the consumer packaged goods (CPG) industry. The platform offers a suite of features such as accounts payable automation, working capital solutions, purchase order management, and inventory management.
Why I chose Settle: Its real-time inventory tracking provides you with immediate visibility into stock levels. This feature helps to prevent both stockouts and overstock situations. Additionally, the software's AI-powered forecasting capabilities enable more accurate predictions of inventory needs based on historical data and trends.
Settle also integrates with various sales channels and warehouse management systems (WMS). This integration means you can manage inventory across multiple platforms without the need for manual data entry. You can also access tools for accurate landed cost calculations, which include all costs associated with getting a product to its final destination. This feature is particularly beneficial if you deal with international shipping and need to account for tariffs, shipping fees, and other related expenses.
Settle Standout Features & Integrations
Features include AP automation that simplifies the process of tracking and managing invoices, ensuring timely payments and reducing manual errors. This feature is particularly beneficial for businesses that handle a high volume of transactions. Additionally, Settle's purchase order management tools enhance procurement processes and help maintain appropriate levels of inventory.
Integrations include QuickBooks, NetSuite, Shopify, Amazon, and Modern Treasury.
Pros and cons
Pros:
- Strong financing capabilities
- Automated payments
- Inventory forecasting features
Cons:
- Could offer more advanced reports
- Initial setup may take time
Linnworks is an inventory management software with order automation tools and multichannel listing capabilities.
Why I picked Linnworks: Ecommerce businesses can use this software to manage their orders and inventory across multiple selling platforms, icluding Amazon, Ebay, Magento, and Shopify. The platform enables bulk listing and bulk updates as well as price synchronization across channels. Users can also manage their inventory, track inventory performance, and leverage the software's stock forecasting feature to keep up with demand.
The software's automation capabilities include order workflows, purchase orders, and warehouse operations. By automating tasks, businesses can reduce errors and improve their order processing times. Predictive insights and performance tracking are also available in the platform.
Linnworks Standout Features & Integrations
Features include inventory syncing across sales channels, stock forecasting, real-time consumption tracking, multiple warehouse location management, automatic product listing updates, and shipping management.
Integrations include Allegro, Amazon, BigCommerce, Buy on Google, EasyShip, eBay, Etsy, FedEx, Magento, Michaels, QuickBooks, ShipBob, Shopify, Walmart, Wayfair, Wish, and WooCommerce.
Pros and cons
Pros:
- Great customer service
- Can handle multi-channel systems
- Create rules for dispatch & integrated invoices
Cons:
- UI could be more user friendly
- No SAP integration
Helcim is a payment solution tool that offers transparent and affordable options for small and medium businesses accepting credit card payments in-person or online. With its focus on providing transparent payment solutions, Helcim stands out as the best tool for businesses looking for a reliable and secure payment processing system.
Why I Picked Helcim: I chose Helcim for inventory management software due to its commitment to transparent and affordable payment solutions, which is critical for managing the financial aspects of inventory. Helcim distinguishes itself with its Interchange Plus pricing model and a comprehensive suite of payment tools, ensuring businesses have access to a variety of payment options. I believe Helcim is best suited for transparent payment solutions because it emphasizes clear pricing, security, and compliance.
Helcim Standout Features and Integrations
Features include merchant accounts for accepting credit and debit card payments, a mobile app for iOS and Android for on-the-go payment acceptance, virtual terminals for processing transactions over the phone or via other non-direct methods, and payment gateways for integrating payments into business websites with features like hosted payment pages, QR codes, and recurring payment plans.
Integrations include Xero, Quickbooks, WooCommerce, Foxy.io, and Great Exposure.
Pros and cons
Pros:
- Support through phone, email, and an online ticket system
- Interchange-plus pricing model is highly transparent
- Extensive range of services beyond inventory management alone
Cons:
- Limited physical presence outside Canada and the US
- Complexity for small merchants
KORONA POS is a cloud-based point-of-sale system tailored for businesses of all sizes in various industries such as retail, food service, and entertainment. It offers a robust suite of features such as inventory management, customer relationship tools, and reporting analytics, making it an ideal choice for businesses of all sizes
Why I chose KORONA POS: One of its most notable features is the automated inventory tracking system, which continuously tracks inventory levels, providing real-time updates and alerts when stock levels are low. Additionally, the software supports automated reordering, which analyzes purchase history and trends to set ideal reorder levels, further streamlining the inventory management process.
Another key feature is its robust reporting and data analysis capabilities. The software offers detailed insights into sales patterns, stock movements, and inventory performance. This includes methods like ABC analysis and economic order quantities that help optimize inventory levels and improve overall profitability. The system also has the ability to handle multi-location management from a single platform.
KORONA POS Standout Features & Integrations
Features include automated counting, a notifications system, real-time reporting and analytics for sales performance, inventory movement, and customer behavior, and CRM capabilities like customizable loyalty programs and promotions.
Integrations include Bookkeep, Octopus Bridge, Card Market, Bottlecapps, bLoyal, BlockChyp, Sekure, NearSt, Groc, BOLD Integrated Payments, BLUbeem, LineupApp, Microsoft Excel, WooCommerce, QuickBooks Online Advanced, and Adobe Commerce.
Pros and cons
Pros:
- Cloud-based flexibility
- Robust inventory management features
- Scalable for single terminals, multi-location operations, and franchises
Cons:
- Limited offline functionality
- Lacks support for multiple languages and currencies
Zoho Inventory is a cloud-based inventory management system that sits within the Zoho business software suite. It's an excellent choice for small businesses with tight budgets since they offer a free plan for up to 50 orders per month, with other affordable plans available for businesses with higher sales volumes.
Why I picked Zoho Inventory: With Zoho Inventory, you get the assurance of working with a quality software company that's well-known for good customer service, plus the option to trial the software with a free account and scale up to add more features as needed.
Zoho Inventory stands out as a great inventory management solution due to its user-friendly interface, robust feature set, and seamless integration with other Zoho applications and third-party software. It offers businesses of all sizes efficient tools for tracking stock levels, automating order management, and generating insightful reports to optimize their supply chain operations. With features like multi-channel selling, barcode scanning, and real-time inventory updates, Zoho Inventory empowers businesses to streamline their inventory management processes, reduce manual errors, and ultimately improve their overall efficiency.
Zoho Inventory Standout Features & Integrations:
Features include vendor-managed inventory, reporting, analysis, and lot traceability. Users can create purchase orders, backorders, and drop shipments, as well as track every inventory item by serial number. Other benefits include features such as shipment estimating, tracking, bill of materials, and delivery confirmation. Mobile apps are available for both Android and iOS devices.
Zoho Inventory integrates natively with various ecommerce platforms and PoS systems, including Amazon, Etsy, eBay, Shopify, Magento, Bigcommerce, WooCommerce, and TradeGecko, and with numerous shipping and payment service systems. Additional custom integrations are also available by connecting a paid Zapier account too.
Pros and cons
Pros:
- Fits many business needs
- Easily customizable
- Affordable pricing
Cons:
- Some features are slow
- Tech support needs work
Acumatica is an inventory management software that's designed to help simplify core inventory processes through flexible item management, quality traceability, and robust replenishment to balance your supply and demand. It was built to help growing small and mid-market organizations advance their inventory management practices at scale.
Why I picked Acumatica: Acumatica's inventory management software has a modern user interface that scores well from a usability perspective. Their software is also fully accessible from mobile devices, making them a great choice for remote workforces. Its cloud-based architecture ensures accessibility and scalability, making it an ideal solution for companies of various sizes and industries seeking efficient and adaptable inventory management capabilities.
Acumatica stands out as a strong choice for inventory management due to its robust feature set and cloud-based flexibility. It offers real-time visibility into inventory levels across multiple locations and integrates seamlessly with other key business processes, such as order processing, financials, and manufacturing, providing a unified platform for comprehensive control. Acumatica's advanced functionalities, including demand forecasting, automated replenishment, and multi-location tracking, empower businesses to optimize stock levels, reduce carrying costs, and minimize stockouts or overstocking.
Acumatica Standout Features & Integrations:
Features include financial management, construction management, customizable workflows, item management, warehouse automation, customer management, user-level permissions, and sales order management.
Integrations include 75+ native integrations with popular eCommerce tools plus an additional 200 other featured solutions available through their open API.
Pros and cons
Pros:
- Strong integration capabilities
- Highly customizable
- Comprehensive functionality
Cons:
- Limited mobile app functionality
- Steep learning curve
Sage X3 is a powerful ERP and inventory management system that helps companies respond to change, reduce excess inventory, and cut costs. The software can be deployed in the cloud, on-premises, or using a hybrid of both. It is designed to be a multi-company, multi-country, and multi-site solution.
Why I picked Sage X3: Their inventory management system uses real-time supply-chain data to help organizations make decisions about stock volume and whether to restock or discontinue items. Their software also helps to automate purchasing while controlling inventory costs.
Sage X3 is a robust solution for inventory management due to its comprehensive features and user-friendly interface. It offers real-time visibility into inventory levels, enabling businesses to optimize stock levels and minimize carrying costs. With its ability to automate tasks like order processing, replenishment, and demand forecasting, Sage X3 streamlines operations and reduces the risk of overstocking or stockouts. It's scalability and customizable reporting tools empower organizations to adapt to changing inventory needs and make data-driven decisions, ultimately improving efficiency, accuracy, and profitability in their inventory management processes.
Sage X3 Standout Features & Integrations:
Features include financial management, supply chain management, manufacturing management, business intelligence, multi-company and multi-site capabilities, compliance and regulatory support, mobile access, workflow automation, and integration capabilities.
Sage X3 integrates natively with other Sage applications and industry-leading software, including Boomi, Certify, erpCommerce, Planful, Lynq, Prophix, Skynamo, SPS Commerce, YayPay, and others.
Pros and cons
Pros:
- Can handle multiple companies' stock
- Quality control processes work well
- Robust set of features
Cons:
- No document management in standard version
- Financial reporting could be stronger
Other Inventory Management Software
Here are a few more worthwhile options that didn’t make the best inventory management software list:
Related Ecommerce Software
If you still haven't found what you're looking for here, check out these tools related to inventory management software that we've tested and evaluated.
- Ecommerce Platforms
- Payment Processing Software
- Shopping Cart Solutions
- Order Management Systems
- Warehouse Management Software
Our Selection Criteria for Inventory Management Software
Choosing the right inventory management software is essential for optimizing ecommerce operations. With numerous options available, it’s important to evaluate these platforms based on specific criteria to ensure they meet your business's unique needs.
Here’s the framework we use:
Core inventory management functionality (25% of total weighting score)
To be considered among the best, the software must support key use cases such as:
- Real-time inventory tracking across multiple locations.
- Efficient processing and management of purchase orders and supplier relationships.
- Automated reordering processes to prevent stockouts.
- Detailed reporting and analytics for better decision-making.
- Seamless integration with business systems like CRM and accounting software.
Additional standout features (25% of total weighting score)
We look for platforms that offer unique features that stand out, including:
- Advanced AI-driven demand forecasting for more accurate stock predictions.
- IoT integration for real-time tracking of goods in transit.
- Blockchain technology for secure and transparent supply chain management.
- Customizable dashboards and reports for deeper inventory insights.
- Mobile app availability for on-the-go inventory management.
Usability (10% of total weighting score)
When evaluating usability, we focus on:
- A clean, intuitive interface that simplifies complex tasks.
- Drag-and-drop functionality for customizing reports and dashboards.
- Quick access to key features with minimal navigation.
Onboarding (10% of total weighting score)
For onboarding, we consider:
- Availability of comprehensive training materials like videos and documentation.
- Interactive tutorials or product tours guiding new users through key features.
- Responsive customer support during setup and data migration.
Customer support (10% of total weighting score)
Effective customer support is assessed by:
- 24/7 availability through multiple channels, including live chat, phone, and email.
- Access to a dedicated account manager for personalized assistance.
- An active user community or forum for peer support and insights.
Value for money (10% of total weighting score)
Value for money is determined by:
- Flexible pricing plans that cater to businesses of all sizes.
- A clear breakdown of features included in each plan for transparency.
- Free trials or demos allowing businesses to evaluate the software before committing.
Customer reviews (10% of total weighting score)
When evaluating customer reviews, we look for:
- Testimonials from businesses similar in size or industry, providing relevant insights.
- High ratings for ease of use, feature set, and customer support.
- Positive feedback on the software’s impact on inventory accuracy and order fulfillment.
Trends in Inventory Management Software for 2024 and Beyond
Inventory management is evolving rapidly in 2024, with businesses increasingly adopting new technologies to improve efficiency, sustainability, and accuracy. Here are the most notable trends shaping the future of inventory management:
- Artificial intelligence (AI) and machine learning. AI is improving demand forecasting by analyzing sales patterns, customer behavior, and market trends. This helps businesses optimize stock levels, reducing overstock and preventing stockouts.
- Sustainability in inventory practices. Businesses are integrating features that track carbon footprints and reduce waste. Eco-friendly stocking methods are becoming more prevalent as companies align their operations with sustainability goals.
- Automation and robotics. Automated Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs) are handling repetitive tasks like picking and packing, increasing warehouse efficiency and reducing the need for manual labor.
- Internet of Things (IoT). IoT devices and RFID tags allow for real-time tracking of inventory, giving businesses full visibility into stock levels and locations. This technology helps prevent stockouts and improves the accuracy of supply chain operations.
- Cloud-based solutions. Cloud-based inventory management tools offer real-time data syncing, remote accessibility, and scalability. These systems are ideal for distributed teams and businesses looking for flexible, efficient inventory management.
- Mobile accessibility. The use of mobile apps for inventory management is increasing, allowing workers to track stock, scan barcodes, and access real-time data from anywhere, improving operational flexibility.
- Blockchain integration. Blockchain technology is enhancing transparency and security in supply chain management by creating tamper-proof records of transactions. This reduces the risk of fraud and improves trust among supply chain partners.
- Personalization. Data analytics are enabling personalized inventory recommendations based on customer behavior and preferences, which helps businesses optimize stock levels and enhance customer engagement.
These trends highlight the shift towards smarter, more efficient, and sustainable inventory management systems.
14 Top Features of Inventory Management Software
Beyond the basic functionalities listed above, here are some additional key inventory management features to keep an eye out for:
- Real-time inventory tracking. Provides up-to-the-minute data on stock levels across multiple locations, enabling businesses to accurately monitor inventory to prevent stockouts or overstocking.
- Barcode scanning. Facilitates quick and accurate tracking of inventory items through barcode or QR code scanning, streamlining the process of inventory counts and reducing errors.
- Order management. Manages the complete order lifecycle from order creation, processing, and fulfillment to ensure timely delivery to customers. This feature often includes integration with sales channels and e-commerce platforms.
- Multichannel management. Connects your point of sale (POS) system, sales channels, dropshipping systems, and marketplaces like Etsy, Amazon, eBay, and more.
- Demand forecasting. Utilizes historical sales data and analytical tools to predict future demand for products, helping businesses optimize their inventory levels and reduce carrying costs.
- Automated reordering. Automatically generates purchase orders for restocking based on predefined minimum and maximum stock levels, ensuring that inventory is replenished in a timely manner.
- Supplier management. Allows businesses to manage information about suppliers, including contact details, order history, and performance metrics, facilitating better supplier relationships and procurement strategies.
- Multi-location management. Supports management of inventory across multiple warehouses or retail locations, providing a unified view of stock levels and facilitating the transfer of items between locations as needed.
- Batch and expiry tracking. Tracks inventory items by batches, lots, or serial numbers and monitors expiry dates—crucial for businesses dealing with perishable goods or items with shelf-life considerations.
- Reporting and analytics. Offers detailed reports and analytics on inventory levels, sales performance, order history, and more, enabling businesses to make informed decisions based on accurate data.
- Integration capabilities. Seamlessly integrates with other business systems such as accounting software, CRM (Customer Relationship Management), and ERP (Enterprise Resource Planning) systems, ensuring data consistency and streamlined operations.
- Cloud-based access. Provides access to inventory data from anywhere, at any time, through cloud-based platforms, enhancing flexibility and enabling remote management of inventory.
- Customization and scalability. Offers customizable features and scalable solutions that can grow with the business, accommodating changes in inventory volume, complexity, and business needs.
- Automation. Includes automatic stock replenishing options or customizable workflows to streamline your order fulfillment, inventory control, and warehousing processes.
Benefits of Inventory Management Software
Inventory management software is a critical tool for businesses looking to streamline their operations, reduce costs, and improve customer satisfaction. Here are five primary benefits of implementing inventory management software:
- Enhanced efficiency and productivity. Automates routine tasks, reducing manual effort and errors. By automating processes such as stock level monitoring and reordering, inventory management software frees up staff time, allowing them to focus on more strategic tasks that add value to the business.
- Improved inventory accuracy. Offers real-time tracking of stock levels and movements. This feature minimizes the chances of human error in inventory counts, ensuring that the data reflected in the system is accurate and up-to-date, which is crucial for making informed business decisions.
- Cost reduction. Reduces excess stock and minimizes storage costs. Inventory management software helps businesses maintain optimal inventory levels by providing tools for demand forecasting and automated reordering, which in turn reduces the costs associated with holding too much stock.
- Better decision making. Provides valuable insights through reporting and analytics. With detailed reports on inventory trends, sales patterns, and order history, businesses can make data-driven decisions that improve operational efficiency and profitability.
- Increased customer satisfaction. Ensures product availability and timely order fulfillment. By maintaining accurate stock levels and efficiently managing orders, inventory management software helps businesses avoid stockouts and delays, leading to higher customer satisfaction and loyalty.
Implementing inventory management software offers tangible benefits that can transform how businesses handle their inventory and orders.
To improve your inventory management, investing in the right software is a step toward operational excellence and a competitive edge.
Cost & Pricing of Inventory Management Software
Cost is always a factor in choosing new software. Inventory management systems have tiered pricing like many solutions. They can also scale with your brand.
Here's a breakdown of typical plan options and pricing for inventory management software.
Plan comparison table for inventory management software
| Plan Type | Average Price | Common Features Included | Best For |
|---|---|---|---|
| Free | $0 | Basic inventory management, limited orders per month, community support, essential features only | Hobbyists, solopreneurs |
| Basic | $0 - $99/month | Real-time inventory tracking, basic reporting and analytics, single user access, limited SKUs and transactions | Small businesses, startups |
| Standard | $100 - $499/month | Multi-location tracking, barcode scanning, multi-user access, advanced reporting, integration with other tools | Growing businesses, SMEs |
| Premium | $500 - $999/month | Full feature access, custom integrations, unlimited SKUs and transactions, advanced analytics and forecasting, dedicated support | Medium to large businesses |
| Enterprise | $1000+/month | Customizable features and workflows, API access for custom integrations, personalized onboarding and training, priority support, scalability options for large businesses | Large enterprises |
Selecting the right inventory management software plan involves balancing your business's current needs with its future growth.
Consider not only the features and limitations of each plan but also the software's ability to integrate with other tools your business uses.
Key considerations for inventory management software costs:
- Number of users: Costs often scale with the number of user licenses required.
- Integration capabilities: Ensure the software can integrate seamlessly with your existing systems like accounting and CRM.
- Feature set: Higher-priced plans typically offer advanced features like multi-location tracking, detailed analytics, and automated reordering.
- Scalability: Choose a solution that can grow with your business to avoid the need for future migrations.
- Support and training: Premium and enterprise plans often include dedicated support and training, which can be crucial for smooth implementation and operation.
Understanding these factors will help you choose the most cost-effective and suitable inventory management software for your business needs.
By investing in the right plan, you can streamline your inventory processes, reduce costs, and improve overall efficiency
New & Noteworthy Product Updates
Here are some key product updates for inventory management software products that users and software buyers should be aware of this quarter.
Learn what’s new, if it’s hot—or not, and why each major change matters for ecommerce experts.
ShipStation recent updates
Here are some recent ShipStation update highlights.
- Split and Combine Shipments Improvements: This update, rolled out in March 2024, changed how orders are split and combined, focusing on maintaining the integrity of order records and reflecting the actual fulfillment processes more accurately. It allows for splitting items within a single order into multiple shipments and combining items from different orders into one shipment.
- Quickship Improvements: In March 2024, ShipStation enhanced the Quickship feature, allowing users to customize which confirmation screens and alerts to skip, which aids in speeding up the shipping process while maintaining control over the details that matter most.
- Send Rates to Store Checkout (New Feature): Released in March 2024, this feature enables ShipStation users to send shipping rates from their ShipStation accounts to their online store checkouts, allowing customers to view and select shipping options during the checkout process. This integration supports various platforms like Shopify, Magento, BigCommerce, and Wix.
- Automation Module Enhancements (May 2024): ShipStation introduced advanced automation features that allow users to add placeholders like carrier details in automated email workflows. This improves efficiency in communication, as shipment carriers are automatically included in email templates, reducing manual updates in sale workflows.
Verdict: Still hot! The new automation features, particularly for email workflows, make ShipStation even more efficient. These updates reduce manual tasks and improve shipping accuracy, keeping it a strong, must-have tool for ecommerce shipping management.
ShipBob Recent Updates
Here are some recent ShipBob update highlights.
- Royal Mail Large Letter Shipping: In February 2024, ShipBob introduced the Royal Mail Large Letter service for shipping from UK fulfillment centers. This service is aimed at subscription brands and others sending smaller parcels, offering a lower-cost shipping option with full tracking and 48-hour delivery across the UK.
- FDA Registered Warehouses and Logistics: This update is relevant for compliance-focused ecommerce businesses using or considering 3PL services. As of May 2024, ShipBob provided insights on the advantages and requirements of using FDA-registered warehouses and logistics providers.
- Real-Time Inventory Count (May 2024): ShipBob now allows users to visualize SKU velocity and inventory days remaining from a centralized dashboard. This update helps ecommerce businesses manage stock levels more proactively by displaying detailed historical data on inventory across all distribution centers.
- Expanded Shipping Zones (May 2024): ShipBob also expanded its distributed fulfillment network, offering more precise inventory tracking and faster shipping within different geographic zones.
Verdict: Hot! With real-time inventory tracking and expanded shipping zones, ShipBob offers enhanced control over stock and faster fulfillment options. These improvements make it a standout for businesses focused on scalability and efficient logistics. I'm loving ShipBob's new resource guides for Distributed Order Management, GMROI Guide for Retail Inventory, and Ecommerce Guide to Fill Rate.
Linnworks Recent Updates
Here are some recent Linnworks updates.
- Enhanced FedEx Shipping Services: Released in March 2024, Linnworks introduced new FedEx shipping services, including FedEx First and FedEx Priority Service, among others. This update aims to simplify and improve shipping options for users in Europe by harmonizing domestic and international services.
- Amazon Shipping Delivery Note: In March 2024, Linnworks integrated a feature allowing users to send delivery notes to carriers for non-Amazon channel orders using Amazon Shipping. This service is available with specific Amazon Shipping services in the UK.
- eBay Bulk Listing Tool: Updated in February 2024, this tool facilitates the creation of multiple listings on eBay, enhancing visibility and tracking of eBay listing templates. It is particularly useful for handling large volumes of listings.
Verdict: Hot! It seems like Linnworks is working hard to play well with other titans of ecommerce, including Amazon, eBay, and FedEx. This bodes well for their position in the marketplace.
Cin7 Core Recent Updates
Here are some recent Cin7 Core updates.
- B2B Portal Enhancements: In February 2024, Cin7 Core introduced new settings in the B2B portal to enable or disable customer delivery preference selections and to hide prices from B2B guest users. This update aims to simplify the checkout process and enhance the customization of the B2B portal experience.
- Sales and ShipStation Integration Enhancements: This March 2024 update includes a new prohibition on overpayments in sale invoices and introduces new attribute field types for additional attributes in inventory items, suppliers, and customer records. It also allows for setting default carrier, service, and package types for ShipStation, facilitating easier and more consistent shipping operations.
- QuickBooks Online and Stripe Integration Enhancements: March 2024 enhancements include the ability to pay supplier invoices with Settle, summarization of sales invoices/credit notes into consolidated transactions for QuickBooks Online, and small UI improvements to the Stripe payment workflow. These updates aim to streamline financial transactions and sales invoice management.
- RMA Portal UX Enhancements: The user experience for Cin7’s RMA (Return Merchandise Authorization) Portal has been improved, allowing customers to create return requests with just an email address. The update enhances security and makes it easier for customers to manage returns without needing order details.
- Advanced Manufacturing Module Improvements: Cin7 introduced a new Production Run Shortage Report that shows component shortages for active production runs. This report helps manufacturers identify which production runs can be completed with available stock, improving production efficiency.
Verdict: Hot! The RMA Portal enhancements and the Production Run Shortage Report elevate Cin7 Core’s appeal, especially for manufacturers and businesses handling returns. These updates streamline operations, making it a top choice for advanced inventory management.
Fishbowl Recent Updates
Here are some recent updates for Fishbowl inventory management software.
- MySQL 8.0 Support: In February 2024, Fishbowl updated to include improved MySQL support. This update includes support for MySQL 8.0, enhancing database performance and security features for users upgrading from MySQL 5.7.
- Automated Plugin Updates: In March 2024 Fishbowl updated to include minor plugin changes. Fishbowl now automatically updates plugins when the software is upgraded to the latest version, simplifying the maintenance and ensuring compatibility.
- Enhanced Installation Process: In, April 2024 Fishbowl updated to include an easier installation process. The installation process has been streamlined to better cater to specific business types and industries, facilitating a more tailored setup.
Verdict: Not! I'm seeing a lot of backend tweaks but not necessarily anything that is revolutionary for the end user.
Inventory Management Software Frequently Asked Questions
Here are some answers to frequently asked questions you may have about inventory management for ecommerce and the tools that support it:
What are some inventory management tactics?
Maintaining a lean inventory approach can be highly effective for ecommerce success. Here are a few common tactics used for inventory management:
- Economic Order Quantity (EOQ): A principle to balance having enough inventory to meet demand while avoiding excessive storage costs and stockouts.
- ABC Inventory Analysis: Prioritizing products based on importance and investment return, focusing attention and resources on high-priority items.
- Backordering: Continuously selling products even when they are out of stock, requiring quick restocking and effective communication with customers.
- Just-in-Time (JIT): Ordering inventory shortly before sales to reduce warehouse costs, waste, and upfront spending. This requires reliable suppliers and a deep understanding of sales trends and lead times.
- Consignment: Selling stock from a third party without paying until a customer makes a purchase, lowering risk and enabling a diverse product range.
- Dropshipping: Operating an ecommerce site without holding inventory, directly selling products from other brands or manufacturers, usually for a fee, to increase product variety with lower risk.
Are there any free inventory management tools?
There are many free inventory management software tools, including Odoo, Zoho Inventory, Boxstorm, and Stockpile. However, in my experience, most free applications only offer limited features and functionality.
Free plans may be useful for testing out basic capabilities and getting a feel for their user interface. However, most business owners soon graduate to paid pro tools that offer the advanced performance needed to run a successful ecommerce store and enhance customer relationships.
Can tools track inventory across multiple warehouses in real-time?
Yes, many advanced inventory management tools offer the capability to track inventory across multiple warehouses in real-time. These systems use cloud-based technology to update inventory levels instantly as sales are made or stock is moved, ensuring that inventory counts are accurate across all locations. This is essential for businesses operating in multiple regions or those that use dropshipping models, as it helps in making informed restocking and distribution decisions.
How do inventory software tools facilitate dropshipping and third-party logistics (3PL) partnerships?
Inventory software facilitates dropshipping and 3PL partnerships by integrating with external logistics providers to automate the order fulfillment process. These tools can send order information directly to dropshippers or 3PL services, track shipping and delivery status, and update inventory levels based on order completions. This seamless integration helps ecommerce businesses manage their supply chain more efficiently, even when they don’t hold the inventory themselves.
Are there any inventory management solutions that specialize in perishable goods?
Yes, there are inventory management solutions that specialize in perishable goods, designed to address the unique challenges of managing items with limited shelf lives.
Examples include Farmsoft and Katana MRP. These solutions often feature batch tracking, expiry date management, and accelerated restocking functions. They help businesses minimize waste, ensure compliance with safety standards, and optimize the supply chain for freshness.
What security features do inventory software offer to protect inventory data?
Inventory software offers various security features to protect inventory data, including encryption, user authentication, role-based access control, and regular backups. These measures ensure that sensitive data is safeguarded against unauthorized access, data breaches, and loss. Maintaining high levels of security is crucial for building trust and ensuring the integrity of inventory management processes.
How can stock management software help reduce dead stock?
Stock management software helps ecommerce businesses avoid dead stock by tracking inventory levels in real time. It also forecasts demand, facilitating informed decisions about inventory purchases. Using inventory management software, you can monitor the performance of all your SKUs. You’ll get a better understanding of which items are selling and which are not. Then you can take steps to increase your sales optimization or phase out potentially dead stock.
Additional Inventory Management Software Reviews
Looking for a more specific type of inventory management software? Check out these other software reviews:
- Retail Inventory Management Software
- Cloud-Based Inventory Management
- Enterprise Inventory Management Software
- Ecommerce Inventory Management Software
- Free Inventory Management Software
- Online Inventory Management Software
Leave Pen and Paper Behind For Tracking Stock
A well-oiled inventory management process is the key to success for any ecommerce business.
And a trusted software can send smart stock alerts to your mobile device, ensure your inventory data stays secure and up-to-date, and more.
Hopefully you found a suitable solution on my list—or at least the information you need to find a software that suits your business needs!
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