20 Best Inventory Management Software For Small Businesses

If you are a business person and are running a booming business, then you must be very well known to the fact that the management of inventory is critical no matter you have an offline or an online business. When a person is at the initial phases of business, then this management of the inventory is straightforward, but with substantial business growth, the management gets tough. For easing this task of the enterprise owners, there is software available online.

inventory management software
inventory management software

So, if you want to buy one of the inventory management software, then before buying them, you need to have proper knowledge regarding the platform. You should know what are inventory management software, and what are the tasks that they perform? Amid gaining this knowledge, a person can make purchasing decisions.

What Is Inventory Management Software?

There is always a smart supply chain present behind a successful business with the help of which the product made at the end of the producer reaches the consumer efficiently. In this supply chain logistics, there are a number of elements available, and the product inventory of a business owner has to go through all of these elements to reach the final customer. Now it is important for the businessman to keep track of the inventory for smooth management and future planning. The tool that helps out such people in business in performing all these tasks is Inventory management systems.

Some of the tasks that are performed by these software are:-

  • It will help out in automating the sales channels that are going to help out in improving the productivity and efficiency of the business.
  • The inventory management software will take care of the fact that the stock available neither ends up nor gets accumulated in plenty.
  • Helps out in the proper management of the ultimate inventory that is available with the business and makes every task easier. 
  • The profitability of the business is increased manifold with the help of this software as the wastage of inventory, and chances of manual error have decreased.
  • Helps in the execution of proper and planned supply chain functions.
  • Helps in the tracking of the inventory mistakes and lost inventory of eCommerce retailers.
  • Gives a time-to-time report of the inventory to the person, which also makes it one of the best visibility tools.
  • Maintain a proper equilibrium between the demand and supply of the product for the better supply chain management.

These are a range of supply chain logistics and inventory management tasks that are performed by the inventory management software, due to which many retail business handlers are attracted toward these software. But at the first step of buying software, they face a hurdle. They come in touch with so many inventory managers that they cannot figure out which software is best for them. That is why in this article, we are listing out the best 20 inventory management softwares that have some best and advanced inventory features are.

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1. Acumatica

Most of the large-scale enterprises running around the world are opting for this tool due to its innovative design and easy supply chain functions. Some of the features that are related to this inventory management and Accounting ECommerce software are:-

  • Acumatica helps out in controlling the inventory that is present in your warehouses easily without actually visiting them with inventory management techniques.
  • It is smart software that always uses a powerful replenishment system in case the system receives an automated order. Also, it has barcode scanning capabilities.
  • Like a businessman simplifies the warehouse by the arrangement of products, in the same way, this tool also simplifies the management with proper arrangement.
  • Help in the management of physically wide located locations with their efficient sight.
  • Help with better customer satisfaction by optimizing the inventory from time to time.

Pros

  • Deployment on-premises or in the cloud.
  • A large number of costing methods are available.
  • It is compatible with a wide range of databases.
  • Excellent reporting.
  • Non-user-based pricing accommodates expanding businesses.
  • A browser-based app simplifies the use of mobile devices.
  • The navigation is simple.

Cons

  • It can be difficult to estimate licensing costs.
  • Standard report filters may need to be tweaked.
  • If you are implementing ERP for a company that is not in the manufacturing/distribution vertical, you will need to rely on third-party add-ons.
  • Pricing structure that is out of the ordinary.

Price: To enjoy all these premium features, a person has to pay a price of $71 per month. With some extra bucks, you can also add a platform for accounting in this tool.

2. Oracle NetSuite One World

This oracle software is a cloud-based warehouse and inventory management software that will help out in easing the task of the manager. This software can be easily expanded, which will help in meeting the needs of business easily. Some of the features that are included in this midsize businesses perfect warehouse management platform are:-

  • There are many options in the software that can help in better management of relationships with customers.
  • The enterprise resource planning module of this tool is extensive, which can cater for a range of businesses no other tool can.
  • It is also known as the est platform for accounting and an asset management solution having various mobile barcode scanning options available.
  • The reporting done is simple and very easy to understand and manage with barcode scanning capabilities.
  • The shipping workflow processes available in this tool are highly customizable, like integrating accounting systems with the tool.
  • The dashboards are arranged in a hierarchical order which makes them attractive.

Pros

  • Excellent customer relationship management capabilities.
  • A wide range of businesses can benefit from broad enterprise resource planning features.
  • Excellent drill-down capabilities from multiple system perspectives.
  • Reporting is straightforward.
  • Workflows for custom processes.
  • Dashboards that are easily navigable and hierarchical.

Cons

  • A befuddling help system.
  • Configuring the system for specific roles is difficult.
  • The feature set is extensive but complex.

Price: To access this tool, a person need to buy a basic license which cost $999, and after that, the cost per month will be $99, which allows only one user to use this system. one can also take more permission according to business size.

3. Syspro

For all the supply businesses that are currently at their initial levels and want a strong tool for their enterprise resource planning, then this tool is the best for them. Some of its features are:-

  • The software provides a pinch of flexibility to its clients, which makes it more desirable.
  • If you are looking for scaling from one person to a hundred, then it can be done easily with this ultimate inventory system.
  • The capabilities of production, distribution, warehousing, and retailing report making and management is par expectation of its asset management solution.
  • Many types of businesses, like E-Commerce and drop shipping, can enjoy the benefits of this tool with powerful integrations.

Pros

  • Excellent capabilities for manufacturing, distribution, warehousing, and retail operations.
  • Syspro’s own Point of Sale and Demand/Forecasting engines are used.
  • Comprehensive but simple to use.
  • A large number of modules are available.

Cons

  • There are no modules for payroll or human resources (HR).
  • For some smaller businesses, this may appear to be overwhelming.

Price: The cost of the Syspro tool is around $199 per user, which has to be paid every month. You must also go through the best music production software at Bighterguide.com.

4. AccountMate

The AccountMate software is a financial and Enterprise resource planning software that keeps accounting records along with inventory management. The tool is very well known for the configurable features that are offered by them, which are mentioned below.

  • There are many report exporting options available in the software that cut down the inventory mistakes.
  • There is some great transaction drill-down option that is available with the tool.
  • For increasing the functionality of the person, this tool is also offering much online training, which makes a person better at keeping management and accounting records.
  • The audit trail reporting of the entire supply chain is excellent for this tool which can find any lost inventory.

Pros

  • There are numerous report export options.
  • Excellent transactional drill down.
  • Online training and assistance are extensive.
  • Strong audit trail reporting capability

Cons

  • ERP implementations do not include HR or POS modules.
  • Graphics and charting are limited.
  • Task shortcuts must be set up.
  • There are no true dashboards.
  • There is no process flowchart navigation.

Price: The cost of this tool is around $4000, and there is no free version of this tool. A person can enjoy the free trial for some time, after which supply businesses have to pay the hefty amount.

5. Denali By Cougar Mountain

Denali is one of the best Business management software and visibility tools, which have many expansion modules aiming mainly at a variety of businesses. Some of the features of this tool are:-

  • The navigation of this tool is very easy, which saved time for the inventory manager while managing the current inventory.
  • Crystal reports are included with this tool for taking a look at the stock with online retailers.
  • Helps in keeping an eye on all your warehouses at once, which is important for better external visibility.
  • The tracking of inventory lying with the retailers is made very easy.

Pros

  • Simple to use navigation.
  • Crystal Reports is included in two of the three bundles.
  • Available as a one-time purchase or in monthly installments.
  • Purchases can be made directly or through a reseller channel.
  • The Fund Accounting edition is now available.

Cons

  • Even the most basic bundle includes a $495 charge for Crystal Reports.
  • The report filters and data entry screens are not particularly user-friendly.
  • Most modules do not have much charting or graphics capability.

Price: To become licensed users of these specialized products, one has to pay around $1999 per user, which stays forever.

6. Open Systems Transverse

Open System is one of the oldest software related to inventory management which is providing best-in-class services to date. Some of the best features of this tool are:-

  • There is a deep dashboard drill-down option that saves from inventory loss.
  • The documentation process of inventory management is made very easy.
  • There is an option of mobile access also, which is very user-friendly for online sales channel management.
  • One can customize reports according to their needs.

Price: One needs to pay $100 per month for every user if they want to use this tool for asset tracking.

7. SAP Business One

The SAP Business One tool is designed especially for that business that is in its growth phase by keeping its price very low and competitive. Some of its features are:-

  • Helps out in proper financial and inventory management, which covers all the sales channels of yours.
  • Purchasing and procuring process is seen by this tool effectively by noticing the current inventory.
  • The reporting is done very efficiently, which helps out the business take some action as soon as possible.

Price: To enjoy all the financial activities related to the inventory write-offs with this tool, one has to pay $1347 as the license. After that, there is a payment of  $110 per user for one month for management software options.

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8. Intuit Quickbooks Enterprise

Quickbooks Enterprise is considered the best-integrated tools options that are available due to its standard accounting methods and entire supply chain handling techniques. Some of the features of this tool are:-

  • Quickbooks Enterprise keeps a proper record of the packages that have left the producer’s end and provides time to time report for that.
  • Quickbooks Enterprise help in the maintenance of a proper cash flow of the business.
  • Help in invoicing for the product levels along with the payments.
  • Time tracking is one properly with time tracking in Quickbooks Enterprise.

Price: To enjoy the services of QuickBooks Desktop Enterprise Review, a person has to pay $35 per month for a plus version in which 65 annual reports are available. If the requirement of business is more than one can also ask for customizations.

9. Zoho Inventory

The Zoho Inventory tool is best known for its free tool offer, which has some basic options of advanced inventory management. If a person wants to upgrade, then they can opt for the paid versions, which are also cost-efficient. Some of the features of this tool are:-

  • There are sales and purchase order functionality in Zoho Inventory.
  • Zoho Inventory provides multi-location with warehouse support with easy mobile barcode scanning.
  • There are many shopping features also available in Zoho Inventory which has some great shipping time track options.
  • Zoho Inventory also supports bar codes, which makes it a very efficient tool for e-commerce.

Price: The price that a business needs to pay if they upgrade from the free Zoho Inventory is around $35, irrespective of business type.

10. Fishbowl Warehouse

The features that are supported by the Fishbowl warehouse Inventory management software are mentioned below.

  • Fishbowl warehouse helps out in multiple locations tracking of stock takes.
  • Businesses can also manage their inventory items easily through the Fishbowl warehouse.
  • Fishbowl warehouse track sales and provides detailed customer insights, sales reports and purchasing with precise data accuracy.
  • Fishbowl warehouse help in transferring products from one place to another smoothly.

Price: The price of Fishbowl warehouse is $4395, which makes you licensed users of its specialized products.

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11. Cin7

A wide variety of features that are related to this tool, along with standard accounting methods, are mentioned below.

  • Help in streamlining your business growth process and increase the chances of growth.
  • There are more than 550 options of integration in this tool which have helped them get the best user ratings.
  • The tool is designed in a way that is singularly flexible for a person.
  • Helps in the tracking of actual costs, landed, and also the managed cost of the stock, which helps the business to control costs.

Price: The cost of this tool may range from around $395-$695 on the basis of the features you select.

12. Unicommerce

Unicommerce is a tool that is specially designed for sellers who are running their e-commerce business. Some of its features are:-

  • The tool is an integrated solution for both the online and offline sale that is made by a brand.
  • Helps in reduction of workforce cost by providing efficient warehouse stock takes.
  • Operating costs of a business are keenly monitored and decreased with the help of this tool.

Price: The price to be paid for taking the benefits of this tool is $29 per user, which is a one-time payment.

13. InFlow Inventory

This tool is one of the best for wholesalers who are running an item based business in bulk. Some of its features are:-

  • Gives you a notification regarding any change that happens in the in-stock.
  • Provides a complete mobile management system having enhanced shipping features that help in tracking the shipping providers.
  • Helps out in reporting of the business and supply chain activities and managing them that is better if one wants to track order status.

Price: The price that a person needs to pay for this tool is $71.00 for one month, which allows 2 users.

14. Magento Commerce

If an eCommerce business is looking for their business activities management, then they can opt for this tool. Its wide variety of features are mentioned below.

  • Helps in complete management of catalogs, materials, and marketing of the eCommerce business with flexibility without any issue of business type.
  • Forecasts the inventory for you, which can make you prepared.
  • Helps in the SEO of your eCommerce business and its management for increasing visibility.

Price: The actual costs of this tool are $1988, which provides you with complete access to this tool.

15. EZOfficeInventory

If you are an established business having branches all around the country, then you should opt for EZOfficeInventory software. The features they are offering are mentioned below.

  • Help in accessing and managing your inventory through its optimized managing options.
  • There are some procurement-related features also that help in the process.
  • Have proper scanning options for barcode scanners, shipping labels, and RFID tags as it automatically updates your product levels for better external visibility.

Price: Pricing of this tool is kept at $35 for one month for the basic essential version and $50 for enterprise options.

16. O2Vend

If you are looking for a tool that can be your partner in your warehousing business and shipping of various locations, then you should opt for this option. Some of its amazing features are.

  • Helps in the optimization of your asset properly along with manufacturing and shipping. It has some amazing shipping integration options, which provide a proper shipping time. 
  • Have proper product identification tools and control costs of those products with barcode scanners or shipping labels.
  • Have a tool that provides you real-time tracking of inventory available in the warehouse and one lying with the suppliers.

Price: For these features, a person has to pay $9.57, before which you can avail a 30 days free trial.

17. Freshservice

The fresh service is known as one of the most intelligent solutions for an inventory management strategy that also helps in inventory write-offs. Some features that are included in this tool are:-

  • It helps in improving the productivity of the tasks with its supply chain automation features.
  • It has various integrated tools which are suitable for midsize businesses and modern enterprises also.
  • Helps in dealing with the shipping providers with their special shipping features.

Price: The price of this tool starts from around $19 per month for one agent, which can also cost more if you add agents or upgrade your plan.

18. Xero

Here are features bundled along with Xero software.

  • It will always help a business to get maximum numbers through its real-time tracking.
  • Will give stock alerts as they find that the inventory is below the required level.
  • It is also one of the best accounting platforms.

Price: This tool’s price starts from $12.50 per month, which may have some additional costs added according to business type.

19. Asset Panda

Asset Panda is cloud-based software that will help out in proper tracking of the inventory with your mobile devices. Some of its interesting features are:-

  • It is a simple and secure software that helps in tracking and managing your entire warehouse inventory with this inventory software.
  • Many customized options are available for various types of businesses.
  • A complete support system is ready for 24*7 customer support, which can help you track order status.

Price: The price of this software is $1499 per year, which has unlimited people access. Before buying the paid version, a person can also try the free version.

20. CommerceBlitz CommerceBlitz OMNI Warehouse

CommerceBlitz is a cloud-based warehouse management platform that helps in the proper management of custom inventory along with the employees. It also provides the business owner to track sales that are made across all the platforms. They also give stock alerts that have a special shipping integration. 

F.A.Qs

What is the need for the inventory management system?

There are plenty of chores related to the business that a person has to handle, and in that handling, if the task of inventory levels management also gets up then, it will be difficult for a person to manage their business. That is why to improve sales activities management; it is important for them to buy an inventory management system.

What are the questions that I should ask from the software retailers?

Before you buy software, you must keep in mind some of your requirements like integration with other software, clients a person can manage through their inventory management strategy, and the access can be provided to how many people. Also, they can confirm the level of support that is offered to the clients. Also, ask them regarding the user ratings they have received.inc

Is there any special hardware I require for managing the inventory software?

There is no requirement for special hardware for operating the inventory management softwares. People need to have a compatible computer or tablet device, a scanner and an active internet connection for using this software’s complete inventory management.

What should I choose the open-source tool or a paid one?

The answer to this question totally depends on the choices and type of your business. If you are a startup business and want some basic features and task to be performed by your tool, then you can opt for the free tool, but when you grow and the task you have to handle with the help of these tools increases, then you have to buy a paid one. The reason behind this is the wide range of features that they are offering.

On what factors the selection of my software will depend upon?

The selection of the software depends on plenty of factors, out of which the most important fact is size, retailers to be managed, and nature of your business. If you are a packaging and delivery company, then your requirement from inventory management systems will be different, and on the other hand, the demand for an e-commerce business will be different. That is why you should consider all of these factors while you buy the software.

Conclusion

Have you got the software that you need for managing your inventory levels? If still, your answer is NO, then you should figure out in your mind that what all are the requirement of your business, and then according to that, you must go through the features of the software again. You will surely get the one which is most appropriate for your business which will boost your management system and sales activities for sure. 

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