Inventory Management is such an integral part of operating a profitable organisation that there are practically hundreds of technological solutions to help you monitor the inventory records by Best Inventory Management Software. But how do you know, with so many choices, which channel to choose?
The Best Inventory Management Software essentially depends solely on the style of the company. After all, if you don’t market your goods wholesale, there’s no point signing up for a scheme that requires wholesale order processing. Several Best Inventory Management Software options are available for inventory management, each providing its unique mix of item monitoring, warehousing, manufacturing, supply chain, and features for order fulfilment.
That means the company’s Best Inventory Management Software relies on your market style and inventory needs. We prefer Ordoro’s extensive feature list of Best Inventory Management Software, however, in general.
What is Best Inventory Management Software?
InFlow On-Premise is, in our view, the Best Inventory Management Software. InFlow On-Premise facilitates various warehouse management and helps you track inventory levels and simple order management. However, Zoho Inventory is another excellent choice if you’re looking for a cloud-based option.
However, bear in mind that Best Inventory Management Software may not provide all the order processing, warehousing, and manufacturing characteristics of the company needs, and very few offer incorporation of accounting software. Please read our detailed guide to the Best Inventory Management Software choices to find out more.
You can already have a ready-made inventory optimization tool if you’re on a budget and have Microsoft Office. With Microsoft Excel, to control your inventory, maximise your supply chain, and keep your company coordinated, you can track all the data points you need.
Best Inventory Management Software for Business
NetSuite is a software suite for company administration delivered as a service that performs the roles of enterprise resource planning (ERP) and customer relationship management (CRM). It is a horizontal package intended for a broad spectrum of industries. The system of NetSuite Financials can integrate with the back-office, sales and service processes of a company.
NetSuite Financials covers financial planning, financial analysis and analytics software, invoice processing, order and billing management, supply chain and material management applications. It is possible to view financial details from NetSuite through a web browser or a mobile device. The device undergoes automatic updates and comes with different choices for customization.
For the particular needs of restaurants, Upserve offers a dynamic inventory solution.
Specifically, Upserve provides a larger emphasis than other inventory management software options on expiration date monitoring and specialty supply chain requirements (such as refrigerated shipping).
We really like that Upserve comes with an optimised point-of-sale (POS) system, but, of course, we don’t like that you’re limited to using (and paying for) the special proprietary POS hardware of Upserve. Even, Upserve is definitely the best inventory tracking program you could wish for if you’re running a restaurant.
InFlow Inventory is a fantastic inventory management system for companies on a budget. InFlow offers the best inventory management service on the market, in our opinion. Or with inFlow’s paid plans, you can enjoy more features; some of the cheapest available, starting at a low $71.00 per month.
Also, with many of its inventory tracking features automated, inFlow is remarkably simple to use. It’s even got a great mobile app that makes barcode scanning easier and keeps your sales agents and inventory manager for stock inventory levels on the same page.
However, one thing to keep in mind? InFlow Inventory is inexpensive because it is more scaled back than on our list of other platforms. Although it makes inventory management a breeze, inFlow enforces limits on the number of orders that you can process.
When you’re juggling several sales channels, it’s difficult to practice good inventory management techniques. Fortunately, Ordoro makes it simpler to sell multi-channels. With Ordoro, within your inventory system, you can create master products, allowing you to update descriptions, images, branding, and more at your discretion across all of your sales channels.
Ordoro provides features that make dropshipping a breeze for vendor management. For example, in your catalogue, you can assign vendors to particular products. Then, Ordoro can automatically send the order to the appropriate vendor whenever a customer orders those items, thereby cutting out the middleman, maximizing the efficiency of the supply chain and ensuring that your customers get their items as quickly as possible.
Pomodo Software offers a solution for cloud-based orders and inventory management that is appropriate for companies of all sizes. It provides the ability to add modules to expand the solution to fit the needs of the company. Product management, buying orders, transfers, orders, POS and more are offered by Pomodo. From receiving inventory to selling and shipping to clients, the solution manages everything.
Integrations are included to help tie everything together into one central solution. To fit multiple industry verticals, the solution can be customized. Pomodo provides customers with services, such as data migration and conversion, hardware maintenance and support and integration of systems.
Cin7 provides a system of inventory management that can do more than management of inventory. In fact, for all your business needs, it is a one-stop shop, including everything from inventory optimization to point-of-sale and manufacturing, except for accounting software.
By offering built-in modules that come standard with your plan, Cin7 breaks the mould. Cin7 comes fully loaded with B2B e-commerce features, production features, and even a payment portal, in addition to a fully integrated POS system. And that’s all you would expect from your inventory solution, in addition to barcode scanning, inventory tracking, and order fulfilment features.
Cin7 also provides advanced demand forecasting and support for multichannels, including cross-channel synchronisation every five minutes. This guarantees that you have a dynamic inventory system that stays up to date, helping you with minimal effort to achieve proper inventory management.
If you need a way to track inventory levels in your production facility, assign work orders, and oversee manufacturing on multiple projects, Fishbowl Manufacturing is an excellent inventory control software. Fishbowl Manufacturing allows you to create advanced material bills to begin with (BOMs).
The platform features multi-level BOMs, allowing you to track inventory costs for every job you complete on an item-by-item basis. And because the inventory software of Fishbowl was made to integrate with the accounting software of QuickBooks, to keep track of these costs, you can easily synchronise your inventory and accounting systems.
Multi-level work orders are featured in Fishbowl Manufacturing, which allows you to group work orders across multiple production phases to create an overall production plan. Each stage can be assigned to an individual employee and includes its own instructions and calculations for construction. It helps you better monitor your production jobs and helps your customers with their supply chain management.
To simplify your inventory growth, Zangerine is constructed. In 5 sessions, go live. From BI, Purchasing, Inventory, E-commerce, CRM, Quotes, to Pick, Pack & Ship, you control your entire business. Alongside other services, Quickbooks integrates.
Scale your growth with products, variations, and warehouse locations that are unlimited. Bundles, tiered pricing, and promotions are created easily. Always maintain optimal levels of inventory with multiple vendors’ automated alerts and orders. Zangerine is an e-commerce platform that flows directly into your e-commerce website, Amazon, Ebay and other channels for your inventory.
You can track inventory levels for individual components at the Fishbowl Warehouse (not just complete products). This enables you to track the cost of manufacturing, storage, and labour for each individual part in your warehouse, which means calculating a more detailed, in-depth cost of goods sold (COGS). Since Fishbowl seamlessly integrates with QuickBooks accounting software, you can even help to calculate your COGS.
Fishbowl Warehouse includes built-in shipping features for UPS, which enables pick lists and shipping labels to be printed, all within your inventory system. Multiple warehouses are supported by Fishbowl, making it able to handle more complex business models than many other inventory management solutions.
Zoho Inventory has a great deal to offer. For starters, Zoho offers a fairly comprehensive free plan that enables customers to accept backorders, arrange dropshipping, and manage multi-currency transactions on out-of-stock products. This provides a chance for small companies to keep their inventory organised without worrying about their limited budgets.
Ultimately, however, we believe Zoho only works best for small businesses. Even on the most advanced plan of the platform, companies are limited to a total of 30,000 online and offline orders a month. Zoho also limits invoices, warehouses, packing slips and shipping labels, not great considering that other software (such as Cin7) costs about the same and does not impose such constraints.
The best inventory management software relies a lot on your business size, model, and product type when it comes to it. While we certainly believe Ordoro is the best overall inventory system, for various types of businesses, Upserve, Cin7, Zoho Inventory, Stitch Labs, and Fishbowl all offer excellent inventory tracking and stock management solutions.
And if you need a quality inventory scheme on a budget, InFlow Inventory is also a top choice. Hopefully, this guide has provided you with enough data to make an
informed decision on what type of system will work best for your company.