Best Inventory Management Software Shortlist
Here’s my pick of the best inventory management software:
Our one-on-one guidance will help you find the perfect fit.
Keeping your inventory organized is essential, but relying on outdated inventory management software can create more problems than solutions. As a CFO, you’ve likely experienced the frustrations of manual processes, inaccurate stock tracking, and time-consuming data entry. These inefficiencies don’t just slow down operations—they also affect your ability to make sound financial decisions.
As a fintech expert with extensive experience in digital software and financial operations, I’ve helped businesses optimize their processes and choose the right tools to achieve their goals. I understand the challenges CFOs face when evaluating software—balancing functionality, cost, and scalability isn’t easy.
To save you time, I tested and reviewed a variety of inventory management software options. With my background in financial operations, I’ve curated this list to ensure you find a solution that meets your requirements and helps your business thrive.
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Best Inventory Management Software Reviews
This comparison chart summarizes pricing details for my top inventory management software selections to help you find the best one for your budget and business needs.
Tool | Best For | Trial Info | Price | ||
---|---|---|---|---|---|
1 | Cin7 Core View product availability across multiple locations and warehouses with Cin7 Core's dashboard. | Best for high sale order volume management | 14-day free trial | From $349/month | Website |
2 | Settle The Settle platform can handle various functionalities including payment processing and bill management, essential for inventory control. | Best for CPG businesses | 30-day free trial | From $149/month | Website |
3 | KORONA POS KORONA POS lets you create and manage your products and track inventory levels for specific items. | Best for multi-location inventory management | Free trial available | From $59/month | Website |
4 | Helcim Helcim includes options for in-person, online, and mobile payment processing, catering to a range of business models. | Best for secure, no-fee card processing | Free account available | From 0.50% + $0.25 per transaction | Website |
5 | MRPeasy MRPeasy is a user-friendly, affordable cloud-based ERP solution for small to mid-sized manufacturers, integrating inventory, production, CRM, and sales. | Best for small manufacturers' production planning | 30-day free trial | From $49/user/month | Website |
6 | Zoho Inventory Zoho Inventory automatically populates purchase orders with purchase data. | Best free option for small shippers | Free plan available | From $39/month | Website |
7 | Acumatica Acumatica Cloud ERP offers features to simplify inventory management. | Best for cross-module workflows | Free demo available | Pricing upon request | Website |
8 | ShipStation ShipStation helps retailers maintain optimal stock levels while accounting for in-progress orders. | Best shipping and inventory combo | 30-day free trial | From $9.99/month | Website |
9 | Infoplus You can customize your Infoplus dashboard with your preferred applications and metrics. | Best for reporting features | Free demo | Pricing upon request | Website |
10 | Lightspeed Retail You can start all major inventory tasks from Lightspeed Retail’s inventory homepage. | Best retail inventory and POS | Customized 14-day free trial | Plans start at $69/month (billed annually) | Website |
Best Inventory Management Software Reviews
Below are my detailed summaries of the best inventory management software that made it onto my shortlist. My reviews offer an in-depth look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Cin7 Core is an inventory management tool that caters to businesses managing high volumes of sales orders across multiple channels. It provides a suite of features including accounting integrations, warehouse management, and point-of-sale systems, which support businesses in effectively managing large quantities of transactions and inventory.
Why I picked Cin7 Core: As an inventory management software, it offers extensive features that cater to the needs of businesses looking for robust inventory management, accounting integration, and detailed reporting and forecasting. Its most advanced plan has the ability to handle up to 120,000 orders per year. The software also offers features such as real-time tracking, automated replenishment, and ecommerce integration, making it easier to understand your stock levels and keep up with demand.
Standout features & integrations:
Features include cost tracking, order consolidation, automated notifications and reports, and mailing lists. It also offers barcode scanning and track transfers between locations and warehouses for better inventory management.
Integrations include Shopify, Amazon, WooCommerce, BigCommerce, Magento, Etsy, eBay, Walmart, Quickbooks, Xero, and more.
Pros and cons
Pros:
- Responsive and quick interface with detailed reports
- Handles multiple warehouses
- Integration with accounting software
Cons:
- CRM features are not fully developed
- Concerns about the software's ability to keep up with business growth
Settle is a unified platform designed for consumer packaged goods (CPG) brands to plan, purchase, and pay for inventory, with integrated access to transparent financing. It centralizes procurement, inventory management, accounts payable automation, and working capital solutions.
Why I picked Settle: Settle offers comprehensive inventory management features that allow you to handle purchase orders, work orders, inventory transfers, SKUs, bills of materials (BOMs), and a universal catalog all in one place. This consolidation eliminates the need to switch between multiple systems. Additionally, Settle provides end-to-end supply chain visibility, enabling you to track inventory from purchase to sale across various channels and fulfillment centers.
Standout features & integrations:
Features include landed cost calculations, which help you understand profit margins by linking bills to purchase orders, work orders, or transfers. Automatic three-way matching between purchase orders, goods received notes, and bills ensures you don't overpay vendors. Additionally, inventory forecasting provides notifications of low SKU counts and suggests reorder times based on lead times and BOM coordination.
Integrations include QuickBooks Online, NetSuite, Shopify, Amazon, Cin7, Google, and Xero.
KORONA POS is a comprehensive point-of-sale system designed to streamline operations for various types of businesses, including retail stores, ticketing services, and cafes. It offers a cloud-based solution that integrates sales, inventory, and customer management into a single, easy-to-use platform.
Why I picked KORONA POS: I like its advanced multi-location inventory management features. It allows businesses to effortlessly track stock levels, transfer inventory between locations, and generate detailed reports on inventory performance. The system’s real-time data synchronization ensures that inventory information is always up-to-date, minimizing the risk of stockouts or overstock situations.
Standout features & integrations:
Features include detailed sales analytics and reporting tools, enabling businesses to identify trends and make data-driven decisions. The software also offers advanced customer relationship management (CRM) functionalities, such as tracking customer purchase histories and managing loyalty programs, to help.
Integrations include QuickBooks, WooCommerce, Shopify, Magento, BigCommerce, Mailchimp, PayPal, Stripe, Worldpay, Authorize.Net, and CardConnect.
Pros and cons
Pros:
- Integrates with third-party loyalty and e-commerce apps
- Advanced inventory management features
- The software layout can be customized
Cons:
- Limited offline capabilities
- Each terminal incurs an additional cost
Helcim is a payment processing tool designed to support small businesses by offering secure card processing without additional fees. It emphasizes transparency and affordability, providing a suite of services such as in-person and online payment acceptance, virtual terminal, invoicing, and subscription management, catering to businesses aiming to reduce credit card processing costs.
Why I picked Helcim: I believe Helcim is the best tool for secure, no-fee card processing because it not only offers affordable payment solutions and transparent pricing but also includes a secure card vault and strong third-party integrations, ensuring both cost-efficiency and security in financial transactions.
Standout features & integrations:
Features include a built-in reporting tool that gives you insights into your sales and customer behavior. You'll also appreciate the invoicing feature, which lets you create and send invoices directly to clients. Plus, the customer management feature helps you keep track of customer interactions and preferences, enhancing your service delivery.
Integrations include QuickBooks Online, Xero, WooCommerce, Shopify, Magento, PrestaShop, BigCommerce, Drupal, OpenCart, and WordPress.
MRPeasy is a leading cloud-based ERP software solution specifically designed for small and mid-sized manufacturing and distribution companies.
Why I picked MRPeasy: MRPeasy excels in providing small to mid-sized manufacturing and distribution businesses with a highly intuitive and efficient cloud-based ERP software solution. Its strengths lie in seamlessly integrating critical business processes such as inventory management, production scheduling, CRM, procurement, and sales management into a single platform. This integration enables companies to gain real-time visibility into their operations, enhance decision-making, and improve productivity and customer satisfaction.
Standout features & integrations:
Features include the ability to track inventory in real-time, which helps you avoid stock-outs and keep your production line running smoothly. You can also manage your sales orders directly within the platform, giving you a centralized view of your customer interactions. Plus, the software offers precise production scheduling, helping you optimize your resources and meet delivery deadlines consistently.
Integrations include Xero, Shopify, WooCommerce, QuickBooks, Zapier, Square, Stripe, BigCommerce, Amazon, and eBay.
Many of the inventory management solutions on this list offer free trials, but Zoho has a truly free plan that includes two users and 50 orders per month. For a small business, this is an accessible path to inventory and order management with an intuitive interface.
Why I picked Zoho Inventory: Best known for its customer relationship management (CRM) system, Zoho now offers a full suite of accounting, commerce, and customer service tools. If you already use other Zoho products, Zoho Inventory is an easy way to track the goods you use Zoho to sell.
Standout features & integrations:
Features include a centralized real-time inventory count that's linked to all major ecommerce channels, and the ability to create product variants for different colors or styles—ideal for clothing retailers. The item kitting functionality also allows sellers to bundle popular items.
Integrations include Zoho Commerce, Shopify, UPS, USPS, FedEx, Amazon, eBay, Etsy, Mailchimp, Hubspot, and Salesforce.
Pros and cons
Pros:
- Automatic SKU generator
- Automatic reordering
- Multi-currency buying and selling
Cons:
- Limited customization options
- No Xero or Intuit integrations
Acumatica Cloud ERP is a comprehensive business management system designed to cater to the needs of various industries and roles through a wide array of modules and solutions. The inventory management software is part of its larger ERP system and includes tools for warehouse management, order management, and point-of-sale capabilities.
Why I picked Acumatica Cloud ERP: Acumatica Cloud ERP facilitates cross-module workflows with its integrated system. Information can flow between various business functions without the need for manual intervention or data re-entry. This integration encompasses modules such as sales, purchasing, accounting, and customer management, ensuring data consistency.
Standout features & integrations:
Features include flexibility and scalability, allowing your team to choose deployment options that fit your needs, whether that's cloud, on-premises, or hybrid. The software's core functionality ensures you can manage finance, accounting, CRM, and project management in one platform, simplifying your operations. With advanced reporting and analytics, you get real-time dashboards and customizable reports, helping you make informed decisions quickly.
Integrations include Salesforce, Shopify, Magento, Microsoft Office 365, PayPal, Stripe, Power BI, Tableau, BambooHR, and ADP.
Pros and cons
Pros:
- Scalable system
- Advanced reporting
- Extensive customization options
Cons:
- Learning curve for new users
- Customizations may be overwhelming
As its name suggests, ShipStation is first and foremost a shipping platform for retailers, helping them find the most economical ways to fulfill orders. But the platform also offers inventory and stock management.
Why I picked ShipStation: Ecommerce businesses and other retailers praise ShipStation for its fulfillment capabilities. For businesses already using it, managing inventory in the same place is easy and efficient. For the many small makers and artists that use ShipStation for shipping, the inventory software is a nice bonus.
Standout features & integrations:
Features include the ability to allocate stock for to-be-shipped orders. One of my favorite features is that users can create hierarchies to determine which order takes priority. ShipStation also enables inventory alerts and allows mobile device inventory management.
Integrations include UPS, Square, eBay, Amazon, BigCommerce, Squarespace, Constant Contact, Etsy, Wix, and Zendesk.
Pros and cons
Pros:
- Easy carrier pricing comparison
- Integrated with major e-commerce platforms.
- Intuitive user experience
Cons:
- No kitting or bundling capabilities
- Poor customer service
Infoplus is a cloud-based inventory management software for ecommerce and logistics providers. It serves as your hub for inventory, order management, and fulfillment. With customization scripts, warehouses and 3rd party logistics (3PL) providers can build their unique workflows.
Why I picked Infoplus: While there are many options for retailers and ecommerce sellers, I wanted to highlight Infoplus because of its strong warehouse management features. Software capabilities related to shipping and receiving management, picking, and automated routing are crucial for third-party logistics companies that many retailers rely on.
Standout features & integrations:
Features include inventory lost control with ID tags and allocation rules. Infoplus also has automatic quality control workflows, such as weight verification and barcode scanning, to minimize human error. Additionally, the software provides granular control over each stage of the fulfillment process, which allows you to mold Infoplus to specific use cases.
Integrations include PayPal, Shopify, QuickBooks, Squarespace, ShipStation, WooCommerce, Adobe Commerce, BigCommerce, Authorize.net, and Braintree.
Pros and cons
Pros:
- 3PL billing automation
- Mobile app
- Custom reporting features
Cons:
- Slow servers
- Requires coding for customization
Lightspeed Retail’s multi-location inventory system automatically syncs with ecommerce channels and data from in-store point-of-sale (POS) systems.
Why I picked Lightspeed Retail: While other solutions on this list can be used for brick-and-mortar retail inventory, Lightspeed Retail’s included POS system works for managing inventories of companies with both virtual and physical storefronts. With your POS and inventory systems connected, your employees will have better visibility into what’s in stock.
Standout features & integrations:
Features include inventory management that lets you easily track stock levels and reorder products. You have access to a customizable POS system that adapts to your specific retail needs. Additionally, the analytics and reporting feature provides insights into sales trends and customer behavior, helping you make informed decisions.
Integrations include Shopify, QuickBooks, Mailchimp, WooCommerce, BigCommerce, Xero, Vend, Homebase, Ikentoo, and Sage.
Pros and cons
Pros:
- Integrates inventory with e-commerce
- 24/7 support
- Includes a POS system
Cons:
- Disappointing customer support
- Complex pricing for the toolset
Other Inventory Management Software
Here are some additional inventory management software options that didn’t make it onto my shortlist, but are still worth checking out:
- Katana
All-in-one manufacturing system
- Flowtrac
Mobile inventory tracking
- inFlow
For tracking product costs and profit
- Linnworks
Automation and workflows
- Fishbowl
For large-scale manufacturing and warehousing
- Agiliron
POS + inventory for mobile businesses
- Finale Inventory
Small business order management
- Marketman
For hotels and restaurants
- Extensiv Order Manager
For dropshippers and outsourced fulfillment
- GOIS Pro
For construction companies
- Cyberstockroom
Drag-and-drop interface
- Ordoro
Automated purchasing
- ArbiMed Inventory
For healthcare providers
- Bellwether Purchasing Software
For high-value products
- Inventory Planner by Sage
For wholesale businesses
- Netstock
For supply chain management
Inventory Management Software Selection Criteria
When selecting the best inventory management software to include in this list, I considered common buyer needs and pain points like inventory tracking accuracy and integration with existing systems. I also used the following framework to keep my evaluation structured and fair:
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these common use cases:
- Track inventory levels
- Manage purchase orders
- Generate sales reports
- Monitor stock locations
- Handle supplier relationships
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Predictive analytics
- Barcode scanning
- Multi-location management
- Real-time data updates
- Integration with ecommerce platforms
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive navigation
- Customizable dashboard
- Minimal learning curve
- Clear visual design
- Responsive interface
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Comprehensive templates
- Access to webinars
- Supportive chatbots
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 availability
- Multichannel support options
- Response time
- Access to a knowledge base
- Personalized assistance
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Feature set relative to cost
- Scalability of pricing plans
- Hidden fees or costs
- Discounts or promotions
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- User satisfaction ratings
- Commonly mentioned pros and cons
- Frequency of updates or improvements
- Testimonials about support quality
- Overall sentiment and trends
Trends In Inventory Management Software
In my research, I sourced countless product updates, press releases, and release logs from different inventory management software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-Driven Insights: AI is being used to predict demand and optimize inventory levels. It’s helping businesses make smarter purchasing decisions by analyzing trends and patterns.
- Blockchain for Transparency: Some vendors are using blockchain to increase transparency and traceability in the supply chain. This technology helps track products from origin to delivery, ensuring authenticity and reducing fraud.
- Augmented Reality (AR) Applications: AR is being used for better warehouse management and inventory visualization. It allows employees to see digital overlays of inventory data in physical spaces, improving picking accuracy and efficiency.
- Sustainability Tracking: With a growing focus on sustainability, some software now includes features to track environmental impact. This helps businesses reduce waste and improve eco-friendliness by monitoring carbon footprints and resource usage.
- Voice-Activated Systems: Voice technology is making its way into warehouse operations, allowing hands-free operation. This trend improves efficiency during tasks like picking and inventory counting.
What is Inventory Management Software?
Inventory management software is a digital solution designed to automate and optimize the tracking and control of a company's inventory. It facilitates the recording of stock levels, manages orders and shipments, and provides valuable data to support decision-making in inventory-related processes.
Through features like real-time tracking of inventory levels, order management, demand forecasting, barcode scanning, and reporting, these tools help businesses optimize working capital, ensure accurate financial reporting, manage cash flow, and mitigate risks associated with inventory.
How to Choose Inventory Management Software
To help you stay focused as you work through your own software selection process, here’s a shortlist of factors to keep in mind:
Factor | What to Consider |
---|---|
Scalability | Will it grow with your business needs? |
Integrations | Does it connect with your existing systems? |
Customizability | Can you tailor it to fit your processes? |
Ease of Use | Is it user-friendly for your team? |
Budget | Does it fit within your financial limitations? |
Security Safeguards | Are your data and transactions secure? |
Support | Is there reliable customer support available? |
Mobile Access | Can you access it on-the-go via mobile devices? |
Features of Inventory Management Software
When selecting an inventory management tool, keep an eye out for the following key features:
- Inventory Tracking: Allows you to monitor stock levels in real time, ensuring you never run out of products.
- Order Management: Helps manage purchase and sales orders efficiently, keeping the supply chain smooth and organized.
- Supplier Management: Provides tools to maintain and optimize supplier relationships, ensuring timely deliveries.
- Sales Reporting: Generates reports that offer insights into sales trends, helping with forecasting and decision-making.
- Barcode Scanning: Simplifies the process of adding and tracking inventory, reducing manual entry errors.
- Integration Capabilities: Connects with other systems like accounting and ecommerce platforms for seamless data flow.
- Predictive Analytics: Uses data to forecast demand and optimize inventory levels, reducing waste and overstock.
- Mobile Access: Allows users to manage inventory on-the-go through mobile devices, increasing flexibility.
- User Permissions: Offers granular control over access levels, ensuring data security within the system.
- Sustainability Tracking: Monitors the environmental impact of inventory, helping businesses meet sustainability goals.
Benefits of Inventory Management Software
Implementing inventory management software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved Accuracy: Reduces manual errors in tracking and ordering stock with features like barcode scanning and real-time updates.
- Cost Savings: Helps optimize inventory levels and reduce waste, saving money on excess stock and storage costs.
- Better Decision-Making: Offers insights into sales trends and demand forecasting through analytics and reporting tools.
- Enhanced Efficiency: Simplifies processes like order management and supplier coordination, allowing your team to focus on other tasks.
- Increased Flexibility: Provides mobile access and integration capabilities, enabling management from anywhere and connection with other systems.
- Stronger Security: Protects data with user permissions and security safeguards, ensuring only authorized personnel can access sensitive information.
- Sustainability Efforts: Tracks environmental impact, helping businesses align with sustainability goals and reduce their carbon footprint.
Cost & Pricing of Inventory Management Software
Selecting inventory management software requires an understanding of the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in inventory management software solutions:
Plan Comparison Table for Inventory Management Software
Plan Type | Average Price | Common Features |
---|---|---|
Free Plan | $0 | Basic inventory tracking, limited users, and basic reporting. |
Personal Plan | $5-$25/user/month | Inventory tracking, purchase order management, and mobile access. |
Business Plan | $30-$75/user/month | Advanced analytics, multi-location support, and integrations. |
Enterprise Plan | $100-$200/user/month | Customizable dashboards, user permissions, and dedicated support. |
Inventory Management Software FAQs
Here are answers to some of the most frequently asked questions about inventory management software and why businesses need it.
What is the difference between inventory management software and warehouse management software?
The differences between WMS and inventory management tools are nuanced, but important.
Inventory management software is primarily concerned with tracking the quantity and cost of inventory items to ensure stock levels are able to meet sales demands. This can include sourcing raw materials and tracking assembly, but it also involves sales forecasting and understanding seasonality and trends.
Warehouse management, on the other hand, is concerned with tracking and managing the operations of the warehouse that typically stores the inventory. It includes fulfillment tasks, like picking and packing, as well as how items are organized and stored.
It’s not uncommon for one software to provide both inventory and warehouse management functionality.
What are the benefits of inventory management software?
Inventory management software helps businesses track their stock. This prevents overselling and allows brands to maintain delivery and shipping guarantees. Effective inventory management also prevents inefficient over-stocking, freeing up budget for other business needs. Inventory software also reduces human error by automating processes and centralizing data.
What are the most popular inventory management systems?
The inventory management needs of businesses vary so widely, but some of the most popular inventory management systems are Fishbowl Inventory, Lightspeed Retail, Netsuite by Oracle, and Cin7 Omni.
For small businesses, ShipStation and Zoho Inventory are popular affordable options.
What are three basic questions of inventory control?
Inventory control often revolves around three primary questions: when to order, where to stock, and how much to order. These questions help ensure you maintain optimal stock levels, minimizing both excess and shortages. Inventory management software assists in answering these questions by providing real-time data and analytics.
What's Next?
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