Inventory Management165Inventory management systems are built to handle every stage of the inventory process lifecycle. There are several essential components to most inventory management solutions, starting with order entry capabilities to handle purchase automation. Another standard feature: inventory control and warehouse management to track products and manage workflows through warehouse management. Inventory management systems also typically include distribution capabilities for supply chain management. Fully-featured inventory management systems may also include integrations with customer lifecycle service management, enterprise resource planning software, and robust financial analysis and insights.QuickBooks Desktop Enterprise1 Manufacturing (FBM)9 Inventory10 Office Master System11 Commerce13 Inventory Planner14 Inventory Management16 Labs18 Inventory20 Solutions21 Pathways25

Inventory Management Systems

Inventory Management Software Overview

What is Inventory Management Software?

Inventory Management Software provides a central hub for retailers, primarily eCommerce or multichannel selling operations, to manage the flow of goods. It may encompass order and fulfillment management, warehouse management and stock checking, procurement (or e-procurement) and supplier management, as well as analytics and integrations with other business critical systems (e.g. accounting, ERP, eCommerce platforms).

Inventory Management vs. Order Management, Supply Chain Management, & Warehouse Management Systems

Generally inventory management software is acquired at a lower cost and is more parsimonious than omnichannel order management & retail suites. Inventory control and ordering systems are embedded in supply chain management (SCM) suites, though not all businesses need such extensive solutions as those offered in SCMs. Software billed as inventory management is a wiser choice for smaller businesses, compared to SCM suites which are designed to manage supply across many warehouses and outlets across a vast or complex logistics network. Capabilities of inventory management systems are very similar to warehouse management systems (WMS), though these are often targeted at distributors while inventory management software is most often targeted at retailers; however, this is not an absolute distinction.

Inventory Management Software Features & Capabilities

  • Inventory Control: As these platforms are targeted at retailers, their central feature is to automate a stock counting and tracking across (potentially) multiple warehouses as items are sold and resupplied. Also, the software should supply barcode scanning internally or integrate with barcode scanning technology.
  • Inventory Optimization: The software should automate and provide decision support for optimal levels of stocked items based on sales & order analytics. This practice helps with cost control and should suppress or eliminate oversupply of sluggish or immovable stocked products.
  • Purchase / Sales Order Management: Orders can be handled within the inventory management platform via inbuilt purchase order and sales order management systems and interfaces.
  • Fulfillment: Platforms may centralize, automate, and optimize order fulfillment by consolidating sales information across channels and warehouses to ensure optimal shipping and delivery of products, balancing consideration for shipping costs and customer satisfaction.
  • Shipping & Tracking: The system may provide shipping status and logistical oversight and controls, or integrate with 3PL and shipping software systems and modules.
  • Supplier Relationship / Supplier Performance Management, & Scoring: Analyzing and scoring supplier performance is a key feature of top inventory management software.
  • Order & Stock History: Inventory management systems should also retain and provide access to rich historical data about orders and stocks.
  • Backorder Management: When items are out of stock, the system can reduce the cost of resupply by intelligently facilitating and consolidating purchase orders.
  • Accounting & CRM, inbuilt or integration: Some inventory management software offers simple inbuilt accounting and CRM capabilities, though most often the system must integrate compatibly with outside accounting and customer relationship management systems.
  • Reporting & Analytics: Given the wealth of data generated, transmitted through, and stored in the system, top inventory management software provides analytics and reporting of product and channel performance (including drill-down analytics on product features), cost of goods sold (COGS), profit analysis, and sales forecasting. This can help discover top customers or top sales performers, and other meaningful pieces of information for multi-channel selling optimization.

Inventory Management Products

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QuickBooks Desktop Enterprise

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Top Rated
320 Ratings

QuickBooks Desktop Enterprise is a widely-used accounting package designed for smaller organizations. It is the top of the QuickBooks line. Pricing starts at $3,000 for five users, and goes up depending on the number of additional users. They also offer an Advanced Inventory module for $999 / year.


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28 Ratings

ShipStation is an order fulfillment, inventory management, and shipping hub for eCommerce businesses. It allows users to import, manage, and ship orders from the ShipStation hub, which can coordinate multiple online sales channels and multiple carriers. ShipStation also offers branded package tra...

10 Ratings

Webgility is a multichannel eCommerce software which provides automated accounting and inventory management. It is optimized for QuickBooks Desktop and NetSuite users who sell on multiple channels.

21 Ratings

Odoo, from the Belgium-headquartered multinational company of the same name, is a suite of business applications for managing the sales pipeline. It also comprises a PoS and inventory management modules, scaling to a warehouse or retail management solution.

3 Ratings

ecomdash is a cloud-based inventory management solution that aims help online retailers save time and money, improve profit margins and optimize inventory control. This solution includes several web-based tools that are designed to make managing an e-commerce business simple and efficient.

2 Ratings

SalesBinder is an online inventory management system which also combines an organization’s customers, sales leads, purchase orders, estimates, and invoices into one globally accessible place. This enables users to have real-time access to their inventory and all other business activities. Advance...

7 Ratings

Stitch Labs is an inventory management software offering from Stitch Labs. It includes features such as multichannel selling and inventory control, with order and fulfillment management optimal for retail.

5 Ratings

Thrive is an inventory management software offering from Thrive Technologies. It is built to help distribution and retail companies needing to improve demand forecasting, and it helps inventory replenishment functionality in ERP systems.

1 Ratings

CommerceHub is an omnichannel retail platform for suppliers, manufacturers, and retailers. It has three pieces: ProductStream, DemandStream, and OrderStream. ProductStream connects retailers with suppliers and product data, allowing users to manage their online product catalog. DemandStream conne...

1 Ratings

Orderwave is a web-based hosted application that is designed to automate and streamline operations for e-commerce, catalog, and direct marketing sales channels. Key features include: Subscription and Continuity ManagementInventory and Warehouse ManagementPayment ProcessingShopping CartRobust Repo...

2 Ratings

SkuVault is a cloud-based inventory and warehouse management system offering unlimited SKUs, orders and warehouses. According to the vendor, this solution’s real-time quantity syncs prevent out of stocks, barcoding and QC reduce picking and shipping errors, and the smart re-order reports ensure t...

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RF Pathways is an inventory management software offering from Automation Associates.