Inventory Management Systems

Best Inventory Management Systems include:

OMS Office Master System.

Inventory Management Systems Overview

What are Inventory Management Systems?

Inventory Management Systems provide a central hub for retailers, primarily eCommerce or multichannel selling operations, to manage the flow of goods and eliminate inefficiencies in the movement of inventory between locations. Products in this category generally include modules for order fulfillment, procurement, and shipping in addition to inventory control and management.

Implementing an inventory management system allows companies to better manage their inventory levels, which becomes convoluted when there are multiple locations or bundled/kitted products. The software manages and tracks inventory and can predict demand, which helps prevent overstock or out of stock situations. It can help automate purchasing and shipping. Finally, inventory management systems help with the management of vendors, orders, suppliers, fulfillment, and warehouse locations.

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

Generally, an inventory management system is more affordable than omnichannel order management and retail suites, which also encompass marketing, payment processing, and customer management. Supply chain management (SCM) suites include logistics, product lifecycle management, and enterprise asset management in addition to inventory control and ordering systems.

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 or a complex logistics network. Capabilities of inventory management systems are very similar to warehouse management systems (WMS), though WMS’ are often targeted at distributors while inventory management systems are most often targeted at retailers; however, this is not an absolute distinction.

Inventory Management System Features & Capabilities

A basic Inventory Management System should include:
  • Inventory control - including inventory location tracking, inventory levels and low stock alerts, reordering rules and automatic reordering

  • Bill of materials (BOM) creation and management

  • Barcode scanning capabilities or integrations

  • Tools to optimize inventory stocking levels based on historical sales data

  • Purchase/Sales order management

  • Fulfillment tools and optimization

  • Order and stock history

  • Backorder management

  • Reporting and analytics - including product/channel performance and sales forecasting

Some products may include the following modules or integrate with third party vendors that provide:

  • Shipping and tracking

  • Supplier relationship and supplier performance management

  • Accounting or bookkeeping

  • Customer relationship management (CRM)

  • Enterprise asset tracking

Inventory Management Systems Comparison

Inventory management systems are most useful when they possess all the features and capabilities we’ve outlined. However, to more easily compare Inventory Management Systems consider evaluating different options based on these factors:

Accounting software integration: Inventory management systems provide the most return on investment when you can connect them to your existing accounting software to be able to calculate your company’s cost of goods and valuation of products at any given time. Some tools, like Zoho Books, combine accounting software and inventory management into one platform.

Procurement tools
: The modern warehouse is incredibly complex due to globalized supply chains. Inventory management systems can help you manage procurement by using predictive analytics that help keep warehouses sufficiently stocked. Look for inventory management systems that can forecast demand and safety stock levels. Other reporting tools related to procurement you will want to consider include order recommendations and decision-making suggestions that are based on your inventory history.

Start an Inventory Management System comparison

Pricing Information

Most inventory management products follow a pricing scheme based on the number of shipping orders processed per month. These range from $40 to $80 on the low end to $300+ for the highest shipping volume. There are at least two open source solutions for personal or small business use. Enterprise level users are always advised to work with the vendor for a custom quote.

Inventory Management Products

(1-25 of 190) Sorted by Most Reviews

QuickBooks Desktop Enterprise
355 ratings
82 reviews
Top Rated
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.
12 ratings
9 reviews
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.
28 ratings
8 reviews
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.
Fourth Procurement and Inventory
5 ratings
4 reviews
Fourth Procurement and Inventory is software that ties together procurement, 3-way matching, inventory and recipe control. It’s fully integrated, mobile-friendly and can be accessed with a single login. Using predicted sales functionality and analytics, it lets the user forecast demand more accurate…
3 ratings
3 reviews
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.
5 ratings
3 reviews
TradeGecko is an Order and Supply Chain Management platform with a comprehensive suite of functionalities packaged together in a cloud-based interface.
Stitch Labs
8 ratings
3 reviews
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.
2 ratings
2 reviews
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 connects…
2 ratings
2 reviews
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 that…
DEAR Inventory
4 ratings
2 reviews
Dear Inventory is presented by the vendor as Inventory Management Software for management of all products, customers, suppliers, contacts, purchases and sales in one easy to use system, from DEAR Systems
3 ratings
2 reviews
Cin7 is an inventory management software offering. It includes features such as retail point of sale and ecommerce capabilities.
2 ratings
1 reviews
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. Advanced f…
Solid Commerce
1 ratings
1 reviews
Solid Commerce is an inventory management software offering. It includes features such as the ability to view inventory history and set product condition.
Valogix Inventory Planner
1 ratings
1 reviews
Valogix Inventory Planner is an inventory management software offering from Valogix. It includes features such as forecast, plan, and optimize inventory and determines which items to stock and order.
1 ratings
1 reviews
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 Reporti…
Aralco Inventory Management
1 ratings
1 reviews
Aralco Systems is an inventory management software offering from Aralco. It includes features such as e-commerce, UDI, and point of sale features.
Relex Solutions
1 ratings
1 reviews
Relex Solutions offers retail and supply chain management capabilities, including inventory management, supply chain analytics, promotion management, automatic replenishment, assortment management, and demand forecasting.
2 ratings
1 reviews
Linnworks is an inventory management software offering from Linn-Systems. It includes features such as multi-channel software and order management.
Fishbowl Manufacturing (FBM)
2 ratings
1 reviews
Fishbowl Manufacturing (FBM) is inventory management software targeted by the vendor as a low cost solution for SMB manufacturers, especially when integrated with Xero and Quickbooks as an end-to-end solution.
Almyta Control System
3 ratings
1 reviews
Almyta Control System is an inventory management software offering from almyta systems. It can be customized for both single and multiple users.
inFlow Inventory
2 ratings
1 reviews
inFlow Inventory is an inventory management software offering from Archon Systems.
OMS Office Master System
18 ratings
1 reviews
OMS Office Master System is an inventory management software offering from Master System. It includes features such as oms enterprise software and inventory control.
5 ratings
1 reviews
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.
RF Pathways
RF Pathways is an inventory management software offering from Automation Associates.
Stock Tracker
Stock Tracker is an online ordering and stocking software offering from UK company Defy Logic. It includes features such as stock control and order management and social media set-up.