Inventory Management Software and Systems
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QuickBooks Desktop Enterprise is a widely-used accounting package designed for small to mid-sized businesses. 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…
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Inventory Pro is an inventory management software offering from Computerized Inventory System Specialists. It includes features such as inventory control and purchasing, barcoding, and reporting.
Advancepro Inventory Management is an inventory management software offering from AdvancePro. It includes features such as apt cloud hosted service and inventory management.
mylivevision is an inventory management software offering from Opsimize. It includes features such as line by line or invoice total analysis for f&b suppliers and full p&l invoice capability.
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Passport Inventory is an inventory management software offering from ASAP Systems. It includes features such as barcode based inventory control and customizable fields and columns to fit user needs.
REACS Inventory Optimization is an inventory management software offering from REACS Inventory Optimization Software. It manages the movement of product, monitors sales activities and inventories at remote inventory points and replenishes in a timley manner.
Stock Count Management is an inventory management software offering from Apprise Consulting. It includes features such as stock count management.
My Warehouse Manager is an inventory management software offering from Key Computer Applications Ltd. It includes features such as multi-location stock management and distribution, pick & pack & manufacturing operations.
Blue Link ERP is an inventory management software offering from Blue Link Associates.
EqMARS is an inventory management software offering. It includes features such as equipment inventory and software inventory.
InventoryBee is an inventory management software offering from The Inventory Bee. It includes features such as provide relevant training in specific areas, customized or general, for a wide variety of industries and consult and solve your problems in a very cost effective way.
SupplyCare Enterprise is an inventory management software offering from Endress+Hauser Consult AG. It includes features such as supply and value chain optimization along with lower inventory management costs by integrating data into existing systems.
DCS Inventory is an inventory management software offering from Dynamic Control Software. It includes features such as multi warehouse support and lot number / serial number tracking.
ForwardOffice WMS is an inventory management software offering from Forward Computers. It includes features such as warehousing for transit, long-term stock, and support for multiple warehouses and locations.
Tofino is an inventory management software offering from Tofino Software Inc. It includes features such as form building and a document library.
ConsignCloud is consignment and resale software. The vendor says their clean, easy-to-use POS makes ringing up customers and accepting inventory a breeze. Users can use ConsignCloud to manage the day-to-day operations of their store through sales, inventory, and customer management…
POSIC is an inventory management software offering from Grensoft. It includes features such as easy one-time-setup procedure and choice of date format.
MobileFrame Asset Management is an inventory management software offering from MobileFrame. It includes features such as manage assets from a single platform and rack customer and employee check ins/outs.
Inventory Management System is an inventory management software offering from Ydeveloper.com.
eTask Inventory Management is an inventory management software offering from Technobay. It includes features such as complete real-time visibility into demand, supply, costs and fulfillment and manage margins with a clear view into inventory costs.
NolaPro is an inventory management software offering from Noguska LLC. It includes features such as order / customer management and accounts receivable / billing.
Clear Spider is an inventory management software offering. It includes features such as customizable, intuitive design and quick implementation.
QR Maintenance uses QR codes and mobile forms to optimize asset management, tracking and maintenance. Whether users need to manage equipment, property, tools, electronic devices or other types of assets, they will be able to create custom forms that fit their purpose. Field service…
Lead Commerce in San Diego, California offers their eponymous platform for inventory, order, and warehouse management.
LowryTrack ACS is asset tracking & inventory management software from Lowry Solutions headquartered in Brighton, Massachusetts, a company specializing in barcode technology and automatic identification / data capture (AIDC).
CYMA Inventory Control is inventory management software offering from CYMA Systems in Houston, optimized for wholesale distributors.
Learn More About Inventory Management Software and Systems
What are Inventory Management Systems?
Inventory management systems, or inventory management software, 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 Software 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
Most inventory management software products include the following features:
- 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 Software 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 software products, 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.
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Pricing Information
Most inventory management software 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.
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Frequently Asked Questions
What is the difference between inventory management system and order management software?
An Inventory management system is often less expensive than order management software. Also, order management software is primarily focused on the purchase to pay workflow.