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

(1-15 of 190) Sorted by Most Reviews

MyLogiwa IMS
MyLogiwa is designed to manage inventory, products, sales orders, and fulfillment in a single web-based service. It comes with a promise to raise productivity for eCommerce operations with a modern design, easy-to-use interface, powerful features and seamless integrations with Shopify, Amazon, and A…
IMS telecom OSS
IMS telecom OSS is an inventory management software offering from VC4. It includes features such as automatic configuration via network management interfaces and automatic planned work and fault impact analysis.
ABM Inventory
ABM Inventory is a SaaS system designed for retail, wholesale sectors. The aim of the system is to provide continuous product availability in required quantity at the right place and in due time; reduce excess inventories (over-stocks), decrease out-of-stock levels and consequently lost sales. Bas…
HotWax Commerce Platform
HotWax Commerce Platform is an ecommerce solution with strong commerce ERP functionality (inventory and order management, order fulfillment, accounting, etc.). It is built on open source projects including Apache OFBiz, Apache SOLR, Ionic Framework and Apache Cordova, Apache Cassandra and Apache Spa…
NumberCruncher
NumberCruncher is an inventory management software offering from NumberCruncher.com, Inc. It includes features such as granular inventory visibility and reducing recall loss with serial and lot.
JDA Inventory Optimization
JDA Inventory Optimization is an inventory management software offering from JDA Software. It contains features to quickly adapt inventory policies and stocking strategies to address changing market conditions, business objectives, and supply chain constraints. Additional capabilties include custome…
TrueCommerce Trading Partner Platform
The TrueCommerce Trading Partner Platform provides a web-based, automated and compliant EDI to manage vendor relationships and purchase partners.
Skubana
Skubana is billed as enterprise resource planning software built around eCommerce; primarily it offers inventory management and order fulfillment, with analytics built in.
Zoho Inventory
Zoho Inventory is a cloud-based inventory management solution designed for small to midsize businesses. It features inventory management modules including reporting and analysis, and lot traceability. It features mobile compatible apps for Android and iOS devices.Zoho Inventory offers additional ca…
Lettuce (Discontinued)
The Lettuce app, developed by the small California company of the same name, is a simple, lightweight inventory management application as of yet still available as a standalone offering (2015). In 2014 Lettuce was acquired by Intuit for integration into Quickbooks Online, which, following the integr…
Multiorders
Multiorders is designed to enable users to integrate all sales channels and manage their orders in one place. This solution integrates with Amazon, eBay, Etsy, Shopify, WooCommerce, BigCommerce, SquareSpace and other sales channels.
Acctivate
Acctivate is an inventory management software offering from Alterity, Inc. meant to integrate with QuickBooks, Intacct, and other platforms. It includes features such as barcoding & mobile, kitting & assemblies.
ParagonERP
ParagonERP is a full-feature, cloud-based enterprise resource planning (ERP) system that offers business a single platform from which to manage their day-to-day business operations. It allows business to operate the way they want to, with no massive upfront costs. With a focus on awesome user experi…
iMagic Inventory Software
iMagic Inventory Software is an inventory management software offering from iMagic Software.
Encore
Encore is an inventory management software offering from Anagram Systems.With Encore, users are provided with a transparent solution to encompass every part of the wholesale distribution business to compare inventory management and request a demo.