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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Linnworks is presented as a total commerce solution, and provides multi-channel order management for ecommerce. Linnworks connects, manages and automates commerce operations, powering businesses to sell wherever their customers are and capture every revenue opportunity.
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…
Cin7, headqduartered in Auckland, aims to make complex retail and wholesale simple with all-in-one cloud inventory, POS, EDI and 3PL. Cin7 allows users to manage sales channels, inventory, point of sale and supply chain in one central, cloud-based software. Cin7 offers integrations…
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Microsoft's Dynamics 365 Supply Chain Management allows users to use predictive insights and intelligence from AI and Internet of Things (IoT) across planning, production, inventory, warehouse, and transportation management to maximize operational efficiency, product quality, and…
M2E Cloud – a platform for scaling a business across multiple e-commerce channels with inventory and order management tools. The platform allows automatically link products to eBay, Amazon, Walmart, Shopify & BigCommerce, create listings on multiple marketplaces, and make changes…
Alert Rental Software in Colorado Springs boasts installation and successful operation in hundreds of the world’s best-automated construction, general tool, and event equipment rental companies, writing millions of rental contracts annually. Alert is a rental software provider, doing…
Aravenda is a consignment software and resale inventory management tool integrated with Shopify POS. The software takes resellers inventory online, calculates payouts integrating Shopify POS, and boasts first class website design. As a Shopify partner, Aravenda aims to increase their…
StockIQ is a supply chain planning suite developed for distributors and manufacturers by industry practitioners, with the goal of helping users to improve forecast accuracy, and reduce inventory levels, while providing unmatched service to customers.
ZhenHub aims to enable modern retailers to execute global logistics operations with ONE-CLICK. Manage inventory and orders, track packages and fulfill orders instantly. For eCommerce retailers using Shopify or crowdfunding on Indiegogo or Kickstarter or just simply selling online,…
Almyta Control System is an inventory management software offering from almyta systems. It can be customized for both single and multiple users.
Aralco Systems is an inventory management software offering from Aralco. It includes features such as e-commerce, UDI, and point of sale features.
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.
Leafio AI Retail Platform: Supply Chain Solutions for Retailers LEAFIO AI is a software provider specializing in retail supply chain automation and optimization with a presence in over 20 countries, boasting more than 180 retail companies as customers. LEAFIO helps retailers manage…
A solution for brands and retailers to sell on online marketplaces. GeekSeller is an official Walmart API partner, assisting Walmart US Marketplace, DSV (Drop Ship Vendors), Walmart Mexico, and Walmart Canada, as well as other platforms such as Mercado Libre, Amazon, eBay, Shopify,…
Since 1981, Datascan has operated in the pharmacy software industry. Their software is designed to streamline pharmacy workflows while building profits, efficiency, and patient adherence. The company boasts a boutique style of service that allows its clients to have a voice and helps…
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…
Skubana, now from Extensiv, is billed as enterprise resource planning software built around eCommerce; primarily it offers inventory management and order fulfillment, with analytics built in.
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.…
Unleashed is an inventory management software offering from Unleashed Software in New Zealand. It includes features such as integrated eCommerce accounting.
PTC Servigistics is a service parts optimization solution that optimizes the user's inventory to ensure the right part is in the right place at the right time for the right price.
Katana's Cloud Inventory Platform creates a centralized view of company inventory to maintain optimal stock levels across all of its locations and track products available for sale. Users can manage incoming orders from all sales channels and issue purchase orders directly from…
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.
Crystal, launched in 2020 by co-founders Michael Razny and Joel Steinbaugh, is a cloud-based inventory, point-of-sale, and jewelry store management platform. It aims to displace generic retail point solutions and antiquated jewelry management software owners have struggled with for…
Restaurant365 in Irvine, California offers what they describe as a complete restaurant management solution; it is back office oriented and so includes accounting and payroll, workforce management, scheduling, food costing and inventory controls, as well as analytics and reporting.…
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.