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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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.…
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.
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.
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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…
A CRM designed for the craft industry, usable by breweries, cideries, wineries, and distributors, and designed to help them drive sales growth through relationship management tools and live inventory integration.
6D's Ventas is an integrated sales and distribution platform for telecoms, that combines distributor management, inventory management, point-of-sale, commission management, advanced data visualization and BI, sales force management and knowledge management. The telecom sales and…
For brands & distributors, Boostorder supports their operations with suites of sales & cash flow automation software software solution. Presented as a complete B2B & B2C commerce platform, the suite includes apps for sales reps' productivity, inventory controls, platform and order…
Bright Basics from supply chain software specialist Deposco is an inventory management for SMBs. Streamline warehouse operations for significant growth and savings in fulfillment costs. Bright Basics is designed to help rapidly growing SMB businesses to streamline warehouse operations…
Shypyard is inventory and demand planning software that helps modern, omni-channel brands to improve decision-making with advanced analytics that enables brands to forecast and adjust demand and replenish stock. Shypyard was founded in 2020, and is based across Los Angeles and Taipei.…
Founded and headquartered in Taipei since 2019, rezio is an Asian-based Channel Manager & Tour Booking Software provider designed for the Tourism Industry to help digitalise local businesses and connect them to the world. Created for tour operators and activity providers, especially…
Pulse Commerce is an enterprise cloud platform for order & inventory management providing retailers with visibility and control of inventory, orders and customers. It is used to improve order turnaround, increase customer satisfaction, and optimize inventory control and fulfillment…
RedLine Solutions provides practical inventory control and traceability solutions for produce growers, packers, shippers, and distributors. Their suite of produce traceability and inventory software enables the electronic collection of product movements and transactions. The RedLine…
Medline's inventory management software platforms connect multiple data systems, giving an overview of inventory levels and cost data for every transaction. The solution helps to ensure price alignment between contracts and realize all the savings that have been negotiated. The goal…
The License Manager by WPExperts for WooCommerce makes it simple to sell and manage digital license keys with features like a bulk importer, automatic delivery, automatic stock management, and database encryption, for e-commerce businesses.
MPulse Software headquartered in Eugene is a provider of maintenance management software developed by experts in maintenance, repair, and operations (MRO) and facility management.
Directify is an all-in-one software solution for online sellers that optimizes and automates boring tasks of Inventory, Procurement and Order Management across multiple sales channels (webshops, Amazon, Shopify, Bol.com, unique large customers, etc.), aiming to save users working…
PackageX works at the heart of the latest advancements in machine vision and Artificial Intelligence (AI) to deliver mailroom management and delivery automation solutions. Their products are powered by the cloud and boast users among teams like WeWork, DelVal University, Symphony…
Omnichain is an enterprise focused on customer centric supply chain management solutions that uses blockchain, AI, and machine learning to help consumer brands and retailers drive business growth at scale. They aim to enable real-time transparency, trust and data flow across the…
TYASuite provides a platform for business to systematically manage their business inventory. TYASuite Inventory Management Software allows users to plan, track, and handle inventory with full control and real-time visibility. It features barcoding, catalog management, price management,…
My Office Apps offers a cloud ERP software under the brand name Kechie ERP. Kechie ERP helps streamline business needs by automating and synchronizing inventory management, procurement, sales order management, finance, manufacturing CRM, and warehouse management. The Kechie ERP Software…
Texada SRM is an equipment rental business management solution from Texada Software in Kitchener.
TranZact is a cloud-based software that digitizes the business process for SMEs from customer inquiry to sales, to dispatch. The software offers users the tools to keep an eye on all their conversions and payment notifications as well as track all their purchases and stock movements…
Data Systems International (DSI) in Kansas City offers Cloud Inventory WMS, a warehouse management system designed to maximize efficiency in the warehouse through automation and which can be extended greatly through DSI's Cloud Inventory app store, which features barcoding, consignment…
Nextail Labs in Madrid offers their retail inventory and stock optimization platform, maximizing inventory availability, supporting stocking efficiency (e.g. fewer items out of stock, less overstocking, etc), and supporting retailers by tracking progress towards general retail KPIs.…
NetYield is a complete accounting and inventory management solution for the seafood industry, available for deployment on your server or in the cloud. The product works for small operations as well as enterprises. With over 30 years of seafood industry experience, the vendor says…
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.