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

WDS Warehouse Management
WDS Warehouse Management is an inventory management software offering from Wireless Data Systems.
XtreMe eStoreKeeperPRO
XtreMe eStoreKeeperPRO is an inventory management software offering from Pathfinder. It includes features such as well-defined workflows, authorizations & escalation processes and intuitive & transparent business intelligence.
Yellow Dog Inventory
Yellow Dog Inventory is an inventory management software offering from Yellow Dog Software. It includes features such as physical inventories and purchasing, receiving & invoicing.
PlanningEdge, formerly Rockysoft, offers automated inventory planning and management software.
Star EZ Inventory
Star EZ Inventory is an inventory management software offering from Starre Enterprises. It includes features such as unlimited inventory item records and unlimited vendors.
Stock Explorer
Stock Explorer is an inventory management software offering from Saturn Solutions.
VMI is an inventory management software offering from Park City Group Incorporated.
Warehousing/3PL is an inventory management software offering from ScanOnline.
Zenventory is an inventory management software offering from Ubiquia.
StoreHub is a cloud-based retail management system consisting of an iPad Point Of Sale(POS), and intelligent inventory management, CRM, and business analytics features. The vendor’s value proposition is that they have replaced the bulky PC/clunky touchscreen that typically haunts a storefront with a…
Primaseller is a software product company that enables multi-channel commerce for a retailer. According to the vendor:Primaseller’s POS software lets you manage stock at your brick and mortar stores with great ease. You can access and track the inventory across all your multiple stores from a single…
Ramco Logistics Software
Ramco Logistics Software is a unified cloud based software for Third Party Logistics, Freight forwarders and Courier service providers. Ramco’s Logistics offering is built to address the needs of 3PL, Freight Forwarders and Network Service Providers. According to the vendor, Ramco Logistics enables …
French company Lokad offers their eponymous demand forecasting and inventory optimization platform.
BizSlate is a cloud-based business inventory and order management solution that is designed to enable small businesses (SMBs) to compete more effectively, reduce operational costs, and gain greater visibility into their supply chain. According to the vendor, this solution is built for complex produc…
RetailOps is a cloud-based solution that provides eCommerce and Omni-Channel retailers with tools designed to help them grow their business. From inventory-in to order-out, RetailOps puts the tools a growing retailer needs to run their business on one platform. Included are: POM, PIM, DOM, WMS, D…
Adagio Operational Suite
Adagio Operational Suite is an inventory management software offering from Softrak Systems. It includes features such as 6 character part number, user-defined segmentation (maximum 4 segments) to allow powerful reporting, and both standard and user-specified costing.
add*ONE is an inventory management software offering from INFORM. It includes features such as self-adapting forecasts and calculation of cost-effective order proposals.
Advancepro Inventory Management
Advancepro Inventory Management is an inventory management software offering from AdvancePro. It includes features such as apt cloud hosted service and inventory management.
Assetware Tracking
Assetware Tracking is an inventory management software offering from Assetware Technology. It includes features such as asset moves and full physical asset audits.
Blue Link ERP
Blue Link ERP is an inventory management software offering from Blue Link Associates.
Chronos eStockCard
Chronos eStockCard is an inventory management software offering from Chronos Process Integration.
DCS Inventory
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.
Dedico Inventory
Dedico Inventory is an inventory management software offering from Dedico Network Pvt Ltd. It includes features such as inventory control and inventory visibility.
Deskera Inventory
Deskera Inventory is an inventory management software offering from Deskera. It includes features such as items master management and complete visibility of the entire supply chain.
EqMARS is an inventory management software offering. It includes features such as equipment inventory and software inventory.