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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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.
Systum helps you manage inventory, operations, sales and customer service for your entire wholesale and distribution business.
Diebold Nixdorf offers the Vynamic Merchandizer application from the Vynamic Operations software suite, an omnichannel order management solution for retailers featuring inventory level optimization and controls, product availability and cost management, and other features for retailers.…
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LEANAFY, headquartered in Indianapolis, specializes in Warehouse Management Systems using QR Codes and advanced business analytics for B2B.
Horse inventory software helps Shopify stores predict the future demand, as well as reduce stockouts and overstock, and make smarter purchasing decisions more quickly. Horse doesn't do Amazon, eBay or anything other than Shopify. Horse is Shopify exclusive. It aims to take the guesswork…
VistaSuite is a cloud-based and fully mobile Enterprise Resource Planning (ERP) business software solution. It includes capabilities for inventory management, RFQ and quote automation, order processing, logistics tracking, invoicing, MRO and work order, repair order, analytics dashboards,…
ZapInventory is a multi-channel inventory, warehouse, orders, and stock management software which takes care of tedious and time-consuming processes. Users can integrate inventory across marketplaces, retailers, accounting software, and shipping using Amazon, Shopify, Woo-commerce,…
Gicoh secondary sales and distribution management system helps to control financials, sales staff operations, live tracking of Order booker/Salesman and delivery staff, order management from distributor to company and from shop to distribution and improve distributor's performance.…
i.level software ltd is a UK company offering automated stock control and wholesale & retail fashion management. Their software solutions cover wholesale, logistics, concession, Epos and bespoke e-commerce websites and web stores. The company aims to deliver 360 degree software solutions…
Harvest Profit headquartered in Fargo helps farmers make more profitable farm finance and risk management decisions. They offer a unique software package that combines farm P&L tracking, a what/if analysis package, a grain marketing plan builder, and ongoing farm business tutorials.…
Process2Wine is a vinyard and winery management software platform, from the ERTUS Group headquartered in France.
ROKDI is a GST-ready Accounting and Invoicing tool that enables users to generate detailed reports, manage stock, and check the business status anytime with this online as well as offline billing software for any type of business. It has GST compliance and automates business workflows…
PortalTrack RFID Software is a software solution that identifies, counts, tracks, and manages millions of objects every day. IDENTIFY - PortalTrack is used to track, count, and manage objects with a Digital DNA, or smart labels.TRACK - PortalTrack is designed to enhance product visibility…
Nulogy’s Operational Solution (formerly known as PackManager) is a cloud-based software solution designed to meet the complex requirements of packaging and manufacturing operations. The Operational Solution consists of 6 modules that enable external suppliers of manufacturing and…
Fraction ERP is a cloud ERP provider for small to medium sized manufacturing companies, based in the UK. The platform works for make-to-stock and make-to-order operations. The product includes unlimited free support, and is presented as ideal for engineering, component manufacturing,…
EMERGE App in Singapore provides technology to change the way for import and export businesses to manage their workflow process from quotation, sales, purchases, shipment and more effectively and efficiently; cutting costs and driving higher profits. AI-enabled roadmap to help importers…
Kyozou is a software solution for managing the day-to-day of online sales, with integrations to Amazon, eBay, Walmart, Newegg, Shopify, or a Kyozou Webstore. Kyozou provides small to large ecommerce sellers with inventory management, listing management, order and shipping management…
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,…
Pacsoft Views is a retail solution providing inventory management, and business data analytics.
ACTouch is a Cloud-Based ERP Software Designed Specifically For Small Businesses, Providing Inventory Management, Billing & Invoicing, Payment Management, Manufacturing, Online Accounting,Sales and Purchases, Order Management,Budgeting, General Ledger etc.
BooksPOS aims to make complex retail simple with all-in-one cloud inventory, POS, Accounting, and eCommerce. BooksPOS allows users to manage sales channels, inventory, point of sale and supply chain in one central, cloud-based software. BooksPOS also allows users to run franchise…
StackFX ERP is a cloud-based ERP Solution custom-built for the businesses in Middle East. StackFX is an all-in-one solutions and comes with features like Accounting, HR, Inventory management, Sales Management, HR Management, Payroll, CRM, Multiple warehouse management, and Integrated…
INTURN 360 aims to solve for a common problem across industries and companies—slow-moving and excess inventory. With no real-time visibility or existing systems in place to manage growing inventory levels, brands waste valuable time and resources on inefficient, redundant work. The…
Bitclu is an analytics software specially designed for Amazon sellers. The tool provides features such as live graphs to track real-time sales, profit estimation of each product taking into consideration the total cost, commission, handling, shipping, promotion, shipping, and profit.…
i-Supply is a dynamic, cloud-based, multi-site inventory management solution. It provides manufacturers and their suppliers with real-time insight and control over their inventory, leveraging lean principles to eliminate stock-outs, reduce inventory carrying costs, and drive efficiency.…
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.