10 Best Inventory Management Software You Must Know!!
Last month I lost track of 5 items from my inventory, only because my records were incomplete. Most businesses fail to keep track of their inventory and they end up recording more or less amount which impacts the entire record book of the firm. I could have averted this problem by using inventory management software for my business and you can avoid such issues too by doing the same. You may hesitate while spending on such software without knowing about its credibility. But now you have to transfer this tension to us. Shall I share my bank account? (Lame joke, of course) The serious part is that we are going to provide you with a list of the best inventory management software with their prices and features details. We will also guide you in finding the right inventory management tool for your business. So, let’s understand the concept of inventory management and then know about the best inventory management software. What is inventory Management Software? Inventory management software is a tool that is used to track, organize, and maintain the inventory of your business. An inventory management tool allows a user to track inventory with live reports, and insights. A user can create valuable insights and get timely alerts when stock is about to get over. It helps in enhancing the productivity of the business and every concerned member of the team can have a clear idea about the inventory. How to choose the right Inventory Management Software? The market is flooded with different inventory management software but one has to choose the right tool for his business. We need to consider certain factors before selecting inventory management software. Industry You should understand your industry and choose the software accordingly. For example, Clinic Essentials is an inventory management software that is mainly used by medical professionals. Similarly, if you’re involved with the trade of perishable products you need to get different software. Price You must consider this factor before buying inventory management software for your business. You can begin with using free tools and later switch to paid tools. Integrations Your inventory management software must integrate with accounting software and other sales channels. If you buy software that has in-built integration, you’ll not have to spend on indirect integrations. Size Make sure you are considering the expected growth of your business before investing in inventory management software. Spend on a tool that can handle your data in the future as well. Considering these factors you can choose the best inventory management software for your business. Now let’s have a glance at some of the best software that can be bought without much hesitation. Best Inventory Management Software InFlow Inflow is the best inventory management software that has a user-friendly UI and is known for providing a central inventory database and B2B showrooms. This is the perfect software for online sellers, retailers, and B2B wholesalers. The USP of this software is its simplicity. Every team member can easily operate this tool without any special training. They provide a flawless application for both Android and iOS devices. It helps you in B2B portal creation, order histories, vendor payments, kitting, bundling, scanning, and generating barcodes. Orderhive From low-stock alerts to barcode scanning support, you can get everything on Orderhive. This is one of the best inventory management software as this tool is everything you need. The reason why it is preferred by most businesses is its adaptability to all sizes. It is a web-based software that should be used in Chrome or Firefox for a seamless experience. It allows you to create automated purchase orders, eCommerce automation, stock transfer between different warehouses, and much more. Megaventory The name itself suggests that the tool is suitable for big companies. Precisely, if you are looking an inventory management software for a manufacturing company, then Megaventory is the perfect choice for you. It is a cloud-based service that runs perfectly across different devices and doesn’t get interrupted even if you feed a massive amount of data. It helps you create multiple reports, track customer and vendor contact information, get automatic stock alerts, and create packing slips and work orders. Oracle NetSuite This is not just an inventory management software but also a financial platform that can be used to meet different business needs. It is also a cloud-based software and the best part about cloud-based SaaS is that you get the best version as they don’t have version numbers. It offers something more than inventory management services this is why it deserves a trial. It is an easy-to-use tool that offers impeccable customer relationship management features as well. Zoho Inventory You may have found the name of this software in other services like accounts management as well. Zoho team provides multiple services and Zoho Inventory is one of them. This is one of the few inventory management software that is available for free (subject to some conditions). The tool provides online inventory management services, dropshipping handling services, barcode scanning, and much more. The software performs well on multiple devices and even allows you to create automated orders of “out-of-stock” items. You can create reports, add items, and view inventory from any device with login credentials. Pricing Free use available for limited features Paid- Starts at $59 per month Upserve Upserve is a great inventory management software for restaurants. The reason why it is a perfect tool for restaurants is its ability to track minor items as well. It is an app-based as well as cloud-based software that works flawlessly in every face. It also operates in offline mode and can sync replies to the POS systems. It also helps in managing vendors, creating alerts for low-stock items, scanning inventory from mobile apps, and much more. Pricing No free trial available Paid-Starts at $59 per month Lightspeed Lightspeed is a cloud-based as well as web-based inventory management software. Unlike, Upserve, its cloud-based version does not operate on different devices, it only … Read more