Looking for an inventory management system for your business? Read this review to learn about the best Inventory Management Software for all types of businesses:
Businesses use inventory management software to keep track of products available for sale to customers. The inventory management system helps in recording inventory in the warehouse.
Most inventory management systems also integrate with other software, such as accounting and CRM software.
Here, we will review the best inventory management applications for businesses. The review guide contains a review of both paid and free inventory software.
What You Will Learn:
- Inventory Management Software – Review
- FAQs About Inventory Control Software
- List of Best Inventory Management Software
Inventory Management Software – Review
Benefits of Inventory Software
Inventory management software saves time and effort for businesses in managing inventory. Inventory management apps allow businesses to improve their inventory planning and forecasting. This leads to more efficient supply chain operations.
Efficient management of inventory using inventory management software leads to reduced risks of stock-outs and overbuying of goods. This results in lower operational costs and improved profitability for businesses.
Market Trends: The inventory management software market is expected to be over $3 billion. We expect the market to grow at an annual CAGR rate of 5 percent between 2020 and 2026, according to Global Marketing Insights.
The figure below shows an overview of the Inventory Management Software Market :
Expert Advice: Look at the main features of the inventory management app, such as barcode scanning, inventory control forecasting, and reporting. You should consider asking the vendor about customization options if you have complex requirements.
FAQs About Inventory Control Software
Q #1) What is inventory management?
Answer: Inventory management refers to efficiently managing the inventory to avoid stock-outs. This involves ordering, storing, and keeping track of inventories. Inventory management allows companies to identify the optimum amount and the best time to order goods.
Q #2) Which software is best for inventory management?
Answer: The best inventory management software depends on your requirements. Zoho Inventory Management Software is the best for online businesses to keep track of inventory. inFlow Inventory is the best app for traditional businesses of any size.
Q #3) What are the 3 major inventory management techniques?
Answer: The three main inventory management techniques include the push technique, the pull technique, and the just-in-time technique. The push technique involves buying goods based on forecasted demand. Pull strategy involves buying goods based on demand from customers. The just-in-time strategy involves buying goods at the time they are requested.
Q #4) How much does inventory management software cost?
Answer: The cost of inventory management software starts at zero and goes up to $3,000 per month depending on the features.
Q #5) What is an Inventory Management App?
Answer: An inventory management application is used to keep a record of an inventory. The software helps businesses manage, track, and organize products.
Q #6) What are the features of Inventory Management?
Answer: Inventory management applications come with many different features. Some features you can find in an inventory control app include barcode scanning and tagging, inventory reporting, inventory forecasting, inventory alerts, and backups.
Q #7) What are the benefits of using an Inventory Management Application?
Answer: Using the software makes the process of inventory tracking more efficient. This reduces errors in keeping track of the inventory. It saves time for the personnel in counting and tracking inventory items.
List of Best Inventory Management Software
Popular applications for inventory management:
- Zoho Inventory Management Software
- inFlow Inventory
- Asset Panda
- Oracle NetSuite
- Finale Inventory
Comparison Table of Top Inventory Management System
|Tool Name||Best For||Price||Free Trial||Ratings
|Maropost||Inventory Management Automation||Essential: $71/month,|
Essential Plus: $179/month,
Custom Enterprise Plan
|Zoho Inventory Management Software ||Online stores to keep track of inventory, orders and invoices.||Basic: Free|
Standard: $59 per month
Professional: $99 per month
Premium: $159 per month
Elite: $239 per month
|Free trial with limited order tracking for unlimited days.|
|inFlow Inventory||Small, medium, and large businesses to track inventory, sales orders, purchase orders, and more.||Light: $71 per month|
Standard: $179 per month
Plus: $359 per month.
|Sortly||Self-employed individuals and small businesses to keep track of the inventory.||Advanced: $39 per month Ultra: $99 per month.||Free trial with limited order tracking for unlimited days|
|Multiorders||Small and medium sized businesses, especially ecommerce stores.||Pro 500: $49 per month|
Pro 1K: $99 per month
Pro 2K: $149 per month
Pro 5K: $249 per month
|Asset Panda||Medium sized organizations to keep track of inventory||Custom quote||Demo account|
Best for Inventory Management Automation.
Maropost is a fantastic eCommerce software that both retailers and wholesalers can use to automate their inventory management efforts among other crucial things. The platform particularly shines in its ability to manage multiple marketplace stores from a single store.
Simply put, this is a platform you can use to manage inventory, product listings, orders, and purchases across multiple sales channels. Plus, Maropost also arms you with all the features you need to create a custom online store.
- Manage Multiple Marketplace Stores from a Single Control Panel.
- Build Custom Online Stores
- Order Fulfilment
- Multi-Channel Purchasing
- Streamline Customer Management
- Centralized Dashboard to handle multiple sales channels.
- User-friendly interface
- Create SEO-friendly online store
- Streamline product listing details
- Might not be ideal for small businesses.
Verdict: With Maropost, you get an eCommerce solution that can automate inventory management, order management, multi-channel purchasing, and much more across multiple marketplace stores. If you are a retailer or wholesaler with multiple stores to handle, then this platform is for you.
Price: Maropost’s commerce cloud comes with a 14-day free trial and 4 pricing plans. Its essential plan costs $71/month. Its essential plus and professional plans cost $179/month and $224/month respectively. A custom enterprise plan is also available.
#2) Zoho Inventory Management Software
Best for online stores to keep track of inventory, orders, and invoices.
Zoho supports a large range of inventory control features. The software supports item grouping and bundling, serial and batch tracking. You can also track orders through different stages of the customer lifecycle.
The app supports automated inventory tracking through barcode scanning. It also supports SKU generators, smart reporting, and analytics.
- Inventory control
- Warehouse management
- Order fulfillment
- Detailed reports
- Serial and batch tracking
- Automated inventory management saves time and improves the tracking of inventory.
- Supports SKU generator that saves time in tracking goods.
- Improved management decision-making with thoughtful inventory reports.
- Supports multiple warehouses that streamline inventory management.
- Not suitable for large organizations due to limited order tracking.
Verdict: Zoho Inventory management software offers great value for all types of businesses. Self-employed individuals with low orders can use free inventory management software. Small and medium-sized businesses can opt for paid versions to manage a large inventory.
Price: Zoho Inventory Management software is available in four packages. The free version supports limited features. The Standard version costs $59 per month and the Professional version cost $99 per month. It costs $239 per month for the Elite version.
Website: Zoho Inventory Management Software
#3) inFlow Inventory
Best for small, medium, and large businesses to track inventory, sales orders, purchase orders, and more.
inFlow Inventory is a powerful inventory management software. It has a simple and intuitive user interface. The inventory management application supports purchase orders and sales order management.
You can view the order details on your desktop or smartphone. The app supports a B2B portal, allowing business partners to collaborate in improving inventory management. In addition, the API features allow integration with custom business apps.
- Selling and invoicing
- B2B portal
- API integration
- Purchase Order Management
- No credit card is required for the free trial.
- Unlimited integrations in advanced packages improve the functionality of the inventory management app.
- Over 1 million users worldwide use the app for inventory management.
- B2B portal allows streamlined inventory management that prevents stock-outs.
- Lacks automated inventory management features.
Verdict: inFlow inventory offers great value for money. The Standard and Plus packages support unlimited inventory locations.
Price: inFlow inventory is available in three packages. The Light package cost $71 per month, the Standard Package cost $179 per month, and the Plus package cost $359 per month. There is also a 14-day trial feature to test the software features.
Website: inFlow Inventory
Best for self-employed individuals and small businesses to keep track of their inventory.
Sortly allows you to keep track of inventory through an intuitive and user-friendly dashboard. You can access the app using a desktop, tablet, Android, and iOS device.
The inventory management software can help businesses track inventory, expiration dates, warranty, and other details of each product. It also supports multiple user accounts and remote access. The inventory management app provides beautiful and detailed PDF and CSV reports to keep track of the inventory.
- CSV and PDF report.
- Track stock levels and expiratory dates.
- Monitor product warranties.
- Track orders using QR codes and barcodes.
- Supports desktop and mobile devices.
- Supports tracking of product expiry dates making it suitable for FMCG companies.
- Management can review detailed PDF inventory reports.
- Streamline remote inventory management with remote access.
- Unlimited order tracking with a professional package.
- The automated order management feature is lacking.
Verdict: Sortly is a great inventory control application that is suitable for small businesses and self-employed individuals. The packages are more affordable as compared to most other inventory management apps.
Price: Sortly is available in three packages, including Free, Advanced, and Ultra. The free package supports 100 entries but is limited to one custom field.
The Advanced and Ultra packages cost $39 and $99 per month, respectively. The Advanced package is great for small businesses with less than 2000 entries. Medium-sized and large businesses can select the Ultra package that supports unlimited entries.
Best for small and medium-sized businesses, especially eCommerce stores.
Multiorders is versatile inventory management software. The software supports advanced analytics and reports. The app displays order notifications so you never run out of stock.
Businesses can optimize their inventories across different channels using the software. The dashboard provides an overview of the inventory in different locations. It helps improve the inventory management process with simple features.
- Reports and analytics
- Low stock notifications
- Custom notes
- Automatic order tracking
- Simple inventory management features make it easy to use.
- Real-time order notification prevents stock-outs.
- The dashboard provides detailed information about the inventory.
- Advanced inventory management features are lacking.
- Does not support large orders.
Verdict: Multiorders can suit the needs of different types of businesses. Small and large businesses can select a package that best suits their needs. The inventory management app is affordably priced for startups and self-employed individuals.
Price: Multiorders is available in four versions. The price of the app starts at $49 per month and goes up to $249 per month.
#6) Asset Panda
Best for medium-sized organizations to keep track of inventory.
Asset Panda allows you to keep track of your assets through different stages, from purchase to sale. The app supports remote access using Android and iOS devices. It supports enhanced workflows with customized actions for easier asset management.
The inventory management app also allows you to create custom fields. It also supports custom notifications, audit trails, role-based access, and a built-in barcode scanner.
- Contract Management
- Asset Kitting
- Barcode Generation
- Checkout and Returns
- Adaptable inventory management features result in optimized inventory management.
- Built-in bar code readers save time recording inventory data.
- Customized fields help in recording additional inventory details.
- Supports almost all mobile devices for cloud connectivity.
- The pricing policy is not transparent.
Verdict: Asset Panda offers a comprehensive order management solution. The software supports advanced inventory management features. You can use the app to manage orders, contracts, maintenance schedules, and more.
Price: Call for a custom quote.
Website: Asset Panda
Best for medium and large-sized businesses to manage inventory across multiple channels.
Jazva is an all-in-one solution that can help streamline the order management process. The application supports multi-channel listings, real-time inventory management, and carrier-rate shipping. You can optimize prices through a dynamic re-pricing tool. The inventory management application also supports automated reordering and mobile access.
- Carrier rate shipping
- Dynamic Price Management
- Real-time Inventory Tracking
- Automated Reordering
- iOS App Support
- Supports automated order management that improves inventory management.
- Optimum pricing of goods through dynamic re-pricing features.
- Cloud access results in a streamlined inventory management process.
- Maximize team efficiency with multi-channel inventory management.
- The pricing policy is not transparent.
- Android app support is not available.
Verdict: Jazva is advanced inventory management software that supports a lot of different features.
The software supports inventory management, price management, and automated order management. It may not be suitable for large enterprises, but small and medium-sized businesses will find the app more than adequate for their inventory management needs.
Price: Call for a custom quote.
Best for small and large businesses that want advanced customization options.
OpenBoxes is an open-source inventory management application that supports a host of advanced features. The software facilitates stock visibility across different locations and departments. The risk of stockouts can be eliminated using the below reorder and minimum quantity features.
IT supports the First-Expiry-First-Out (FEFO) feature that helps reduce wastage. Moreover, the app supports improved traceability using data standards for product lifecycle management.
- Track Reorder levels
- Monitor loss to expiry
- Planning and forecasting
- Businesses can customize open-source inventory management software.
- Supports a unique inventory management feature based on produce expiry.
- Helps track goods within the product lifecycle.
- Community support through forums and in-app chat.
- Supports only basic inventory management features.
- Price plans are a bit steep for small businesses and startups.
Verdict: OpenBoxes is a good inventory management app that can help eliminate stock-outs and increase stock visibility.
Price: OpenBoxes is available in three packages, including Standard, Business, and Enterprise. The Standard package costs $99 per month that supports basic inventory management tasks.
The version costs $249 per month which supports additional customer support and priority updates. The Enterprise package costs $1999 per month that supports small customizations.
#9) QuickBooks Commerce
Best for self-employed individuals and small businesses.
QuickBooks Commerce (formerly TradeGecko) is a complete inventory management solution for self-employed individuals and small business owners. The software can help in keeping track of the products as they are sold, manufactured, and restocked at multiple warehouse locations.
You can use inventory control software to manage multiple sales channels at each step of the inventory management process.
- Warehouse management
- Advanced B2B features – abandoned cart, custom domains
- Batch and expiry tracking
- Zonal shipping rates
- Intelligent Automation
- Supports B2B inventory management.
- Integration with QuickBooks accounting software results in a streamlined process.
- Allows tracking inventory at multiple locations.
- An intuitive dashboard with charts and graphs helps in easy tracking of inventory.
- Supports a limited number of orders.
- Price is high for small businesses.
Verdict: QuickBooks Commerce does not support large inventory management. The application is suited for small business owners and self-employed individuals.
Price: QuickBooks Commerce is available in four price packages. The basic Founder package costs $39 per month which supports 10 sales orders per month, one user, and a B2B commerce platform. The Lite version costs $79 per month that supports 100 sales orders and two users.
The small business version costs $199 per month that supports up to 1000 monthly sales orders, five users, and two sales channels. Growing businesses can upgrade to the Business package that costs $599 per month and supports up to 250 sales orders, eight users, and three sales channels.
Website: QuickBooks Commerce (TradeGecko)
Suggested Reading =>> Top QuickBooks Alternatives With Features
#10) Oracle NetSuite
Best for medium and large enterprises to manage resources.
Oracle NetSuite is an enterprise cloud enterprise resource planning tool that also supports inventory management. The software features multi-currency pricing management across multiple channels. It also supports CRM, ERP/financials, and eCommerce transaction management.
- Returns management
- Sales Order Management
- Multi-currency price management
- Support Cloud Enterprise Resource Management.
- Customer relationship management helps improve customer service.
- Supports millions of online transaction management, making it suitable for large eCommerce firms.
- Integrated resource management streamlines inventory management.
- Inventory management is not affordable for small and medium-sized companies.
Verdict: Oracle NetSuite is an advanced resource management software. The application is best for large enterprises with millions of monthly orders.
Price: Call for a custom quote.
Website: Oracle NetSuite
#11) Finale Inventory
Best for small and growing businesses to manage inventories.
Finale Inventory Management Application helps in basic inventory management. The online inventory control application allows you to keep track of your inventory while on the go. The user initiative dashboard displays different graphs and charts so that you can get an overview of inventory inflow and outflow.
- Cloud Inventory Management
- 100,000 to 1.5 million order processing
- Multiple users
- Intuitive dashboard
- Displays charts and graphs
- Integration with third-party apps
- Support Multi-Location
- Allows inventory management on the go
- No automated inventory feature.
- The price is a bit steep for advanced packages.
Verdict: Final Inventory is a simple inventory management app that comes with basic inventory management features. The Starter package is affordable but higher-end packages are on the steep side.
Price: Finale Inventory is offered in five packages. The basic Bronze package costs just $99 per month that supports up to 1,000 orders in a month, two integrations, multi-location, and up to 100,000 items. The Silver and Gold packages cost $275 and $499 per month, respectively, that support additional orders and integrations.
Established and growing businesses should select the Platinum package, which costs $649 per month that supports unlimited integrations and up to 20,000 orders per month. Enterprises can order custom packages for processing up to 1.5 million orders per month.
Website: Finale Inventory
Best for small, medium, and large organizations to track and manage inventories across multiple warehouses.
Orderhive is an advanced inventory management application that supports a lot of features. The application boasts multi-channel workflow automation and order management. It helps in the management of product listings to improve the customer experience. It supports multi-warehouse, real-time order allocation, and invoice management.
- Product Listing Management
- Warehouse Management
- Invoice and Payments
- Real-time order allocation
Verdict: Orderhive may not be a cheap inventory management application. But it does provide acceptable value for money. The app can suit the needs of startups, growing, and large enterprises.
Price: Orderhive caters to a large number of businesses. The free version of the software is available to Shopify users and supports basic inventory management features, including unlimited SKUs. The Lite version costs $44.99 per month that has the same feature as the Free version but is available for everyone.
The Starter package, which costs $134.99 per month, is targeted at small businesses. The package supports automation features to automate mundane inventory management tasks.
Established businesses with large orders should select the Growth package which cost $269.99 per month and support advanced features such as API integration. Enterprises can also select a custom package that meets unique workflow requirements.
Best for small and large businesses to manage inventories, purchase orders, and drop shipment orders.
Ordoro can handle complex, large orders, making the app ideal for medium and large-sized businesses. The software supports a lot of advanced features, including order management, kitting, and drop shipment management. Enterprises can request a custom package that includes features such as custom workflows and vendor portals.
- Inventory management
Verdict: Ordoro is a bit expensive software but provides good value for money. Large businesses will particularly benefit from the advanced features of the software.
Price: Ordoro software is available in three packages: Express, Pro, and Enterprise. The Express. The Express package starts at $59 per month that supports automation rules, shipping presents, barcode scanning, and discounted shipping rates.
The Pro version is a bit costly but supports inventory management, dropshipping, vendor order management, and purchase management. Large businesses can select the Enterprise package that supports all the features of other packages, plus custom workflows and integration, supply chain management., dedicated account manager, and vendor portals.
Best for eCommerce, retailers, and small businesses.
Zenventory is an inventory management app that is suitable for small and medium-sized businesses. The software supports mobile and online tools that provide ease of access. Numerous features are found in expensive inventory management apps.
The app has valuable features such as cycle counting, fulfill order calculation, vendor order management, and multi-warehouse support.
- Low Stock Alert
- Multi-Warehouse ready
- Order Management
- Cycle Count
- Item Management
Verdict: Zenventory is simple inventory management software that supports a wide range of features that will meet the needs of both small and medium-sized businesses. The best feature of the app is warehouse support and order management. The inventory management software has an easy-to-use interface and great reporting features.
Price: Zenventory is available in three price tiers. The Lite version cost $99 per month that supports a single warehouse, aisle mapping, barcode scanning, cycle counts, supplier catalogs, and order fulfillment.
The Standard version costs $199 per month that supports additional features such as more product SKUs and warehouses, warehouse transfers, multi-carrier shipping integrations, assemblies, and vendor order management.
The Pro version costs $299 per month and is suitable for medium and large businesses as it supports up to 10,000 SKUs, 10 warehouses, shopping cart integrations, marketplace integrations, accounting integration, and third-party logistics.
Inventory management software has different features that range from simple to advance. The apps are suited for different businesses and also self-employed individuals.
Zenventory is the best inventory management app for eCommerce, retailers, third-party logistics (3PL), and small businesses.
In contrast, Ordoro is suitable for small and medium-sized businesses to manage inventories, purchase orders, and dropshipment orders. QuickBooks Commerce, Zoho Inventory, and Sortly are the best inventory control software for self-employed individuals and small business owners.
Enterprises should select Oracle NetSuite and Asset Panda, which support multi-currency dynamic pricing and multiple warehouse inventory management.
- Time Taken to Research this Article: Preparing and researching the review on the best inventory management application took about 8 hours.
- Total Tools Researched: 40
- Top Tools Shortlisted: 13