Fewer Losses《11 Best Inventory Management Software》

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Best Inventory Management Software ShipMonk Zoho Inventory Dear Systems Netstock Ordoro SellerCloud Stitch Labs,How To Choose Good Inventory Management Software? What is Inventory Management Software? Benefits of Using Inventory Management Software

Every business requires warehouse management to track its inventory and the outflow of goods. Of course, a small business can easily track goods, but an enormous organization needs CMMS software.

CMMS is short for a computerized maintenance management system. CMMS software centralizes the maintenance information of an organization while facilitating maintenance operations.

It optimizes the entire maintenance process so businesses can save maintenance costs in the long run. However, another aspect of warehouse management is inventory management software.

If you are a business looking to track your goods, inventory management software is what you need. Here is everything you need to know about it to make an informed decision.

Stitch Labs

Stitch Labs is an ideal solution for medium-sized retailers with multiple sales channels. That is because the software will allow you to centralize and automate your operations and inventory.

If you are a fast-growing brand in the retail sector, this is the perfect software for you. It responds quickly to any operational demands, and all your inventory can be controlled centrally.

The software is cloud-based, and it will help retailers scale, maximize profits, and save costs. The best part is that it integrates with many eCommerce platforms out there.

These platforms include eBay, Amazon, Shopify, Bigcommerce, Magento, and many others. It also integrates with various accounting solutions such as Xero and Quickbooks.

The reports are also easy to read and understand. Such reports will allow you to make intelligent business decisions by comparing and evaluating sales data.

Stitch Labs also allows you to understand the channel you are selling from the most. You can then use this data to focus more on that channel to improve your sales even further.

Keep in mind that Stitch Labs is a bit costly. That is because it is priced higher than other software out there and customer support is extra.

Features

1. Order Management and Fulfillment: You can use integrations to keep information in Stitch for order management and fulfillment

2. Dashboards: Clean and straightforward dashboard with eight tabs to help you navigate

3. Reporting and Analytics: Consolidates data from all places to create intelligent reports and analytics

4. Payments: You can easily make payments by opting for appropriate integrations of third-party applications

5. Vendor and Contact Management: Allow you to manage everyone you work with, such as suppliers and customers

Pros

  1. Provides endless integrations
  2. Cloud-based system
  3. User-friendly
  4. Excellent reporting and analytics tools
  5. You can control multiple sales channels

Cons

  1. Does not offer a free trial
  2. Not the best option for small businesses

Pricing

  1. Basic Plan: $799 per month for a maximum of 2,000 orders per month
  2. High-Growth Plan: $959 per month for up to 2,000 orders per month
  3. Premium Plan: You will have to contact the vendor for pricing

Zap Inventory

If you want your inventory management software to have powerful order and stock fulfillment, this is perfect. Zap Inventory helps businesses in managing and simplifying the entire inventory management process.

You can focus on growing your business while Zap Inventory takes care of your multi-channel inventory management. You will be saving time, money, and effort by opting for the software.

The best part is that you can integrate your inventory across many channels. These include Shopify, eBay, Amazon, Etsy, and much more.

You can also integrate your inventory with accounting data through Xero, Quickbooks, and many others. The entire process, from creating sales orders to shipment tracking, is optimized through the software.

It will keep track of each unit and give you daily and weekly reminders of your stock. In the long run, you will effectively manage multiple stocks and warehouses.

Zap Inventory is loaded with features that you will love in no time. Businesses using this solution have never looked back.

Here is everything essential you need to know about the inventory management software:

Features

1. Barcode Scanning: Manage your inventory in real-time with barcode scanning

2. Vendor Management: This allows you to manage the suppliers and vendors you work with

3. Third-Party Integrations: Allows integration with eCommerce and accounting platforms

4. Reporting and Analytics: Generates detailed reports for you to be updated on key insights

5. Expense Tracking: Track all your expenses

Pros

  1. Easy to set up and use
  2. Excellent customer support
  3. Perfect for small to medium-sized businesses
  4. Easy customization and branding for invoices
  5. Offers many third-party and CRM integrations

Cons

  1. It needs a few additional reporting features
  2. It can sometimes take a while to load

Pricing

  1. Lite: $25 per month for up to one user
  2. Accelerator: $67 per month for up to three users
  3. High-Growth: $125 per month for up to eight users

nChannel

nChannel is the best solution for technologists, manufacturers, retailers, and distributors. If you deal with high-volume data transactions or challenging integration requirements, nChannel is for you.

You can automate all your business processes, such as supply chain management, order fulfillment, and many others. You can optimize and automate these processes through 3PL providers, POS systems, ERP, and much more.

nChannel eliminates the need for manual entry and will save you time, effort, and money. In the long run, it will also improve the efficiency of your business so you can benefit from the best.

You can easily import product data from multiple suppliers to clear inaccuracies and inconsistencies. It allows you to publish accurate product data to a proper channel.

You can also pass orders directly to the supplier through the software. After that, the suppliers can also fulfill the orders directly to the customer.

That is why you will spend less time dealing with order fulfillment and management.

Features

1. Order Management: Manage all your orders from one place

2. Inventory Control: Keep a check on your inventory and control it the way you like

3. Dashboard: Clean and simple dashboard that is visually appealing

4. Data Synchronization: Synchronize all your product data in one place

5. Returns Management: Manage all your returns from one place

Pros

  1. Easily transfers data from multiple channels
  2. Perfect solution for multi-channel businesses
  3. It saves time and money
  4. Increases the efficiency of your business
  5. Allows many third-party integrations

Cons

It comes with a learning curve

Pricing

You have to contact the vendor for pricing as they offer custom plans depending on the needs of the business.

Ecomdash

If you are a small to medium-sized business, Ecomdash is the solution for you. It enables businesses to track serialized inventories, manufactured products, bundled products, and much more.

You will quickly fulfill and manage orders from one dashboard across multiple online sales channels in no time. You can track and complete sales on Etsy, eBay, Amazon, and much more.

The best part is the support that Ecomdash provides to all its clients. They provide support and training via phone, live chat, email, and website.

You will quickly find many blogs and video tutorials on their website that will allow you to implement the software. As a new user, you can also schedule a free onboarding session to learn more.

If you have multiple products and categories, you can tag and organize them according to their categories. It will allow you to sort your items so you can manage them in a better way.

Ecomdash offers the best API capabilities and will work with all web browsers. There is also a mobile application available to access your inventory from anywhere you like in no time.

Features

1. Inventory Management: Manage all your inventory of different categories in one place

2. Data Synchronization: Synchronize your data from multiple platforms in one place

3. Multi-Channel Management: Manage multiple channels through Ecomdash

4. Marketplace Integration: Integrate Ecomdash with famous eCommerce marketplaces

5. Email Marketing: Offers email marketing to customers

Pros

  1. Synchronization is optimal and effective.
  2. You can easily manage all your inventory locations
  3. Perfect for businesses with multiple warehouses
  4. Save time and money
  5. Excellent customer support

Cons

You may experience slow loading at times

Pricing

  1. Free trial for fifteen days
  2. $25 per month for 100 sales orders per month
  3. $75 per month for 500 sales orders per month
  4. $175 per month for 2000 sales orders per month
  5. $350 per month for 10,000 sales orders per month
  6. Enterprise options are available upon request

QuickBooks Commerce

QuickBooks Commerce is an ideal solution for small to medium-sized businesses. It has made a name for itself in the market as businesses worldwide use their inventory management software.

In August 2020, TradeGecko was acquired by a new owner and rebranded as QuickBooks Commerce. It offers a customizable experience to all businesses as you can track products across multiple channels.

You can also combine multiple channels into one digital store. It allows you the option to control orders and fulfill them from one place.

Wholesalers and distributors will benefit the most from managing supply chains and sales from the software. You can also manage all your customer relationships through QuickBooks Commerce in no time.

The entire software is cloud-based, which means you don’t have to install or download anything on your PC. All users will effectively make use of the software from everywhere and anywhere.

Here are all the essential features you need to know about QuickBooks Commerce:

Features

1. Intelligence: Offers an intelligent reporting service to identify where you have to become more efficient

2. Barcode Generation and Scanning: Automatically generate barcodes for products

3. Expiry/Batch Tracking: Products about to expire are categorized into batches

4. Stock Control: This allows you to make stock adjustments and manage stock transfers

5. Inventory Management: This allows you to manage your entire inventory from one place efficiently

Pros

  1. B2B platform support
  2. Intelligent reports and insights
  3. Support for each step of the sales journey
  4. Powerful integration options such as Amazon, Quickbooks, Xero, WooCommerce, and many others
  5. Ideal for multiple channel sales orders

Cons

It comes with a learning curve

Pricing

  1. Founder: $39 per month for one user
  2. Lite: $79 per month for two users
  3. Small Businesses: $199 per month
  4. Business: $599 per month
  5. Premium: $799 per month

ShipMonk

ShipMonk is ideal for crowdfunding campaigns, subscription box companies, and eCommerce businesses. Keep in mind it works ideally for a B2C model because of the features of the software.

All small to medium-sized businesses can benefit from ShipMonk. It is the perfect warehouse management and inventory solution you will find out there.

The best part is that ShipMonk offers almost 70 API integrations. That is why you can easily sync the software with the channel of your choice.

Once you choose to sync your sales channel, your order will be stored, picked, packed, and shipped. Such a service will allow you to focus on growing your business in no time.

That is why you will be saving your time, money, and effort in the long run. You can focus on trying to achieve scalable growth while ShipMonk takes care of your inventory management needs.

ShipMonk offers technology-driven inventory fulfillment and management solutions to businesses. It offers these solutions at affordable prices so you can benefit from the best.

Features

1. Data Import: You can synchronize and import all your product data into ShipMonk

2. Customization: Offers customization to users for product labels and packaging

3. Order Tracking: You can easily track all your orders from the software

4. Inventory Optimization: Manages and optimizes your entire inventory

5. Multi-Channel Management: Manage multiple channels through the help of ShipMonk

Pros

  1. Excellent customer support team
  2. Allows you to use your custom labels, packaging, stickers, and much more
  3. Access to many shipping discounts
  4. Offers easy returns management
  5. Affordable plans for every business

Cons

  1. Billing is detailed, which is why you should ensure everything in the bill is accurate.
  2. It comes with a learning curve

Pricing

  1. E-Commerce Fulfillment: Based on 0 to 500 monthly orders, you will be charged a pick fee of $2.50 for the first item. After that, you will be charged an additional $0.50 for each additional item of the same order.
  2. Subscription Box Fulfillment: $2 per box for kitting and box assembly of five items. An additional charge of $0.10 for every additional item you want to include in the box
  3. Special Projects: $45/man-hour
  4. Container Unloading: $300 per 20 inch container or $500 per 40 inch container
  5. Minimum Pick and Pack Fee: $250
  6. Packaging Materials: $0.15 to $2

Zoho Inventory

Zoho Inventory is an ideal solution for wholesalers, eCommerce businesses, retailers, and online sellers. All small to medium-sized businesses in these categories can benefit from Zoho Inventory.

That is because it will allow you to manage your inventory and orders with ease. The software offers multi-channel shipping integrations, selling, and much more.

You can effectively optimize order and inventory management in no time. The entire process from purchasing to payments is streamlined.

Zoho Inventory can also be integrated with many sales channels. These include Etsy, eBay, Amazon, Shopify, and much more.

The sales process is automated as everything from creating sales orders to tracking delivery is done by the software. So, you can easily manage your entire inventory and business from one place.

The reports created by Zoho Inventory are also detailed. That means you will make informed business decisions based on these reports and insights.

Features

1. Serial Number Tracking: Track orders with serial numbers

2. Post-Shipment Update: Receive updates once the product has been shipped

3. Reporting and Analytics: Detailed reports and analytics to make informed decisions

4. Expiry Date Tracking: Any products that are about to expire will be sorted into batches

5. Stock Adjustment: Adjusts all your stock effectively and quickly

Pros

  1. Supports tracking inventory through various warehouses
  2. Strong support for barcoding
  3. Shipping functions are comprehensive
  4. Affordable pricing
  5. Ideal for small to medium-sized businesses

Cons

  1. No forecasting
  2. Only supports FIFO costing

Pricing

  1. Standard Edition: $79 per month per organization
  2. Professional Edition: $129 per month per organization
  3. Premium Edition: $199 per month per organization
  4. Elite Edition: $299 per month per organization

Dear Systems

Dear Systems is a perfect solution for manufacturers, retailers, wholesalers, eCommerce operators, and distributors. It covers the entire business cycle for inventory management so businesses can benefit from it.

You can utilize the software to create, track, and plan each part of the purchasing process. It will remind you to reorder sticks and when there is excess stock so you can take action.

That is why Dear Systems can help you reduce your operational cost in the long run. Using the information from the software, you can make informed decisions for your business.

The software will easily track the cost of your labor, raw materials and will create a multi-layered bill. It will allow you to track your spending to make better decisions regarding the cost of business.

Dear Systems offers integration with many applications. These include ShipStation, QuickBooks, Xero, Magento, eBay, Shopify, and much more.

The best part is that Dear Systems will help you make accounting fast and hassle-free. That is because it will save you a lot of time on accounting and inventory through its powerful features.

Any scaling business will benefit from Dear Systems. It will take care of everything regarding your inventory so you can easily focus on your business.

You can also use Dear Systems to provide your B2B customers with an online portal. The portal is extensive and will allow them to manage and automate their orders.

Such powerful software is perfect for every business out there.

Features

1. Expense Tracking: You can track all your expenses on products through each phase of the production process

2. Email Marketing: This allows you to offer email marketing to all your customers

3. Stock Adjustments: Effectively adjusts your stock depending on your sales

4. Data Synchronization: You can import and synchronize your data for better accessibility and reporting

5. Inventory Management: This allows you to manage your entire inventory from one place

Pros

  1. Access to unlimited document templates
  2. Integrates with the best platforms on the market
  3. Automates business processes
  4. Streamlines the entire inventory management and tracking process
  5. Excellent support team

Cons

  1. It can take a while to setup
  2. It comes with a learning curve

Pricing

  1. Free Trial
  2. Monthly Plan: $199
  3. Annual Plan: $2,189

Netstock

If you are looking for an affordable inventory management solution, Netstock is ideal for you. It is cloud-based and will help you handle suppliers, customers, purchase orders, and much more.

You can track your inventory levels and manage bills of materials. It will allow you to create a plan for your business depending on market trends and customer behavior.

The best part is that you can track orders through the entire production phase. It will automatically calculate lead times during the entire phase and generate stocking policies depending on your business requirements.

You will also receive detailed reporting through Netstock. The intelligent and detailed reports will help you gain insights into your customer’s activities through KPIs and analytics.

As a business, you will have complete control and visibility of your inventory. Any time an item needs critical attention, the dashboard will highlight it for you.

That is why you will easily manage your stock efficiently and order more when required. It will reduce excess stock and minimize depleting stocks to maintain the right balance.

Keep in mind that you are required to have an ERP system in place to use Netstock. Without this system, you can’t use the software as it will not work without this integration.

Netstock also makes use of intelligent data. That means it will provide you efficient forecasts, classify items, and order recommendations.

In the long run, you will make informed and strategic decisions for your business. That is why more and more people are opting for Netstock as inventory management software.

Features

1. Forecasting: Powerful forecasting based on intelligent data

2. Data Visualization: Visualizes all intelligent data so you can easily understand it to make decisions

3. Replenishment Management: It will let you know when you need to replenish your stock

4. Reporting and Analytics: Powerful analytics and reporting capabilities to make informed decisions

5. Inventory Optimization: Optimizes your inventory for you, so you don’t have to

Pros

  1. User-friendly
  2. The layout is simple and intuitive
  3. It gives you a quick overview of your stock position so you can always stay updated.
  4. The dashboard highlights priorities daily.
  5. Takes the guesswork out of order replenishment and management

Cons

Insights can be even more detailed

Pricing

You will have to contact the vendor as they provide pricing plans depending on the business.

Ordoro

Ordoro is ideal for growing businesses that want to operate like big corporations at a lower cost. That is because they will help you cut your cost while optimizing your entire production process.

You can optimize inventory management, label creation, automated dropshipping, and much more. You can easily connect your sales channels with Ordoro to keep inventory organized at all times.

Ordoro also provides its users with powerful shipping features. The best part is that they provide this at affordable rates so that you can benefit the most from it.

Think of Ordoro as the central hub for all your inventory and shipping needs. It will automate your entire fulfillment workflow so you can effectively manage orders across multiple channels.

The analytics of the software are also advanced. That means you will get excellent insights into your business.

You can use those insights to make informed decisions about your business. It will allow you to dig deeper and increase your shipping revenue and efficiency in no time.

You can also add suppliers to your Ordoro account, as it only takes a few seconds. Such a feature will allow you to issue receipts, purchase orders, and much more to your suppliers.

Features

1. Multi-Channel Management: This allows you to manage multiple sales channels from one place

2. Reporting and Analytics: Powerful reporting and analytics with in-depth insights

3. Order Tracking: Will track all your orders so you can get updates in real-time

4. Vendor Portal: This allows you to create a vendor portal for your suppliers

5. Customer Management: Easily manage your customers through Ordoro

Pros

  1. Synchronizes your inventory across all channels
  2. You can compare rates between shippers
  3. You can batch print your packing slips with a custom logo
  4. Create a summary of your unfulfilled orders
  5. Add suppliers to your Ordoro account

Cons

  1. Setting it up comes with a learning curve
  2. Not all features are as seamless as one would like them to be

Pricing

  1. Express: Starts at $59/month
  2. Pro: Starts at $499/month
  3. Enterprise: Starts at $599/month

SellerCloud

Finally, we have SellerCloud. It is ideal for medium to large-sized eCommerce businesses out there.

It will allow businesses to centralize their inventory management, product catalogs, and channel integrations. You can easily meet the demands of omnichannel selling through SellerCloud.

The best part is that SellerCloud offers more than a hundred integrations. These integrations will help you optimize your business to achieve maximum growth.

In the long run, SellerCloud will help your business reach maximum potential. It is a one-stop solution for your eCommerce operations as it will allow you to control your sales and business.

Features    

1. Data Synchronization: Synchronize data from multiple channels on SellerCloud

2. Inventory Management: Manage your entire inventory from one place

3. Forecasting: Intelligent data helps in forecasting and predicting accurately

4. Cost Tracking: Track all your expenses through SellerCloud

5. Barcoding: Generates, tracks, and manages barcodes

Pros

  1. Can easily customize the platform
  2. Provides excellent inventory management and product cataloging
  3. Allows you to manage inventory from multiple warehouses
  4. It helps reach more customers and enhance sales
  5. Provides you the ability to measure business performance through various metrics

Cons

It can sometimes cause lags

How To Choose Good Inventory Management Software?

Choosing inventory management software can be overwhelming with so many options out there. That is why you need to be on the lookout for a few essential features.

Here are the three most important features you should look for when choosing inventory management software:

Tracking Inventory

Tracking inventory is the most crucial feature of inventory management software. As a business, you need to track all materials from each stage of the production process.

You have to track all goods from the raw materials to the finished products. It will allow you to optimize your supply chain and understand what changes you need to make.

All excellent inventory management software will allow you to automate tracking. In that way, you will track your materials in no time as the information will be available in seconds.

Besides that, automated inventory tracking also allows for enhanced engagement with customers. That is because it will enable you to share what’s in stock and offer updates when the goods are shipped.

Analytics

In the digital world, analytics is one of the most important things for a business’s success. That is because it allows an organization to understand its performance and customer habits.

However, the role is not to collect data. Analytics and insights need to be presented in a manner that allows easy understanding.

That is because businesses need to use this information and leverage it to their benefit. So, if they don’t understand it, then the purpose of analytics is defeated.

So, excellent inventory management software will always offer superior analytics and reporting. It will give you the metrics you need and let you make changes to understand these insights in-depth.

Barcoding

Gone are the days where one would manually key SKUs. Thanks to barcoding, organizations can now automatically control and manage their inventory.  

Manual entries have significant room for error, and barcoding puts an end to that. Besides that, it automates all functions that need communication with other parts of the inventory management software.

Barcoding makes inventory operations much more cohesive as your data is collected, organized, and stored digitally. Inventory management software with barcoding will allow you to enhance paperless documentation, stock accuracy, and inventory replenishment.

What Is Inventory Management Software?

In short, the software consists of applications that manage, organize, and track material purchases and product sales. It is essential if you want to develop an optimized process to track and manage your inventory.

Such software becomes much more critical as your business starts to scale. That is because it can become incredibly challenging to track and organize the inventory manually.

The software provides an organization with visibility to its entire stock. It helps you maintain an optimal amount of inventory so you can continue to fulfill orders.

The best part about having inventory management software is its accuracy. You will easily hold stock that is just right for your business; it won’t be too much or too little.

In the long run, it will help you streamline your entire process from production to sales. If you plan on growing as a business, inventory management software is a must.

Without the software, you will never be able to handle your daily operations. That is because you need to update accounting data and manage to reorder.

If you can’t reorder or update data on time, you will lose much-needed business. Keep in mind that most inventory management software is cloud-based, and that is what you need.

Cloud-based inventory management software is incredibly reliable and effective. You can check your inventory from anywhere and manage everything remotely without a hassle.

The key to choosing excellent inventory management software has a fantastic vendor. Such a vendor will maintain a high standard of service so you can get the most out of the software in no time.

Benefits Of Using Inventory Management Software

As an expanding business, your biggest challenge is managing your inventory. Even if you attempt to manage your inventory, it will become impossible as your business grows.

That is why you need inventory management software. Here are the many other benefits of investing in the software:

Accurate Inventory

Did you know that for many businesses, inventory is accurate 63% of the time? The damage an inaccurate order can have is extensive, which makes this a low number.

As a growing business, you need to have a higher accuracy when it comes to your inventory. Thanks to inventory management software, you can enhance your order accuracy in no time.

You will reduce the risk of overselling and ensure that stock is adjusted every time you make a sale. The best example of this is Rinkit.

Rinkit overcame the problem of overselling with inventory management software in no time. It allowed them to scale their business worldwide too.

Fewer Losses

Did you know that lack of effective inventory management costs businesses a loss of $1.1 trillion worldwide? If you want to be cut your losses, you need to opt for inventory management software.

It will allow you to make your business profitable by improving sales. You will be more informed about the supply and demand of the products as well.

In the long run, such inventory metrics will allow you to make profitable business decisions. You will identify opportunities and lower your inventory carrying costs in no time.

Avoid Excess Or Depleted Stock

Excess and depleted stocks can be significant problems for businesses. That is because you need to maintain the right balance to be profitable and enhance sales.

Depleted stock leads to potential sales loss and unhappy customers. On the other hand, excess stock takes up warehouse space, which means higher cost.

Both these levels of stocks will add some cost to your business. That is why inventory management software is much-needed.

The software allows you to maintain optimal amounts of stock. You can identify reorder points for every product to avoid depleted stocks.

Besides that, you can offer sales or offers when stock is in excess. In the long run, it will significantly improve your sales and give you a high ROI.

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