Best Inventory Management Software for Small Business
The backbone of any inventory management system is inventory management software. There are many options available for you to choose from.
How can you choose the right software for your business?
Software for inventory management is often designed with specific niches. The best software for your company depends on your specific business needs.
Software that is right for you will simplify your daily operations and provide valuable insight. This software will do all this without requiring you to pay extra for features your company doesn’t require.
We will help you choose the right software. We’ll introduce you to the best 8 inventory software and provide a detailed analysis.
FreshBooks is well-known accounting software and system, but they also offer simple inventory tracking to freelancers or small businesses with very basic requirements.
It doesn’t matter if you only sell a few items or if you want to start selling physical products as part of your service business. It takes effort to manage even small quantities of inventory. Particularly if you sell through more than one sales channel.
FreshBooks can be used for inventory tracking, as well as accounting.
FreshBooks seamlessly integrates and 2ship and Barcloud, bringing together all your accounting, inventory, shipping, and asset management needs. FreshBooks can pull data from Squarespace and Shopify to provide an even better inventory management experience.
FreshBooks is the ideal solution for anyone who wants to try inventory tracking software for small businesses. This is also an excellent solution for people who are still unsure if inventory tracking software is right for them.
Also read: 13 Types of Supply Chain Management Tools
2. Zoho Inventory
Zoho Inventory is a popular choice for small businesses that need to sell multi-channel. It integrates with many platforms including Shopify, Amazon, and others. This allows for easy management of inventory and stock levels across all sales channels.
It also includes most of the essential inventory management software features. It is a great choice for small businesses that have simple inventory requirements.
Basic features of inventory management software include:
- Inventory management software: This inventory control software allows multichannel sellers to manage their inventory across all channels. You can also set up automatic reorder points to optimize inventory levels.
- Warehouse Management: Warehouse features let you check stock levels, manage warehouse inventory across 2+ warehouses and fulfill orders more efficiently by delivering customer orders from the closest warehouse to the customer.
- Order Management: Customer orders can be managed easily. This feature automates certain aspects of order fulfillment such as converting purchase orders to invoices.
- Analytics, reporting and analytics: This feature allows data-driven decisions to satisfy customer demand. Zoho has very limited reporting capabilities when compared to other options.
- Barcode scanning capabilities: Barcode scanning helps drive efficiency in perpetual inventory management systems. It allows you to keep track of inventory in real-time.
End-to-end inventory tracking is another notable Zoho Inventory feature. This allows you to track inventory items using features such as serial numbers.
Zoho Inventory may be an affordable inventory management option. However, it is not customizable. The reporting and forecasting capabilities of Zoho Inventory are limited in comparison to other options.
Veeqo, another popular inventory management software for retail businesses or wholesale that have multi-channel selling requirements, is also a popular choice. It is advertised as inventory management and shipping platform.
It is similar to Zoho Inventory. It has a simple, intuitive platform that connects all sales channels into one central place. This makes it easy to keep track of and manage everything. It offers features for order management and inventory control as well as reporting and analytics.
Veeqo’s unique feature is its barcode scanner. This allows for the faster processing of large orders. It speeds up the stock count.
It has an excellent reputation for offering a great shipping experience. The platform integrates with over 15 major shipping carriers like UPS and FedEx. It also provides shipping features such as live tracking and discounted shipping rates.
While the onboarding process can take some time, it is very easy once everything is in place. The software is a great choice if you are looking for something flexible and adaptable, but not if your goal is to quickly get going.
Sortly is great inventory management software for small businesses that are not retail. This software is a great choice for small businesses that need a simple solution to their inventory and asset management problems. People who don’t like reading spreadsheets will appreciate its visual appeal.
The product’s intuitive functionality makes it easy for your team to quickly learn how to track important information about your items. You won’t need to learn a lot about the product. Sortly offers most of the essential inventory management features, including warehouse management, barcode scanning capabilities, and basic reports.
You can scan QR codes with the app and receive stock alerts. This will allow you to track stock levels, return information, and group items.
There are some things to keep in mind when using Sortly. If you are on the ultra plan, it is not possible to integrate with other software and apps. It doesn’t integrate with eCommerce or accounting software. To integrate via API, you will need to contact support, even if your plan is ultra.
Brightpearl, a multi-channel retail management system, and inventory software are designed for wholesalers or retail businesses. This platform allows businesses to streamline their inventory management operations. The more expensive plan includes all of the basic inventory management features. The plan that is cheaper for businesses with fewer than 1500 monthly orders is much less. This is the best retail inventory software for small businesses.
Brightpearl’s ability to handle higher transaction volumes is a great feature. Brightpearl can be a great option for users who want to migrate away from Stitch Labs. Square recently purchased Stitch Labs and will close its doors in Spring 2021.
Brightpearl’s software is always being updated, which is a good thing. However, it often means that you have to fix software bugs.
6. Inflow Inventory
InFlow Inventory software is an affordable choice for small businesses. InFlow integrates order management and inventory software to simplify inventory tracking.
It is also compatible with Veeqo and Zoho Inventory. InFlow Inventory’s built-in B2B portal is a unique feature.
InFlow provides the basics of inventory management software including barcode scanning capabilities, inventory control software, warehouse management software, reporting, and manufacturing inventory.
Zapier allows InFlow Inventory to connect with more than 3,000 apps. Most integrations can only be done through API. For seamless integration between apps and software, APIs might require the assistance of a developer.
InFlow, unlike other software we have reviewed today, isn’t QR code-friendly and doesn’t offer a free option.
Netsuite is owned by Oracle and is the best inventory management tool for large manufacturing companies.
This platform includes basic inventory management features as well as purchasing capabilities that can streamline manufacturing and supply chain processes.
It is highly customizable and offers advanced features. It has many advanced features, including cycle counts, demand planning, and product catalogs. To fully take advantage of the platform’s functionality, developers will likely be required. Although it will take some time to set up the platform’s inventory system it will be worth it.
It is not recommended for high-level retail functionality businesses. This software is better suited for retail businesses.
Cin7 is a combination of inventory management software and point-of-sale software. This makes Cin7 unique. This allows businesses to streamline stock management across all sales channels and prevent stock-out. This is a great option for both physical and online stores.
This platform claims to be a complete solution for all businesses, from retailers and wholesalers to those who have simple manufacturing requirements. For Stitch Labs customers who have been previously served by Brightpearl, Cin7 is another great option.
It has many more features than the standard inventory management software.
- Advanced reporting: Access to more than 100 customizable reports You can also use it to forecast and plan your demand. This will give you the ability to access actionable data that will help you make better inventory decisions.
- Famous for its many integrations (550+): Cin7 offers many integrations across accounting, eCommerce, and many other areas. This makes it easy for your business to grow.
- Affordable enterprise planning (ERP): ERPs typically charge more for extra features. Cin7 took a different approach. These include a lot of functionality built-in at no additional cost.
- Fully integrated point-of-sale system: Cin7’s point-of-sale lets you do more than simply process transactions. You can track inventory and ship orders with their point-of-sale software.
- Mobile point of sale: Cin7’s point-of-sale module is compatible with mobile devices and can take orders even offline.
Choosing the Best Inventory Management Software
The best inventory management software creates the best perpetual inventory systems. There are many options for small business inventory management software today, beyond the simple spreadsheet. It doesn’t matter if you’re new to inventory software, or if it’s your third attempt. Many software providers offer free trials and/or a free plan so you can see if it’s right for your needs.