As an affiliate partner, we may earn money when you purchase items through our links. Discovering the best inventory management software for small businesses can prove challenging, but with the right inventory system, managing stock can be made easy. In this article, we have put together a comprehensive list of 15 of the best inventory software options available on the market today that will help you manage your small business inventory, reduce costs, and improve customer satisfaction.
What Inventory Management Software Does?
Inventory management software is crucial for many businesses to maintain optimal inventory levels, minimize costs, and enhance customer satisfaction. Here are the top five features of inventory management software:
1. Warehouse Management: Inventory management software helps businesses keep track of their inventory across multiple warehouses and locations.
2. Inventory Data: Real-time data on inventory levels, sales, and shipments provide businesses with the information required to make informed decisions about inventory management.
3. Low Stock Alerts: Automated notifications for low stock levels helps businesses avoid stockouts and enhance order fulfillment rates.
4. Barcode Scanning Capabilities: Inventory management software equipped with barcode scanning capabilities streamline the inventory management process, reducing errors.
5. Advanced Reporting: Inventory management software with advanced reporting features provides insights into inventory turnover rates, order lead times, and other critical metrics.
Why Small Business Owners Need an Inventory Management System?
Small business owners require an inventory management system to keep track of inventory levels accurately, streamline order fulfillment, and optimize the supply chain. Doing so will reduce costs, improve cash flow, and ultimately lead to increased profitability.
15 of the Best Inventory Management Software for Small Businesses
We understand that choosing the right inventory software is highly dependant on a business’s unique requirements, number of products, sales channels, and warehouses, so we have taken piracy consideration and collated 15 of the best small business inventory software options available on the market today. Each has unique features, pricing plans and is suitable for different business needs.
1. Cin7: Offers solutions for all channels across the board that automate end-to-end order management and is suitable for streamlined operations.
2. Zoho Inventory: Provides multi-platform integration, end-to-end tracking, and multiple shipping options, and can integrate with accounting/CRM systems and warehouse management.
3. InFlow Inventory: Simplifies inventory management for businesses globally with barcode scanning, order fulfillment, and real-time inventory tracking. 14-day free trial and no set-up fees.
4. Ordoro: All-in-one platform offering affordable shipping, real-time inventory tracking, and consolidated order management, with flexible pricing plans.
5. Brightpearl: Offers a retail operating system to automate operations, inventory planning, sales analytics, and integrations, with expert support provided. Over 5,000 brands use it to manage supply chain disruptions.
6. Lightspeed Restaurant (Upserve): An all-inclusive management platform for restaurants including those with multiple locations, with solutions for hardware, support, and app updates.
7. Fishbowl: Provides flexible ERP software to manage inventory, warehousing, and manufacturing processes. Offers integrations with popular business tools such as QuickBooks, Salesforce, and Shopify.
8. Quickbooks Intuit: Tracks inventory with real-time updates and reports, syncs easily with popular apps, and provides inventory insights with various reports.
9. Lightspeed Retail: Complete POS system for managing sales channels, inventory, and analytics in one platform, with integration with other business software.
10. Sortly: Inventory management software designed for small businesses, with features such as organizing, managing, reporting, and synchronization of inventory across devices.
11. FreshBooks Accounting Software: Comprehensive accounting and invoicing software for businesses of all sizes, integrating over 100 apps and provides customer support from knowledgeable teams.
12. Veeqo: Free shipping software offering low rates, automation, and inventory tools for pick, pack, and shipping. Provides inventory control, mobile picking, and analytics functionality.
13. Katana: Cloud-based manufacturing software that offers inventory, production, accounting, and real-time data management while integrating with various business tools.
14. ShipBob Merchant Plus: All-in-one cloud-based warehouse inventory management solutions that streamline inventory, order, pick and pack, transportation, reporting, and analytics.
15. Netsuite: Provides real-time visibility of inventory across all locations and sales channels, allowing businesses to reduce costs while enhancing customer satisfaction. It automates inventory tracking, demand-based planning, and minimizes manual processes, challenges, and excess handling.
How Much Does Inventory Management Software Cost for a Small Business?
The total cost of inventory management software for small businesses is influenced by the software’s features and the number of users. Basic software can cost as little as $50 per month, while more advanced options can cost several hundred dollars per month.
Choosing the Right Inventory Tracking Software
Choosing the right inventory tracking software for your small business depends on several unique factors such as the number of products, sales channels, and warehouses. Other crucial factors to consider include the software’s ease of use, cost, and customer support.
Having the right inventory management software can help small businesses overcome inventory management issues, reduce costs, and improve customer satisfaction. The 15 best small business inventory software options we have outlined here offer a range of features and pricing plans to suit different business needs. By integrating these inventory management apps with invoicing software, small businesses can streamline their retail inventory management process and focus on growth.