Best Inventory Management Softwares

Best Inventory Management Softwares

Inventory Management is a systematic approach to acquiring, maintaining, and trading inventory, including raw materials and finished goods.

Inventory management in business terms means having the right stock, at the proper levels, in the right spot, at the right time, and at the correct cost and price. 

A portion of supply chain management consists of inventory like unprocessed items, their components, and finalizing goods.

Inventory Management’s primary goal is to ensure good products or supplies to satisfy demand without having overstock or surplus inventory.

For Inventory Management, we have to use the best inventory management software to assist you better for business effectiveness.

Here we have listed some of the benefits of implementing inventory management software.

  • High inventory accuracy.
  • It helps to track stocks, so it reduces the chance of overselling.
  • It helps to reduce cost.
  • Inventory tracking and stock control help to track sales trends.
  • Assists to make more profitable decisions.
  • Improve business negotiations.

What is Inventory Management Software?

The inventory management software automates aspects of inventory and warehouse management.

This software is responsible for tracking inventory levels, order, sales, and deliveries. 

The main motive of Inventory Management Software is to control stocks and distribute them properly.

Inventory management software helps to simplify human work to manage stocks, generate reports, handling orders and productions. For automating these services, inventory software is used.

Here we will discuss some of the best Inventory Management Software.

NetSuite

NetSuite is one of the best tools that your business needs. It is a cloud provider of Enterprise Resource Planning (ERP) and Financial Management Suite.

It provides a comprehensive range of procurement, order processing, and ordering tools that streamline supply chain operations while combining smoothly with financials.

NetSuite provides complete end-to-end insight for real-time demand forecasting, total visibility through the product life cycle and procure-to-pay operation, and native integration into your main back-end processes.

Additionally, it provides native tools and features to track inventory in multiple locations, reorder points, safety stocks, demand planning, count cycle, and distribution requirements planning. 

NetSuite is the best fit for all-sized businesses, particularly for mid-sized businesses and divisions of large enterprises. Here are some of the features NetSuite provides.

  • Multi-location planning
  • View and manage inventory across the organization
  • Auto categorization of items based on volumes/value.
  • Multi-location tracking and bin tracking.
  • Serial tracking

Benefits of NetSuite

Here are some of the exciting benefits of NetSuite.

  • User-friendly appearance
  • Very robust and fully customizable.
  • It builds efficiency in the process across the organization.
  • It improves visibility and cost savings.
  • Accelerated growth and user-driven innovations

Zoho

Zoho is an Indian company specializing in cloud computing, software development, and business analysis tools.

Zoho inventory management handles all your sales and trade activities, controls invoices and bills, and tracks payments.

With vital stock tracking, order fulfillment important, and inventory monitoring tools, you will increase your revenue while keeping track of every unit. It can handle A-Z business management inventory management services. 

Zoho Inventory is a free inventory management app that allows small and growing companies to handle their inventory through various platforms and computers easily. It is popular due to its services and eases to use. 

Here are some of the features of Zoho inventory management.

  • The facility of stock management.
  • Customer and vendor management
  • Order management
  • Provides best integrations with e-commerce, finance, and track shipments
  • Easy customization 

Benefits of Zoho

It is easy to use and affordable for small businesses too.

  • Flexibility and good scalability
  • It helps to increase sales of a company.
  • Manage orders and end-to-end tracking.
  • Multiple shipping integrations help to track all payments and CRM.
  • Warehouse management makes your stock management easy.

Cin7

Cin7 is a truly automated, cloud-based inventory management platform and POS framework that streamlines stock management across various networks.

Cin7 integrates the goods, distribution platforms, stock positions, orders, warehouses, workflows, reports, and other systems into a single integrated solution.

You will delight everybody in your organization in a single connecting point of reality. It gives the operations, financing, warehouse, and e-commerce administrators the tools they need to collaborate more effectively. 

Cin7 syncs its inventory of purchases and requests through physical and online sales channels and automates order processes for increased performance.

Cin7 is used for brands selling or exporting goods to keep prices down, margins and cash flow high, and stock appropriately. 

Here we have listed some of the best features of Cin7.

  • 3PL, Backorder, and Channel management.
  • Data security and synchronization.
  • Cost tracking and CRM
  • Auto alerts/notifications
  • EDI mapping support

Benefits of Cin7

Here are some of the benefits you get using the Cin7 inventory.

  • Streamlines Workflow
  • Automates Inventory Management
  • Improves Stock and Cost Visibility
  • Inventory management has been improved.
  • It improves financial tracking.
  • Allows you to make data-driven decision
  • Allows you to easily access your data.
  • It makes more profitable transactions.

Fishbowl

Fishbowl is the perfect warehouse management and manufacturing solution for small to medium-sized businesses.

It can scan barcodes, add inventory, perform cycle counts, grant units of scale, and construct inventory storage locations.

Fishbowl automates many inventory management tasks. You can quickly scan a barcode to verify inventory information when purchasing, selling, or to accept items.

It improves inventory management efficiency, freeing up the resources to focus on other aspects of your company.

Fishbowl provides two types of products: one for warehouses and manufacturers. It enables you to choose the best-suited features for your company. 

Some of the features of Fishbowl are:

  • Inventory management across different warehouses and locations.
  • Multi-currency capabilities
  • Part tracking (all parts used to make products are tracked)
  • Sales and purchasing modules.
  • Shipping and reporting

Benefits of Fishbowl

Here are some of the advantages of Fishbowl inventory.

  • It is affordable.
  • Cost-saving
  • QuickBook integrations help to manage accounts efficiently.
  • Provides virtual training
  • Scale your business to reach greater height.

Xero

Xero’s inventory management platform easily keeps tabs on your stock quality and value. This tool is best for all small and medium-sized accounting and bookkeeping practices.

Xero’s functionality allows you to store lists of goods you purchase and sell daily as inventory items. If you have these things on hand, you can keep track of the stock and values.

It helps you identify best-selling and most profitable product lines and watch how much you earn. It eventually helps in deciding what to order and how to price it. 

  • “What If” scenario
  • 401 tracking and activity tracking
  • Account payable and receivable
  • Approval process control and workflow
  • Asset accounting and tracking

Benefits of Xero

Here are some of the important benefits of Xero inventory.

  • Easy currency conversions.
  • Easy accessible and user-friendly.
  • Straightforward pricing and easy integration
  • It makes paying bills a lot easier.
  • It provides fixed assets management as a standard feature.

Ordoro

Ordoro is a small to large eCommerce company’s online delivery and inventory tools. Ordoro continues where the shopping cart left off, allowing you to ship orders in half the time.

It can keep track of your inventory and immediately reduce your physical on-hand quantity if you ship an order. It would also notify you when the inventory is running low. It makes inventory tracking a breeze. 

Ordoro supports various dropshipping methods, including the ability to manually or automatically route dropship requests to your vendors, enable drop shippers to fulfill orders themselves through our Vendor Portal, and seamlessly distribute drop shipments their way through a custom API integration. 

Here we have listed some of the best features of Ordoro.

  • Best shipping rates.
  • Business analytics
  • Product knitting/bundling and order splitting
  • Amazon, eBay, Esty integrations
  • Automatic tracking of employees
  • Branded packing slips
  • Unified inventory and product linking

Benefits of Ordoro

Here are the benefits of Ordoro inventory.

  • It allows users to compare rates between shippers.
  • It helps to keep your inventory sync across all sales channel
  • Integrate and view all of your sales and supplier channels in one spot.
  • It uses barcode scanning to reduce fulfillment errors.
  • It manages every aspect of your orders.

inFlow

The inFlow is an inventory monitoring program for the desktop that assists small to medium-sized enterprises in tracking inventory.

Other features include filling consumer orders, reordering stock, producing sales orders and invoices, and making personalized reports. inFlow inventory is the best inventory management software for businesses on a budget.  

InFlow is also incredibly simple to use, with all of its product management functions automatic. It also has a fantastic smartphone app that allows barcode inspection and keeps the sales agents and warehouse manager on the same page regarding stock inventory levels. 

Here we have listed some of the best features of inFlow inventory software.

  • Centralize inventory database.
  • Low stock notifications and alerts.
  • Inventory forecasting
  • Accounting integrations
  • Stock history reporting
  • Asset tracking
  • Data exporting/ importing

Benefits of inFlow

Here are the benefits of inFlow inventory.

  • It has a familiar interface as it is based on Windows and Microsoft SQL.
  • Quick access of Reports, Dashboards, and Setting from the main window.
  • It is easy to use.
  • Helps to generate reports customized to the type of data or output.

Conclusion

To conclude, many Inventory Management Software options are available, each with its own distinct set of features such as object monitoring, warehousing, manufacturing, supply chain, and order fulfillment

As a result, the right inventory software for your company is often determined by the nature of your business and the inventory requirements. Inventory control tools can also help you save money. 

It keeps track of when you need to reorder and usually has predictive reporting to see which items are doing well.

Inventory tools can provide demand forecasts in some situations, allowing you to escape the extra expense of excess inventory. 

Hence, use the best Inventory Management Software for better business growth. Follow us for more information and related blogs.

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