Inventory Management Software

Get the best inventory management software for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

Popular Products

Clear Spider is designed to support the requirements of controlling inventory whether its yours, its needed for an e-commerce store, its consigned or its at a 3PL. The software is workflow enabled so we can emulate your…
Price Range
$ $ $ · ·
Starting Price
$300/month
Deployment
Hosted (cloud-based)
WISE features comprehensive Inventory Control that affords immediate visibility to all. It is a real time system that can integrate into your existing host systems or stand-alone. Receiving, dynamic put away, let downs…
Price Range
$ $ $ $ $
Platforms
Windows, Web
Deployment
Hosted (cloud-based)
As companies grow they find that the QuickBooks Inventory control capabilities are no longer sufficient for their inventory control needs. They expand beyond multiple locations, the number of products they stock increases…
Price Range
$ $ $ · ·
Starting Price
$4,395 (one time)
Platforms
Windows, Mac
Deployment
Hosted or Local
ASC understands that maintaining control of inventory, space, equipment, manpower, and other resources within your warehouse operation is essential to the survival of your business. ASCTrac WMS was designed as a Tier 1…
A very robust, very scalable and perfectly priced ERP software package that addresses the present and future needs of your growing business.; and Robotic software users that actively and constantly work your Supply Chain and…
Price Range
$ $ $ $ ·
Starting Price
$6,000/user (one time)
Platforms
Mac, Web, Windows
Deployment
Hosted or Local
eTurns TrackStock is simple, cloud-based inventory software that automates replenishment based on need and provides real-time inventory visibility into remote stockrooms. Using barcode scanners, smartphones, IoT weight…
Platforms
Web
Deployment
Hosted (cloud-based)
Goods Order Inventory Management System Pro (GOIS Pro) is an innovative cloud-based inventory management solution, which has been designed to help small and medium retail businesses and organizations with their inventory…
Price Range
$ $ · · ·
Platforms
Web
Deployment
Hosted (cloud-based)
HighJump WMS delivers a powerful, scalable and flexible real-time Warehousing Management System (WMS) for distributors. HighJump WMS has the power to help you: Increase supply chain visibility - HighJump WMS integrates…
Price Range
$ $ $ $ $
Platforms
Web, Windows
Deployment
Hosted (cloud-based)
Looking for a strong inventory management solution? Want a solution that is better than a simple bar code scanner but not as robust as a complete Warehouse Management System? PanatrackerGP is your solution. Dynamics GP is a…
Starting Price
$8,000 (one time)
Platforms
Android, Web, Windows, iOS
Deployment
Hosted (cloud-based)
Wasp Inventory Control is the complete inventory tracking solution for your small business. This product will greatly increase the value of your business by reducing the costs associated with: inventory write-offs…
Price Range
$ $ $ · ·
Starting Price
$795 (one time)
Platforms
Windows
Deployment
Hosted or Local
Guided by the need of today’s users, Epicor ERP is a global enterprise resource planning solution that delivers the choice, flexibility and agility to drive growth and opportunity throughout your business. Track, measure, and…
Price Range
$ $ $ $ ·
Platforms
Windows, Mac, Web
Deployment
Hosted (cloud-based)
If you are looking to improve efficiency in your warehouse but don’t want the overhead and complication of a full warehouse management software suite then our solution is ideal for you. The main tasks performed in the…
Platforms
Web, Windows
Deployment
Hosted (cloud-based)
BSI RFID Inventory is an inventory control solution for RFID-automated tracking. We provide a full inventory control solution with support for numerous inventory functions: Schedule and take ABC Counts or Full Physicals…
Acctivate is a powerful, easy-to-use, and affordable inventory and business management software designed for growing small to mid-sized distributors, wholesalers, and online retailers using QuickBooks. Acctivate offers a…
Price Range
$ $ · · ·
Starting Price
$4,995 (one time)
Platforms
Windows
Deployment
Locally Installed
xTuple’s multi-client approach empowers customers to leverage today’s and tomorrow’s technology, especially employee preferences to BYOD (bring your own device). Users may access xTuple via our 100% JavaScript, HTML5 Web…
Price Range
$ $ $ $ ·
Starting Price
$45/month/user
Platforms
Mac, Web, Windows
Deployment
Hosted or Local
The DSI Inventory Management Solution enables you to perform the following tasks: Manage inventory on-hand, in shipment and on order; Count and transfer inventory; Issue inventory directly to projects; Access product details…
Having the right goods in the right quantity at the right place is critical. Every retailer sweats inventory and FusionWMS is the answer. Fully integrated with FusionPOS and the underlying ERP, Fusion manages receiving…
Platforms
Windows
With the Savant WMS, you can manage and track the movement of inventory from receiving through shipping. The Savant WMS dramatically cuts warehouse costs by eliminating paper work and costly shipping errors, improving staff…
Price Range
$ $ · · ·
Starting Price
$999/user (one time)
Platforms
Web, Windows
Deployment
Hosted or Local
Holistic and centralized business management system that streamlines your internal process and provides you a measurable ROI. myFiO ERP is the most comprehensive ERP solution for an SMB in the market today. Automate Manual…
The ORION WMS is a comprehensive, affordable, full-featured warehouse solution for manufacturers and distributors. In addition to satisfying the general needs of manufacturers and distributors, the ORION WMS can be used at a…
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Inventory Management Software Buyer’s Guide

Accurate, up-to-date inventory software is critical to business success. If you are looking to reduce costly inventory errors, improve your ability to meet customer demands, and lower your operational costs, the right inventory control software program is an indispensable business resource. With so many choices, finding the right program to meet your particular needs can be difficult. Understanding the different features and capabilities available to you is the first step in making sure you make the right decision.

This guide offers information on the following topics:

What Is Inventory Management Software?

Inventory software (also known as inventory management and inventory control software) keeps track of all information about the items that your company builds, buys, stores or sells. Inventory software simplifies the management of pricing products and helps maintain the most effective stock levels. Inventory software lets you know exactly what you have on hand and where to find it. A smart inventory control module will also alert you when it’s most advantageous to re-order stock.

Critical business benefits enabled by inventory include:

  • Reduced stock level requirements and lower warehousing costs based on better understanding of stock movement
  • Decreased expenses related to tasks such as picking, packing, kitting, and shipping of inventory based on more intelligent inventory movement management
  • Higher customer satisfaction via visibility to on-hand stock-levels and improved ability to set delivery expectations
  • Minimization of theft and loss based on improved visibility of stock counts and movement histories that make forensic inventory loss analysis easier to conduct

Features

Functionality Definition
Inventory costing Provides the means of establishing the cost value of inventory for profitability tracking and tax accounting (cost methods include: FIFO, LIFO, average costing, and others)
Location tracking Aids in picking/packing/shipping tasks and helps improve inventory loss prevention
Stock count tracking Provides a record of the on-hand units for each SKU

Traceability Features

Functionality Definition
Bar-coding A scanning technology that allows for greater efficiencies in inventory look-up activities compared to systems that require manual part # entry
Serial number tracking Allows for identification of the particular unit being sold/repaired/built etc
Lot number tracking Allows for tracking of groups of inventory and is often used for management of inventory that cannot be easily tracked as individual units
RFID tracking Radio Frequency Identification. Accurately track items via microchips. RFID readers send radio waves and interpret frequencies into inventory data.

Advanced Features

Functionality Definition
Kitting Allow for multiple items to be combined to form another item
Pricing management Allow for the association of price info with particular SKUs and can be used for more sophisticated pricing tasks such as determining discount eligibility
Bill of materials Lists material quantities and assemblies needed to manufacture an end product. Can be referred to as a “manufacturing recipe”
Inventory audit management Helps reconcile inventory records with actual item stock counts
Color/size matrix Minimizes the number of records required to track different product combinations that vary by color or size
Landed cost tracking Looks at all costs associated with acquiring inventory (including shipping, duties, and related fees) to provide for more accurate per product costing
Unit of measure conversion Handles standard conversions (eg, yards to meters, pounds to kilograms) as well as user-definable ones (pallets to cases) allowing for greater flexibility in item quantity tracking
Catchweight tracking Provides for a means of managing where items are tracked by one unit of measure (for example, packages or cases) but priced on the basis of weight (or another measurement)
Back order tracking Provides the ability to reserve incoming stock to meet the obligations of pending customer orders
Inventory hold management Reserves existing stock to fill customer orders and helps prevent duplicate promising of inventory which can cause customer satisfaction issues and negatively affect customer retention
Replenishment thresholds Provides a means of systematically specifying the stock count level which should signal re-order of the inventory item; can be connected with system alert/notification capabilities to ensure that out-of-stock situations do not occur
Quality metrics Enables track information about the condition of individual inventory items, which can be used in supplier selection and other inventory related decisions

Benefits

  • Managing Your Products for Sales Success. Maintaining the right amount of stock is critical to meeting customer demands. But it’s not as easy as just having extra stock on hand. Over-purchasing stock can tie up valuable cash resources, incur warehousing expenses, and create losses on items with sell-by restrictions. Inventory control software provides comprehensive control of your products, including pricing lists, item counts, and location tracking.
  • Maintain accurate stock counts. No matter what size your company is, you need to accurately track inventory and sales to maximize your profitability. When you automate your inventory you’ll always have an up-to-date item count that allows you to quickly determine which products are selling and which are not. By understanding sales trends, you can accurately plan your purchases to lower costs associated with storing physical items. Stocking the right items at the right time is one of the main factors in ensuring you are meeting customer demands and enhancing your ability to increase revenues.
  • Save time by automating inventory tasks. Inventory control software offers a variety of tools for automating time-intensive tasks related to keeping track of stock. Bar-coding and RFID compatible options are available to allow you to gather individual item information by scanning the item rather than manually keying in data. Additionally, inventory control software can store precise information on item locations, so you always know where to find your products and don’t lose time trying to locate stock.

What Does Your Business Need?

  • New buyers and small businesses: Most basic accounting software will have a straightforward inventory tool, primarily for inventory costing and simple stock count tracking. Most small businesses will look to have inventory as a feature included with an accounting or POS software solution, rather than purchase an expensive stand-alone.
  • Existing users desiring functions beyond basic inventory management: Growing businesses with large enough inventory will look for stand-alone solutions to work alongside existing financial systems they already utilize for purchase orders. Manufacturers will desire a bill of materials that they can replicate for commonly produced goods. Distributors will desire a better track of their assets and an ability to automatically reorder materials in real time as it’s depleted.
  • Large companies: Enterprise-level organizations will typically have inventory included in their ERP software as part of a fully integrated software solution. They may also manage multiple warehouses, in which case a warehouse management software (WMS) may be the better fit for them.

Cost

The cost of inventory management software will depend on the number of users, the deployment method, the number of warehouses, the level of inventory being tracked (total SKUs), as well as the cost of any implementation or training fees.

Generally speaking, the least expensive inventory solutions will be add-ons for a lesser expensive solution such as QuickBooks, with pricing starting at around $500 upfront for purchased solutions or around $40/month for a subscription-based option. Buyers looking at stand-alone inventory systems should expect costs to go up from there depending on the above criteria.

“What do you need? How big is your inventory? How many employees do you have?” If you are bothered by the sheer amount of follow-up questions when searching for pricing, you’re not alone. Don’t worry; the software vendor isn’t trying to determine just how much money he can get out of you. These are critical questions they’ll need to know to give you an honest price quote.

In the world of inventory, there is no one set price for an inventory product. You can imagine that an inventory system that is built with handling a few spare shelves in the back of an ice cream shop is not going to be able to manage the inventory of a company that needs 5 warehouses and has over 250,000 SKUs.

Best Products

While many top inventory management software options exist (as seen by the list of options at the top of this page), here are some select products we’ve dived into further to help better show you the capabilities of specific solutions.

  • Fishbowl Inventory (shown above) is an inventory management product that is best known for its integration with QuickBooks. It’s popular for existing QuickBooks users so they do not need to switch away from an accounting system their staff may be proficient at but lacks in inventory functionality.
  • Clear Spider works for inventory of all types, such as your own, consigned, or at a 3PL. The solution includes a slew of features to handle all aspects of inventory and warehousing alike such as replenishment, return merchandise authorization, pick/pack/ship labels, and EDI analysis.

Using QuickBooks

Inventory Dashboard in QuickBooks Enterprise

Inventory is an available feature in most versions of QuickBooks. It allows you to see what’s in stock and what’s on order. Its main benefits are the ability to view quantities on hand, get real-time inventory valuation, and stay on top of your purchase orders. Quickbooks Enterprise offers more in-depth features such as bin location tracking, barcode scanning, and FIFO inventory. QuickBooks recommends syncing with a handful of 3rd party apps for more advanced inventory tracking.

Common Pain Points

  • Missing functionalities based on your industry. Catchweight inventory is best used when the average weight of a unit may differ from the exact weight on an item by item basis. This makes sense in food distribution, where each case of the food product may weigh differently. A clothing distributor will strongly need a color/size matrix, which will allow them to more easily manage the inventory of one shirt design that can come in multiple colors and sizes. And businesses with high inventory turnover (such as grocery stores) will need to ensure their inventory system can handle the level of goods they have traveling through their location.
  • Manually entering data. Digital technology exists to helps make the lives of inventory managers a little easier. Rather than inputting in new shipments into the database, scanners and RFID trackers are available to be used, and have become much more affordable than years past.
  • An inefficient pick/pack process. Software can help plan routes better so employees know where to go to find what they need in your inventory. From something as small as 4 rows of shelves to a 10,000 sq foot facility, fulfilling orders will be a much smoother process with an efficient picking process.
  • Successful cycle counting. End of year physical inventory counts can drive your business to a halt. Employees are often pulled off the line or asked to put in additional hours to handle it. This particular method of inventory stock verification splits the task over time in order to create greater process efficiency and inventory records accuracy. The business benefits of accurate inventory will be improved efficiency and service:
Operational efficiency improvements Service improvements
less spending on “safety stock” fewer lost sales due to out-of-stock items
reduced warehouse & carrying costs fewer delays due to back-orders
trust in records permits use of automation increased sales confidence during ordering
fewer misplaced items lowers picking costs fewer wrong item shipments
  • Barcoding vs RFID. 73% of buyers prefer barcoding as a tracking method over RFID (7%).
  • Surprising uses of RFID. The world of RFID is constantly changing and evolving, and RFID can be used in far more situations than tracking inventory in a warehouse. So much so that we were able to create a list of unexpected and awesome used of RFID back in 2014, and gain in 2018. What will 2022 hold for RFID?
  • Using BI knowledge to your advantage. Inventory data is as important as financial data, and luckily BI software has evolved to paint a picture in your inventory data to help you make a better business decision. Your inventory data can help you find out what your customers want, what areas need attention, and how much you can expect to sell.