8.9
Editor’s Rating:
Best Overall
Anaplan: Cost Ledger
Anaplan
  • Unified cloud-based software
  • Connected Planning platform
  • Hyperblock modeling and calculation engine
8.2
Editor’s Rating:
Best for Data Visualization
TIBCO Spotfire: Column Editor
TIBCO Spotfire
  • On-Premise or Cloud
  • Enterprise scale analytics
  • Free 30-day trial
8.1
Editor’s Rating:
Best for Full ERP
Odoo: CRM Pipeline
Odoo
  • Full suite of business apps
  • Double entry inventory system
  • Full traceability from customer to supplier

1 Anaplan - Best Overall

Anaplan is a business intelligence tool that helps businesses connect people, data, and plans. This software helps inform more confident decisions that streamline planning processes while enabling collaboration among every facet of your company. Additional features include sales, marketing, and supply chain management.

Best Overall:
Anaplan

Anaplan: Cost Ledger
Anaplan: Labor Plan
Anaplan: Innovation Forecast
What We Like
Unified cloud-based software
Connected Planning platform
Hyperblock™ modeling and calculation engine
What We Don’t Like
Pricing is on the high end
No embedded ETL tools in base plan
Specific pricing details unavailable from developer
Overview
Client OS: Web
Deployment: Cloud Hosted

2 TIBCO Spotfire - Best for Data Visualization

TIBCO Spotfire is an analytics platform for predictive and visual streaming of unified analytics. Interactive real-time and historic data allows responsive views of disparate and multi-layer data sources to understand and predict current and future trends. TIBCO Spotfire is available on Windows, Mac, iOS, and cloud.

Best for Data Visualization:
TIBCO Spotfire

TIBCO Spotfire: Column Editor
TIBCO Spotfire: Chart trends Editor
TIBCO Spotfire: Data Canvas Sidebar
TIBCO Spotfire: Market Share
TIBCO Spotfire: Desktop
What We Like
On-Premise or Cloud
Enterprise scale analytics
Free 30-day trial
What We Don’t Like
Complicated analytics require significant learning
Difficult to customize outside of rigid template design
More expensive compared to other data viz tools
Overview
Price Range: $$
Starting Price: $1,300/user/year
Client OS: Windows, macOS, iOS, Web
Deployment: Cloud or On-Premises

3 Odoo - Best for Full ERP

Odoo, formerly known as OpenERP, is an open-source ERP software that meets the needs of businesses with tools for sales, inventory, manufacturing, CRM, accounting, and more. Save hours of labor with seamless automation of processes in this fully-integrated software. Advanced reporting, full traceability, and a simple user interface makes Odoo the perfect software for inventory optimization.

Best for Full ERP:
Odoo

Odoo: CRM Pipeline
Odoo: Project Tasks
Odoo: Invoicing
What We Like
Full suite of business apps
Double entry inventory system
Full traceability from customer to supplier
What We Don’t Like
May have to build specific modules yourself
No centralized support
Upgrades not free
Overview
Price Range: $$$
Starting Price: $25/user/month
Client OS: Web
Deployment: Cloud or On-Premises

What is Inventory Optimization Software?

Inventory optimization is a multi-echelon supply chain management solution for creating optimal product storage and distribution conditions. This software assists small to medium size distribution centers with supply/demand forecasting, product traceability, and overall warehouse management.

Inventory optimization is beneficial to all sorts of businesses. Anyone dealing with perishable products will particularly benefit from these tools as they can reduce the chances of spoilage before the product reaches the buyer. Whether you’re a manufacturer or retail supplier, this management software makes it easier to control your product stock from the time it arrives at your warehouse until it’s distributed to the consumers.

GMDH Streamline Inventory Optimization
Optimize inventory with GMDH Streamline.

Features of Inventory Optimization Software

  • Inventory Management: Control all information about products your company builds, buys, stores, or sells.
  • Supply Chain Forecasting: Review what is currently in stock to plan for future orders. Schedule product replenishment before your shelves are empty.
  • Traceability: Track inventory along the supply chain using custom barcodes and RFID systems. Scan products in and out to get real-time inventory data.
  • Product Distribution: Handle order management directly from anywhere in your warehouse. Control the delivery of B2B or B2C sales orders.
  • Analytics Reporting: Measure key performance indicators (KPIs) to study the flow of inventory levels at your warehouse or distribution center.
AnyLogistix Inventory
AnyLogistix shows wholesale warehouse operations in real detail.

Benefits of Multi-Echelon Inventory Optimization

Some of the main benefits of inventory optimization:

More Accurate Stock Metrics

Like a warehouse management (WMS) software, inventory optimization makes it easier to track all of your product stock. Traceability methods like barcodes and RFID let you automate adding new stock into your tracking system. Create checkpoints throughout your warehouse to scan inventory and make sure everything is where it’s supposed to be.

Accurate multi-echelon inventory tracking allows you to allocate safety stocks as well. These are the products you keep on-hand in case a shortage or delay occurs elsewhere on the supply chain.

TRXio Inventory Permissions
Adjust inventory with TRXio software.

Real-Time Inventory Level Updates Anywhere

Inventory optimization software is usable on mobile devices like smartphones and tablets. Follow your entire multi-echelon supply chain from anywhere you are using Cloud-based solutions.

If you regularly travel to meet with investors and business partners, you’ve probably dealt with the hassle of printing out spreadsheets and reports in advance. What happens if you arrive and realize you’re missing documents? Don’t let a missing statistic jeopardize your business relationships. With mobile access to inventory levels, you can provide your partners, suppliers, and retailers with digital copies of real-time data.

Faster Stock Replenishing

By optimizing your inventory, you can better forecast stock replenishment. Follow real-time inventory level updates to determine when it’s time to order replenishments. And use forecasting applications to identify emerging market trends.

Knowing when to replenish your stock can give you a big advantage over your competitors. You’ll enjoy shorter lead times by placing your reorders early. And your customers will enjoy higher service levels as their orders are completed faster. Inventory optimization uses forecasting applications and real-time stock levels to provide accurate product predictions.

FIFO/LIFO Compliance Tracking

Certain products like food, beverages, and medications must be distributed according to FIFO rules. This means your warehouse has to make it easy to sort perishables based on their sell-by date. Optimize your inventory policies so you always know which batches are close to expiring and need to be sold next.

How is Inventory Optimization Different from Inventory Management?

While inventory optimization has some overlap with inventory management software, the two have several distinct differences. Inventory management is designed to track information about your products. While this can include some distribution data it’s primarily aimed at pricing. Multi-echelon inventory optimization tracks the products themselves in order to find better ways to store, organize, and distribute stock across the entire supply chain.

Optimity Inventory Planning
Use Optimity to optimize inventory plans.

Pain Points of Inventory Optimization

When optimizing your inventory system, be aware of the following problems:

Unexpected Supply Chain Interruptions

Multi-echelon supply chains have multiple points of vulnerability. Is a manufacturer falling behind on orders? Did unusual weather cause a surplus of orders for normally seasonal products? There are all sorts of reasons your supply chain could be interrupted by outside factors. Inventory optimization solutions make it easy to recover from these unexpected difficulties without draining your safety stock.

For example, imagine a textile manufacturer has a dye error which ruins an entire batch of fabric. You can review your current stock levels to see how long you can wait for a new batch before having to access your safety stock.

FlowTrac Pick Orders
FlowTrac tracks optimized pick orders.

Overstock and Product Shortages

Predicting customer patterns isn’t easy, even with forecasting tools. Inventory optimization software can give you real-time updates on which products are coming in and how they’re being distributed. By adding this daily data into your forecasting you can get more accurate metrics and predict upcoming buyer trends. Then you can plan ahead to avoid getting stuck with unreasonable overstock. Or start replenishing popular products before your competition gets the chance.

Communication Failures

Related to supply chain interruptions, just because your distribution center is optimized doesn’t mean your suppliers and buyers are. You could have every shelf perfectly stocked only to receive a surprise shipment from a supplier who doesn’t know you’re at capacity. Effective communication with your multi-echelon supply chain partners can prevent these costly mistakes.

Managing Recalls and Returns

Product recalls can be costly for everyone involved. While some defective products can be immediately destroyed others have to be returned to the manufacturer for testing. As the distributor, you may be responsible for taking in and storing recalled goods. Lower your losses by optimizing your warehouse to manage recalled stock.

Fishbowl Inventory
Use Fishbowl Inventory to compare purchase and sales orders.

All Products

No products found
Anaplan Screenshot

Anaplan

★★★★★
★★★★★
(3)
Anaplan Connected Planning platform helps companies improve business performance in real-time. The cloud-based platform connects real-time data, people, and plans across your business. Modules offer functionality in sales, supply chain planning, marketing, IT, and workforce management. Large and fast-growing organizations use Anaplan’s planning platform in every business function to make informed decisions and drive faster, more effective planning processes. The powerful in-memory engine, Hyperblock, supports detailed and complex planning models.
Client OS
Web
Deployment
Cloud Hosted
TIBCO Spotfire Screenshot
TIBCO Spotfire is a business intelligence and data analytics software. The platform’s big data, content, predictive analytics features, and advanced collaboration tools make it a decent fit solution for medium to large enterprises. Spotfire also delivers machine learning capabilities and data discovery tools.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$1,300/user/year
Client OS
Windows, macOS, iOS, Web
Deployment
Cloud or On-Premises
Odoo Screenshot

Odoo

★★★★★
★★★★★
(21)
Odoo is an open-source ERP software that integrates CRM, manufacturing, eCommerce, and more. Odoo’s accounting module offers functionality in accounts payables and receivables, bank synchronization, and reporting. You can extend the accounting app’s functionality with the tax report module.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$25/user/month
Client OS
Web
Deployment
Cloud or On-Premises
NetSuite ERP Screenshot

NetSuite ERP

★★★★★
★★★★★
(25)
Oracle’s NetSuite is well-known in the ERP world for its customization and scalability. It’s a multi-tenant ERP software supporting finance, operations, sales, service, and HR needs.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$99/user/month
Client OS
Web
Deployment
Cloud Hosted
Fishbowl Inventory Screenshot

Fishbowl Inventory

★★★★★
★★★★★
(23)
Fishbowl Inventory is an out-of-the-box software which caters to a lot of different industries in need of inventory management tools.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$4,395 (perpetual license)
Client OS
Windows, macOS
Deployment
Cloud or On-Premises
FlowTrac Screenshot
Flowtrac is designed for businesses of all sizes, from 5 to 5,000 employees. It has many inventory management features to track your products, assets, labor and processes efficiently.
Client OS
iOS, Android, Web
Deployment
Cloud or On-Premises
Logiwa WMS Screenshot

Logiwa WMS

★★★★★
★★★★★
(4)
Logiwa is a fully integrated WMS and order fulfillment software that provides DTC/B2C and B2B warehouse management.
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
ASCTrac ERP Supply Chain Software and WMS Screenshot

ASCTrac ERP Supply Chain Software and WMS

★★★★★
★★★★★
(1)
ASCTrac® Supply Chain solution, with built-in Best-of-Breed WMS, is the innovative end-to-end Supply Chain software from ASC Software that combines power, convenience, and control in your enterprise distribution and manufacturing operations for 100% perfect orders from start to success. With over 30 years of supply chain experience, ASC has the proven products and skills to help you succeed. Simply put, that is what ASCTrac was designed to do. Your mission is critical, and ASC Software realizes
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Windows, iOS, Android
Deployment
Cloud or On-Premises
DiOMS Screenshot

DiOMS

★★★★★
★★★★★
(1)
Maximize inventory control with DiCentral’s order inventory management system. Through the synchronization of multi- order types and inventory status, DiOMS matches customer demand to supply for accurate order management. DiOMS provides end-to-end visibility in inventory throughout multiple sales channels. With DiOMS, all levels of inventory are available, including items and quantities demanded, available, allocated, and sold. Inventory status can be updated after each order to prevent
Client OS
Windows
Deployment
On-Premises
StockTrim Screenshot

StockTrim

★★★★★
★★★★★
(1)
StockTrim is an inventory planning and demand forecasting software. Its machine learning algorithm adjusts demand models in real-time, providing intuitive order plans and detailed demand analysis. The software helps predict demand for new products and automate purchase orders based on these predictions. Additionally, it integrates with popular inventory management, accounting, POS, and eCommerce platforms.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$99/month
Client OS
Web
Deployment
Cloud Hosted
GOIS Pro Screenshot

GOIS Pro

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 recording, tracking and management needs. This ‘all-in-one’ inventory management solution leverages the modern IT support to automate and simplify all you inventory management tasks, which need quality time and efforts. You can rely upon GOIS Pro for 100% accuracy and security
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
Epicor Prophet 21 Screenshot

Epicor Prophet 21

★★★★★
★★★★★
(15)
Epicor Prophet 21 Cloud is an ERP software for wholesale trade and distribution companies. It’s powered by Microsoft Azure, offering a device-independent system that enhances mobility and usability. The software’s core features include BI tools, accounting, CRM, supply chain management, and more. It combines distribution expertise with a modern technology stack, providing flexibility and extensive customization options.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Windows, macOS
Deployment
Cloud or On-Premises
TRXio Screenshot

TRXio

★★★★★
★★★★★
(2)
TRXio is an inventory management software. Key features include real-time inventory control and tracking, product shipment details, in-house location levels, and warranty management. TRXio offers operational trend insights and reporting tools based on historical data and predictive analytics. The platform allows companies to customize specific metrics, KPIs, and data points for their inventory management needs.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$159/user/month
Client OS
Web
Deployment
Cloud Hosted
Omnna Screenshot

Omnna

★★★★★
★★★★★
(1)
Omnna is a cloud-based platform that allows businesses of all sizes to manage processes for the supply chain lifecycle, point of sale, warehousing and inventory, customer relationship management and more. Omnna’s complete warehouse management solution replaces multiple disparate legacy systems and brings enterprise-grade functionality to the small to mid-size market. Omnna provides a role-based solution that gives employees the accessibility they need to optimize their individual business
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$1,000/month
Client OS
Web
Deployment
Cloud Hosted
EazyStock Screenshot

EazyStock

★★★★★
★★★★★
(2)
EazyStock is a cloud-based inventory optimization solution for wholesalers, distributors, manufacturers and retailers. Integrating with your existing ERP, EazyStock automates your inventory management to reduce excess inventory, increase your service levels, decrease the amount of time spent on manual inventory management and overall save both time and money. EazyStock will help you calculate optimal safety stock levels, order levels and order quantities as well as: Automate your forecasts;
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$750/month
Client OS
Web
Deployment
Cloud Hosted
Optimity Screenshot
Optimity is a supply chain planning software for manufacturing and distribution companies. It provides a combination of statistical forecasting techniques, intuitive collaboration tools, and insightful analytics. Key features include advanced promotion management, predictive analytics, and customizable dashboards for in-depth analysis.
Client OS
Windows, Web
Deployment
Cloud or On-Premises
AnyLogistix Screenshot

AnyLogistix

★★★★★
★★★★★
(1)
AnyLogistix (ALX) is a supply chain management software. This solution is notable for including a supply chain digital twin, a custom simulation model to predict network behavior. Use the model to generate forecasts and test action plans before applying them to your real supply chain. Supply chain digital twin; IBM ILOG CPLEX analytics solver; Multi-echelon greenfield analysis (GFA); Risk analysis; Transportation optimization; and Safety stock estimation and inventory optimization. There are two
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$18,000/year
Client OS
Web
Deployment
Cloud Hosted
Zangerine Screenshot

Zangerine

Zangerine is a cloud-based distribution management solution for small to midsize e-commerce wholesale and distributor businesses. Zangerine provides powerful inventory management features, plus all the eCommerce tools you need. Zangerine lets users manage a database of products over however many warehouse locations your business may have. Users can designate a variety of product attributes such as weight, sizes, colors, materials and more. Zangerine can send purchasing recommendations when stock
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$399/month
Client OS
Web
Deployment
Cloud Hosted
Kechie ERP Screenshot
Kechie ERP by Mr Office Apps is a fully integrated cloud-based ERP solution with flexible configuration options. A variety of integrated modules make this solution fully scalable. This software helps streamline business needs by automating and synchronizing logistics, procurement, CRM, and more.
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$149/user/month
Client OS
Web
Deployment
Cloud Hosted
Intuendi Screenshot

Intuendi

★★★★★
★★★★★
(2)
Intuendi.com is a Demand Forecasting and Investment Optimization cloud platform which helps companies to reduce stockouts and excess inventory. The main advantage coming from intuendi.com is a higher return of inventory investments: Intuendi identifies trends and patterns in customers’ demand for finished goods, then finds the factors that drive the sales to estimate in time the future inventory needs. Intuendi is best used by e-Commerce, retailers, fashion and apparel, wine, food, SMEs, luxury
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$1,500/month
Client OS
Web
Deployment
Cloud Hosted

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