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Best-in-Class Software Reviews Research
8.9
Editor’s Rating:
Best Overall
Anaplan
  • Unified cloud-based software
  • Connected Planning platform
  • Hyperblock modeling and calculation engine
8.2
Editor’s Rating:
Best for Data Visualization
TIBCO Spotfire
  • On-Premise or Cloud
  • Enterprise scale analytics
  • Free 30-day trial
8.1
Editor’s Rating:
Best for Full ERP
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
★★★★★
★★★★★
(3)

Cost Ledger
Labor Plan
Innovation Forecast
What We Like
Unified cloud-based software
Connected Planning platform
Hyperblock™ modeling and calculation engine
Overview
Client OS: Web

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

Market Share
Desktop
What We Like
On-Premise or Cloud
Enterprise scale analytics
Free 30-day trial
Overview
Price Range: $$
Starting Price: $1,300/user/year
Client OS: Mac, Web, Windows, iOS

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
★★★★★
★★★★★
(17)

CRM Pipeline
Project Tasks
Invoicing
What We Like
Full suite of business apps
Double entry inventory system
Full traceability from customer to supplier
Overview
Price Range: $$$
Client OS: Web

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
NetSuite ERP Screenshot

NetSuite ERP

★★★★★
★★★★★
(19)
NetSuite ERP is a cloud-based, developer-hosted, cloud ERP software platform offered on a software-as-a-service (SaaS) basis. NetSuite advertises its ERP solution as “the world’s most deployed cloud ERP” solution. NetSuite ERP is used by over 40,000…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$99/user/month
Client OS
Web
Deployment
Cloud Hosted
Odoo Screenshot

Odoo

★★★★★
★★★★★
(17)
Odoo is the most installed business software in the world. Odoo is used by 2.000.000 users worldwide ranging from very small companies (1 user) to very large ones (300 000 users). Amongst the biggest references you can find: Odoo is the only software in…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Web
Deployment
Cloud or On-Premises
Fishbowl Inventory Screenshot

Fishbowl Inventory

★★★★★
★★★★★
(20)
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, they move into manufacturing…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$4,395 (perpetual license)
Client OS
Mac, Windows
Deployment
Cloud or On-Premises
FlowTrac Screenshot
FlowTrac has many features to track your inventory, assets, labor and processes efficiently using the right software and hardware. Customization can be done for your unique situation. FlowTrac helps you use Barcode and RFID technology to provide better…
Client OS
Web, iOS, Android
Deployment
Cloud or On-Premises
Logiwa WMS Screenshot

Logiwa WMS

★★★★★
★★★★★
(3)
Logiwa is a fully integrated WMS and order fulfillment software that provides B2C and B2B warehouse management. The cloud fulfillment software platform integrates with ecommerce, shipping, and accounting platforms to stay up to date with your sales and…
Client OS
Web, iOS, Android
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…
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…
Client OS
Windows
Deployment
On-Premises
StockTrim Screenshot

StockTrim

★★★★★
★★★★★
(1)
StockTrim is an inventory planning and forecasting software that predicts future stock requirements to converse up to 40% of working capital. The solution helps eliminate the use of spreadsheets and has been proven to reduce stock-outs by 50%, reduce…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$99/month
Client OS
Web
Deployment
Cloud Hosted
GOIS Pro Screenshot
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…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
Epicor Prophet 21 Screenshot

Epicor Prophet 21

★★★★★
★★★★★
(13)
Epicor Prophet 21 is the industry leading cloud-based ERP solution built for distributors that wish to innovate with insight, improve efficiency, and scale to drive growth in the digital age. Powered by Microsoft Azure, the most trusted, proven cloud…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Mac, Windows
Deployment
Cloud Hosted
TRXio Screenshot

TRXio

★★★★★
★★★★★
(2)
TRXio is an inventory management solution designed by Cairnstack Software. By creating live QR codes, this system scans inventory labels so you can track products without the hassle of manual data entry. Live QR Code Traceability; Movement Analytics…
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…
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…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$750/month
Client OS
Web
Deployment
Cloud Hosted
Optimity Screenshot
Optimity is a supply chain planning solution that provides your manufacturing/distribution business with clear visibility and control over your supply chain processes. This solution directly addresses the difficulties of increasing costs and competition…
Client OS
Web, Windows
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…
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…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$399/month
Client OS
Web
Deployment
Cloud Hosted
Kechie ERP Screenshot

Kechie ERP

Kechie is a fully integrated cloud-based ERPsolution offered in different package, including Inventory/warehouse Management, Manufacturing, Finance, or a complete ERP. This software is fully configurable, with a robust MRP to help streamline your…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$149/user/month
Client OS
Web
Deployment
Cloud Hosted
Intuendi Screenshot

Intuendi

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…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$699/month
Client OS
Web
Deployment
Cloud Hosted
Skubana Screenshot

Skubana

★★★★★
★★★★★
(4)
Skubana is a multichannel inventory management and ERP software for online retailers. This solution automates ecommerce stores to handle online orders in one platform. Skubana synchronized data with popular channels including marketplaces. Multichannel…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$499/month
Client OS
Web
Deployment
Cloud Hosted
Clear Spider Screenshot

Clear Spider

★★★★★
★★★★★
(3)
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 to emulate your processes. It also has task notification…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$375/month
Client OS
Deployment
Cloud Hosted

We searched and searched, but we couldn’t find any products in our database that match your criteria. Perhaps our team of software experts can help? They’d be happy to provide a list of free inventory optimization software recommendations that meet your exact requirements.

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