Does inventory management haunt your dreams? If you’re still counting and managing your products manually, there’s no wonder it fuels your nightmares.
Whether it’s counting products by hand, trying to manage your products in a spreadsheet, or manually placing orders, there’s a lot to be scared of.
But the most terrifying thing about managing your inventory yourself? Making mistakes that cost you money.
Fortunately, many inventory management software solutions can help shoulder the load.
There are so many, in fact, that it might not be easy to discern which is the right choice for your business.
In this post, we’ll give you the must-see list of the best inventory management software available today.
We’ll also cover the features you need to look for, from basic to advanced, to help you understand which of the best software providers you should research further.
Finding the Best Inventory Management Software: What To Look For
Before we explore our list of the best inventory management software solutions for this year, we need to lay some groundwork. First and foremost, what features should you prioritize when choosing inventory management software for your store?
- Real-time inventory tracking: Look for a solution with accurate, up-to-date data that helps you see what you have on hand without manual counts.
- Inventory forecasting: Find software that helps anticipate future demand and make informed purchasing decisions with the help of intelligent forecasting tools.
- Low-stock alerts: A modern inventory management system alerts you when your bestsellers are low, giving you time to reorder.
- Inventory barcoding: Streamline your stock management processes by implementing inventory software with barcode scanner integrations.
- Reporting and analytics: Gain valuable insights into your inventory performance with robust reporting and analytics features.
These essential features are the backbone of any modern inventory solution. However, if you want to take your processes to the next level, you should also consider more advanced features, including:
- Mix and match pricing: Look for a system that offers your customers flexible pricing options and bundles without manual tracking.
- Case break inventory tracking: Keep tabs on individual units within larger cases, ensuring precise inventory counts and minimizing waste.
- Auto invoicing: Find a system that automatically generates invoices to streamline your billing process and reduce manual errors.
- Vendor purchasing metrics: Track and analyze your purchasing habits with each vendor, helping you identify cost savings and negotiation opportunities.
When creating your shortlist of potential inventory management software, prioritize solutions that offer the essential features you need and any advanced features that align with your unique business requirements.
Remember, the goal is to find a system you and your team will actually use and benefit from — there's no point in paying for bells and whistles that will go unused. Focusing on your specific needs and choosing software that fits the bill is the key to optimizing your inventory management processes.
With this in mind, let’s examine our list of the best inventory management software solutions to consider this year.
Zoho Inventory
Best for: Shopify sellers
Zoho Inventory is a powerful, cloud-based inventory management system that automates inventory operations. It offers features that streamline inventory processes, including accurate stock tracking, order management, and multichannel selling.
Key features:
- Accurate stock tracking with barcode and RFID system
- Multichannel selling with sales channel integration
- Order fulfillment with package tracking and shipping carrier integration
Pricing: Zoho Inventory offers a free plan for small businesses and paid plans starting at $29 per month for the Standard plan and up to $249 per month for the Enterprise plan.
Star rating and reviews:
Zoho Inventory has 4.4 out of 5 stars on G2.
One customer says: “Zoho One solves a lot of operational and process issues for small businesses… Zoho Projects or Sprints is also very helpful due to the integration with the other business solutions that Zoho offers. The automation and integration features are priceless.” –Zoho Customer
POS Nation
Best for: All-in-one point of sale and inventory management for small to mid-sized retailers
POS Nation offers a complete retail point of sale software solution that helps retailers better run their shops. Our software is user-friendly, feature-rich, and can manage both single-store and multi-location businesses.
Key features:
- Mix and match pricing for creative product bundles
- Case break inventory tracking
- Automatic purchase order generation with reorder thresholds
- Customer loyalty tracking and rewards programs
- Employee management with clock in/out functionality and user permissions
- Over 55 pre-built reports with Excel export and customization options
Pricing: Get a custom quote for your perfect solution using our transparent build and price tool.
Star rating and reviews:
POS Nation has 4.7 out of 5 stars on G2.
One customer says: “POS Nation was the right choice right from when we started talking to them. They really checked all the boxes for what we were looking for, and then came in affordable as well.” –The Candy Space, POS Nation Customer
Cin7
Best for: Manufacturing and warehousing
Cin7 is an inventory management solution that offers Connected Inventory Performance, enabling product businesses to automate their inventory lifecycle, connect their data ecosystem, and sell into new channels and territories.
Key features:
- Inventory management, order management, and inventory control
- Automated order fulfillment and inventory reporting
- Real-time inventory insights across multiple locations
- Warehouse efficiency improvements with pick and pack operations and barcode scanning
Pricing: Cin7 offers two main plans: Core and Omni. The Core plan has essential features for growing businesses, while the Omni plan is more suitable for companies with custom configuration and integration requirements. Pricing details are not provided on their website, and interested customers need to contact their sales team for more information.
Star rating and reviews:
Cin7 has 4.2 out of 5 stars on G2.
One customer says: “[Cin7 has] practical features that are used by any warehouse daily, item management, SKU/barcode management, etc... all in all, a complete package for warehouse management.” –Cin7 Customer
Related Read: How To Increase Sales in Retail: The Top Promotional Tactics
Katana
Best for: Open API inventory management software
Katana is a cloud-based inventory management software designed for small and medium-sized businesses. It offers real-time data and seamless integrations to help businesses manage stock across all their sales channels.
Key features:
- Live inventory management with real-time data
- Built-in purchase order management and tracking
- Omnichannel sales management with centralized order fulfillment
- Open API for custom integrations with other business tools
Pricing: Katana offers three pricing plans: Essential ($99/month), Advanced ($299/month), and Enterprise (custom pricing).
Star rating and reviews:
Katana rates 4.4 out of 5 stars on G2
According to one customer: “The visual queueing of manufacturing jobs is a brilliant feature. It is easy to schedule work and plan for materials to arrive as they become needed. The ability to generate manufacturing orders from the sales order page is [also] super easy to use.” –Katana Customer
IT Retail
Best for: Grocery inventory management
IT Retail offers a point of sale and inventory management solution designed for grocers. It provides a range of tools to simplify the manual inventory management process and help reduce shrinkage and spoilage of perishable inventory.
Key features:
- Android inventory app with quick edit, purchase orders, receiving, and inventory count features
- Shrinkage calculation based on past inventory counts and items received and sold
- Purchase order creation and receiving against orders
- Low stock reports with year-to-date, last month, and last week's sales data
- Offline functionality and rugged hardware for reliable performance
Pricing: Get a custom quote using their online pricing tool.
Star rating and reviews:
One IT Retail customer says: “IT Retail is a comprehensive POS system that allows me to efficiently serve my customers in the front while providing me the tools and information to effectively run my business in the back office.” –Megan LaGree, IT Retail Customer
Related Read: 4 Inventory Management Tips To Streamline Grocery Store Operations
Sortly
Best for: Enterprise inventory management
Sortly is an inventory management software designed for large teams of 10 or more people. It enables teams to track inventory in real-time from multiple locations, making it an ideal solution for enterprise-level businesses.
Key features:
- Real-time view of inventory across multiple locations
- Invoice and purchase order creation using inventory details
- Custom training, onboarding, and data migration assistance
- Mobile functionality with built-in handheld scanner and cross-device syncing
Pricing: Sortly does not provide transparent pricing information on its website. Interested shoppers can fill out a form with their contact details and team size to receive more information.
Star rating and reviews:
Sortly ranks 4.4 out of 5 stars on G2.
One customer says: “I honestly love the fact that I am able to monitor the in and out of each medication and clinical item used. The exporting to Excel is nice to use in regard to trending metrics…. It’s super easy to use. the UI is easy to train on, and the ability to use different programs.” –Sortly User
Combine Top Inventory Management Software With a Robust POS System
If you’re tired of managing inventory manually or cobbling together your inventory and point of sale data, the inventory management software solutions listed in this post can help you get started. Which is best for your business? No single solution will work for every retailer.
If you are an independent, small—to mid-sized retailer looking for an all-in-one inventory management system, POS Nation may be the solution for you.
When your inventory management and POS systems work together seamlessly, you'll enjoy more accurate inventory tracking, reducing the risk of stockouts or overstocking. You'll also have real-time visibility into your stock levels, empowering you to make informed decisions about purchasing and merchandising.
POS Nation’s cutting-edge POS system comes fully integrated with all the inventory management capabilities you need, from real-time tracking to automated reordering and everything in between. With POS Nation, you'll have a single, powerful platform that handles all your retail management needs, so you can say goodbye to the hassle of juggling multiple systems.
Schedule a demo of POS Nation today to see how our solution can help your store thrive.
