Navigating the landscape of small business inventory software options to find the best fit can be challenging. However, the right system can transform managing inventory from a complex task into a smooth process. In this article, we’ve gathered the 15 top choices for small business inventory software available today. Let’s explore these options further to help you make an informed decision.
What Does Inventory Management Software Do?
Inventory management software is essential for many businesses to maintain optimal inventory levels, reduce costs, and improve customer satisfaction. Here are five key features of inventory management software:
Inventory management software helps businesses keep track of their inventory across different warehouses and locations.
Real-time data on inventory levels, sales, and shipments help businesses make informed decisions about inventory management.
Low Stock Alerts
Automated notifications for low stock levels help businesses avoid stockouts and improve order fulfillment rates.
Barcode Scanning Capabilities
Inventory management software with barcode scanning capabilities streamlines the inventory management process and reduces errors.
Inventory management software with advanced reporting features provides insights into inventory turnover rates, order lead times, and other critical metrics.
Be sure to circle back and check out this supplemental video ‘How to Manage Inventory for a Small Handmade Business’ to see how people use small business inventory software in real-world scenarios.
Why Would Small Business Owners Need an Inventory Management System?
Small business owners need an inventory management system to accurately track inventory levels, streamline order fulfillment, and optimize the supply chain. This can help reduce costs, improve cash flow, and ultimately lead to increased profitability.
15 of the Best Inventory Management Software for Small Businesses
We’ve compiled 15 of the best inventory management systems and software options for small businesses, each with unique features and pricing plans.
Cin7 is an inventory management software solution and growth platform that automates end-to-end order management across multiple sales channels. It offers two solutions: Cin7 Omni for sales across any channel and Cin7 Core for streamlined operations.
2. Zoho Inventory
Zoho Inventory provides inventory management software with multi-platform integrations, end-to-end tracking, multiple shipping options, accounting/CRM integrations, and warehouse management. It offers various pricing plans and mobile app accessibility.
3. InFlow Inventory
InFlow inventory software simplifies inventory management for businesses worldwide with barcode scanning, order fulfillment, and real-time inventory tracking. It offers a 14-day free trial, no setup fees, and integrates with over 95 platforms.
Ordoro is an all-in-one platform for online merchants, offering affordable shipping, real-time inventory tracking, and consolidated order management. It has received top performer awards and offers flexible pricing plans.
Brightpearl offers a retail operating system to automate operations, inventory planning, sales analytics, and integrations. Over 5,000 brands use it to manage supply chain disruptions and seize opportunities for growth. Expert support is provided.
6. Lightspeed Restaurant (Upserve)
Lightspeed Restaurant (U-Series) is a one-stop management platform for restaurant businesses including those with multiple locations. It includes solutions for hardware, support, and app updates. The 2020 acquisition of Upserve enhanced Lightspeed’s offerings for merchants worldwide.
Fishbowl provides flexible ERP software to efficiently manage inventory, warehousing, and manufacturing processes. It offers real-time visibility, a compliance-ready platform, and integrations with popular business tools, including QuickBooks, Salesforce, and Shopify.
8. Quickbooks Intuit
QuickBooks Online tracks inventory with real-time updates and reports, including low stock alerts and back order notifications. It syncs with popular apps and offers inventory insights with various reports. Plus and Advanced plans provide additional features.
9. Lightspeed Retail
Lightspeed Retail offers a complete POS system for managing sales channels, inventory, and analytics in one platform. It includes features like fast checkout, inventory management, retail analytics, integrated payment processing, and integrations with other business software.
Sortly is an inventory management software designed for small businesses. It offers features such as organizing, managing, reporting, and synchronization of inventory across devices. It also includes a mobile app for inventory tracking. Sortly offers a free trial with multiple pricing plans.
11. FreshBooks Accounting Software
FreshBooks offers accounting and invoicing software for businesses of all sizes. Its tools include invoicing, accounting software, payments, expenses, time tracking, projects, and reporting. FreshBooks integrates with over 100 apps and provides support from a highly knowledgeable team. It offers a 30-day free trial and has earned an excellent rating based on customer reviews.
Veeqo, a free shipping software, offers low rates, automation, and inventory tools to simplify pick, pack, and shipping. Integration with Amazon provides benefits such as discounted rates and data security. Power features include inventory control, mobile picking, and analytics.
Katana is a cloud-based manufacturing software that offers inventory, production, accounting, and real-time data management and integrates with various business tools. It provides total shop floor control and multichannel order management. Customers range from hobby makers to multi-million dollar businesses.
14. ShipBob Merchant Plus
ShipBob’s Merchant Plus provides all-in-one cloud-based warehouse inventory management solutions that streamline inventory, order, pick and pack, transportation, reporting, and analytics. The software’s blended fulfillment option allows businesses to access available capacity across ShipBob’s 40+ warehouses worldwide.
NetSuite Inventory Management is a software that provides real-time visibility of inventory across all locations and sales channels, allowing businesses to reduce costs while meeting customer expectations. It automates inventory tracking, demand-based planning, and minimizes manual processes, challenges, and excessive handling. The pricing is an annual license fee with optional modules and a one-time implementation fee.
Here is a quick snapshot of those options in tabular form for easy reference:
|1||Cin7||End-to-end order management, two solutions: Omni & Core||Contact for details|
|2||Zoho Inventory||Multi-platform integrations, end-to-end tracking, multiple shipping options, accounting/CRM integrations, and warehouse management||Various plans|
|3||InFlow Inventory||Barcode scanning, order fulfillment, real-time inventory tracking, 14-day free trial||Contact for details|
|4||Ordoro||Affordable shipping, real-time inventory tracking, consolidated order management||Flexible pricing plans|
|5||Brightpearl||Automation of operations, inventory planning, sales analytics, and integrations||Contact for details|
|6||Lightspeed Restaurant (Upserve)||One-stop management platform, solutions for hardware, support, and app updates||Contact for details|
|7||Fishbowl||ERP software for inventory, warehousing, and manufacturing processes||Contact for details|
|8||QuickBooks Intuit||Inventory tracking with real-time updates and reports, syncs with popular apps||Plus and Advanced plans|
|9||Lightspeed Retail||POS system for managing sales channels, inventory, and analytics||Contact for details|
|10||Sortly||Organizing, managing, reporting, and synchronization of inventory across devices||Free trial with multiple pricing plans|
|11||FreshBooks Accounting Software||Invoicing, accounting software, payments, expenses, time tracking, projects, reporting||30-day free trial|
|12||Veeqo||Low rates, automation, inventory tools for pick, pack, and shipping||Contact for details|
|13||Katana||Cloud-based manufacturing software for inventory, production, accounting, and real-time data management||Contact for details|
|14||ShipBob Merchant Plus||All-in-one cloud-based warehouse inventory management||Contact for details|
|15||NetSuite||Real-time visibility of inventory, reduces costs, minimizes manual processes||Annual license fee with optional modules and one-time implementation fee|
Remember: For specific pricing, it’s recommended to contact the software provider directly, as some prefer to tailor the cost according to the business’s size and needs.
How Much Does Inventory Management Software Cost for a Small Business?
The cost of inventory management software for small businesses can vary greatly and is influenced by several factors. This variation in cost can be attributed to the nature of the software itself and the size and complexity of your business operations.
Here’s a more detailed breakdown:
- Software Features: The cost of the software is significantly influenced by the features it offers. Basic inventory management software might offer simple functions like tracking inventory levels and generating basic reports, while more advanced systems might provide features like multi-channel selling, advanced reporting, integration with other business systems, predictive analytics, and automation of complex processes. The more sophisticated the features, the higher the cost will likely be.
- Number of Users: The price of inventory management software often scales with the number of users or user licenses you need. For small businesses with a small team, this might not significantly impact the cost. However, as the team grows, the cost can increase.
- Deployment Model: The choice between on-premise and cloud-based software can also affect the price. On-premise solutions often require a larger upfront investment for the purchase and installation of the software, but they may have lower ongoing costs. Cloud-based solutions, on the other hand, typically have lower upfront costs but require a monthly or annual subscription fee.
- Vendor Support and Updates: Some vendors charge extra for support services and regular updates to the software. It’s important to consider this as part of the total cost.
- Training and Implementation: Depending on the complexity of the software, there might be costs associated with training staff to use it and implementing it in your business.
Given these variables, a basic inventory management software might cost as little as $50 per month, while more complex systems with advanced features can cost several hundred dollars per month. In some cases, costs could go into thousands per month for large-scale, fully integrated systems.
Another important thing to remember is that you need scalable and flexible small business inventory software if you plan on growing your business. Therefore, other aspects other than cost, such as scalability, ease of use, and integration capabilities, should be taken into account as well.
Choosing the Right Inventory Tracking Software
Choosing the right inventory tracking software for your business involves considering your business’s unique needs, such as the number of products, sales channels, and warehouses. For example, businesses that sell on marketplace sites may focus on eBay inventory management tools, while those with a physical location should focus on features for tracking inventory in person. Other important factors to consider include the software’s ease of use, cost, and customer support.
The Bottom Line
Having the right inventory management software can help small businesses overcome inventory management issues, reduce costs, and improve customer satisfaction. The 15 best small business inventory software options we have outlined in this article offer a range of features and pricing plans to suit different business needs. By investing in inventory management apps and integrating them with invoicing software, businesses can streamline their retail inventory management process and focus on growth, rather than focusing on how much does it cost to start a business.
Inventory Management Software for Small Business FAQs
What is the Best Software to Keep Track of Inventory?
The best inventory management software depends on your business’s specific needs. Popular options include Zoho Inventory, Cin7, and InFlow Inventory. Be sure to research other inventory management software to make an informed decision specific to your business needs.
Does Quickbooks Have an Inventory System?
Yes, QuickBooks offers an inventory system that tracks inventory levels, costs, and sales. However, it may not be suitable for businesses with complex inventory management needs.
What is The Best Way to Keep Track of Inventory for a Small Business?
The best way to keep track of inventory for a small business is to use inventory management software that offers features such as real-time tracking, low-stock alerts, and analytics. If you have a low budget, you may want to research free inventory management software options.
What is the Easiest Way to Keep Track of Inventory?
The easiest way to keep track of inventory is to use barcode scanning inventory management software. This eliminates manual data entry and reduces errors. Software like Wasp Inventory Control and EZOfficeInventory are easy to use and offer barcode scanning capabilities.
Image: Envato Elements
This article, “15 Best Small Business Inventory Software for Small Businesses” was first published on Small Business Trends