Best Inventory Management Software
Product | Promotion | Learn more | ||
---|---|---|---|---|
Brightpearl | Best for Built-in accounting module | N/A Quote-based pricing. | N/A | |
Square Retail POS: Inventory feature Learn more on Square Retail POS: Inventory feature's secure website | Best for Small retail shops | $0 Additional pricing tiers (per month): $60, custom. | 30-day free trial | Learn more on Square Retail POS: Inventory feature's secure website |
Lightspeed Retail POS: Inventory feature Learn more on Lightspeed Retail POS: Inventory feature's secure website | Best for High-volume retail stores | $89/month Additional pricing tiers (per month): $149, $269, custom. | 14-day free trial | Learn more on Lightspeed Retail POS: Inventory feature's secure website |
inFlow Inventory | Best for B2B specialization | $110/month Additional pricing tiers (per month): $279; $549; $1,319. | 14-day free trial | |
Restaurant365 | Best for Restaurant management | $435/month (billed quarterly) Additional pricing tiers (per month, billed quarterly): $635, custom. | N/A | |
Katana | Best for Manufacturing companies | $129/month Additional pricing tiers (per month): $349, $999, custom. | 14-day free trial plus $200 monthly discount on Professional plan. | |
Finale Inventory | Best for QuickBooks Online users | $75/month Additional pricing tiers (per month): $199, $349, $549, custom. | 14-day free trial | |
QuickBooks Enterprise: Inventory feature | Best for Locally installed inventory management software | $1,410/year Additional pricing tiers (per year): $1,830; $2,250; $4,400. Adding users or cloud access costs extra. | 30-day free trial | |
Zoho Inventory Learn more on Zoho Inventory's secure website | Best for Free inventory management software | $0 Additional pricing tiers (per month): $79, $129, $199, $299, $399. | 14-day free trial | Learn more on Zoho Inventory's secure website |
Cin7 Core | Best for Industry-specific plans | $325/month Additional pricing tiers (per month): $550, $650. | 14-day free trial |
Our pick for
Built-in accounting module
Brightpearl
N/A
Quote-based pricing.
N/A
Pros
- Sync inventory across multiple channels online and in-store.
- Create automation rules for tasks like order processing and invoicing.
- In-depth reporting on sales channels, customers, suppliers and marketing campaigns.
- Forecasting tools predict demand and make inventory recommendations.
- Also offers its own POS system, accounting and invoicing capabilities, customer relationship management system and warehouse management software.
- Unlimited users.
Cons
- Quote-based pricing makes it difficult to compare costs.
- Excessive for small businesses that don’t plan to grow.
Our pick for
Small retail shops
Square Retail POS: Inventory feature
on Square Retail POS: Inventory feature's secure website
$0
Additional pricing tiers (per month): $60, custom.
30-day free trial
Pros
- Built-in POS system and payment processing; in-house POS hardware available.
- Unlimited items in all plans.
- Barcode printing, mobile inventory counting tool, COGS tracking, stock forecasts and reorder recommendations in paid plans.
- Easy to navigate.
Cons
- Categories, coupons and sale prices don’t sync between Square Online and Square POS.
- Fewer inventory reports than some competitors.
Our pick for
High-volume retail stores
Lightspeed Retail POS: Inventory feature
on Lightspeed Retail POS: Inventory feature's secure website
$89/month
Additional pricing tiers (per month): $149, $269, custom.
14-day free trial
Pros
- Built-in POS system and payment processing; in-house POS hardware available.
- Generate unlimited barcode labels.
- Create purchase orders from within the software.
- One-on-one onboarding and a dedicated account manager included with all plans.
Cons
- Lowest-tier plan doesn’t include e-commerce features.
- Contract required.
Our pick for
B2B specialization
inFlow Inventory
$110/month
Additional pricing tiers (per month): $279; $549; $1,319.
14-day free trial
Pros
- Offers in-house smart scanner device.
- Generate barcode labels.
- More than 30 reports available.
- Integrated business-to-business showroom for listing items online.
Cons
- Must opt for more expensive plan to access unlimited locations.
- Number of included integrations is limited for all plans; must pay additional monthly charge to add integrations.
Our pick for
Restaurant management
Restaurant365
$435/month (billed quarterly)
Additional pricing tiers (per month, billed quarterly): $635, custom.
N/A
Pros
- Built-in accounting and scheduling functions.
- Recipe costing features, plus ability to track food waste.
- Create purchase orders from within the software.
- Add-ons for hiring, payroll and HR available.
- Forecasting tools for predicting labor needs and stock.
Cons
- Implementation fee.
- Could be excessive for very small, single-location restaurants.
Our pick for
Manufacturing companies
Katana
$129/month
Additional pricing tiers (per month): $349, $999, custom.
14-day free trial
plus $200 monthly discount on Professional plan.
Pros
- Access to accounting and e-commerce integrations in all plans.
- Introductory plan lets you track inventory in up to three warehouses.
- Use Katana Shop Floor app to track time spent on particular tasks, scan barcodes and assign jobs to employees.
- Gain insights into top-selling products, profit margin by category and cost of goods sold.
- Create purchase orders from within the software.
Cons
- Additional users cost extra in all plans.
- Higher-tier plans require costly implementation package.
Our pick for
QuickBooks Online users
Finale Inventory
$75/month
Additional pricing tiers (per month): $199, $349, $549, custom.
14-day free trial
Pros
- Finale Inventory and QuickBooks Online Advanced subscriptions can be bundled.
- Offers a variety of POS and e-commerce integrations including Lightspeed, Shopify, Square, Amazon and Etsy.
- All plans include at least one virtual training session.
- Can create purchase orders from within the software.
Cons
- Must subscribe to the Silver plan or higher to integrate with QuickBooks Online.
Our pick for
Locally installed inventory management software
QuickBooks Enterprise: Inventory feature
$1,410/year
Additional pricing tiers (per year): $1,830; $2,250; $4,400. Adding users or cloud access costs extra.
30-day free trial
Pros
- Robust, built-in accounting system.
- Solid inventory management solution for small businesses that prefer desktop products, though Advanced Inventory features do require an internet connection.
- Generate barcode labels; use app to scan barcodes with mobile Android devices.
- Advanced reporting; access to more than 200 reports.
Cons
- Must opt for Platinum plan to access advanced inventory features.
- Expensive; annual subscription prices rise if you need more than one user or require cloud access.
- Limited to Windows users.
Our pick for
Free inventory management software
Zoho Inventory
on Zoho Inventory's secure website
$0
Additional pricing tiers (per month): $79, $129, $199, $299, $399.
14-day free trial
Pros
- Sync inventory across multiple online sales channels. Other integrations include Zoho Books and QuickBooks Online for accounting.
- Free plan includes a customer portal, dropshipping options, backorders and item bundling.
- Free barcode, purchase order and shipping label generators.
- Mobile app available for iOS and Android.
Cons
- Free plan caps users at two, purchase orders at 20, and shipping labels and sales orders at 50.
- You’ll have to pay for setup help.
Our pick for
Industry-specific plans
Cin7 Core
$325/month
Additional pricing tiers (per month): $550, $650.
14-day free trial
Pros
- Can accommodate businesses in multiple industries, including retail and manufacturing.
- All plans include two e-commerce integrations, plus an accounting integration.
- Track components and finished goods.
- More than 100 reports available.
Cons
- Plans can be expensive.
- Limited number of users in all plans.
What is inventory management software?
How to choose inventory management software
Industry specificity
Integrations
Scalability
Cost
How much does inventory management software cost?
- How many inventory locations or warehouses your business has.
- How many items you need to track.
- The number of sales channels you need to integrate.
- How many users need to access the inventory management software.
- The number of sales orders you create per month.
- The complexity of your production process. For example, it may cost more to track both parts and finished products.
- Whether you need add-ons for shipping. Small businesses that ship orders may need a more sophisticated product that includes end-to-end order fulfillment options.
- Your payment schedule. Opting to pay annually, as opposed to monthly, will usually save you money. Just make sure you’re ready to commit to the product for an entire year if you go that route.
What features does the best inventory management software have?
- Real-time inventory tracking. This is important for businesses that need to track inventory items as they move through the supply chain and order fulfillment process. Systems with this feature will immediately update when returns and sales are made, too.
- Multi-channel inventory management. Businesses that sell products in multiple places will need to centralize their sales and inventory data in one place.
- Low-stock alerts and reorder points. You can set custom reorder points so that you’re notified when it’s time to order more inventory. Some software will even suggest or calculate reorder points for you.
- Purchase order management. Creating purchase orders and sending them to vendors is much more convenient when you can do it from within your inventory management software. This is especially true if you use the just-in-time inventory strategy and frequently make purchase orders to restock what’s been sold.
- Digital labeling and barcode scanning. Counting inventory by hand takes time and is prone to human error. Scanning items’ SKU or UPC labels is much more efficient. You can scan digital labels as inventory items get delivered and as you pack them out for shipment or sell them in store. Some software lets you use mobile devices as scanners.
- Kitting and/or parts and assembly tracking. Maybe you sell subscription boxes with multiple related products — together, these items make up a kit. Or, if you manufacture something like bars of soap, you might want to track raw materials and finished products.
- Reporting. Look for reports on inventory forecasts, cost of goods sold, inventory profitability and sales by item or product.
- Item variants and units of measure flexibility. Businesses that sell the same shirt in multiple sizes and colors, for example, will need inventory management software that lets you record variants (like color and size), as well as descriptions. Some businesses will need to switch between units of measurement, too. Each shirt could count as an individual unit, but you might want to measure material in yards.
- Order fulfillment options. When a customer orders something online, it has to be picked from the warehouse, packaged and shipped to the correct address. Inventory management software with shipping add-ons or features helps you manage this process end-to-end.
How can inventory management software benefit your business?
Methodology
- Granular inventory tracking.
- Reporting.
- Accounting, POS and e-commerce integrations.
- Barcode scanning.
- Purchase order management.
- Order fulfillment options or shipping add-ons.