7 best inventory management software solutions in 2023
If you handle physical goods, there’s a strong possibility that inventory management is the backbone of your entire business.
That’s why it’s essential to find programs for inventory management that help you handle this momentous task. But, inventory management software comes in many shapes and sizes, so determining the right one for your business is tricky. That’s why we’ve put together this article to help you find the best inventory management software for your business.
In this article, we’ll look into what is the best inventory management software available for different businesses and industries, including dropshippers, e-commerce sellers, restaurant owners, and manufacturers.
Katana gives manufacturers total inventory control of their different inventory types, like raw materials, finished goods, and work-in-progress. This automated inventory management system allows you to track inventory movements in real time and adjust your workflows. At the same time, Katana automatically reallocates items to open orders to fit the new workflow. You can also set reorder points on your raw material and finished goods, so you can avoid your stocks depleting and bringing your business to a grinding halt.
Katana inventory management software gives manufacturers the essential features for:
Multichannel sales and manufacturing management
Stay ahead of your deadlines with full visibility of your inventory, operations, and orders across your different sales channels at different locations. So, whether you’re selling online or in-person, Katana inventory management software can differentiate your stock.
Katana allows users to set up barcode inventory scanning to streamline and improve how they receive and track items. With Katana inventory management software, you can assign barcode numbers to items, view barcode numbers in the Katana platform, and identify items with barcodes.
SKU codes are essential for managing inventory since they help you identify the exact item and product variant in your inventory. SKUs can also help your e-commerce platform, like Shopify, to recommend other items to customers on your websites. If you’re a manufacturer looking for a tool, then Katana is one of the best inventory management software for Shopify.
Batch tracking is a legal requirement for some industries, such as ones that handle perishable inventory. However, batch tracking with inventory management software is also great for manufacturers that make-to-stock and make-to-order items to easily separate their inventories.
If you’re a manufacturer with multiple factories, warehouses, or items in consignment, then Katana inventory management software can help you manage these items from anywhere. So, if one location has low stock levels, you can easily make a stock transfer and stay ahead of the demand.
The best online inventory management software comes with integrations, such as:
Using either the native integrations, the codeless templates, or by accessing the API. Katana gives users all the tools necessary to integrate and synchronize with their favorite e-commerce, accounting, reporting, CRMs, and many more.
Get set up with an inventory management system purpose-built for manufacturers in a short amount of time
Manage products and their variants with the in-depth bill of materials/product recipes
End-to-end material and product traceability with batch tracking features
Katana is designed for manufacturers and might not be ideal for drop shippers. However, Katana has the tools to support contract manufacturing.
Katana is primarily built to support SMB manufacturers.
2.Ordoro — e-commerce inventory management
Price: Starts at $59.00 per month
Free trial: Yes, and a free version
Kicking off the best inventory management software for e-commerce for scaling sellers with Ordoro, giving users the tools to compete with large-scale retailers.
Ordoro is great for managing your e-commerce inventory if you’re a seller looking for:
Handling dropshipping inventory
An open API
Ordoro allows you to integrate your different sale channels to improve your fulfillment workflows with features such as shipping label creation, omnichannel inventory management, automated dropshipping, and more. The most significant advantage of Ordoro is that getting started with the software is free. There are no set-up fees or monthly subscriptions, and users can access a free 30-day onboarding session.
Monitor multiple shipping options and compare prices of different delivery services in one place
Easily create and save return labels information and email customers the label directly
Connect with e-commerce platforms such as BigCommerce to notify customers of shipping and tracking updates
Updates between Ordoro and e-commerce platforms are once every hour and not in real-time
Doesn’t integrate with many e-commerce platforms or marketplaces such as Amazon
Upserve inventory management software gives users access to features such as:
Shift notes and workforce management
One of the best restaurant inventory management software — Upserve gives managers, and business owners access to Android or iOS-based POS systems. This cloud-based solution for inventory management allows businesses to raise their productivity, track orders easily, and increase profits with a centralized platform to monitor their entire business. Also, since Upserve is a restaurant inventory management system, you can set access levels so managers can approve changes to checks securely and set automated gratuity levels.
Easily track your inventory levels and see what needs to be ordered
This software can help you streamline your ordering process and minimize errors, which can lead to significant savings over time
You can free up cash flow and increase your profits
Challenging to learn how to use all the features and functions of the software
If you do not have a strong internet connection, the software may not work as well or may be difficult to access
4. Zoho inventory — inventory management software
Price: Starts at $59.00 per month
Free trial: Yes, free to use with limited features
Zoho inventory is a cloud-based software that helps businesses track and manage their stock levels.
It offers features such as:
Tracking inventory levels in real-time
Setting up alerts for when inventory levels are low
Reporting to help businesses optimize their inventory levels and avoid stockouts
Integrating with Zoho CRM for a complete view of customers and orders
Zoho inventory is a great solution for businesses that need help managing their inventory levels. It offers real-time tracking and alerts to help businesses keep track of their stock levels and avoid stockouts. Zoho inventory also integrates with other Zoho products, making it a comprehensive solution for businesses of all sizes.
Zoho inventory is a great option if you’re looking for inventory management software to help streamline your business operations.
Zoho is easy and quick to learn, with great customer support
keep track of your inventory levels and know when to order more products
Optimize your shipping and receiving processes
It does not offer a lot of features or customization options, which can make it challenging to use for some businesses
The software is not always accurate, leading to stock shortages or overages
5. Square — POS system
Price: Starts at $25.00 per month
Free trial: 15-day free trial and a free version
A POS system with inventory management features — Square Point of Sale, available for iOS and Android devices.
Square inventory management systems give users access to features, hardware, and equipment like:
Online sale orders management
Analytics and reports
A compact POS terminal
Other Square apps such as Square Retail, Invoice, and Payroll
Unlike some of the other best cloud-based inventory management software mentioned in this list, Square works offline and can accept payments, so your business can keep operating if there are issues with the internet. Square POS lets managers and business owners easily process discounts and manage refunds. It does this by giving you the tools for inventory management, like saving product names, recording quantities, and pricing.
Accepts both credit and debit cards
The hardware is lightweight and easy to move about
Easily manage sales in the Square POS database
Square card readers and POS hardware aren’t available in some countries
Lacks the features for customization
6. Monday.com — inventory control software
Price: Starts at $24.00 per month
Free trial: Yes, free access with limited features
Using monday.com will help you and your business with:
Manage multiple workloads at once
Setting up collaborations internally and externally
More specifically, monday.com Work OS is there to integrate with your other software systems to create harmony across your entire business. Monday.com is suitable for teams and businesses of all sizes as it supports the needs of any process, project, or workflow. Best of all, you don’t need to be a computer whizkid to get everything set up, as the Work OS provides a no code/low code open platform to create widgets, workflows, integrations, and apps.
Ready-made project templates mean you can hit the ground running
Easy to navigate dashboards and charts
Flexibility by managing projects via various columns and view types, including Kanban, Gantt, tables, and more.
The mobile version isn’t optimized and is even missing some functionality
Even with templates, using monday.com is complex and not primarily designed for inventory management, so is missing features dedicated manufacturing software has
7. Spocket — dropshipping inventory management
Price: Starts at $54.99 per month
Free trial: 14 days
For the entrepreneurs using dropshipping, look no further than Spocket — a dropshippers best friend.
With Spocket, you can:
Easily find, research, and sell products
Get automated order fulfillment and track orders in real-time
Get automatic inventory updates
Spocket enables sellers to search from thousands of US and EU suppliers to start their dropshipping business. They can use Spocket to gather data and order product samples before purchasing. If you’re looking to launch your Dropshipping business as effortlessly as possible, this is the tool for you.
Real-time automatic stock level updates
Easily track and keep customers informed of status updates of inventory movements
One-click import of all your products onto Spocket
If you want to use suppliers outside of the US and EU, you’ll need to pay extra fees
Spocket doesn’t connect with marketplaces such as Amazon, eBay, Etsy, Wish, and Groupon
Manage your inventory with software for manufacturers
Upgrade your workflows with inventory software for free for total visibility of your entire business and make important decisions in real-time.
Choosing the best inventory management software for your business
And that’s a wrap, the seven best inventory management software for different types of businesses that handle physical goods.
Just be sure that when you find inventory management software that matches your business type and will support your workflows, that you thoroughly investigate other tools on the market too. Software comparison sites such as Capterra, SoftwareWorld, and Digital.com can help you do this.
But, if you’re a manufacturer looking for automated manufacturing inventory software, you need to check out this one tool in your search for the perfect software for your business. Katana inventory management software has a 14-day free trial, so you can experience first-hand what optimized management can do for your business.