A Comprehensive Guide to Choosing the Best Inventory Management Software for Your Business in 2023
In today’s fast-paced business environment, effective inventory management is crucial for businesses of all sizes and industries. An efficient inventory management system can streamline operations, optimize stock levels, and improve overall productivity. However, with a multitude of inventory management software options available in the market, finding the right solution can be a daunting task. In this comprehensive guide, we will explore the top inventory management software options for 2023, their key features, pricing, and target user base. Whether you’re a small retailer, a manufacturer, or a multichannel seller, this guide will help you make an informed decision and find the best inventory management software for your specific business needs.
1. Cin7: Best Overall Inventory Management Software
Cin7 is a robust inventory management software that offers a comprehensive suite of features designed to meet the needs of fast-growing online sellers. It provides seamless end-to-end order, inventory, and shipping management solutions. With Cin7, you can sync stock levels across multiple warehouses, track bundled and assembled goods, automate purchase orders based on sales velocity, and integrate with various online stores and marketplaces. The software also includes a built-in point-of-sale (POS) feature, making it suitable for businesses with both online and in-store sales.
- Built-in POS systems on all plans
- Integrates with top e-commerce and shipping platforms
- Multi-warehouse order automation, including Amazon FBA support
- Requires add-on for shipping functionality
- No EDI connections on the base plan
- Does not offer a free trial
For more information about Cin7, visit their official website.
2. Ordoro: Best for Multichannel Sellers
Ordoro is an end-to-end inventory management software that specializes in streamlining operations for multichannel e-commerce businesses. It offers real-time inventory and shipping status synchronization across various sales channels, including e-commerce platforms, online marketplaces, and retail inventory through POS integrations. One of Ordoro’s key strengths is its purchasing automation, which allows for easy order forwarding to warehouses and dropship vendors, as well as one-click purchase order creation based on sales forecasting or reorder quantities. It is also suitable for managing manufactured goods and order bundling.
- Sync inventory, orders, and shipping with most e-commerce stores and online marketplaces
- Sell and track kitted, bundled, and assembly products
- Automate dropshipping and multi-warehouse management
- Inventory plans can be pricey
- No mobile app for remote management or mobile stock counts
For more information about Ordoro, visit their official website.
3. inFlow: Best for B2B and Wholesale Businesses
inFlow offers advanced inventory management software tailored specifically for B2B and wholesale businesses. It provides features such as parts, assemblies, and finished unit tracking, multi-warehouse management, dropshipping, and purchasing automation. One standout feature of inFlow is its virtual showroom portal, which allows businesses to create customized showrooms with selected inventory items for their clients. It also supports B2B quotes and invoicing, sales rep order routing, production workflows, kitting for made-when-ordered goods, and location mapping for efficient pick-and-pack processes.
- Virtual showroom portal feature for wholesale and B2B sales
- Sales rep order routing and tagging
- One-click quote-to-order-to-invoice ideal for B2B and wholesale businesses
- Plans based on monthly sales, growth can require an upgrade
- Virtual showroom only available on higher plan tiers
For more information about inFlow, visit their official website.
4. Katana: Best for Manufacturers
Katana is an end-to-end inventory management software that caters specifically to the needs of manufacturing businesses. It offers a wide range of inventory management features, including barcode-enabled parts tracking, production planning, assembly tracking, storage and shop floor management, supplier logistics, and more. Katana’s pricing plans are designed to provide excellent value for manufacturers, with affordable options starting at $99 per month for essential inventory management tools and scaling up to more advanced features in higher-tier plans.
- Comprehensive inventory and workflow management for manufacturers
- Affordable pricing plans
- Wide range of manufacturing-specific features
- Support response time may vary
- No free trial available
For more information about Katana, visit their official website.
5. Zoho Inventory: Best Value for Money
Zoho Inventory is a feature-rich inventory management software that offers great value for businesses on a budget. It provides essential inventory management capabilities, including stock tracking, order management, and reporting. Zoho Inventory integrates with popular e-commerce platforms, accounting software, and shipping providers, allowing for seamless data synchronization and streamlined operations. With its affordable pricing plans and a wide range of features, Zoho Inventory is an excellent choice for small and medium-sized businesses looking for a cost-effective solution.
- Affordable pricing plans
- Integrates with popular e-commerce platforms and accounting software
- User-friendly interface
- Some advanced features may be limited in lower-tier plans
- Customization options are relatively limited
For more information about Zoho Inventory, visit their official website.
6. ShipBob Merchant Plus: Best for Hybrid Fulfillment
ShipBob Merchant Plus is an inventory management software that specializes in hybrid fulfillment, catering to businesses with a combination of in-house and outsourced fulfillment needs. It provides robust inventory management features, including real-time stock tracking, order routing, and fulfillment automation. ShipBob integrates with various e-commerce platforms, allowing for seamless order syncing and fulfillment across multiple channels. With its focus on hybrid fulfillment and strong fulfillment capabilities, ShipBob Merchant Plus is an ideal choice for businesses looking to optimize their fulfillment operations.
- Specializes in hybrid fulfillment needs
- Real-time stock tracking and order routing
- Seamless integration with e-commerce platforms
- Pricing may be higher compared to some other options
- Some advanced features may require additional add-ons
For more information about ShipBob Merchant Plus, visit their official website.
7. Fishbowl Inventory: Best for QuickBooks Users
Fishbowl Inventory is an inventory management software designed to seamlessly integrate with QuickBooks, making it an excellent choice for businesses already utilizing QuickBooks for their accounting needs. It offers features such as inventory tracking, order management, barcode scanning, and reporting. Fishbowl Inventory provides real-time data synchronization with QuickBooks, ensuring accurate financial information and reducing manual data entry. With its QuickBooks integration and robust inventory management capabilities, Fishbowl Inventory is a top pick for QuickBooks users.
- Seamless integration with QuickBooks
- Real-time data synchronization
- Barcode scanning and reporting capabilities
- May require additional add-ons for specific functionalities
- User interface can be complex for some users
For more information about Fishbowl Inventory, visit their official website.
Choosing the right inventory management software is crucial for businesses looking to streamline their operations, improve efficiency, and optimize inventory control. The options mentioned in this article, including Cin7, Ordoro, inFlow, Katana, Zoho Inventory, ShipBob Merchant Plus, and Fishbowl Inventory, offer a wide range of features tailored to specific business needs. Whether you are a fast-growing online seller, a multichannel e-commerce business, a B2B or wholesale-focused enterprise, a manufacturing company, or a QuickBooks user, there is a suitable inventory management software available to meet your requirements.
Investing in the right inventory management software can lead to significant time and cost savings, improved customer satisfaction, and increased profitability. Take the time to evaluate your business needs, compare the features and pricing of different software options, and consider the pros and cons mentioned in this article. By selecting the right inventory management software, you can take control of your inventory and drive your business towards greater success.
1. Is there a free inventory management software available?
While most inventory management software options mentioned in this article offer free trials, only monday.com is specifically mentioned as the best free inventory management software.
2. Can inventory management software integrate with e-commerce platforms?
Yes, many inventory management software options integrate with popular e-commerce platforms to sync inventory levels, orders, and shipping information in real time.
3. Are there inventory management software options suitable for B2B businesses?
Yes, both inFlow and Katana are mentioned as inventory management software options that cater to the specific needs of B2B and wholesale businesses.
4. Do these inventory management software options offer customer support?
Yes, all the mentioned inventory management software options provide customer support, including various channels such as phone support, live chat, email assistance, and online resources.
5. Can inventory management software integrate with accounting software like QuickBooks?
Yes, Fishbowl Inventory is specifically mentioned as an inventory management software option that seamlessly integrates with QuickBooks for streamlined accounting and inventory management.
Note: The information provided in this article is based on the best inventory management software options mentioned in the Forbes Advisor article for the year 2023. It is recommended to visit the official websites of the software options mentioned for the most up-to-date and accurate information.