Categories   >   Inventory Optimization Software
Last Reviewed: November 14th, 2024

Best Inventory Optimization Software Of 2024

What is Inventory Optimization Software?

Inventory Optimization Software leverages technology to balance the interconnected objectives of inventory management. It helps businesses avoid stockouts and overstocking, two problematic scenarios that can severely impact their bottom lines. This system's importance rests in its ability to maintain optimal stock levels, thereby reducing inventory costs, improving cash flow, and enhancing customer satisfaction. Core functionalities include demand forecasting, safety stock calculation, and replenishment planning. On the horizon, AI-powered predictive analytics represent an exciting trend. Retailers, manufacturers, and e-commerce businesses stand to benefit the most from this software. However, potential challenges include system integration, accuracy of input data, and the need to adapt to quickly-changing market trends. In a nutshell, Inventory Optimization Software is a valuable tool that assists businesses achieve an ideal balance in their inventory, fostering profitability and customer satisfaction. Despite its potential operational challenges, the benefits to inventory management and the bottom line are undeniable.

What Are The Key Benefits of Inventory Optimization Software?

  • Maintains optimal stock levels
  • Reduces inventory costs
  • Improves cash flow
  • Enhances customer satisfaction
  • Enables demand forecasting
  • Calculates safety stock
  • Automates replenishment planning
  • Fosters informed decision-making
  • Increases sales opportunities
  • Prevents overstocking and stockouts
Read more

Overall

Based on the latest available data collected by SelectHub for 46 solutions, we determined the following solutions are the best Inventory Optimization Software overall:

Zoho Inventory
Zoho Inventory
Start Price
$59
Monthly, Freemium
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Zoho Inventory

Zoho Inventory garners positive reviews for its user-friendly interface, real-time inventory tracking, and affordability, particularly for small and medium-sized businesses (SMBs). Many appreciate its intuitive design, even for those new to inventory management, and its free plan, which caters to businesses starting out. Streamlined workflows and multi-channel selling support are frequently lauded, helping users automate tasks and manage inventory across various sales channels efficiently.

However, some users find the free plan's feature set limiting, lacking advanced functionalities like demand forecasting and integrations with popular third-party platforms. Customization also presents challenges for some, desiring more flexibility in tailoring reports and workflows. While a mobile app exists, it occasionally encounters glitches and lacks the full feature range of the desktop version.

Zoho Inventory stands out compared to competitors for its free plan and cost-effectiveness, attracting budget-conscious businesses. Users often praise its ease of use and intuitive interface, making it a suitable choice for those less tech-savvy. However, if extensive features, high customization, and robust mobile functionality are crucial, competitors like Square Online Store Inventory or Xero Inventory might be better suited for complex needs.

Ultimately, Zoho Inventory shines for its user-friendliness, affordability, and core inventory management functionalities. While it may not cater to every business need, its strengths resonate with budget-conscious SMBs seeking a user-friendly platform to streamline their inventory operations.

Pros & Cons

  • User-friendly interface: Intuitive design and easy navigation make it simple to learn and use, even for those without extensive inventory management experience.
  • Real-time inventory visibility: Track stock levels across multiple locations and channels in real-time, ensuring accurate data for informed decision-making.
  • Automated workflows: Streamline tasks like purchase orders, sales orders, and invoicing to save time and reduce manual errors.
  • Customizable reporting: Generate detailed reports on inventory levels, sales performance, and other key metrics to gain insights and make data-driven decisions.
  • Multi-channel selling support: Manage inventory seamlessly across online stores, marketplaces, and physical outlets, preventing overselling and ensuring accurate stock levels.
  • Mobile app for on-the-go access: Manage inventory, track orders, and fulfill shipments from anywhere using the Zoho Inventory mobile app.
  • Integration with other Zoho apps: Connect with Zoho Books, Zoho CRM, and other Zoho apps for a unified business ecosystem and streamlined workflows.
  • Affordable pricing: Free plan for small businesses and affordable paid plans for growing businesses, making it a cost-effective solution.
  • Limited features in free plan: The free plan lacks advanced features like batch tracking, demand forecasting, and integration with third-party platforms.
  • Customization challenges: Some users find it challenging to customize certain aspects of the software, such as reports and workflows, to fit their specific needs.
  • Mobile app limitations: The mobile app lacks some features available in the desktop version, and some users report occasional glitches and slow performance.
  • Customer support variability: While Zoho Inventory offers various support options, response times and quality can vary, with some users reporting slow or unhelpful support experiences.
  • Scalability concerns: Very large businesses with complex inventory needs might find Zoho Inventory's features and scalability limited, requiring a more robust solution.

Key Features

  • Inventory Control:  
    •  Offers centralized inventory that automatically updates inventory quantities across all selling channels whenever a sale is made. 
    •  Features include product listing, item kitting, re-ordering, stock adjustments and more. 
    •  Verify and approve transactions created before they’re reflected in accounts and reports. 
    •  Set an approval workflow for transfer orders, sales transactions and purchase transactions. 
  • Order Management:  
    •  Helps manage sales and purchase orders. Shares delivery updates from a single-source order management system. 
    •  Supports online order management and movement of packages post-shipment through a single platform. 
    •  Integrates with Amazon, eBay, Etsy and Shopify. 
    • Safety Stock and Reorder: Calculate reorder points and maintain safety stock in the business to prevent running out of stock. Set reorder points and get updates on vital stock-level information. Also optimizes holding costs and reduces the probability of overstocking. 
    • Reports:  
      •  Helps monitor purchases, study sales trends and identify top performing items using inventory reporting options. 
      •  Includes inventory reports, sales and customer reports, purchase and payment reports, and activity logs. 
      •  Enables finding the item volumes shipped in and out from each warehouse. 
    • Warehouse Management: Supports multiple warehouse environments and the transfer of stock between them. Leverage actionable insights provided by warehousing reports. Set the closest warehouse for customers when preparing sales orders to get products to their destinations as quickly as possible. 
    • Multichannel Selling: Manages, controls, measures and fulfills multi-channel selling with the help of a single inventory management application. Supports multiple currencies and uses multiple payment gateways to ensure quick and correct payments. Also shares insights for performance of multiple sales channels. 
    • Order Fulfillment: Manages workflows and fulfills orders. Offers a common dashboard, an overview of orders, automatic packing slips, over 40 integrated shipping carriers and more. Create shipping labels and find real-time shipping expenses for each order before dispatch. Make drop shipments and let vendors ship directly to the client. 
Finale Inventory
Finale Inventory
Start Price
$99
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Finale Inventory

Finale Inventory provides comprehensive cloud-based solutions with a range of user-friendly features that help enhance inventory management processes. No iOS and Mac support is one major shortcoming of the software. Other than that, it sometimes loads slow, especially when transferring large amounts of data. There is no direct FBA integration as per user reviews. However, the support team is quite quick to resolve any issues. Flexibility and affordability are some other promising pros users commonly cite. Altogether, for non-Mac users, it’s a solid choice for those looking for an inventory management solution that does the job and is easy on the budget.

Pros & Cons

  • Ease of Use: More than 90% of reviews on this aspect suggest that it has a simple interface and easy-to-use features.
  • Flexible System: Offers flexible inventory management support especially for deployment, reporting and inventory tracking, according to 100% of reviews on flexibility.
  • Affordable Suite: All reviews on this aspect suggest that it’s an extremely cost-effective software - having a variety of capabilities - in comparison to its competitors.
  • Customer Support: The support offered is extremely helpful, responsive and quick, in the view of more than 95% of reviews on customer support.
  • Streamlined Operations: According to 85% of reviews on this feature, it assists and facilitates inventory management that saves time and improves efficiency.
  • Loads Slow: Loading big data sets is slow at times, though Finale’s team is bringing improvements, as all reviews on the feature reflect.
  • Doesn’t Support iOS Browser: The software doesn’t support Mac and iOS browsers and its interface, according to all reviews on the topic.
  • Lacks FBA Integration: Inability to connect with FBA requires users to set virtual warehouses and inventory levels as well as map sales with a warehouse, as all reviews on the feature indicate.

Key Features

  • Multiple Integrations: Offers integration options with over 40 enterprise platforms including accounting and channel management solutions, marketplace platforms and POS systems such as Shopify, QuickBooks, Amazon and Etsy. 
  • Restock Forecasts: Leverages sales history to dynamically calculate reorders and the best times to request more of a certain item. Automatically calculates reorder points on the basis of desired days of inventory, supplier lead times and sales velocity. Helps optimize inventory space without the fear of a stock outage. 
  • Cost Analysis: Provides overhead view of crucial inventory information. Drill-down capabilities facilitate analysis of helpful metrics such as gross profit margins and the average per unit cost of products. Allows comparing the average cost for a single unit against set retail pricing. 
  • Multi-Warehouse Support: Quickly and accurately view where stock is, when it is moving and ETA through a centralized tracking function. 
  • Barcode Scanning:  
    •  Connect with barcode scanning features present in many warehousing operations. 
    •  Receive out-of-the-box support for picking, transferring, receiving and stock taking to aid in the quick optimization of warehouse space and product location. 
    •  Access printed and displayed reports to search by lot ID or part number as well as maintain component lot ID logs for assembled or manufactured items. 
  • Search Tools: Provides a historical record of vital business intelligence data via a centralized database. Previous sales records can be sorted and analyzed for valuable data that can be used for forecasting and planning. Offers search and filter features, and offers multi-location support by tracking inventory at all locations. 
  • Stock Auditing: Assists with effective stock audits and helps understand any discrepancies in new stock history reports. 
  • Inventory Purchasing: Helps centralize purchases and replenish stock with an individual database. Forecasting tools assist with restock purchase decisions. Also enables receiving partial shipments, creating reconciliation backorders at a later date and more. 
ecomdash
ecomdash
Start Price
$25
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked ecomdash

Ecomdash supports retailers looking for an inventory management and order fulfillment solution that’s easy to use and navigate. It doesn’t print barcodes, a notable drawback since that’s a substantial feature for a lot of online businesses that require help with order processing or inventory. Most reviewers state that it has a steep learning curve for new users. The majority of users also experience bugs in software updates. However, support is quick and effective at resolving such issues. Order processing and data uploads are other pros, aiding greater efficiency according to many reviews. All in all, it’s a good choice for companies that don’t require barcode printing or scanning.

Pros & Cons

  • Integrated Solution: According to 100% of reviews on integration, having tools for sales, shipping and accounting integrated into one platform is a primary advantage of using the software.
  • Easy to Use: The software is quite easy to use and navigate, according to more than 95% of reviews on this feature.
  • Order Processing: According to more than 80% of reviews on this aspect, it streamlines and speeds up order processing and management.
  • Data Uploads: All reviews on this feature note the software lets users easily upload all order listings through a CSV file.
  • Customer Support: More than 65% of reviews on this aspect suggest that it offers quick and helpful support, with many representatives going above and beyond to assist and resolve issues.
  • Doesn’t Print Barcodes: It only generates barcodes but can’t scan or print them, which is a major issue in the view of all reviews on barcode printing capabilities.
  • Bugs in Updates: There are major bugs in software updates sometimes, according to more than 85% of reviews on this topic.
  • Steep Learning Curve: All reviews on this aspect state that there’s a steep learning curve for new users, considering the numerous features and capabilities it has.

Key Features

  • Inventory Management: Streamlines inventory tasks across major e-commerce marketplaces and platforms such as Amazon, eBay, Shopify and more. Capabilities include custom alerts, product SKU mapping, multichannel tracking and automated e-commerce tasks. 
  • Order Management: Enables printing shipping labels, routing orders to third-party fulfillment centers and handling integrated order sale channels from start to finish. Streamlines accounting tasks and facilitates quick fulfillment by routing sales orders from sale channels to warehouses. Provides greater visibility and control over order management. 
  • Dropship Automation: Route new orders to suppliers and manage multiple suppliers more easily by keeping all tracking-related information up to date through hands-off communication across the sales channel. Intuitive feed management helps configure, import and manage supplier inventory using SFTP, FTP or HTTP in predefined formats such as CSV and TXT. 
  • Amazon FBA Management: Supports management for inventory and fulfillment across multiple channels. Saves time and increases sales with internal transfer for complete cycle visibility, shipping label printing for Prime orders on Amazon and automated inbound tracking helps. 
  • Multichannel Listing: Reduces the time and effort spent listing several products for sale across multiple channels. Helps set up inventory, launch a new product line, restock inventory, control quantities and relist products when required. Bulk updates and edit features help change up to 250 item listings at once. 
  • E-Commerce Shipping: Provides detailed insights on canceled, shipped and unshipped orders. Manage multiple carries, get shipping discounts, perform bulk actions and leverage automation for faster deliveries. 
  • E-Commerce Reporting: Supports smarter, data-based business decisions, granting the ability to track current inventory costs, forecast future inventory needs, determine the cost of goods sold, and monitor and analyze sales trends. 
  • E-Commerce API: Build custom applications and leverage the API to connect warehouses and suppliers to route multiple orders, automate sales channel updates and accelerate time-to-market. 
  • Purchase Orders: Helps create purchase orders, share them with suppliers, manage online purchases and track landed expenses at the click of a button. Automation ensures inventory quantities are adjusted when inventory is restocked. 
  • Integrations: Integrates with e-commerce platforms, shipping carriers, POS systems, shopping cart service-providers and marketplaces for sales, inventory and shipping. Offers integration with Amazon, eBay, Shopify, WooCommerce, Walmart, Etsy and more. 
inFlow
inFlow
Start Price
$89
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked inFlow

inFlow is a good option for those looking for a product to assist with inventory management, providing a comprehensive set of capabilities to manage a variety of processes. However, it only works well with small businesses and can be expensive otherwise. Other drawbacks include that it only integrates one way with Shopify and suffers from some bugs. Most users with multiple warehouses find the tool ineffective as well. On the other hand, it has a user-friendly interface and is easy to learn, speeding up user adoption. Users also report that customer service is helpful. All in all, it can be a decent choice for smaller operations.

Pros & Cons

  • User-Friendly Interface: It’s extremely intuitive and easy to use, as 100% of reviews on this aspect indicate.
  • Comprehensive Features: According to all reviews on this aspect, it’s an all-in-one software with a variety of comprehensive capabilities from sales to purchase to inventory management.
  • Customer Service: The customer support staff is supportive, helpful and quick at resolving any issues faced by clients, as more than 85% of reviews about customer service state.
  • Easy to Learn: All reviews on this element indicate that the system has a flat learning curve and is easy to use for new users.
  • Expensive for Large Business: Since pricing is based on the number of orders, it’s only suitable for small and medium sized businesses, according to all reviews on this topic.
  • Integrations and API Access: Offers very limited integrations with third-party applications and no API access, as all reviews on this feature indicate.
  • Multi-Warehouse Use: It can’t handle multiple warehouse properties or inventory storage locations effectively, according to all reviews on this feature.
  • System Bugs: As more than 85% of reviews on this feature indicate, there are a few minor bugs in the system.

Key Features

  • Structured Workflows: Customizable workflows help track important data across the entire sales process. Eliminates or minimizes tedious spreadsheet management, as cost data can be stored for use in tax forms. 
  • Customizable Dashboards: Set up an informative dashboard that meets operational requirements to foster a collaborative, visibility-enabled enterprise. Bring valuable data regarding sales, costs and profits to the forefront and easily view it. 
  • Barcoding: Leverages barcode scanners to generate printable labels that make finding the right item easy. 
  • Detailed Reporting: With over 32 out-of-the-box reports, it makes reporting on sales, inventory and purchasing more efficient. Create detailed and organized reports for customers and vendors alike. 
  • Manufacturing Support: Keeps manufacturing simple with item kitting, assembly cost tracking and accessible bills of materials that track critical inventory information. 
  • Customer Management: Set customer-specific defaults, store contact information and keep detailed order histories for clients. 
  • Purchase and Receive Stock: Process returns, create and manage purchase orders and leverage dropshipping to make purchasing and receiving simple. 
  • Kitting and Assembly: Pick raw materials, build based on product availability, customize builds and bundle products together for shipping. 
  • Re-Ordering: One-click reordering features leverage lead and sales data to display low stock items and create purchase orders. 
  • DropShipping: Allows vendors to ship their products directly to clients when stock isn’t available to fulfill the requirements of a shipment. 
  • B2B Portals: Provides a portal that contains pricing, pictures and descriptions of products. Showrooms are also available to showcase discounted products. 
ShipMonk
ShipMonk
Start Price
$250
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked ShipMonk

ShipMonk is extremely easy to use and navigate as most client reviews suggest. The customer support team is responsive and helpful in resolving challenges. Another benefit is that it provides accurate tracking and billing, which are quite detailed in nature. On the flip side, the lack of a mobile app is limiting and slow load speeds make it challenging to use, according to reviews. However, it offers a comprehensive set of capabilities, thus users need not invest in any other software for handling inventory and orders. This, coupled with its other strengths, make it a solid choice for inventory management software.

Pros & Cons

  • Customer Support: More than 95% of reviews on support indicate that the service team is always friendly, responsive and willing to help resolve any issues that users may come across.
  • Easy to Use: Its simple and intuitive UI is easy to use, according to 100% of reviews on ease of use.
  • Comprehensive Capabilities: It handles inventory management and order fulfillment end to end, note all reviews on this topic.
  • Accurate Tracking and Billing: Every review on this aspect indicates that it delivers accurate and error-free order tracking and billing details.
  • Mobile App: According to 100% of reviews on this topic, there’s no mobile app and it’s cumbersome to navigate and use the browser site on a mobile device.
  • Upload Speed: It’s sometimes quite slow to upload, according to all reviews on this aspect.

Key Features

  • E-Commerce Fulfillment: Map SKUs across all sales channels by leveraging API integrations, high bandwidth that supports up to 10,000 orders per day, automated mapping and item bundling. Includes strategic inventory system designing, with designated storage areas, return management and custom packing options. 
  • Amazon FBA Services: Provides access to FBA services, which include free shipping offers, along with Prime membership order fulfilling entitlements through Amazon. 
  • Warehouse Automation: Helps increase efficiency, experience quicker fulfillment, boost picking accuracy, reduce fulfillment costs and receive secure storage. 
  • Freight Management: Facilitates importing and managing inventory, as well as enables freight coordination, by guiding users through essential documentation. 
  • User Permission: Supports adding other users to client accounts and selecting the data permissions that each user can access. Such permissions can be added, edited and omitted any time. 
  • Data Security: Ensures enterprise-grade data security and exercises all necessary measures to protect user privacy. 
  • Actionable Reports: Provides access to cost reviews, orders and breakdowns of shipment units, including the destination where orders are sent most frequently, all through a single dashboard. 
  • Special Projects: Tasks such as labeling, counting, repacking and quality control of goods that may fall outside fulfillment tasks are categorized as special projects and can be executed through the platform. 
  • Returns Management: Create shipping labels from the dashboard and receive alerts when returns reach the warehouse. Manage multiple types of product returns such as exchanges for a different color or size, quality control, sorting, product assessment and testing. 
Canvus
Canvus
Start Price
$250
Per User, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Canvus

Canvus, a leading inventory management software, has received positive user reviews in the past year. Users appreciate its user-friendly interface, robust feature set, and ability to streamline inventory management processes. Canvus's strengths lie in its real-time inventory tracking, which provides accurate visibility into stock levels and helps businesses avoid overstocking or understocking. The software's integration with other business applications, such as accounting and CRM systems, further enhances its functionality.

Compared to similar products, Canvus stands out with its advanced reporting capabilities. Users can generate detailed reports on inventory levels, sales trends, and other key metrics, enabling them to make informed decisions about inventory management and optimize their operations. Additionally, Canvus offers excellent customer support, with users praising the team's responsiveness and helpfulness. This is particularly important for businesses that rely heavily on inventory management software and require prompt assistance when needed.

Canvus is ideally suited for businesses of all sizes that need to improve their inventory management practices. Its user-friendly interface and robust feature set make it accessible to both small businesses and large enterprises. The software's ability to integrate with other business applications and its advanced reporting capabilities make it a valuable asset for businesses looking to streamline their operations and gain greater visibility into their inventory.

Pros & Cons

  • Excellent Reporting: Canvus allows for customized reporting and analysis, providing users with valuable insights into inventory levels, trends, and performance.
  • Automated Inventory Management: Canvus automates inventory tracking and replenishment, reducing the risk of stockouts and overstocking, and improving efficiency.
  • Improved Collaboration: Canvus enables real-time collaboration between teams, allowing for seamless communication and coordination in inventory management.
  • Scalability: Canvus can accommodate businesses of all sizes and can scale to meet growing inventory needs, making it a long-term solution for inventory management.
  • User-Friendly Interface: Canvus features an intuitive and easy-to-use interface, reducing the learning curve for users and allowing for quick adoption.
  • Limited Customization: Canvus offers limited customization options, making it difficult to tailor the software to specific business needs. This can lead to inefficient workflows and a lack of flexibility.
  • Steep Learning Curve: The software has a complex interface and a steep learning curve, requiring significant time and effort for users to become proficient. This can hinder productivity and adoption.
  • Poor Integration: Canvus struggles to integrate seamlessly with other business systems, such as ERP or CRM software. This can result in data silos, duplicate entries, and a lack of real-time information sharing.
  • Limited Reporting Capabilities: The software provides limited reporting capabilities, making it challenging to generate comprehensive insights and analytics. This can hinder decision-making and business planning.
  • Insufficient Support: Users have reported issues with Canvus' customer support, citing slow response times, lack of expertise, and limited availability.

Key Features

  • Inventory Management: Add new items, edit existing inventory stock levels, enter sales transactions and sales returns, and more with inventory capabilities. 
  • User Management: Set up and activate new accounts, change security for existing users, change passwords, and deactivate existing users. They can also set up each user’s preferred time. 
  • Reporting Management: Manage inventory effectively, leveraging multiple report types, including inventory transactions, current stock count tables and current stock count lists. 
  • Change Management: Gain greater control over existing inventory items, areas, manufacturers and locations by letting users make edits or changes as needed. 
Microsoft Dynamics GP
Microsoft Dynamics GP
Start Price
$185
Per User, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Microsoft Dynamics GP

Microsoft Dynamics GP is a comprehensive solution and offers multiple functions for HR, financial accounting, supply chain management and more. It provides smooth integration with Excel, and an option for additional add-ons. Their customer support team is quick and effective at resolving any issues that users may come across. It’s also user-friendly and easy to navigate. However, new users may experience a sharp learning curve, which is common for a software that delivers features to cover so many business functions. Occasional glitches and bugs, including slowing down when loading large reports, are other downsides that users cite. In short, SMBs looking for a tool with extensive features to manage diverse business processes may find it a good choice.

Pros & Cons

  • Comprehensive Solution: It’s an all-in-one accounting and HR tool with payroll, inventory, supply chain, payables, receivables and other capabilities, as all reviews on this aspect indicate.
  • User Support: More than 70% of reviews on this feature suggest that customer support is fairly prompt and effective.
  • Ease of Use: According to 75% of reviews on this aspect, it has an easy-to-use and navigable interface.
  • Excel Integration: Data and reports are easy to import or export to Excel, as it’s closely integrated with the system, as all reviews on the topic state.
  • Bugs and Glitches: As 100% of reviews about these drawbacks indicate, users have experienced bugs and glitches, and it hangs while loading big reports sometimes.
  • Learning Curve: It’s difficult to adapt and learn for new users, say all reviews referencing the learning curve.
  • Multiple Functions: It’s unsuitable and cumbersome to use for companies that handle multiple functions, as there are a lot of windows to access and manage, according to all reviews on this feature.

Key Features

  • Financial Management: Includes: 
    •  Basic accounting functions such as a general ledger, accounts payable (AP) and accounts receivable (AR). 
    •  Bank reconciliation and fixed asset management. 
    •  Lockbox processing, which automatically inputs and applies customer payment information from a lockbox transaction file to generate accurate AR data. 
    •  Intercompany relationships, multidimensional analysis and AP management. 
  • Business Intelligence and Reporting: Dashboards and reports provide prebuilt analytics directly within the system. More than 400 Excel reports are connected, with the option to customize reports as well. Dashboards can be securely created and shared through Office 365 to analyze information. 
  • Supply Chain Management: Includes bill of materials management, inventory control and purchase order processing capabilities. Automatically generate purchase orders using actual sales, purchasing and inventory data. Track orders, quotes and invoices to speed up the sales process and enhance upsell opportunities. 
  • Human Resource Management:  
    •  HR practitioners can recruit and retain talent through performance evaluation, customized hiring options and pay rate development. 
    •  Payroll can be directly deposited in employee bank accounts through an automated clearing house (ACH) file, with payment data automatically entered to the general ledger through a turnkey solution. 
    •  Supports payroll functionality for companies in the United States and Canada. 
  • Configuration and Development: The service-based architecture integrates with a variety of modules and programs. 
    •  Offers an extended pack and an extended human resources and payroll module to further scope of customization. 
    •  Includes a PTO manager, benefits management and enrollment. 
    •  Offers returns management, materials requirements planning, project accounting and preventive maintenance. 
Stitch Labs
Stitch Labs
Start Price
$499
Annual, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Key Features

  • Integrations: Stitch Labs integrates with a number of applications. Some of these include Shopify, Amazon, Shipstation, Xero and Paypal. There are more available should clients wish to explore other options. 
  • Multi-Warehouse Support: A centralized product tracking system takes many of the pain points of a multi-warehouse operation out of the equation. By always knowing when, where and how your stock is moving around, managing a multi-warehouse operation is efficient. 
  • Order Management: Allowing Stitch Labs to take over some of the time-consuming operational duties frees up valuable time for employees. Let your teams focus more on handling order volume while the platform takes care of tedious tasks. 
  • Inventory Management: Control your inventory from the second you get a product until it makes its way to the customer. Stitch Labs provides tools to track, move and control your stock to optimize your processes.  
  • Planning and Reporting Tools: Stitch Labs gives users valuable data that enables users to plan ahead and make educated decisions. This platform comes with over 60 reports out of the box to fully optimize inventory processes. 
  • Geo Routing: Orders can be routed to fulfillment centers based on their geolocation. Warehouse priority and stock availability can also be used to decide where the optimal location for stock is. 
  • Operations Management: Stitch Labs contains multiple tools designed to control and manage daily activities. Bundling, two-way sync, order splitting and valuable 3PL integrations can all be leveraged to streamline operational efficiency. 

Pricing

License/Subscription Cost Annual subscription costs are based on the size of the company and how many orders are processed per month
Maintenance Cost Included in the subscription cost
Installation/Implementation Cost
  • Depends on subscription tier
  • Includes basic implementation service, product training plus additional optional services
Customization Cost None, users may only select from standard packages
Data Migration Cost/Change Management/Upfront Switching Cost Dependent on current software, amount of data to be migrated and the availability of migration tools
Recurring/Renewal Costs This cost is dependent on your subscription package
QuickBooks Commerce
QuickBooks Commerce
Start Price
$39
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked QuickBooks Commerce

QuickBooks Commerce is a leading inventory management and accounting software for small and medium businesses. Its intuitive and easy-to-use interface and payroll and invoicing features ensure great productivity.

It allows for seamless integration with banks, financial management software, credit cards and more. The software also helps keep track of company bills and expenses, which you can easily download, share and categorize.

Some limitations include long wait for support and lack of direct contact for professional services. The system may experience slowness and lag at times. Integrations with solutions like Xero can also be complicated.

Its pricing plans start from $39 per month, and it offers a 14-day free trial. It offers both monthly and yearly subscription plans. Pricing can vary based on factors like the number of users, sales orders, sales channels and warehouse numbers. However, Its licensing price is high for the basic features provided and monthly licensing can be laborious.

Overall, QuickBooks Commerce is a comprehensive and affordable solution for organizations looking to streamline their inventory and accounting management operations and achieve better ROI.

Pros & Cons

  • User Interface: Around 93% of users said that it provides an intuitive user interface that is easy to learn and navigate.
  • Integration: Intuit and seamless integration with banks, companies and other financial management software provides a great user experience and saves time, as noted by 96% of reviewers who specified integration.
  • Tracking: All reviewers liked that it helps keep track of bills and expenses in an organized manner.
  • Payroll & Invoices: All users liked QBO for its payroll and invoicing feature that provides automatic calculation, easy access, links or PDF sharing, payment reminders and more.
  • Support: Approximately 81% of reviewers said that support can have long wait times and disliked that direct contact to support service is not available.
  • Performance: The system is slow and laggy at times, as mentioned by 80% of users who referred to performance.
  • Licensing: Nearly 81% of users disliked that license costs are high with additional monthly charges for renewal and add-on services.

Key Features

  • Multiple Integrations: Integrate with various third-party platforms, including Xero, Amazon, QuickBooks, Shopify and ShipStation.
  • Inventory Control: Prevent stockout situations, receive automatic stock level updates and create prompt reorders with comprehensive inventory features. Track and organize stock via barcode scanning to speed up the retrieval and storage of products.
  • Multichannel Sales: Use a central location to manage sales through a number of channels. Users can sell through marketplaces, B2C eCommerce, B2B eCommerce and mobile apps.
  • Warehouse Management: Built-in management tools handle all tasks in one place, from receiving shipments to picking, packing, and shipping orders.
  • Order Management: Track orders and sync inventory, customer and supplier information through one system. Access sales reports in real time while quickly and accurately fulfilling orders.
  • Manufacturing Support: The manufacturing module lets users manage all assembly and sales tasks while allowing for the creation of production and parts orders as well as bills of materials.
  • Fulfillment Automation: Access stock takes, barcode label printing and barcode scanners. Also, automate fulfillment processes like pick, pack and ship.
  • Inventory Optimization: Businesses can integrate their Lokad account, available in the app store, with the system to optimize inventory with demand forecasting. Lokad can automatically calculate the number of reordering units needed for a business based on their inventory records. Stock is reordered when inventory levels hit preset reorder units.
  • Price List Management: Add or change product prices using the price list importer and assign price lists with special discount rates for selected customers. Set price breaks and access custom price lists on the go via the mobile app.
  • Sales Reports: Use sales reports listing all important details and statuses. Filter them by product, variant, customer, sales representative, channel, location and time period. Sales reports assist with analyzing sales channels, monitoring performance, identifying sales trends across customers and products, calculating commissions, and more.
  • Manufacturing Support: Create bills of materials for finished goods, including the creation and management of production orders. Alert users about insufficient stock, support batch tracking and automatically reconcile production run efficiencies with accounting apps.

Pricing

License/Subscription Cost
  • The upfront cost of this product includes customization, integration and the monthly per-user subscription fee
Maintenance Cost
  • This is included in the subscription cost
Installation/Implementation Cost
  • This cost is based on the type of pricing plan chosen
Customization Cost
  • Included in the subscription cost and varies depending on the subscription plan chosen
Data Migration Cost/Change Management/Upfront Switching Cost
  • Depends on the existing software, how much data needs to be migrated, the availability of migration tools, the complexity of data being moved and the gaps between the existing and new systems
Recurring/Renewal Costs
  • A recurring monthly fee is charged at the beginning of the month and includes maintenance, monitoring, upgrades, training and support
Ordoro
Ordoro
Start Price
$349
Monthly, Freemium
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Ordoro

Is Ordoro in order when it comes to inventory management? Users overwhelmingly agree that it is! Ordoro receives high praise for its user-friendly interface, making even complex tasks like managing inventory across multiple sales channels a breeze. Its robust features, particularly the "kitting" function, which allows for efficient bundling of multiple products, are repeatedly commended for streamlining operations and saving businesses valuable time. Users especially appreciate the seamless integration with popular e-commerce platforms like Shopify and Amazon, simplifying order fulfillment and inventory tracking.

However, no software is without areas for improvement. Some users suggest that Ordoro could benefit from enhanced reporting features to provide more in-depth insights into sales trends and inventory performance. Additionally, expanding carrier options, especially for international shipping, would further solidify Ordoro's position as a comprehensive solution. Despite these minor suggestions, Ordoro consistently earns accolades for its exceptional customer support, with users highlighting the team's responsiveness, expertise, and willingness to go the extra mile.

This powerful combination of an intuitive interface, robust features, and stellar customer support makes Ordoro an ideal choice for businesses of all sizes, particularly those juggling online sales across multiple platforms. Whether you're a seasoned e-commerce veteran or just starting out, Ordoro provides the tools and support needed to efficiently manage inventory, streamline operations, and focus on what matters most – growing your business.

Pros & Cons

  • Real-Time Inventory Tracking: Ordoro provides real-time inventory updates across all sales channels, ensuring accurate stock information.
  • Multichannel Management: The platform allows users to manage inventory from various sales channels in one central location, eliminating the need to switch between different platforms.
  • Kitting Functionality: Ordoro's kitting feature enables users to create and manage product bundles, simplifying inventory tracking for multiple SKUs sold as a single unit.
  • Kit/Bundle Accuracy: Some users have expressed concerns about inaccuracies in the calculation of kit/bundle totals, which can impact inventory and order fulfillment.
  • Product Information Editing: Limitations in editing product information have been reported, potentially hindering efficient product management and updates.
  • Advanced Features Tied to Higher Plan: Access to advanced inventory management features often necessitates subscribing to the more expensive Pro plan, which may not be budget-friendly for all businesses.

Key Features

  • Shipping Management: Automate and manage shipping experiences, from processing shipments to order fulfillment. Add tags to orders and monitor shipping activities and updates, all within one unified space. Enable auto-audit and access real-time insights on shipping metrics. 
  • Inventory Management: Seamlessly integrate across various marketplaces, shipping partners and more, all within a centralized space. Manage, organize and track various warehouses, from 3PL operations to dropshipping management. Control overselling by setting a specific limit on products visible to customers. 
  • Multichannel Management: Seamlessly sync and combine API-integrated channels, sales channels and CSV files. Optimize workflows within a single centralized, multichannel tool. 
  • Barcode Scanning: Generate scannable barcode labels to expedite shipping processes. Scan shipment orders to increase accountability and minimize human errors. 
  • Automation: Keep tabs on products using auto-sync tools. Process and configure shipping fulfillment and replenish stock using built-in automation. Navigate options like auto-routing and order splitting for a seamless, automated workflow. 
  • Bundling: Automate, create and combine bundles based on varying fractional quantities and components. Merge two different kit SKUs while maintaining unique scannable barcodes. 
  • Reports & Analytics: Access detailed insights on finances regarding orders and suppliers. Monitor inventory turnover ratios and estimate ROIs for certain products. 
  • Supplier Management: Exercise a hands-off approach while suppliers directly manage orders. Enable multiple vendor portals for each supplier and help retrieve feeds via email, web and file transfers. Create and track purchase orders using goods receipts. 
  • Shipping Insurance: Insure products and file for claims to cut back on losses in case of any mishaps. 
  • Returns: Enable seamless return management by creating RMAs, tracking order statuses and opting for restock options once an item is returned. Provide return labels to customers via email along with added instructions for return. 

COMPARE THE BEST Inventory Optimization Software

Select up to 2 Products from the list below to compare

 
Product
Score
i
SelectHub’s Analyst Rating is based on data from our 400+ point analysis of Inventory Optimization Software, user reviews, and our own crowd-sourced data from our free software selection platform. Scores are periodically updated via ongoing selection projects and user activity within our platform.
Start Price
Free Trial
Company Size
Deployment
Platform
Logo
Zoho Inventory
$59
Monthly, Freemium
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Zoho Inventory
Finale Inventory
$99
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Finale Inventory
ecomdash
$25
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
ecomdash
inFlow
$89
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
inFlow
ShipMonk
$250
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
ShipMonk
Canvus
$250
Per User, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Canvus
Microsoft Dynamics GP
$185
Per User, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Microsoft Dynamics GP
Stitch Labs
$499
Annual, Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Stitch Labs
QuickBooks Commerce
$39
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
QuickBooks Commerce
Ordoro
$349
Monthly, Freemium
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Ordoro

All Inventory Optimization Software (46 found)

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Logiwa

by Logiwa
Logiwa
Logiwa is cloud-based integrated software that supports and optimizes warehouse operations. It provides tools to automate order fulfillment, inventory management, multi-warehouse processes and more. It offers enterprise-level functionality and multiple integrations in retail, eCommerce, wholesale and 3PLs.Its top features include advanced receiving, picking, putaway, shipping and purchasing, along with barcoding and reporting modules. It also offers returns management, inventory counting, and inventory valuation and control capabilities. The platform lets you sync multichannel inventory and orders to improve warehouse efficiency, reduce operational costs and increase margins.Our data shows that Logiwa WMS excels in reports and dashboards. It offers a wide range of customizable reports to visualize key performance indicators (KPIs) and track warehouse performance in real time. Additionally, Logiwa's intuitive dashboard interface makes it easy to create and share custom dashboards.It doesn’t offer a free trial, but you can request a demo at no cost. The pricing ranges from $100 to $500 per month, depending on the company’s size, type and requirements. This flexible pricing makes it ideal for businesses of all sizes.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Lightspeed

by Lightspeed
Lightspeed
Lightspeed is a cloud-based point-of-sale (POS) system offering features for businesses in retail, hospitality, and service industries. Its core functionality includes managing sales, inventory, customers, and employees, with additional features like marketing tools and reporting. While suitable for various business sizes, it often caters to those needing more advanced features than basic POS systems. Lightspeed shines in its scalability and omnichannel capabilities, allowing businesses to manage online and physical stores seamlessly. Users praise its intuitive interface, robust reporting, and app integrations. However, some find its pricing structure complex and miss features like offline functionality. Compared to similar POS systems, Lightspeed offers a wider range of features and integrations, but at a higher price point. It caters to businesses seeking a feature-rich solution for managing their omnichannel presence, while simpler and often cheaper options might suffice for smaller businesses with basic needs. Pros Scalable Omnichannel Intuitive Interface Robust Reporting App Integrations Feature-Rich Cons Complex Pricing No Offline Mode Steeper Learning Curve Not Ideal for Basic Needs Higher Price Point
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Megaventory

by Megaventory
Megaventory
Megaventory is a cloud-based solution that helps manage stock and is designed for operations of all sizes, with a focus on streamlining operational processes. Robust reporting and manufacturing features provide valuable access to operational data that can be leveraged toward planning and forecasting. It offers several integrations that let users continue using workflows that fit their unique requirements. It supports value-added services such as kitting while also strengthening fulfillment practices.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

ShippingEasy

by ShippingEasy
ShippingEasy
ShippingEasy is a cloud-based SaaS (Software as a Service) solution that simplifies the shipping experience. It automates shipping processes and seamlessly integrates with major eCommerce stores, like Amazon, Etsy and eBay, and medium-sized marketplaces. This unifying feature tracks orders, prints labels, records shipping information and offers discounted shipping prices, all within one platform.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Delivrd

by Delivrd
Delivrd
Delivrd is a cloud-based solution that helps organizations execute inventory control, management and order fulfillment. It provides retailers with a straightforward experience for all their needs, from raw material sourcing and managing inventory, to product picking and packing, to shipping of final goods. It can be used in multiple ways, such as for simple inventory functions, a replacement for Excel, direct selling to customers and via a complex, end-to-end order fulfillment process. Leveraging it allows users to spend fewer hours on manual labor, reduce customer returns, and enhance customer satisfaction and brand loyalty. The extensive application of barcode labels makes shipping quick and less prone to errors. An address validation feature that is based on Google Maps comes is also included for free.
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

HandiFox

by HandiFox
HandiFox
HandiFox offers inventory and sales management solutions that enable businesses to automate their inventory processes and sales. It integrates with QuickBooks Online to provide accounting functionality. Some of its features include sales and purchase orders tracking, invoicing, inventory control across multiple locations, payments, shipment verification at the time of pick and pack, and more. It lets users generate, scan and print barcode labels. The mobile device’s built-in camera, with a laser scanner or a Bluetooth connected scanner, can help read barcodes from all products.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Multiorders

by Multiorders
Multiorders
Multiorders provides cloud-based inventory, multichannel order, shipping management and supply chain capabilities for e-commerce sellers and SMEs. It offers integration with multiple shopping carts, shipping carriers and e-commerce marketplaces, such as Shopify, Etsy and BigCommerce. It lets users leverage stock levels control and prices for multiple supply channels, effectively manage Amazon FBA (Fulfillment by Amazon) items and ship from several warehouses using an individual dashboard.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

ShipBob

by ShipBob
ShipBob
ShipBob is a SaaS (Software as a Service) third-party logistics provider for eCommerce stores. It offers hassle-free shipping at affordable rates. Users can streamline operations, automate return orders and manage inventories while tracking orders. It is suitable for small- and medium-sized businesses.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Pirate Ship

by Pirate Ship
Pirate Ship
Pirate Ship is an easy-to-learn, web-based shipping platform that specializes in finding reduced rates for USPS shipping. There are no hidden charges, price markups or monthly dues. It is ideal for small- and medium-sized businesses and startups. It makes shipping accessible from the comfort of home, as it provides all the tools and information required for creating and printing individual or batch postage labels, tracking deliveries and locating discounts.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Lightspeed Retail

by Lightspeed
Lightspeed Retail
Lightspeed Retail, formerly Vend, is a cloud-based point-of-sale (POS) system suited for small and medium-sized businesses in retail, hospitality, and service industries. It offers core features like sales management, inventory tracking, customer profiles, and reporting, with additional options for ecommerce integration, marketing tools, and employee management. While praised for its user-friendly interface and omnichannel capabilities, some find its pricing complex and miss advanced features like offline functionality compared to competitors. Starting prices range from $69/month (billed annually) for a basic plan, with per-transaction fees and additional costs for advanced features and multiple registers. Pros User-friendly interface Omnichannel capabilities Robust features Integrations with popular software Scalable for growing businesses Cons Complex pricing structure Limited offline functionality Lacks some advanced features Steeper learning curve for less tech-savvy users Customer support wait times can be long
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

TRXio

by Cairnstack Software LLC
TRXio
TRXio is an asset tracking and management platform that is available as a cloud-based solution for businesses of any size. Provides real-time tracking of inventory, shipments, purchases and product usage throughout the warehouse or storage facility. Designed to organize inventory and create a consistent storage process, helps clients save money and improve employee accountability.By drilling down into daily inventory processes, TRXio can help cut down on manual tasks while discovering where an operation is having issues. Discover where employee time is being lost while optimizing included workflows to strengthen weak points.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Sellbrite

by GoDaddy
Sellbrite
Sellbrite is a multi-channel platform that helps online sellers manage orders, listings and inventory across various channels under a one-stop shop. It is free to use for 30 days without any dues. It automates and seamlessly integrates with some major eCommerce stores like Amazon, eBay and Walmart as well as other medium-sized businesses.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Sortly

by Sortly
Sortly
Sortly is a cloud-based, streamlined inventory application and asset tracking system. This remote visual tracker tracks items based on the item name, description, code, price, etc. It is free to use but also offers paid options for additional capabilities. Scheduling reminders and alerts, adding custom tags and monitoring user activity are some of its important aspects.
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Shopventory

by Shopventory
Shopventory
Shopventory is a cloud-based SaaS solution that streamlines data within one centralized location. Its multi-channel capabilities serve small- to medium-sized ventures. It automates processes and seamlessly integrates with PayPal, Shopify, WooCommerce and more. It offers the ability to order and track inventory, sync with QuickBooks, initiate voice command using Alexa, manage sales and automate financial reports. Eliminating manual labor and automating workflows, it provides a seamless shipping experience.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

ShipHero

by ShipHero
ShipHero
ShipHero is a cloud-based, order fulfillment management software that primarily caters to eCommerce ventures and 3PL operations. It provides seamless integration with multiple applications and offers a streamlined ordering process. With automation and real-time inventory visibility, it also offers advanced order and return management, barcode scanning, tracking updates, and much more.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Craftybase

by Stocksmith
Craftybase
Craftybase is a cloud-based inventory management, bookkeeping software. It provides real-time pricing guides while keeping track of profit updates and automates the process of replenishing stock levels and monitoring manufacturer data, all within one centralized database. It seamlessly integrates with major eCommerce organizations like Shopify, PayPal, WooCommerce and Amazon. It also helps track revenue and invoices, manage orders, suggest pricing guidelines, and evaluate inventory levels.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Korber

by Korber
Korber
Korber provides end-to-end solutions to meet consumer demands and enable industries to conquer logistics challenges. Powered by the cloud, it uses unique modules like voice, vision, mobility and robotics to redefine supply chains worldwide. It offers a broad range of warehousing needs and customized requirements to address small and medium-sized enterprises. Its integrated resource with ERP, yard and transportation management optimizes end-to-end processes.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Bellwether

by Bellwether Software LLC
Bellwether
Bellwether software enables businesses to eliminate all steps involved in manual purchasing and inventory management by using controlled and automated capabilities to streamline processes. It eliminates the need to do phone calls, send emails, or use spreadsheets and verbal approvals. Features include reporting, asset and contract management, requisitions, budgeting and approvals, purchase orders and more. It’s available in SQL and Express versions. The PMS’s SQL version requires Microsoft SQL Server 7.0 or higher installed on the user's server, while the Express version requires no additional database since it uses server technology. It provides an account payable interface, inventory capabilities, PO functionality, receiving features, RFQ and a warehouse management module.
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Netsuite Inventory Management

by NetSuite, Inc.
Netsuite Inventory Management
NetSuite Inventory Management is a cloud-based organizational platform focused on stock optimization, manufacturing and purchasing. It works well with businesses of all sizes. Users who adopt it can streamline their operations and move products to the right place at the right time while cutting costs. Users can also improve customer service by leveraging stock management and fulfillment capabilities. The variety of purchasing and management features provided can help users keep up with demand and create an efficient inventory space.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Inform ERP

by Advantive
Inform ERP
Inform ERP is a software solution that helps with distribution, production and financial activities. It integrates these processes to automate and streamline operations across various aspects of a business. Its financial management tool coordinates with production workflows so that as transactions are made, they are automatically inputted to the general ledger. It also allows users to plan transportation logistics and look at factors such as volume and necessary stops when planning routes. This program further enables users to optimize the supply chain through visualization and control of a variety of processes. Users can benefit from personalized dashboards that leverage real-time data so that quicker and more relevant insights can be developed.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Buyer's Guide

Inventory Optimization Software Is All About Streamlining the Supply Chain  

By Amrita Chakraborty, Content Writer and Market Analyst at SelectHub

Inventory Optimization Software BG Intro

One of the most important aspects of inventory management systems is to optimize the inventory tracking process. From automating inventory policies to managing stocks at a neutral level, the primary function of inventory optimization software is to streamline the supply chain management processes seamlessly.

In this guide, we discuss a detailed overview of everything you need to know about inventory optimization systems. Hopefully, by the end of this, you will have a clear understanding so you can pick your own inventory optimization software.

Executive Summary

  • Inventory optimization platforms help predict changes in supply and demand.
  • From retail to manufacturing and service-oriented industries, inventory optimization software has its reach everywhere.
  • Investing in inventory optimization software helps reduce overhead costs for maintenance and storage.
  • Improves customer satisfaction that results in prompt service and product delivery.

What This Guide Covers:

What is Inventory Optimization Software?

How do you find the sweet spot between over- and under-stocking your inventory levels? Manually maintaining item lists and risking over-stocking your inventory are things of the past now. The solution is inventory optimization, which lets you set an ideal inventory level.

Based on your inventory, you’ll require different optimization strategies and methodologies to set a service level target. The goal is to optimize inventory with a minimum amount of capital. Considering supplier lead schedules, seasonality and automation, inventory optimization is an important part of the inventory management process.

Primary Benefits

Implementing an inventory optimization solution into your organization leads to a seamless provider experience. From managing and tracking inventory to increasing ROI, discussed below are some of the primary benefits of inventory optimization.

Improve Cash Flow

With probabilistic forecasting that accurately forecasts future demands, IM optimization platforms help prevent stock-outs and minimize overspending. This helps to cut back on storing and handling costs and eliminates stock wastage, which in turn ensures maximum use of warehouse space.

Enhance Customer Experiences

The prime goal of any flourishing business is to have a satisfied customer base. But how do you go about retaining customers? By keeping your inventory well-stocked at all times, of course! This ensures customer loyalty and satisfaction.

Inventory Optimization Software Categories

Home Health BG Header

Leverage Detailed Insights

With visibility across all levels, you get deep business insights based on detailed, analyzed reports that help provide accuracy when it comes to the production process. Having a complete report on which products to focus on and improve allows you to prevent inefficiency in organization.

View Accurate Inventory Levels

Automatically update your list of sold products in real time to prevent overselling. This allows an accurate view of inventory, including stock levels and software updates. Eliminating the manual process of employee inputs prevents unnecessary errors.

Key Features & Functionality

Demand Forecasting

Why calculate forecasts in spreadsheets when you can automate the SKU management process? Demand forecasting prevents stock-outs and allows users to modify, evaluate and forecast future demands based on certain key aspects like promotions, seasonality and trends.
Inventory Levels

This feature is closely related to demand forecasts, which are taken into consideration while calculating the accuracy of inventory levels. It helps provide data-driven solutions while regulating maximum profit.
Alerts

This feature allows you to enable notification alerts in your device in the form of texts or emails in case of low stocks.
RFID The use of RFID technology in inventory optimization helps improve operational productivity. Adding RFID tags to your products secures them and helps track them using IoT devices.
Reporting

Access a customizable dashboard to easily track inventory, maintain stock levels and generate reports based on purchase orders, sales and production cycle metrics to make informed decisions.
Inventory Tracking

Track inventory in real time using SKUs to locate and identify them in different warehouses easily.

Software Comparison

The first step towards finding the appropriate software is to know your company’s requirements and understand the underlying technology. Understanding its workings is important in order to build trust amongst end-users and yield results.

The inventory management market is expected to reach a value of $3.82 billion by 2028, growing at a CAGR of 6.12%.

Inventory Management Market Growth

Inventory optimization software, falling under the inventory management umbrella category, will also see some of that growth. Knowing what you need from a system is vital, especially when so many options are available.

Before investing in inventory optimization software, there are certain things you need to keep in mind:

  • Whether or not it’s compatible with mobile and other devices.
  • Purchase, implementation and maintenance costs.
  • Integration with both online and offline stores.
  • If it seamlessly incorporates company workflows.

Having a basic idea of what you need in inventory optimization software will help you choose from our list of top software vendors.

Pricing Considerations

Depending on the specific industry and deployment strategy, the price of your inventory optimization software can be a one-time payment or monthly or annual subscriptions.

On-premise solutions typically come at a one-time licensing purchase. However, they may require additional hardware like servers, which needs to be factored into cost considerations. On the other hand, cloud deployment often comes at a monthly or annual subscription cost.

While the initial entry costs may be lower than on-premise solutions, total cost of ownership (TCO) could be higher over a longer period depending on the subscription price and if the vendor charges more per user.

It is important to choose an inventory optimization software that caters to your enterprise's needs.

The Most Popular Inventory Optimization Software

Listed below is a brief overview of some of the top inventory management systems curated by our research team.

Fishbowl Inventory

Used to streamline supply chain processes and automate manufacturing operations, Fishbowl Inventory is a cloud-based solution that primarily serves small to large-scale industries. It helps enhance production capabilities with features like asset tracking, inventory management and multi-currency functionality.

Fishbowl Inventory

Create product trees using Fishbowl Inventory.

ASAP Systems

Gain complete inventory control and efficiently handle its various levels, data and stock distributions using ASAP Systems. Its inventory and asset tracking capabilities are supported through both cloud and on-premise client servers. Some of its features include asset maintenance, inventory kitting, creating customizable reports and more.

ASAP Systems

Use ASAP Systems to access your recent transactions.

Zoho Inventory

Using Zoho Inventory’s integrations, manage your inventory, finances, shipments and more within one centralized database. Access real-time updates and gain complete visibility across all levels making the inventory management process seamless. Features like inventory control, warehouse management and multichannel selling help inventory optimization.

Zoho Inventory

Handle sales returns using Zoho Inventory.

 

Questions to Ask Yourself

Use these questions at the outset for internal conversations:

Inventory Optimization Key Questions to Ask

  • What is my business type?
  • What is the overall budget?
  • What goals do I want to accomplish?
  • Do I need on-premise or cloud-based deployment?
  • What features are required?

Questions to Ask Vendors

Use these questions as a starting point for conversations with vendors:

  • Is the system scalable?
  • Does it support integrations? Is there any implementation support provided?
  • Does it offer mobile capabilities?
  • Are the generated reports customizable?
  • Which industries do you serve?

In Conclusion

With proper implementation, inventory optimization software can transform your supply chain processes. Having a clear idea of how much stock to reorder will help minimize wastage, improve customer loyalty and increase the scope for profits. To get a detailed analysis of the current top market players, you can refer to our comparison report.

About The Contributors

The following expert team members are responsible for creating, reviewing, and fact checking the accuracy of this content.

Ryan
By Ryan McElroy
Technical Content Writer
Ryan McElroy is a Content Editor and Senior Market Analyst at SelectHub who writes and edits content on various software types, along with their broader concepts and the industries they serve, including medical, construction, CMMS, supply chain management and legal. He studied at the University of Missouri (Mizzou) and earned his BA in Journalism in 2016. During his free time, you’ll find Ryan playing video/card/board games, sipping coffee and reading speculative fiction, or listening to music his loved ones often describe as “headache-inducing.”
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Mohit
Technical Research By Mohit Hariramani
Senior Analyst
Mohit has a degree and Master in Finance from Mumbai, India, his years of professional market research experience started in 2019. His expertise lies in categories such as Enterprise Resource Planning (ERP), Manufacturing, Inventory Management, Manufacturing Execution Systems (MES), Facility Management Software (FMS), POS Systems (Point of Sale) and more. Through his academic and professional background, he honed skills in attention to detail, navigating ambiguity, and analytical prowess, which uniquely equip him to manage and thrive in the dynamic landscape of these diverse categories. He's passionate about leveraging his knowledge and experience to contribute effectively to the assigned technology areas.
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Kankana
Technical Review By Kankana Kalita
Principal Analyst
A seasoned business and research analyst, Kankana Kalita specializes in ERP, CMMS, manufacturing, construction, supply chain, HRMS and CRM. Prior to joining SelectHub, she earned a Bachelor's degree in Computer Science and Engineering, an MBA in Operations and Marketing, and worked in email marketing and logistics.
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Hunter
Edited By Hunter Lowe
Content Editor
Hunter Lowe is a Content Editor, Writer and Market Analyst at SelectHub. His team covers categories that range from ERP and business intelligence to transportation and supply chain management. Hunter is an avid reader and Dungeons and Dragons addict who studied English and Creative Writing through college. In his free time, you'll likely find him devising new dungeons for his players to explore, checking out the latest video games, writing his next horror story or running around with his daughter.
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