Top Inventory Management Software for Retailers

Did you know, 43% of small businesses don’t track their inventory well? They either don’t do it or use manual ways. But, by adding a good inventory system, you can change how you handle stock. It can make operations smoother and boost customer happiness. This article looks at the top retail inventory systems for 2024. It helps you pick the best software based on expert reviews and what users say.

Key Takeaways

The best inventory management software ranges from $0 to $249 per month, catering to diverse retail needs.
Cin7 stands out as the best overall, starting at $349 per month, offering extensive features and integrations.
Zoho Inventory provides great value with a robust set of features, starting at $29 per month.
Ordoro excels in multichannel selling, offering an affordable and scalable solution.
Sortly is ideal for small retailers and asset tracking, with a highly customizable and user-friendly interface.

Forbes Advisor’s Small Business team really looked into this. They found the best inventory systems by checking the cost, features, and how happy users are. Let’s see how these can make your retail business better in 2024.

What is Inventory Management Software?

Inventory management software is a tool that keeps track of products. It makes sure businesses always know what they have in stock. This is important for sellers to not run out of items customers want or have too much of something. It helps companies be more efficient and keeps their customers happy.

Definition and Basic Features

A top-rated inventory management platform usually has key features. These are meant to make managing stock easier:

Barcode scanning: Makes it easy to know what each product is.
Consolidated inventory management: Allows control of all stock from one place, even if it’s in different stores.
Real-time tracking: Lets users see how much is available at any moment.
Low-stock alerts: Warns when products are running out.
Automated reordering: Makes new orders automatically when stock is low.

All these features are crucial for a good inventory software. They help keep track of items in stores.

Importance in Retail Business

For retail, inventory software is a big deal. It ensures there’s enough stock without wasting space or money. It’s key for running a tight ship and meeting customer needs.

Helps avoid too much or too little stock to save space and money.
Provides data to make smart decisions.
Makes sure products are always available and shortens wait times.
Integrates all processes, from ordering to selling, for smoother business.

Having the right inventory system can boost profits for retailers. It also improves the shopping experience. A good system offers insights that help businesses thrive.

Cin7: Best Overall Inventory Management Software

Cin7 is known for its wide range of features, making it the best choice for managing inventory. It is a top option for retail inventory needs. Cin7 makes handling inventory easy and helps improve accuracy.

Key Features

There are several key features that make Cin7 great for managing inventory.

It can connect with over 40 popular software tools.
It supports over 700 different integrations.
Cin7 can handle a large number of products and orders from different channels.

Benefits for Retailers

Cin7 offers many benefits for retailers. It improves how well you know your inventory and makes customers happier.

Inventory accuracy is greatly improved, reducing errors down to a minimum.
It makes day-to-day operations smoother, from buying stock to tracking expiration dates.
Real-time stock info helps you make quick decisions for your business.
There are different pricing options for different store needs, whether you sell to the public or other businesses.
It has been recognized as the best by top sources like Forbes and U.S. News.

Provider	Plans	Pricing (per month)
Cin7 Core	Standard to Advanced	$349 – $999
Extensiv Order Manager	Merchant to Master Account	$39 – $199
inFlow	Entrepreneur to Enterprise	$110 – $1,319
Fishbowl	Warehouse to Manufacturing	$329 – $429
Ordoro	Essentials to Premium	$0 – $149

Ordoro: Best for Multichannel Sellers

Ordoro stands out as the top choice for managing inventory across different sales channels. Thanks to its strong integration abilities, it’s a reliable choice. As businesses grow, so do the number of suppliers and customers. Ordoro keeps up, making it a key software for managing inventory.

Integration Capabilities

Ordoro shines because it connects easily with many platforms, from online stores to shipment services. This ease makes managing items across several channels simple. It’s great for small companies. They can use tools like easy inventory tracking and barcode scanning, preventing mistakes and making work smoother.

Besides great integration, Ordoro gives a range of tools for multichannel sellers. They can bundle orders, send purchase orders easily, and update stock instantly on different sales sites. With Ordoro, businesses run better and customers get their orders more accurately.

Pricing and Plans

Ordoro has many plans to fit different business types and sizes. New users get a 30-day free trial to learn all about the software with no cost. After that, you’ll find various plans to pick from, depending on your needs. The pricing is fair and grows with your business.

Also, Ordoro stands by its users for life, ensuring they make the most of the software. It focuses on helping small to mid-sized companies. The pricing reflects this, being both affordable and full of useful features. These features keep the workflow for managing inventory smooth across different channels.

inFlow: Best for B2B and Wholesale Businesses

inFlow is specially made for B2B and wholesale businesses. Its features meet the specific needs of these areas. That’s why many companies choose it.

Feature Highlights

The inFlow inventory features for B2B and wholesale are packed with tools. You get multi-location handling, barcoding, and detailed reports on stock. Plus, inFlow’s Showroom boosts selling by cutting manual work on orders.

This makes operations smoother and keeps stock and prices up to date. This accuracy is vital.

There’s a key feature for making unique Showrooms for different customer groups. These portals have special prices, making sales more personal. In the US and Canada, inFlow Pay lets customers pay online with a small fee per order.

Also, it tracks and sends reminders for items left in the cart, helping to close more sales.

Scalability and Flexibility

InFlow software can grow with your business. It fits companies of all sizes and stages. With various price plans, it’s perfect for those wanting to expand without changing platforms.

If you’re not sure, there’s a free 14-day trial. This gives you a chance to see how inFlow fits your needs first. It’s a solid choice for managing inventory in the B2B and wholesale world.

Zoho Inventory: Best Value

Zoho Inventory is a top choice for retailers. It’s known for being both economical and packed with features. Businesses find it great for syncing inventory across various channels and for its detailed reports.

It’s perfect for smaller and medium-sized businesses.

Free vs. Paid Options

At Zoho Inventory, there are plans for everyone’s budget and business size. Here’s what they offer:

Free Plan: Startups and small businesses love this. It offers up to 50 orders a month, supports 1 user, and offers storage for 1 warehouse.
Standard Plan: It costs $29 a month when you pay for a year. It comes with support for up to 500 orders monthly, allows 2 users, and still has 1 warehouse.
Professional Plan: For more extensive needs, there’s the $79/month plan. It handles 3000 orders a month, allows 2 users, and supports 2 warehouses.
Enterprise Plan: Big businesses might go for this at $249 a month. It comes with the capability to handle up to 15000 orders every month. Plus, 7 users and 7 warehouses are supported.

Customers love features like alerts for low stock, tracking via barcode and RFID, and the smooth flow of sales orders and invoices. This boosts how efficiently businesses run.

Integration with Zoho Suite

Zoho Inventory’s link with Zoho’s other apps is a plus. It works well with Zoho Books, Zoho CRM, and Shopify, making data sharing easier. This, in turn, improves business processes.

Users are thrilled with its quick report generation and tools for better item packing. They also like that they can see real-time shipping rates and print shipping labels. Zoho Inventory works with over 30 shipping companies.

Used globally by thousands, it integrates smoothly with big e-commerce platforms like Etsy, Amazon, and eBay. Its wide range of features confirms its status as a key tool for managing inventory.

Plan	Orders/Month	Users	Warehouses	Price (Annual Billing)
Free Plan	50	1	1	Free
Standard Plan	500	2	1	$29/month
Professional Plan	3000	2	2	$79/month
Enterprise Plan	15000	7	7	$249/month

In the end, Zoho Inventory’s rich feature set, varied pricing, and integration with Zoho’s suite make it a must-have. It offers great value and boosts inventory management efficiency for retailers.

Sortly: Best for Small Retailers and Asset Tracking

Sortly is perfect for small stores that need to keep track of items. It’s great for managing stock and assets. The mobile app is easy to use and helps make inventory management simple and effective.

Mobile App Features

For small retailers, Sortly’s mobile app is a big deal. It can scan barcodes quickly and manage items easily from your phone. It includes features like:

Photo-Based Organization: You can track items with photos and keep a log of what has happened to them.
Offline Access: It works fine without the internet, which users really like.

Many businesses choose Sortly for its smooth inventory tracking. They find it easy to keep track of their inventory.

User Experience

The Sortly user experience gets a lot of praise. It’s simple and clear, perfect for all levels of tech know-how. Some top features are:

Setting up folders and choosing fields
Adding labels to items
Getting your own alerts and reports just how you want them

These tools help organize inventory better and save time. Sortly also works well with QuickBooks Online. It connects easily with other apps through its API and uses secure automatic cloud syncing and Single Sign-On (SSO) features. Many users say they love how it keeps an eye on their inventory and shows them the latest info.

Katana: Best for Manufacturers

Katana is known as the top inventory management software for manufacturers. It links easily with famous eCommerce platforms. Think Shopify and BigCommerce. This makes managing sales and stock a breeze.

Katana’s manufacturing advantage shows in tracking stock and item movements. It works across many warehouses with real-time data. This stops stockouts and overstock. The software makes keeping the right inventory levels easy.

Katana provides tailored onboarding for each business. You get a special onboarding manager, custom workflow, and data migration help. There’s also a dedicated customer success manager. Plus, Katana Academy offers a ton of resources, like video tutorials and guides.

Katana’s pricing plans fit different business needs, starting with a Starter option costing $179 per month. It goes up to the Professional Plus level, which is $1,799 a month.

Plan	Monthly Cost (Annual Billing)	Annual Cost	Onboarding Fee
Starter	$179	$2,148	N/A
Standard	$359	$4,308	$999
Professional	$799	$9,588	$1,249
Professional Plus	$1,799	$21,588	$1,499

Users love Katana Cloud Inventory for its ease, support, and value. Out of 167 reviews, 122 were 5 stars. This shows its power as a streamlined manufacturing software. But, some warn about changing prices, saying clearer communication is needed.

Overall, Katana is a top tool for manufacturers. It helps make operations better and more efficient.

ShipBob Merchant Plus: Best for Hybrid Fulfillment

ShipBob Merchant Plus is the top pick for retailers needing hybrid fulfillment. They boast a high rate of on-time orders and order accuracy, making them very reliable. Thanks to this, managing logistics becomes easy and smooth.

Fulfillment Network

ShipBob has over 50 fulfillment centers in six countries. This includes the US, Canada, Europe, and Australia. They help brands reach various markets, with most US orders delivered in just two days. This quick service leads to happier customers and lower shipping costs.

Custom Solutions

ShipBob offers tailored services to meet the specific needs of each retailer. They focus on branding and improving the customer experience. Companies like Vision Investments and TB12 have seen rapid growth with ShipBob’s help. Using Inventory Planner for tracking, ShipBob excels at fulfilling intricate needs.

ShipBob is always innovating and has won several awards, including being named the #1 Fulfillment Service in 2024. This makes the ShipBob Merchant Plus an excellent choice for the changing needs of retail.

FAQ

What are the key features of Cin7?

Cin7 has strong integration features and helps with digital labeling. It also offers streamlined management of inventory at various sites. This makes tracking and managing stock levels easier for businesses.

How do inventory management solutions benefit retailers?

Retailers see a big boost in efficiency and customer service with these solutions. They streamlines processes like ordering and tracking, which ultimately helps businesses do better. Profits often grow as a result.

What makes Ordoro suitable for multichannel sellers?

Ordoro stands out in working well with different online selling platforms. It simplifies the entire stock management process, making it perfect for those selling across many channels.

How does inFlow Inventory support B2B and wholesale businesses?

inFlow Inventory offers special tools for managing stock across different places, with barcoding and detailed reports. It’s flexible, meaning it can grow with businesses without needing to switch software.

What are the pricing options for Ordoro?

Ordoro has a free basic plan and several paid plans. These varied options let any size of retailer use their services. This way, businesses can choose what works best for them.

Why is Zoho Inventory considered the best value?

Zoho Inventory is praised for its blend of value and features. With strong capabilities and affordable prices, it’s a top pick. It works well with other Zoho tools and popular online stores.

What features does Sortly’s mobile app offer?

Sortly’s app lets you scan barcodes and manage stock right from your phone. It’s powered by a visual system and is designed for easy use, even without an internet connection.

How does Katana cater to manufacturing businesses?

Katana is key for manufacturing with its order and production management. It connects with other business software easily. This makes it indispensable for keeping production smooth and organized.

What composed ShipBob Merchant Plus’ fulfillment network?

ShipBob Merchant Plus has many storage and shipping points. This setup is made to help businesses fulfill orders quickly and from different locations. It’s perfect for those who sell online and need fast shipping.

How do inventory management software systems integrate with POS and accounting systems?

These systems work together to keep inventory in harmony across different platforms. By connecting inventory with sales and financial data, businesses get a clearer picture and run more smoothly.