Top 25 Inventory Management Software for Small Businesses

Managing inventory is a crucial aspect of running a successful small business. That’s why finding the best inventory management software for your small business is essential to ensure smooth operations, optimize inventory levels, and maximize profits.

Are you struggling to keep track of your stock and constantly facing inventory-related issues? It may be time to consider investing in inventory management software. To help you make an informed decision, we have compiled a list of the 25 best inventory management software options for small businesses.

• Top 25 best inventory management software for small businesses
• What is inventory management software?
• Benefits of inventory management software for small businesses
• Key features of inventory management software 
• Frequently asked questions: Inventory management software for small businesses

Top 25 best inventory management software for small businesses

When it comes to running a small business, managing inventory efficiently is crucial for success. Fortunately, there are numerous inventory management software options available to help business owners keep track of their stock levels, streamline processes, and make informed decisions.

Process Street

Process Street is a cloud-based inventory management software designed to simplify and streamline inventory-related tasks for small businesses. With its user-friendly interface and comprehensive features, Process Street offers an efficient solution for businesses looking to optimize their inventory control processes.

Key features: 

• User-friendly interface: Process Street provides an intuitive and easy-to-navigate interface, ensuring that users can quickly access and utilize its inventory management tools.
• Centralized inventory control: The platform allows businesses to store and organize all inventory-related information in one centralized location. This eliminates the need for multiple spreadsheets or manual record-keeping, ensuring accurate and up-to-date inventory data.
• Automated workflows: Process Street offers a wide range of pre-built templates and workflows that can be customized to automate inventory management tasks. This includes stock replenishment, order fulfillment, and tracking, reducing manual effort and minimizing errors.
• Inventory tracking and reporting: The software provides robust tracking and reporting capabilities, allowing businesses to monitor stock levels, track sales trends, and generate comprehensive reports. These insights enable data-driven decision-making and help optimize inventory levels.
• Mobile app: Process Street offers a mobile app that enables businesses to manage their inventory and sales on the go. It provides flexibility and accessibility, allowing users to stay connected and make informed decisions from anywhere.
• Integration and collaboration: Process Street seamlessly integrates with popular e-commerce platforms, accounting software, and other business tools. This integration ensures that inventory data is synchronized across different systems, eliminating the need for manual data entry. The platform also offers collaboration features, enabling team members to work together on inventory-related tasks and track progress in real time.

TradeGecko

TradeGecko is a cloud-based inventory management software that provides small businesses with a centralized platformto manage their inventory, sales, purchasing, and fulfillment processes. It offers a user-friendly interface and a robust set of features to help businesses gain better control over their inventory and streamline their operations.

Key features:

• Inventory tracking and management: TradeGecko allows businesses to track and manage their inventory in real-time. It provides visibility into stock levels, locations, and movement, enabling businesses to make informed decisions about purchasing, sales, and fulfillment.
• Order management: With TradeGecko, businesses can efficiently manage their orders from creation to fulfillment. It enables businesses to create sales orders, manage backorders, and track the status of orders, ensuring smooth order processing and customer satisfaction.
• Purchasing and supplier management: TradeGecko simplifies the purchasing process by allowing businesses to create purchase orders, manage supplier relationships, and track supplier performance. It helps optimize inventory levels and ensures timely replenishment of stock.
• Multi-channel sales: TradeGecko integrates with popular e-commerce platforms, such as Shopify and WooCommerce, enabling businesses to manage their online sales channels from a single platform. It synchronizes inventory levels across channels, preventing overselling and improving order accuracy.
• Reporting and analytics: TradeGecko provides comprehensive reporting and analytics capabilities, allowing businesses to gain insights into their inventory performance, sales trends, and customer behavior. This data-driven approach helps businesses make informed decisions and identify areas for improvement.
• Integrations: TradeGecko offers seamless integrations with various third-party applications, including accounting software like QuickBooks and Xero, shipping providers, and CRM systems. This integration capability enhances efficiency and eliminates manual data entry.
• Scalability: TradeGecko is designed to grow with businesses. It offers different pricing plans and features that cater to the needs of small businesses as they expand and evolve.

Fishbowl Inventory

Fishbowl Inventory is a top-notch inventory management software that provides small businesses with a comprehensive solution to efficiently manage their inventory. The software offers a user-friendly interface, making it easy for businesses to navigate and utilize its features effectively. With Fishbowl Inventory, small businesses can optimize their inventory control, minimize errors, and enhance overall productivity.

Key features:

• Order management: The software offers advanced order management capabilities, allowing businesses to easily create, process, and track orders. With Fishbowl Inventory, businesses can efficiently manage sales orders, purchase orders, and work orders, ensuring smooth order fulfillment.
• Warehouse management: Fishbowl Inventory includes robust warehouse management features, enabling businesses to optimize their warehouse operations. The software supports barcode scanning, picking and packing, cycle counting, and bin tracking, ensuring efficient inventory management within the warehouse.
• Integrations: Fishbowl Inventory seamlessly integrates with popular accounting software, such as QuickBooks, allowing businesses to synchronize their inventory data with their financial systems. This integration eliminates the need for manual data entry, reducing errors and saving time.
• Scalability: Fishbowl Inventory is highly scalable, making it suitable for small businesses with plans for growth. The software can easily accommodate increased inventory volumes and expanded operations, ensuring businesses can continue to efficiently manage their inventory as they grow.
• Mobile access: Fishbowl Inventory offers mobile access, allowing users to manage inventory on the go. With the mobile app, businesses can perform tasks such as inventory counts, order processing, and receiving, providing flexibility and convenience.

Netsuite

NetSuite is a comprehensive inventory management software that offers small businesses a robust solution for managing their inventory. With a wide range of features and capabilities, NetSuite helps businesses streamline their inventory processes and gain better control over their stock.

Key features:

• ERP system: NetSuite is an Enterprise Resource Planning (ERP) system that integrates various business processes, including accounting, manufacturing, and customer relationship management (CRM). It uses a central database to provide real-time data access and visibility into business performance across departments 1.
• Inventory tracking: NetSuite enables businesses to track their inventory in real-time, providing accurate information about stock levels, locations, and movements. This feature helps businesses maintain optimal inventory levels, reduce stockouts, and improve order fulfillment.
• Order management: The software offers advanced order management capabilities, allowing businesses to efficiently process and track orders. NetSuite enables businesses to manage sales orders, purchase orders, and work orders, ensuring smooth order fulfillment and customer satisfaction.
• Warehouse management: NetSuite includes robust warehouse management features, such as barcode scanning, picking and packing, and cycle counting. These features help optimize warehouse operations, improve inventory accuracy, and increase efficiency.
• Reporting and analytics: NetSuite provides comprehensive reporting and analytics tools, allowing businesses to generate customizable reports and gain valuable insights into their inventory performance. This helps businesses make data-driven decisions, identify trends, and optimize inventory management processes.
• Integration: NetSuite seamlessly integrates with other business systems, such as accounting software, CRM software, and e-commerce platforms. This integration ensures data consistency and eliminates the need for manual data entry, saving time and reducing errors.

Square

Square is a popular provider of various business solutions, including inventory management software for small businesses. Their inventory management software is designed to help businesses efficiently track and manage their inventory, streamline operations, and improve overall productivity. With Square’s inventory management software, small businesses can gain better control over their inventory, reduce stockouts and overstocking, and make data-driven decisions to optimize their inventory levels.

Key features:

• Real-time inventory tracking: Square’s inventory management software allows businesses to track their inventory in real-time. This feature provides up-to-date information on stock levels, allowing businesses to make informed decisions about purchasing, restocking, and sales.
• Inventory alerts: The software provides customizable alerts for low stock levels, allowing businesses to proactively reorder products and avoid stockouts. This feature helps businesses maintain optimal inventory levels and ensures that they never run out of popular items.
• Barcode scanning: Square’s inventory management software supports barcode scanning, making it easy to add new products to the inventory and update stock levels. This feature saves time and reduces the chances of manual data entry errors.
• Product variants and categories: Businesses can create product variants and categories within Square’s inventory management software. This feature is particularly useful for businesses that sell products with different attributes, such as size, color, or style. It helps businesses organize their inventory and makes it easier for customers to find the products they are looking for.
• Inventory reporting: Square’s software provides comprehensive inventory reports, giving businesses insights into their inventory performance. These reports include information such as sales velocity, stock turnover, and profit margins. Businesses can use these reports to identify top-selling products, slow-moving items, and trends in customer demand.
• Integration with point-of-sale: Square’s inventory management software seamlessly integrates with its point-of-sale system. This integration ensures that inventory levels are automatically updated when sales are made, reducing the chances of overselling or stock discrepancies.
• Multi-location inventory management: For businesses with multiple locations, Square’s software allows for centralized inventory management. This feature enables businesses to track inventory across different locations, transfer stock between locations, and view consolidated inventory reports.
• Purchase order management: Square’s software includes purchase order management functionality, allowing businesses to create and track purchase orders. This feature helps businesses streamline their procurement process and ensures that they have sufficient stock to meet customer demand.

Brightpearl

Brightpearl is a cloud-based retail management and ERP software designed to streamline operations for small and medium-sized businesses (SMBs). It offers a comprehensive suite of features to help businesses efficiently manage their inventory, sales, orders, and customer relationships. Brightpearl’s inventory management software is specifically tailored to meet the needs of retailers and wholesalers, providing them with the tools to optimize their inventory levels, improve order fulfillment, and enhance overall operational efficiency.

Key features:

• Integrated point of sale (POS): Brightpearl’s inventory management software includes an integrated POS system that allows businesses to sync inventory, orders, and customer information between both online and offline sales channels. This integration helps prevent overselling and enables businesses to provide in-store services such as issuing gift cards, refunds, and sales credits. It also allows businesses to check stock availability at other locations while customers are waiting in-store.
• Retail business intelligence systems: Brightpearl’s inventory management software offers robust analytics and reporting capabilities These analytics provide businesses with valuable insights into product and customer performance, enabling them to make data-driven decisions and drive company growth.
• Multi-channel inventory management: Brightpearl enables businesses to manage inventory across multiple sales channels, including online marketplaces, e-commerce platforms, and brick-and-mortar stores 2. This feature helps businesses maintain consistent inventory levels and ensures that stock is allocated correctly across different channels.
• Integration capabilities: Brightpearl offers extensible integration capabilities, allowing businesses to integrate with other sales channels, software, and supply chain technologies This flexibility enables businesses to connect with the tools and systems they need to support their specific business needs and scale as they grow.
• Performance visibility: Brightpearl provides businesses with dashboards and key performance indicators (KPIs) based on data held within the operations platform 3. This visibility allows businesses to have a complete picture of their operations and focus on the necessary products, channels, regions, and customers that will drive growth.

Zoho

Zoho offers an inventory management software called Zoho Inventory that is designed to help small businesses efficiently manage their inventory. With features such as order management, tracking, and integrations with accounting and CRM systems, Zoho Inventory aims to streamline inventory operations and improve overall business efficiency.

Key features:

• Order management: Zoho Inventory allows businesses to manage their orders effectively. This includes creating and tracking sales orders, purchase orders, and invoices. It also provides features for managing backorders, drop shipments, and returns.
• End-to-end tracking: Zoho Inventory offers end-to-end tracking capabilities, allowing businesses to track their inventory from procurement to sales. This includes tracking stock levels, serial numbers, and batch numbers. It also provides real-time updates on stock availability and helps prevent stockouts.
• Multiple shipping integrations: Zoho Inventory integrates with multiple shipping carriers, enabling businesses to streamline their shipping processes. This includes generating shipping labels, tracking shipments, and managing shipping costs.
• Accounting and CRM integrations: Zoho Inventory seamlessly integrates with Zoho’s accounting and CRM software, providing businesses with a comprehensive solution. This integration allows for efficient data sharing between systems, automates workflows, and provides a holistic view of customer and financial data.
• Warehouse management: Zoho Inventory offers features for managing multiple warehouses, including stock transfers, stock adjustments, and warehouse-specific reports. This helps businesses optimize their inventory across different locations.
• Inventory reporting: Zoho Inventory provides various reports and analytics to help businesses gain insights into their inventory performance. These reports include stock valuation, sales reports, purchase reports, and more. The data can be used to make informed decisions and improve inventory management strategies.
• Integrations and customizations: Zoho Inventory can be integrated with other Zoho applications, such as Zoho CRM and Zoho Books, as well as third-party applications through APIs. This allows businesses to customize their inventory management workflows and extend the functionality of the software.

Cin7

Cin7 is a cloud-based inventory management software that aims to streamline stock management across multiple channels for small businesses. It offers two software solutions, Cin7 Core and Cin7 Omni, designed to meet the needs of businesses in various industries.

Key features:

• Inventory management: Cin7 provides instant visibility into stock levels and order status, allowing businesses to have up-to-the-minute knowledge of their inventory. It offers automated processes to save time and ensure accurate stock management.
• Order management: Cin7 helps businesses manage their orders efficiently. It offers features such as order tracking, shipment consolidation, and order fulfillment. By integrating with various sales channels like Shopify and Amazon, Cin7 allows business owners to track sales from any device.
• Integration with sales channels: Cin7 integrates with popular e-commerce platforms like Amazon and Shopify, enabling businesses to synchronize their inventory across multiple sales channels. This integration ensures that stock level changes are automatically updated in real time.
• Warehouse management: Cin7 provides features for warehouse management, including stock transfers, stock adjustments, and warehouse-specific reports. This helps businesses optimize their inventory across different locations.
• Reporting and analytics: Cin7 offers inventory reporting capabilities, allowing businesses to generate in-depth sales reports and track stock in a well-organized and detailed manner. These reports provide valuable insights for making informed business decisions.
• Integration with POS systems: Cin7 Core can be used on various devices such as iPad, Android, PC, and Mac, providing businesses with flexibility in choosing their preferred point-of-sale (POS) system. This integration allows for seamless data flow between inventory management and sales transactions.
• Alerts and notifications: Cin7 provides instant notifications about changing stock levels and product inventory through phone and email. This feature helps businesses stay informed and take timely action when necessary.

inFlow Inventory 

inFlow Inventory is an inventory management software designed for small and medium-sized businesses. It offers a range of features to help businesses efficiently manage their stock, orders, and inventory. With inFlow, users can track inventory levels, create purchase orders, set reorder points, and generate reports for analysis and evaluation.

Key features:

• Stock and order management: inFlow provides a real-time picture of stock levels and order status. Users can track inventory across multiple offices or warehouses, ensuring accurate stock management.
• Mobile fulfillment: With inFlow, users can fulfill orders and update inventory levels directly from their mobile devices, such as iPhones or Android devices. This feature allows for on-the-spot inventory management and order fulfillment.
• Reorder points: inFlow allows users to set reorder points for their products. Reorder notifications are triggered when stock levels drop below the defined minimum, giving businesses the flexibility to order more in advance.
• Integration with QuickBooks online: inFlow can be seamlessly integrated with QuickBooks Online, enabling businesses to manage inventory and orders in inFlow and push financial data directly to QuickBooks Online.
• Comprehensive reporting: The software offers reporting capabilities, allowing users to generate sales, purchasing, and inventory reports. These reports provide valuable insights for business analysis and evaluation.
• User-friendly interface: inFlow is known for its simplicity and ease of use. The software is designed to streamline inventory management processes and minimize the reliance on spreadsheets.
• Multi-warehouse support: While inFlow’s reordering is currently company-wide, users can set reorder points for specific products. However, reordering is triggered when the company-wide stock level drops below a certain threshold, not on a per-location basis.

MegaVentory

MegaVentory is a web-based inventory management software designed for small and medium-sized businesses. It offers a range of features to help businesses streamline their inventory operations, order fulfillment, and manufacturing processes. MegaVentory aims to provide a combination of technology and usability to improve business operations and efficiency.

Key features:

• Inventory management: MegaVentory provides tools for tracking and managing inventory levels, allowing businesses to have real-time visibility into their stock. Users can monitor stock levels, set reorder points, and generate reports to optimize inventory management.
• Order management: The software enables businesses to efficiently manage their orders, from creation to fulfillment. Users can track the status of orders, generate invoices, and manage customer information within the system.
• Manufacturing execution: MegaVentory offers features to support manufacturing processes, such as creating bills of materials, tracking work orders, and managing production schedules. This functionality allows businesses to streamline their manufacturing operations and improve efficiency.
• Integration with third-party apps: MegaVentory provides integrations with various third-party applications, allowing businesses to extend the functionality of the software. This includes integrations with accounting software, and e-commerce platforms.

Sortly

Sortly is an inventory management software that offers a simple and user-friendly solution for small businesses. It provides features such as synchronization across devices, a mobile app for on-the-go inventory management, and a visual system for browsing inventory.

Key features:

• Synchronization: Sortly allows for automatic synchronization of inventory across all devices and teams. This enables real-time updates from any location.
• Mobile app: Sortly provides a top-rated mobile app that makes it easy to manage inventory anywhere, even when offline.
• Simplicity: Sortly is designed to be a simple and intuitive inventory management solution. It does not require lengthy training sessions and can be set up quickly.
• Visual system: Sortly uses photos rather than words in a spreadsheet to browse inventory, making it a visual and user-friendly system.
• Cloud-based: Sortly operates on a cloud-based platform, allowing for easy access to inventory data from the web, tablet, or smartphone. Data is automatically synced across devices.
• Customized alerts: Sortly offers the ability to set customized alerts, which can help businesses stay aware of stockouts, shortages, and expiring items.

Ordoro

Ordoro is a comprehensive inventory management software that offers a range of features to help small businesses streamline their operations. It provides tools for order fulfillment, shipping integration, inventory management, multi-channel selling, warehouse management, reporting and analytics, and integration with e-commerce platforms. 

Key features:

• Order fulfillment: Ordoro helps businesses efficiently manage their order fulfillment process. It enables businesses to track orders, manage inventory levels, and streamline shipping processes.
• Shipping integration: Ordoro integrates with major shipping carriers, such as USPS and UPS, allowing businesses to easily compare shipping rates and print shipping labels. This integration helps businesses save time and reduce shipping costs.
• Inventory management: Ordoro provides tools for inventory management, allowing businesses to track stock levels, set reorder points, and manage product variations. This helps businesses avoid stockouts and optimize their inventory levels 1.
• Multi-channel selling: Ordoro supports multi-channel selling, allowing businesses to manage inventory and orders from multiple sales channels, such as online marketplaces and e-commerce platforms. This feature helps businesses centralize their operations and avoid overselling.
• Warehouse management: Ordoro offers warehouse management capabilities, enabling businesses to efficiently organize and manage their warehouse operations. This includes features like barcode scanning, bin locations, and pick-and-pack workflows.
• Reporting and analytics: Ordoro provides reporting and analytics tools that give businesses insights into their sales, inventory, and shipping performance. These insights help businesses make data-driven decisions and identify areas for improvement.
• Integration with E-commerce platforms: Ordoro integrates with popular e-commerce platforms like Shopify, WooCommerce, and BigCommerce. This allows businesses to seamlessly sync their inventory and orders between their online store and Ordoro.

Lightspeed

Lightspeed stands as an all-encompassing inventory management solution, equipped with a diverse array of features crafted to assist small businesses in enhancing operational efficiency. From its point-of-sale system and multi-store management capabilities to inventory tools, and customer management capabilities, Lightspeed equips small businesses with the essential tools for proficiently managing inventory and optimizing overall operations.

Key features:

• Inventory management: Lightspeed offers robust inventory management capabilities. It allows businesses to track stock levels, set reorder points, and manage product variations This feature helps businesses avoid stockouts, optimize inventory levels, and streamline their supply chain.
• Integration with E-commerce platforms: Lightspeed integrates with e-commerce platforms, such as Lightspeed eCom, allowing businesses to manage their inventory data for both online and offline sales channels from one platform 3. This integration helps businesses synchronize their inventory and streamline sales and stock management.
• Reporting and analytics: Lightspeed provides reporting and analytics tools that give businesses insights into their sales, inventory, and overall business performance These insights help businesses make data-driven decisions, identify trends, and optimize their operations.
• Customer management: Lightspeed offers customer management features, including customer profiles and sales histories that follow shoppers across locations and channels This feature helps businesses provide personalized customer experiences and build customer loyalty.
• Responsive customer support: Lightspeed is known for its responsive customer support, providing assistance to businesses with any questions or issues that may arise This support ensures that businesses can rely on Lightspeed for ongoing technical assistance.

Shopify

Shopify is a renowned e-commerce platform that not only offers an easy-to-use online store builder but also provides robust inventory management capabilities. Designed with small businesses in mind, Shopify offers a range of key features to help entrepreneurs effectively manage their inventory. 

Key features:

• User-friendly interface: One of the standout features of Shopify is its intuitive and user-friendly interface. With a simple and clean design, even users with limited technical knowledge can easily navigate the platform. This makes it a perfect choice for small business owners who may not have a dedicated IT team.
• Centralized inventory management: Shopify allows you to centralize all your inventory management tasks in one place. You can easily add and organize products, track stock levels, and update product information from a single dashboard. This centralized approach saves time and minimizes the risk of errors or oversights.
• Product variants and customization: For businesses with multiple product variations, Shopify offers a powerful product variant feature. You can create different options such as size, color, and style for each product, streamlining the inventory management process. Additionally, Shopify allows for easy customization of product details, such as prices, SKUs, and stock levels, ensuring accuracy in inventory tracking.
• Inventory tracking and alerts: Shopify provides real-time inventory tracking, ensuring that you have accurate information about stock levels at all times. This feature helps to prevent overselling and allows you to make informed decisions about restocking. Moreover, Shopify offers customizable alerts that notify you when stock levels reach a certain threshold, ensuring you can replenish inventory in a timely manner.

Unleashed

Unleashed is a robust inventory management software designed specifically for small businesses. With its wide range of key features, Unleashed aims to simplify and streamline inventory management processes.

Key features:

• Advanced inventory management tools: Unleashed offers a comprehensive set of tools to help small businesses effectively manage their inventory. These tools include batch and serial number tracking, which allows for precise tracking of individual items. Additionally, Unleashed supports multiple warehouses, making it ideal for businesses with multiple locations or distribution centers.
• Accurate demand forecasting: Unleashed incorporates advanced demand forecasting capabilities, which can be extremely valuable for small businesses. By analyzing historical data, sales trends, and customer insights, Unleashed helps businesses accurately forecast demand. This feature enables proactive inventory planning, minimizing the risk of stockouts or excess inventory.
• Seamless integration with E-commerce platforms: For small businesses operating in the online realm, Unleashed seamlessly integrates with popular e-commerce platforms. This integration ensures that inventory levels are automatically updated across all sales channels, preventing overselling and improving efficiency. Whether you sell through your own website or marketplaces like Amazon or eBay, Unleashed keeps your inventory synchronized.
• Real-time reporting and analytics: Unleashed provides small businesses with real-time reporting and analytics tools to gain valuable insights into their inventory performance. With customizable reports and dashboards, owners can monitor key metrics, such as stock turnover, gross margin, and inventory valuation. These insights empower businesses to make data-driven decisions and optimize their inventory management strategies.

Veeqo

Veeqo offers a comprehensive set of features for small businesses to effectively manage their inventory, streamline operations, and improve efficiency. The software’s integration with popular e-commerce platforms, powerful inventory management tools, and demand forecasting capabilities make it a valuable tool for small businesses.

Key features: 

• Powerful inventory management tools: Veeqo provides powerful inventory management tools that allow businesses to automatically update inventory levels across multiple channels such as Amazon, eBay, Shopify, and Walmart as orders come in. This helps businesses keep track of their inventory in real-time and avoid overselling or stockouts.
• Tracking inventory across stores and locations: With Veeqo, businesses can efficiently manage their inventory across different stores and locations. The software allows businesses to track, receive, transfer, and reconcile stock in one centralized place, making it easier to manage inventory across multiple locations.
• Demand forecasting tools: Veeqo offers demand forecasting tools that help businesses maximize their sales and profitability. These tools analyze historical sales data and market trends to provide insights into future demand, allowing businesses to make informed decisions about inventory planning and purchasing.
• Multichannel E-commerce integration: Veeqo integrates with popular e-commerce platforms such as Amazon, eBay, Shopify, and Walmart, enabling businesses to manage their inventory, orders, and shipping processes across multiple channels from a single interface. This integration helps businesses save time and improve operational efficiency.

QuickBooks

QuickBooks is primarily known as accounting software, but it offers inventory management features. Even though it may not have the same level of depth and complexity as dedicated inventory management software solutions. However, for small businesses that require basic inventory management capabilities integrated with their accounting processes, QuickBooks can be a suitable option.

Key features:

• Real-time inventory tracking: QuickBooks allows businesses to track their inventory in real-time, providing up-to-date information on stock levels, sales, and purchases. This helps businesses make informed decisions about inventory management and avoid stockouts or overstocking.
• Low stock alerts: QuickBooks provides low stock alerts, notifying businesses when it’s time to reorder inventory. This feature helps businesses stay ahead of backorders and ensures that they have sufficient stock to fulfill customer orders.
• Supplier management: QuickBooks allows businesses to organize supplier contact information in one place, making it easy to reorder inventory from preferred suppliers. This streamlines the procurement process and ensures timely delivery of inventory.
• Stock value tracking: QuickBooks automatically tracks the value of inventory in real-time, updating the balance sheet accordingly. This feature helps businesses understand the financial impact of their inventory and make informed decisions about pricing and profitability.
• Product organization: QuickBooks enables businesses to organize their products with images, categories, and prices. This makes it easy to search and identify products, improving efficiency in inventory management.

MRPeasy

MRPeasy is a cloud-based Manufacturing ERP/MRP software designed for small manufacturers and distributors. While it offers a range of features to manage production, stock, customers, purchases, and finances, it also includes inventory management capabilities.

Key features:

• Inventory management: MRPeasy provides tools to manage inventory levels, track stock movements, and optimize stock control. It allows you to set reorder points and receive low-stock alerts.
• Production planning: The software offers production planning and scheduling features to help you optimize your manufacturing processes. It allows you to create production orders, track work in progress, and manage the bill of materials (BOM).
• Purchasing: MRPeasy enables you to manage your purchasing activities, including creating purchase orders, tracking supplier deliveries, and managing supplier information.
• Financial management: The software includes basic financial management features, such as cost tracking, invoicing, and integration with accounting software like QuickBooks and Xero.
• CRM integration: MRPeasy allows you to integrate customer relationship management (CRM) functionality, helping you manage customer information, sales orders, and customer communications.

Xero

Xero is an accounting software that offers inventory management features for small businesses. It provides tools to help businesses keep track of stock levels, populate invoices and orders with items, and manage purchase orders and quotes.

Key features:

• Inventory management: Xero allows businesses to keep track of stock levels, populate invoices and orders with items, and manage purchase orders and quotes.
• Online invoicing: Xero’s intuitive invoicing software enables businesses to send invoices, automate reminders, and manage invoice administration from desktop or mobile devices.
• Multi-currency accounting: Xero supports payments and transactions in over 160 currencies, providing businesses with the flexibility to pay and get paid in different currencies.

Odoo

Odoo is an open-source ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) software that offers inventory management features for small businesses. It provides a range of tools to help businesses manage their inventory, streamline operations, and improve efficiency.

Key features:

• Inventory tracking: Odoo allows businesses to track their inventory levels in real-time, providing accurate information about stock quantities and locations. This helps businesses avoid stockouts and optimize their inventory management processes.
• Order management: With Odoo, businesses can easily create and manage sales orders, purchase orders, and quotations. The software allows users to generate professional-looking documents and automate order processing workflows.
• Warehouse management: Odoo’s inventory management software includes features for warehouse management, such as barcode scanning, stock transfers, and picking and packing operations. These features help businesses streamline their warehouse operations and improve order fulfillment efficiency.
• Product variants and attributes: Odoo allows businesses to manage product variants and attributes, such as size, color, and style. This enables businesses to easily track and manage different variations of their products.
• Reporting and analytics: Odoo provides reporting and analytics tools that allow businesses to gain insights into their inventory performance. Users can generate customizable reports and analyze key inventory metrics to make informed business decisions.

Isklad

Isklad is an inventory management software designed for small businesses. It offers several key features that can help businesses efficiently manage their inventory. The software provides tools for order processing, order tracking, and order fulfillment. This streamlines the order management process and helps businesses deliver orders to customers efficiently.

Key features:

• Inventory tracking: Isklad allows businesses to track their inventory in real-time. This feature enables businesses to have accurate information about their stock levels, ensuring that they can fulfill customer orders promptly and avoid stockouts.
• Warehouse management: Isklad offers warehouse management capabilities, allowing businesses to optimize their warehouse operations. It provides features such as location management, picking and packing, and inventory transfers. These features help businesses organize their warehouse and improve overall efficiency.
• Reporting and analytics: Isklad provides reporting and analytics tools that give businesses insights into their inventory performance. It offers various reports, such as inventory valuation, stock movement, and sales analysis. These reports help businesses make data-driven decisions and identify areas for improvement.
• Integration: Isklad can integrate with other business systems, such as e-commerce platforms and accounting software. This integration enables businesses to synchronize data across different systems, reducing manual data entry and improving overall workflow efficiency.

HandiFox

HandiFox is a mobile inventory tracking and sales management solution designed for small and mid-sized businesses. It offers integration with QuickBooks Desktop and QuickBooks Online, making it a convenient choice for businesses already using these accounting software platforms.

Key features:

• Mobile inventory tracking: HandiFox provides a mobile app that allows users to track inventory on the go. This feature enables businesses to have real-time visibility of their inventory levels, locations, and movements.
• Sales management: HandiFox helps businesses automate their sales processes by providing tools for creating sales orders, invoices, and receipts. It also allows for easy tracking of customer information and sales history.
• Supply chain pipeline management: With HandiFox, businesses can manage their supply chain pipeline effectively. The software enables users to track purchase orders, receive goods, and manage vendor information.
• Integration with QuickBooks: HandiFox seamlessly integrates with QuickBooks Desktop and QuickBooks Online, ensuring that inventory and sales data are synchronized between the two systems. This integration eliminates the need for manual data entry and reduces the chances of errors.
• Cloud-based access: HandiFox Online is a cloud-based solution, which means that businesses can access their inventory and sales data from anywhere with an internet connection. This feature is particularly beneficial for businesses with multiple locations or remote teams.

Wasp Barcode Technologies

Wasp Barcode Technologies offers inventory management software solutions for small businesses. The software allows businesses to track inventory at multiple sites, even globally. Users can manage inventory at different sites without needing all sites to be on the same network. It also provides the ability to run reports on one site or multiple sites. 

Key features:

• Inventory tracking: Wasp Barcode Technologies provides inventory tracking solutions that allow businesses to efficiently manage their inventory levels, locations, and movements. This feature helps businesses avoid stockouts and optimize their inventory management processes.
• Barcode generation and printing: Wasp Barcode Technologies’ software allows users to generate and print barcodes for their products. Users can choose from a variety of barcode symbologies and customize the size, color, orientation, and text of the barcodes. The software also integrates with Microsoft Office applications, making it easy to insert barcodes into documents, spreadsheets, or databases.
• Integration with QuickBooks: Wasp Barcode Technologies’ inventory management software integrates with QuickBooks, a popular accounting software. This integration enables businesses to synchronize inventory and sales data between the two systems, eliminating the need for manual data entry and reducing the chances of errors.
• Cloud-based access: Wasp Barcode Technologies offers a cloud-based inventory management solution, allowing businesses to access their inventory data from anywhere with an internet connection. This feature is particularly beneficial for businesses with multiple locations or remote teams.

Erply

Erply is a cloud-based retail solution designed for small and midsize businesses. The software offers a range of features that can help small businesses effectively manage their inventory, streamline operations, and provide a better customer experience. Its integration with popular e-commerce platforms and API access makes it a versatile solution for businesses looking to synchronize their online and offline sales channels.

Key features:

• Point of Sale (POS) system: Erply provides a comprehensive POS system that allows businesses to process payments, track sales, and manage customer data.
• Inventory tracking: With Erply, businesses can easily track their inventory levels, monitor stock movements, and receive real-time updates on product availability.
• Purchase order and invoice tracking: Erply offers detailed purchase order and invoice tracking, enabling businesses to manage their procurement processes efficiently.
• Customer database: The software includes a customer database feature that allows businesses to store and manage customer information, helping them provide personalized service and targeted marketing campaigns.
• Loyalty programs and promotions: Erply has built-in loyalty program functionality, enabling businesses to create and manage customer loyalty programs. It also supports promotional activities to attract and retain customers.
• Integration with e-commerce platforms: Erply offers free integrations with popular e-commerce platforms such as Shopify, WooCommerce, Magento, and Netsuite. This allows businesses to synchronize their online and offline sales channels.

Katana

Katana is an inventory management software designed specifically for small businesses. The solution offers essential features such as production scheduling, inventory tracking, integration with accounting software, and e-commerce integration. Its user-friendly interface and cloud-based nature make it accessible and easy to use for small business owners and their teams.

Key features:

• Production scheduling: Katana allows businesses to create bills of materials, optimize production scheduling, allocate resources, and manage manufacturing costs.
• Inventory tracking: With Katana, businesses can maintain optimal inventory levels for both raw materials and finished products. The software provides real-time updates on stock movements and availability.
• Integration with accounting software: Katana seamlessly integrates with popular accounting software like QuickBooks Online and Xero. This enables businesses to transfer key financial data, convert purchase orders to bills, create or update invoices based on sales order statuses, and sync inventory values in real time for accurate costing.
• E-commerce integration: Katana offers integration with various e-commerce platforms, allowing businesses to synchronize their online and offline sales channels. This helps streamline order management and inventory tracking.
• API access: Katana provides an open API that allows businesses to create custom workflows and connect with other applications beyond the list of built-in integrations. This enables automation of data transfers and improves overall efficiency.
• Shop floor app: Katana includes a Shop Floor App that helps businesses track labor costs and productivity. It provides real-time visibility into production activities and allows for better resource allocation.
• Multi-location support: Katana supports businesses with multiple store locations, providing access to employees across all locations.

What is inventory management software?

Inventory management software is a powerful tool that allows businesses to effectively track and manage their inventory. It serves as a central database where businesses can store and organize information about their products, including stock levels, orders, and sales.

One of the primary functions of inventory management software is to automate various tasks related to inventory management. This eliminates the need for manual data entry, saving time and reducing the risk of errors. With the software, businesses can easily track inventory levels, ensuring that they have the right amount of stock on hand to meet customer demand.

Additionally, inventory management software can help businesses streamline their order management processes. It enables businesses to efficiently process orders, from taking orders to shipping them out. By automating these tasks, businesses can improve their operational efficiency and customer satisfaction.

Furthermore, inventory management software can integrate with other software systems, such as enterprise resource planning (ERP) and accounting software. This integration ensures smooth communication and data flow between different departments, providing businesses with a comprehensive solution for managing their inventory and financials.

Benefits of inventory management software for small businesses

Small businesses can greatly benefit from using inventory management software.

Improved stock level accuracy 

One of the key advantages is improved accuracy in managing stock levels. Manual data entry is prone to errors, but with inventory management software, businesses can automate various tasks, reducing the risk of mistakes.

Enhanced seamless integration

Inventory management software also allows for seamless integration with other systems such as accounting software and enterprise resource planning (ERP) systems. This enables smooth communication and data flow between different departments, providing businesses with a comprehensive solution for managing inventory and financials.

Better automation efficiency

This inventory software helps improve efficiency by automating tasks like order processing and shipping. By streamlining these processes, businesses can save time and resources, resulting in improved operational efficiency.

Improved cost-savings

Another benefit is cost savings. With real-time access to stock levels, businesses can keep track of inventory levels accurately. This prevents overstocking or understocking, helping businesses maintain optimal inventory levels and reducing excess inventory costs.

Key features of inventory management software

Inventory management software is designed to help businesses efficiently track, manage, and organize their inventory. The key features of inventory management software can vary depending on the specific system, but here are some common features that are typically found in such software:

User-friendly interface

Inventory management software for small businesses typically offers an intuitive and user-friendly interface, ensuring ease of use for individuals with varying levels of technical expertise.

Real-time tracking

One of the key features is real-time tracking of inventory levels. This allows businesses to have an up-to-date view of their stock, minimizing the risk of stockouts or overstock situations.

Multi-channel integration

Integration with various sales channels, including online platforms and physical stores, facilitates seamless tracking and management of inventory across different sales channels.

Automation of routine tasks

The software automates routine tasks such as reordering and updating stock levels. This automation reduces manual errors and ensures that inventory processes are efficient.

Forecasting and analytics

Small businesses can benefit from features that provide insights into trends, helping in demand forecasting. Analytics tools enable data-driven decision-making for better stock management.

Mobile accessibility

Many inventory management systems offer mobile apps or mobile-responsive interfaces. This allows business owners or staff to manage inventory on-the-go, providing flexibility and convenience.

Supplier management

Efficient management of supplier information and relationships is crucial. The software may include features for tracking supplier details, lead times, and managing communication.

Integration with accounting software

Seamless integration with accounting software streamlines financial processes by automatically updating relevant financial data when inventory transactions occur.

Barcode scanning and RFID technology

The ability to use barcode scanning or RFID technology enhances accuracy and speed in tracking inventory movements, reducing the likelihood of errors.

Customization and scalability

Small businesses often experience growth, so having software that is scalable to accommodate an expanding inventory is essential. Additionally, customization options allow businesses to tailor the system to their specific needs.

Security and data backup

Robust security features safeguard sensitive inventory data, and regular data backups ensure that important information is not lost in the event of technical issues or data breaches.

Compliance and reporting tools

The software may include features to help businesses comply with regulations related to inventory management. Additionally, reporting tools provide insights into various aspects of inventory performance.

Cost-effective solutions

Given the budget constraints of small businesses, inventory management software often provides cost-effective solutions, offering a balance between features and affordability.

Training and support

Comprehensive training resources and customer support are integral components, helping users get the most out of the software and addressing any issues promptly.

Cloud-based accessibility

Many inventory management systems operate in the cloud, allowing businesses to access their inventory data from anywhere with an internet connection. This enhances flexibility and facilitates remote work scenarios.

Frequently asked questions: Inventory management software

What is inventory management software?

Inventory management software is a specialized tool designed to help businesses effectively track, organize, and manage their stock of goods. It provides features such as real-time tracking, order processing, and reporting to streamline inventory-related processes and enhance overall operational efficiency.

Can Excel be used for inventory management?

Yes, Excel can be used for basic inventory management, especially for small businesses with relatively simple inventory needs. However, as a business grows or becomes more complex, dedicated inventory management software, like Process Street, is often preferred due to its ability to handle large datasets, provide automation, and offer more advanced features tailored to inventory management.

How do small companies manage inventory?

Small companies typically manage inventory by employing a combination of manual and digital methods. This may involve using spreadsheets, physical counts, and basic software tools. As the business grows, many small companies transition to dedicated inventory management software to automate processes, reduce errors, and gain better insights into their stock levels and trends.

What are the benefits of using inventory management software?

Inventory management software offers several benefits, including real-time tracking of stock levels, automation of routine tasks, improved accuracy, better demand forecasting, integration with other business systems (such as accounting), and enhanced efficiency in overall inventory operations. It helps businesses minimize stockouts, overstocks, and errors while optimizing the use of resources.

What is the best inventory method for a small business?

The best inventory method for a small business depends on factors such as the nature of the products, sales volume, and business goals. Common inventory methods include FIFO (First-In-First-Out), LIFO (Last-In-First-Out), and Average Cost. The choice of method impacts financial reporting and tax liabilities. Small businesses may benefit from consulting with an accountant or using inventory management software that supports their preferred method while ensuring compliance with accounting standards.