Inventory management software provides retailers a solution to keep track of items as they pass throughout their warehouses and stores. A good software solution will also provide KPI’s (Key performance indicators), which will give you the ability to easily identify stock performance.
To help you choose the best Inventory management softwares to prevent excess stock within your store, we have listed today’s top softwares.
Top 6 Inventory management softwares to prevent excess stock
1 Xero
Despite being known by many as an accounting software, Xero also have inbuilt tools for inventory management. For instance, Xero offers a functionality to record information about purchased and sold goods. It also facilitates the monitoring of inventory quantities and their corresponding values. This makes Xero an excellent choice for small businesses with modest inventory requirements seeking comprehensive accounting software solutions.
Small businesses with broader inventory requirements can benefit from Xero's integration with various specialized inventory apps. One such app, Inflow Inventory, is featured on this list as well.
2 FreshBooks
While FreshBooks is primarily recognized as accounting software, it also provides fundamental inventory tracking capabilities tailored for freelancers, sole traders, and small businesses. Notably, the software permits users to add, edit, and review inventory for billable items within their accounts and includes features for monitoring stock levels.
If your inventory needs are relatively minimal and you seek an all-encompassing accounting software, FreshBooks has everything you require. However, for more extensive requirements, choosing a specialized inventory software program might be a more suitable option.
3 Zoho Inventory
Zoho Inventory offers extensive customization options and includes tools for warehouse management, stock-keeping, expiration monitoring, and purchase order management. Its user-friendly interface simplifies platform navigation, enabling users to easily access and utilize all of its features.
4 Veeqo
Veeqo is a well-known inventory management and shipping solution designed for both retail and wholesale businesses. It particularly excels as a platform for small businesses with diverse multi-channel selling needs.
Veeqo features an intuitive and user-friendly interface that consolidates sales information in a central location, facilitating convenient tracking and management of both stock and sales. The platform provides a comprehensive set of tools for order management, inventory tracking, analytics, reporting, and warehouse inventory.
Moreover, Veeqo includes a built-in barcode scanner, enhancing the efficiency of processing high-volume orders and expediting the stock counting process.
Beyond inventory management, Veeqo offers shipping management capabilities, seamlessly integrating with major couriers like FedEx and UPS.
5 Sortly
Sortly stands out as excellent inventory management software, particularly suitable for small non-retail businesses. Boasting a straightforward layout and an intuitive interface, it proves ideal for users new to digital solutions.
Sortly encompasses all the essential features of inventory software, including warehouse management, inventory control, barcode scanning, and inventory reporting.
It's essential to highlight, however, that due to its slightly simpler setup, Sortly does not offer full integration with accounting software. Only the most expensive ultra plan allows for integration with other apps.
6 Inflow Inventory
InFlow Inventory stands out as a cost-effective and widely embraced inventory software solution tailored for small businesses. The platform seamlessly integrates inventory and order management, contributing to the facilitation and optimization of inventory-related workflows.
Equipped with functionalities like barcode scanning, inventory tracking, warehouse management, reporting, and analytics, InFlow offers a comprehensive suite of tools. Additionally, it supports integration with over 3,000 other apps through API, including Xero as mentioned earlier. It's worth noting that setting up these integrations may require the assistance of a developer.
Choosing the best Inventory management software to control your excess stock.
In the end, the optimal inventory software for a small business is contingent on their specific needs. Numerous software providers extend free trials, allowing you to assess the software's compatibility with your business before making a commitment.
Before reaching a decision, it's advisable to consider a few key questions. How many user licenses are available, and how many are necessary for your operations? Does the software package facilitate scalability as your business expands? Can the chosen plan accommodate the management of multiple warehouses? Does it seamlessly integrate with your existing software programs? What is the onboarding time for new users? After addressing these questions and any other pertinent considerations, you can confidently determine which inventory software aligns best with the specific needs of your small business.
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