17 of the Best Inventory Management Software Options For 2020
Shane Barker
Founder @TraceFuse.ai | Amazon Review Expert | E-commerce Strategist | Influencer Marketing Specialist | Speaker
Stock keeping, accounting, and sales are important components of any successful business. Maintaining an optimum level of stock is necessary to help you meet your sales target.
Thankfully, you don’t need to spend hours on record keeping anymore. Now, there are inventory management software programs to make this process easier for you.
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These tools manage optimum inventory levels at all times during a business cycle. From manufacturing to sales, they can help you keep track of your inventory throughout the cycle. Maintaining the right stock will help you meet customer demands on time and prevent you from running out of your best sellers.
Best Inventory Management Software Programs for Your Business in 2020
If you sell physical goods, you need to invest in good software that will automatically update your inventory levels. It gives you control over your inventory and can eliminate any scope of guesswork and errors.
We have compiled a list of the best inventory management software for 2020. The features and prices will give an idea about the tools and help you make an informed choice.
Inventory Management Software #1: Square
With the help of Square inventory management software, small businesses can easily import thousands of products with CSV spreadsheets. You can also export and print your inventory stock levels without any hassle.
Through this tool, you can also receive daily reminder emails informing you about items that are low or have gone out of stock.
The Square dashboard or Point of Sale (POS) app helps you manage inventory details like names, prices, and quantities. More advanced inventory tools like Square for Retail allow you to manage inventory for multiple locations from a single dashboard.
You can sign up for Square for free. For complete pricing information, you can get in touch with them.
Image via Square
Inventory Management Software #2: Xero
Xero’s inventory management software tools can help you keep track of your business’ stock in real time. It uses an average cost method to calculate the total value of the stock on hand. It is great for small retailers and wholesalers as it is very simple to use.
This software uses CSV spreadsheets for the easy import and export of inventory data. Using this software program, you can find which products are you your best sellers.
Xero ensures that you don’t spend a lot of time on data entry. The whole process is automated to save time and to avoid errors.
You can get a demo of Xero inventory management software and try it for free. Their Early plan starts from $6.75 per month. Other upgraded plans are priced at $22.50 and $45 per month.
Image via Xero
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Inventory Management Software #3: Vend HQ
Vend HQ is powerful inventory management software that will bulk import your stock entries into a CSV file.
It provides options for you to create variants for your stock like size, color, and unit and edit them in one click. You can easily create combo offers and update inventory using this tool.
Also, you can import barcodes and labels, both old and new. You can customize your product description categories according to your products. You can also integrate your online stores’ collections and perform inventory counts.
This tool makes it easy for you to duplicate a product or its variants. Before you save it as a new product, you can make the required changes to it.
You can get a free trial of this software program. Their Lite plan starts at $99 per month while the Pro plan is available for $129 per month.
Image via Vend HQ
Inventory Management Software #4: Wasp Barcode
Reduce errors and maintain exact stock counts using Wasp’s inventory software solution. Using it, you can compile and analyze inventory data with real-time reports.
You can easily manage warehouse inventory at any stage — be it picking, packing, or delivering the products. You can quickly track critical supplies and streamline your purchase orders.
This software uses a mobile barcode scanning system to find errors at the source itself. It’s an efficient system that will help you save a lot of time.
Wasp Barcode also notifies you if your stock level goes below the permitted level. You can set automated re-order for any preferred inventory or vendor.
You can request a guided demo for a better understanding. The basic plan will cost you $595 annually.
Image via Wasp Barcode
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Inventory Management Software #5: Sellbrite
With Sellbrite, you won’t have to sweat over overselling. This system automatically syncs the inventory that you have available to your sales channel.
This inventory management software can centralize control of your stock across all platforms from a single interface. With its FBA (Fulfilled by Amazon) inventory management system, you can sync your merchant-filled quantities and FBA quantities across different channels.
They give you a free trial for 14 days. For basic plan, you will have to pay $49 per month. As your orders increase, you can upgrade your plan. It will be $399 per month for up to 10,000 orders per month.
Image via Sellbrite
Inventory Management Software #6: TradeGecko
Managing stock with TradeGeko’s inventory management software gives you complete control over warehouses at different locations. It allows you to boost your business productivity by syncing orders with purchase and sales orders.
TradeGeko enables you to search for products using barcode scanners. Using this software program, you can see if you have enough stock on hand at any point. It allows you to filter your results by product type, location, available stock, and number of units that you’ve committed.
You can start a free trial with all the features and pick a plan later according to your requirements. Their Founder plan starts at $39 per month.
Image via TradeGecko
Inventory Management Software #7: Brightpearl
Retailers and wholesalers can track and maintain their stock levels using Brightpearl’s inventory management software. It helps you maintain an accurate level of stock at various locations to meet the sales demand.
It gives you updates about your stock and inventory through multiple channels — marketplaces, brick-and-mortar stores, and ecommerce platforms.
With this software, you can even assign multiple barcodes to one product. It supports the common barcode variants including Barcode, EAN, UPC, and ISBN.
To check more features, you can book a demo with them. They have two inventory solutions available for you to choose from according to your business and order size.
Image via Brightpearl
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Inventory Management Software #8: Stitch Labs
To have visibility and control over your stock across all of your channels and warehouse locations is very important to boost business productivity. Stitch Labs’ inventory management software gives you the power of better forecasting stock levels and sales velocity.
This tool gives timely notifications so that you can avoid over-purchasing and overselling. You can set reorder points for your stock based on the number of days or units. Once you’ve done that, you’ll receive replenishment alerts through email.
This simple inventory app can maximize your sales opportunities by effectively using bundling and pre-order merchandising techniques. You can also easily track and allocate landing costs like freight, import duties, etc.
Read the full post at ShaneBarker.com.
I'm who reverse-engineers your online competition and turns it into your unfair advantage🚀
4yNice round-up Shane, thanks for your work!