Closeup of bar code scanner in hand of unrecognizable warehouse worker doing inventory of stock
Operating a small business is stressful and time-consuming, in addition, maintaining the inventory can become a troublesome task. Keeping track of how much you have in stock of any particular product and knowing when you need to order more can help prevent situations like having to oversell or urgently needing to order an item. A good quality inventory management software can make the tedious task of tracking your inventory a whole lot easier.

An inventory management software can help you focus on other more important aspects of your business. The inventory software should be able to:

  • Give you an alert when any particular product is low
  • Track sales and adjust the number of products in stock
  • Record and display customer information in an organized manner
  • Update any kind of product requirements upon the receipt of new orders
  • Provide sales and purchase data that can be used for bookkeeping purposes

When choosing the right inventory software, there are a lot of things that need to be kept in mind. When it comes to utilizing the services of a particular software in your business, trial and error isn’t always a feasible option. The many aspects used in selecting the right inventory management software can be related to User Interface, Accessibility, Data Representation, etc.

The basic criteria for our top 5 list below is accuracy and efficiency. Any inventory management software should be able to accurately report your inventory. Furthermore, it should have a good enough user interface in order to allow the user to utilize its services and features with ease. The basic purpose of inventory management software is to make the job of tracking your inventory easier and it would serve no purpose if it complicates the process altogether.

Another aspect of inventory management software is Product Importing. A good inventory software makes adding new products to the stock an easy process with accurate results. One of the most common ways to import products into the system is via a bar code, but recent innovations in product logistics require software to have the ability to import through CSV files and other methods.

Finally, the decision as to which inventory management software you should use for your business depends upon the requirements of your business. Warehouses and stores each have different requirements when it comes to an inventory software. Similarly, the way you sell your products also has an impact on what you may need from your inventory management software.

 The Final Verdict – Top 5 Inventory Management Software

  1. Fishbowl

One of the best inventory software on the market. It is especially a good choice for warehouse businesses, although it works for other businesses as well.

  1. inFlow

This inventory management software provides a good set of features. It has an easy to learn user interface.

  1. TradeGecko

This software is efficient in terms of product importing. It is also known for having an amazing user interface.

  1. Odoo

Odoo offers the ease of integration with various parts of your business.

  1. Inventoria

One of the more cost-effective solutions for inventory management software.

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