Operating a small business is stressful and time-consuming. Also, 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 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, many things need to be kept in mind. When it comes to utilizing a particular software’s services in your business, trial and error aren’t always feasible. 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 are accuracy and efficiency. Any inventory management software should be able to report your inventory accurately. Furthermore, it should have a good enough user interface to allow the user to utilize its services and features with ease. The basic purpose of inventory management software is to track 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. Still, 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 on your business’s requirements. Warehouses and stores each have different requirements when it comes to inventory software. Similarly, the way you sell your products also impacts what you may need from your inventory management software.
The Final Verdict – Top 5 Inventory Management Software
Fishbowl Warehouse (FBW)
Fishbowl Warehouse (FBW) offers advanced inventory management features to help your business manage multiple warehouses. It also tracks parts using various criteria and helps set up auto reorder points to prevent stockouts, generate barcodes and use scanners, and a lot more. Automate order creation with our EDI, CRM, and e-commerce integrations. Control the flow of your inventory and know where everything is in real-time. Fishbowl helps you be proactive with your inventory, not just reactive.
inFlow has proven to be the most reliable, user-friendly, and cost-saving software tool to manage our inventory, sales, and purchases altogether. inFlow has streamlined a manual purchasing and inventory system into an automated one with ease.
Perfect for businesses who sell wholesale and direct to consumer to automate operational processes and focus on growth. QuickBooks Commerce’s inventory management system enables easy control over your inventory, orders, and customers from a single platform.
Odoo is an open-source inventory software that helps you better organize your warehouse with the smart double entry inventory system. Get the most efficient stocking method and improve all your internal operations. Odoo’s double-entry inventory has no stock input, output, or transformation. Instead, all operations are stock moves between locations.
Inventoria is professional inventory stock management software for Windows that allows you to manage inventory in one or several locations. Manage your stock levels by categories, locations, and vendors.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.