Best Small Business Inventory Software for Small Businesses

Navigating the landscape of small business inventory software options to find the best fit can be challenging. However, the right system can transform managing inventory from a complex task into a smooth process. In this article, we’ve gathered the 15 top choices for small business inventory software available today. Let’s explore these options further to help you make an informed decision.

What Does Inventory Management Software Do?

Inventory management software is essential for many businesses to maintain optimal inventory levels, reduce costs, and improve customer satisfaction. Here are five key features of inventory management software:

Warehouse Management

Inventory management software helps businesses keep track of their inventory across different warehouses and locations.

Inventory Data

Real-time information regarding inventory levels, sales, and shipments enables businesses to make informed choices about managing their inventory.

Low Stock Alerts

Automated notifications for low stock levels help businesses avoid stockouts and improve order fulfillment rates.

Barcode Scanning Capabilities

Inventory management software with barcode scanning capabilities streamlines the inventory management process and reduces errors.

Advanced Reporting

Inventory management software with advanced reporting features provides insights into inventory turnover rates, order lead times, and other critical metrics.

Make sure to revisit and watch the supplemental video ‘How to Manage Inventory for a Small Handmade Business’ to observe how individuals utilize small business inventory software in practical situations.

Why Would Small Business Owners Need an Inventory Management System?

Small business owners need an inventory management system to accurately track inventory levels, streamline order fulfillment, and optimize the supply chain. This can help reduce costs, improve cash flow, and ultimately lead to increased profitability.

Choosing the Best Inventory Management Software for Small Business: Our Methodology

Selecting the right small business inventory software is vital for managing stock levels, tracking sales, and planning purchases. Here’s how we appraise inventory software, rated on a scale of 1 to 5, with 5 being the most crucial:

1. Ease of Use (5/5):
   • User-friendly interface
   • Quick setup and onboarding process
   • Intuitive navigation and operations
2. Integration Capabilities (4/5):
   • Compatibility with other business software (e.g., accounting, POS)
   • Seamless data synchronization
   • API availability for custom integrations
3. Real-Time Inventory Tracking (5/5):
   • Accurate and real-time stock level updates
   • Automated re-order notifications
   • Multi-location tracking capabilities
4. Reporting and Analytics (4/5):
   • Comprehensive reporting features
   • Customizable dashboard with key metrics
   • Data-driven insights for inventory optimization
5. Scalability (4/5):
   • Ability to accommodate business growth
   • Flexibility to add new products, users, and locations
   • Scalable pricing plans
6. Customer Support (4/5):
   • Availability and quality of customer service
   • Access to training resources and tutorials
   • Support channels (email, phone, chat)
7. Cost-Effectiveness (4/5):
   • Transparent and competitive pricing
   • Various pricing plans for different business sizes
   • Free trial or demo availability
8. Inventory Forecasting (3/5):
   • Tools for demand forecasting and planning
   • Seasonality and trends analysis
   • Restock predictions
9. Mobile Accessibility (3/5):
   • Mobile app or mobile-friendly interface
   • Accessibility on various devices (smartphones, tablets)
   • Functionality parity with desktop version
10. Security and Reliability (5/5):
    • Robust data security and encryption
    • Regular backups and reliable uptime
    • Compliance with relevant data protection regulations

By carefully evaluating each inventory software solution based on these criteria, we aim to provide small business owners with a range of tools that enhance their inventory management while also promoting operational efficiency and business growth.

The Best Inventory Management Software for Small Businesses

We have gathered the top inventory management systems and software options for small businesses, each offering distinct features and pricing plans.

Cin7

Cin7 is an easy-to-use inventory management software solution and growth platform that automates end-to-end order management across multiple sales channels. It offers two solutions: Cin7 Omni for sales across any channel and Cin7 Core for streamlined operations.

Zoho Inventory

Zoho Inventory provides inventory management software with multi-platform integrations, end-to-end tracking, multiple shipping options, accounting/CRM integrations, and warehouse management. It offers various pricing plans and mobile app accessibility.

InFlow Inventory

InFlow inventory software streamlines inventory management for businesses around the globe by providing features such as barcode scanning, order fulfillment, and real-time inventory tracking. It includes a 14-day free trial, has no setup fees, and integrates seamlessly with over 95 platforms.

Ordoro

Ordoro is an all-in-one platform for online merchants, offering affordable shipping, real-time inventory tracking, and consolidated order management. It has received top performer awards and offers flexible pricing plans.

Brightpearl

Brightpearl offers a retail operating system to automate operations, inventory planning, sales analytics, and integrations. Over 5,000 brands use it to manage supply chain disruptions and seize opportunities for growth. Expert support is provided.

Lightspeed Restaurant (Upserve)

Lightspeed Restaurant (U-Series) is a comprehensive management platform for restaurant businesses, including those with multiple locations. It provides solutions for hardware, support, and app updates. The acquisition of Upserve significantly improved Lightspeed’s offerings for merchants around the globe.

Fishbowl

Fishbowl provides flexible ERP software to efficiently manage inventory, warehousing, and manufacturing processes. It offers real-time visibility, a compliance-ready platform, and integrations with popular business tools, including QuickBooks, Salesforce, and Shopify.

Quickbooks Intuit

QuickBooks Online tracks inventory with real-time updates and reports, including low stock alerts and back order notifications. It syncs with popular apps and offers inventory insights with various reports. Plus, Advanced plans provide additional features.

Lightspeed Retail

Lightspeed Retail provides a comprehensive POS system that consolidates sales channels, inventory, and analytics into a single platform. It boasts user-friendly features such as quick checkout, inventory management, retail analytics, integrated payment processing, and compatibility with other business software.

Sortly

Sortly is an inventory management software designed for small businesses. It offers features such as organizing, managing, reporting, and synchronization of inventory across devices. It also includes a mobile app for inventory tracking. Sortly offers a free trial with multiple pricing plans.

FreshBooks Accounting Software

FreshBooks offers accounting and invoicing software for businesses of all sizes. Its tools include invoicing, accounting software, payments, expenses, time tracking, projects, and reporting. FreshBooks integrates with over 100 apps and provides support from a highly knowledgeable team. It offers a 30-day free trial and has earned an excellent rating based on customer reviews.

Veeqo

Veeqo, a free shipping software, offers low rates, automation, and inventory tools to simplify picking, packing, and shipping. Integration with Amazon provides benefits such as discounted rates and data security. Power features include inventory control, mobile picking, and analytics.

Katana

Katana is a cloud-based manufacturing software that offers inventory, production, accounting, and real-time data management and integrates with various business tools. It provides total shop floor control and multichannel order management. A scalable solution, the platform’s customers range from hobby makers to multi-million dollar businesses.

ShipBob Merchant Plus

ShipBob’s Merchant Plus provides all-in-one cloud-based warehouse inventory management solutions that streamline inventory, order, pick and pack, transportation, reporting, and analytics. The easy-to-use software’s blended fulfillment option allows businesses to access available capacity across ShipBob’s 40+ warehouses worldwide.

Netsuite

NetSuite Inventory Management is a software solution that offers real-time visibility of inventory across various locations and sales channels. This capability enables businesses to lower costs while satisfying customer demands. It streamlines inventory tracking and demand-driven planning, reducing manual processes, challenges, and unnecessary handling. The pricing structure includes an annual license fee, optional modules, and a one-time implementation fee.

Here is a quick snapshot of those options in tabular form for easy reference:

Remember: For specific pricing, it’s recommended to contact the software provider directly, as some prefer to tailor the cost according to the business’s size and needs.

How Much Does Inventory Management Software Cost for a Small Business?

The cost of inventory management software for small businesses can vary greatly and is influenced by several factors. This variation in cost can be attributed to the nature of the software itself and the size and complexity of your business operations.

Here’s a more detailed breakdown:

1. Software Features: The cost of the software is significantly influenced by the features it offers. Basic inventory management software might offer simple functions like tracking inventory levels and generating basic reports, while more advanced systems might provide features like multi-channel selling, advanced reporting, integration with other business systems, predictive analytics, and automation of complex processes. The more sophisticated the features, the higher the cost will likely be.
2. Number of Users: The price of inventory management software often scales with the number of users or user licenses you need. For small businesses with a small team, this might not significantly impact the cost. However, as the team grows, the cost can increase.
3. Deployment Model: The choice between on-premise and cloud-based software can also affect the price. On-premise solutions often require a larger upfront investment for the purchase and installation of the software, but they may have lower ongoing costs. Cloud-based solutions, on the other hand, typically have lower upfront costs but require a monthly or annual subscription fee.
4. Vendor Support and Updates: Certain vendors may impose additional charges for support services and regular software updates. It’s essential to factor this into the overall cost.
5. Training and Implementation: Depending on the complexity of the software, there might be costs associated with training staff to use it and implementing it in your business.

Given these variables, a basic inventory management software might cost as little as $50 per month, while more complex systems with advanced features can cost several hundred dollars per month. In some cases, costs could go into thousands per month for large-scale, fully integrated systems.

Another key point to consider is that you require scalable and flexible small business inventory software if you intend to grow your business. As a result, you should also evaluate factors beyond just cost, including scalability, ease of use, and integration capabilities.

Choosing the Right Inventory Tracking Software

Choosing the right inventory tracking software for your business involves considering your business’s unique needs, such as the number of products, sales channels, and warehouses. For example, businesses that sell on marketplace sites may focus on eBay inventory management tools, while those with a physical location should focus on features for tracking inventory in person. Other important factors to consider include the software’s ease of use, cost, and customer support.

The Bottom Line

Having the right inventory management software can help small businesses overcome inventory management issues, reduce costs, and improve customer satisfaction. The 15 best small business inventory software options we have outlined in this article offer a range of features and pricing plans to suit different business needs. By investing in inventory management apps and integrating them with invoicing software, businesses can streamline their retail inventory management process and focus on growth, rather than focusing on how much does it cost to start a business.

Inventory Management Software for Small Business FAQs

What is the Best Software to Keep Track of Inventory?

The best inventory management software depends on your business’s specific needs. Popular options include Zoho Inventory, Cin7, and InFlow Inventory. Be sure to research other inventory management software to make an informed decision specific to your business needs.

Does Quickbooks Have an Inventory System?

Yes, QuickBooks provides an inventory system that monitors inventory levels, costs, and sales. However, it might not be the best fit for businesses that require more complex inventory management solutions.

What is The Best Way to Keep Track of Inventory for a Small Business?

The best way to keep track of inventory for a small business is to use inventory management software that offers features such as real-time tracking, low-stock alerts, and analytics. If you have a low budget, you may want to research free inventory management software options.

What is the Easiest Way to Keep Track of Inventory?

The easiest way to keep track of inventory is to use barcode scanning inventory management software. This eliminates manual data entry and reduces errors. Software like Wasp Inventory Control and EZOfficeInventory are easy to use and offer barcode scanning capabilities.

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