10 Best Inventory Management Software in 2024

One of the hardest tasks store managers have to deal with is inventory management. Most businesses still fumble around with common inventory errors like double entries, inconsistent measurements, and incessant headaches caused by human errors in your inventory system. If your business is in this category, it’s time you employed inventory management software. 

Inventory management software helps businesses accurately track inventory levels, orders, sales, and deliveries all without making a single error. This tool also helps businesses avoid common store-keeping problems like over-stocking or product outages. It is a very cost-effective way to manage all your inventory data by eliminating the need for hard-copy records or spreadsheets.

However, not all tools are suitable for every kind of business as some tools favor small and medium companies while some are designed to serve large warehouses. To help you find the perfect tool, we’ve curated a comprehensive list of the ten best inventory management software to help you sort and track your inventory anytime any day.

Best Inventory Management Software

Here are the inventory management software:

1. Orderhive

Orderhive is a multi-channel inventory management software that can help you automate your entire workflow in your inventory. The service is trusted by over 5,500 e-Commerce companies around the globe helping them save time spent on managing inventory and instead it helps them repurpose that time to help improve the growth of their business.

Aside from e-Commerce automation, Orderhive helps companies access real-time reports and analytics that aids actionable data-driven decisions. Orderhive also controls the financial aspect of their company by facilitating payments and invoicing through tools like QB and Xero.

With Orderhive, you don’t have to worry about manually updating your live inventory as the software automates warehouse procedures with faster, more optimized inventory control. 

Orderhive offers four pricing plans starting at £44.99 per month for the lite plan and goes up to 269.99 per month for the Growth plan. However, they do offer users a free trial with no credit card input required.

2. inFlow

inFlow is a cloud-based inventory management software that aims to provide sustainable solutions to the tough task of inventory management. Users can access the service from any device including your smartphone allowing stock managers to help track their inventory on the go.

inFlow provides users with an up-to-date visual representation of their current stock and product inventory for not just a singular office but multiple offices and warehouses. With just a couple of clicks, users can access inFlow on their mobile to track sales and purchases, manage inventory, and more impressively manage shipping.

With inFlow, users don’t have to employ additional software to handle separate areas of inventory management as this tool is designed to be an all-in-one solution to all your inventory aches.

In addition, inFlow provides an online portal functioning as a showroom that displays your available goods to your customers in real-time without having to set up an e-commerce site.

3. NetSuite ERP

NetSuite is an inventory management software that provides users with real-time information on inventory across all offices, inventory, and sales channels. It allows businesses to save up more cash normally allocated towards manual inventory records. 

The software ensures that users never run out of inventory stock by optimizing inventory levels and ensuring product availability across channels all at a very low cost. NetSuite is perfect for automating inventory tracking across multiple inventory locations and maintaining the inventory visibility of a company.

Companies of all types and sizes can utilize NetSuite as the service offers flexible payment plans to cater to companies no matter how big or small. The base annual license contains the core platform, optional modules, and the stipulated number of users. You can always upgrade the features of the service as your company grows.     

4. Monday.com

Monday.com is a multi-purpose service that offers solutions in virtually all business areas like software development, CRM, project management, and of course inventory management. Monday’s inventory management software provides users with a customizable cloud inventory management system designed to meet your specific needs.

The dashboard is beautifully designed and has an easy-to-use UI that allows anyone in your team to easily initiate and monitor orders to ensure that they’re fulfilled without errors or delay. From your custom dashboard, you’re provided with a comprehensive overview that immediately identifies what items need to be restocked, available space for inventory, and many more.

With Monday.com’s cloud software, you will be able to track your shipments and inventory to prevent you from running out of stock.

5. GEP NEXXE

GEP NEXXE is an AI-powered inventory management software designed to tackle the complexities involved with global supply chains. Due to its built-in AI engine, this software unifies inventory management activities by monitoring stock levels, optimizing inventory, and is capable of generating AI-recommended replenishment orders and forecasts.

With GEP, supply teams can easily undertake complex end-to-end warehouse operations from a single platform.GEP provides supply teams with accurate and regularly updated inventory records to prevent shortages and stockouts.

It integrates seamlessly with third-party APIs like GEP CLICK, SAP Ariba, Oracle SCM, or any major ERP to provide supplied teams with a unified inventory system.

6. Lightspeed Retail

Lightspeed Retail is an inventory management software that is built primarily for empowering retailers. It helps retailers simplify inventory management procedures by providing them with easy-to-use software capable of automating all inventory-related activities. 

It is a versatile software that easily adapts to any kind of product currently being retailed by the seller; whether it’s a bundle, a unique, or a serialized product, Lightspeed is capable of managing your inventory process.

Some outstanding features of Lightspeed include the ability to track inventory across multiple locations, create product variants like colors, sizes, and more, it also simplifies your boxed inventory if you sell by singles and packs. 

Lightspeed integrates perfectly with popular POS software enabling you to order directly from your POS system with built-in purchase orders.

7. Upserve

Upserve is an inventory management software designed specifically for managing the inventory of restaurants. The software helps restaurants of all sizes streamline their inventory management, boosts profits, and also helps in reducing food costs.

Users can save up to 30 to 50 hours monthly by eliminating the need for pen, paper, and spreadsheets inventory management. Upserve automates the time-consuming tasks in a restaurant by instantly updating the inventory as each item is sold and purchased.

Upserve ensures you never miss an order or a shipment as the software provides you with regular inventory alerts. With this software, you can also determine if food is being wasted or eaten to help you avoid unnecessary food costs thereby maximizing your profits. 

8. ShipBob

ShipBob is an eCommerce inventory management software that simplifies your inventory management procedures. The software integrates order fulfillment technology and other exclusive features to its inventory solution to provide merchants streamline inventory management.

With ShipBob, sellers can manage inventory data across multiple storage locations anywhere in the world. The software provides users with an inventory tracking feature that displays the status of their inventory in real-time. 

From ShipBob’s dashboard, merchants can easily calculate and automate reorder points to maintain the amount of stock available. The automated reorder feature ensures that you’ll always have enough stock in your inventory to last till your next batch arrives.

9. ShipHero

ShipHero doubles as a shipping software as well as an inventory management software. The software partners with eCommerce leaders like eBay, Shopify, FedEx, ups, Amazon, and a lot more eCommerce platforms to help merchants easily monitor, track, and maintain a sustainable inventory.

ShipHero provides a one-click integration feature designed to work with virtually any eCommerce brand making it easy to manage orders and returns. The software also provides merchants with constant communication with their sales teams to ensure that products are always available in the inventory.

It also features an intuitive dashboard that can be accessed via iOS to help initiate, track and monitor shipments.

10. Megaventory

Megaventory is a cloud-based inventory management software that helps manufacturers and distributors make the most out of their inventory management. The software provides users with a wide range of features spanning order fulfillment, inventory management, data administration, and report creation.

Megaventory is perfect for distributors and manufacturers managing several offices with a single inventory as this software provides them with stock alerts, product cost tracking, transfer between locations, supplier availability times, and many more.

The service is suitable for all kinds of merchants as Megaventory provides users a flexible pricing plan including a Pro and an Enterprise plan to ensure that no supplier and merchant is left out.

Conclusion

Business has gone beyond traditional in-person buying and selling. The online market is proving to be one of the most viable means to sell your products. However, you need to accurately manage your inventory to ensure you never run out of stock.

Inventory management software helps you maintain a compact and up-to-date inventory, feel free to test any of the tools we listed above. If you’re not ready to pay, you can always try a free trial, some services don’t even require you to provide a credit card.