Running a Business

Best Inventory Management Software

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Last updated on September 7th, 2019 at 05:30 pm

inventory management softwareCompanies need to keep track of their inventory to know what they have in stock to sell, to know when more inventory we need, and to report the overall assets for financial reports.

Choosing the right inventory management software for your business is not an easy task.

You want to know that the system that you are using will integrate with the other software programs that you use in your business.

Has the right features that you need to track inventory easier. Also, the support that you need fixing issues, get the answers that you need to keep your business running efficiently.

Comparing the Top Inventory Management Software

#1. Inventory Management: TradeGecko

TradeGecko is an inventory management system that allows you to save time by making your inventory managing process easier.

You’ll be able to sell more because they create tools that’ll allow you to engage with more opportunities and customers.

You’ll work smarter because all the products, orders, transactions, and customers are backed up, secure, and synced to the cloud.

It allows you to take control since commerce is consistently evolving. TradeGecko makes enterprise-level tools that are available to every business.

Features 

TradeGecko is a comprehensive online system for inventory management. It works to make commerce for retailers, distributors, and wholesalers effortless.

They allow you to manage your inventory, sales, and purchasing in a system. And that is not only easy to use but one that also connects your online and offline sales channels.

It keeps everyone in the know. You will be able to easily access your customer’s records and their purchase history.

This information along with their preferences will improve the overall shopping experience for your consumer. And that positive impact will increase their brand loyalty and increase your sales.

You can utilize TradeGecko’s B2B Platform for eCommerce that’ll allow wholesales to sell their goods online and on the road. It only takes a few minutes to create a unique experience for your customers.

You can create tailored pricing lists for various customers. Plus, you can hide or show various information, including product tags, stock levels, and other variants.

That way each one of your customers can have an individualized experience and you can maximize your profits, by regulating the prices that you charge for your goods in different markets.

Boost your sales with the TradeGecko’s eCommerce choice with easy reordering and ability to browse the frequently ordered list and new products.

It is the best way to offer some consistency with your brand, sell globally, and make it easy for you and the consumer to get what they need every time.

Also, it is in their versatility, that they can reach and assist many kinds of businesses. It is the best way to ensure that you are offering your clients that things that they need in a format that works harder for you.

Manage your inventory

You can manage all the products in one place to make it simple and easy to control. It connects with Xero or QuickBooks for accounting and that allows you to create purchase orders and quotes quickly and easily.

Taxes, price lists, warehouses, stocks, and currencies are all in the system and ready to use instead of on spreadsheets.

It allows for the easy management of your inventory to help you clear your stock and maximize your profits. 

Selling your inventory

TradeGecko allows for a central hub on Amazon, Magento, WooCommerce, or Shopify. The system optimizes its tools to help wholesalers grow their business.

Plus, you can manage all your orders and customers directly from your phone with the free mobile app. 

Growing your business

With TradeGecko, you will be able to get a defined picture of your data, so that you can predict various trends as your business grows.

You can collaborate with the entire team and save time that is usually spent on processes. This can allow you the ability to explore new opportunities and gain a larger share of your key market segment.

Pricing

TradeGecko charges $99 per month with a 14-day trial for the inventory management system. The B2B platform is an additional $79 per month.

#2. Our Next Best Pick: Acctivate Inventory Management

Acctivate Inventory Management Software keeps you connected.

The Acctivate system seamlessly integrates with Intacct, QuickBooks, and leading providers for shopping carts.

You can use the system on-premise or in the cloud. Both offer the same power and functionality, so you can choose the system that works the best for you and your business.

The Features

This powerful inventory management options can help you run your business simply and easily. It is powerful enough to handle small and medium-size businesses without the hassle of being over complicated.

The software is built to scale so that you won’t be stuck with a system that cannot handle the size of your inventory or accommodate the scale of your business.

They design the system to handle the unlimited number of staff on the system, so you have the versatility that you need to allow your business to grow.

Activate advertises that it is affordable. However, in comparison with Fishbowl and TradeGecko, it has the highest upfront cost. There are many useful features that are perfect for a variety of businesses.

They design the features to meet your business’s needs and are customizable to fit your business. The system works to increase overall productivity and helps to promote collaboration.

Acctivate allows the warehouse, sales department, marketing department, customer service department, and purchasing department to work together to get things done in real-time.

That way everyone is on the same page and working towards the same goals. Your warehouse will be able to pull the order and get it ready to ship, right when the order is placed and put into the system.

That way, they can get the customer what they need faster. Increase your profits and make your customers happier with better inventory control. A great inventory system leads to less lost sales and a higher profit margin.

Because you can push inventory that has been sitting in the warehouse longer. Plus, you won’t reorder the products that you have buried in your warehouse somewhere.

Cost

Packages start at $4995 with Acctivate. There are several options to choose from and you can choose the one that works the best for your business.

Downside

This is the most expensive option. However, you don’t have to pay a monthly fee for the life use of the system. Once you pay the one-time fee, you can use the system if needed.

Verdict

Acctivate is an inventory management system that can grow with your business. There are add-ons and features that will allow you to get the most out of the system and add things as they become pertinent to you and your needs.

#3. Another Option For Inventory Management Software: Fishbowl

Inventory management is much more than just simply knowing what you have in stock to sell.

The creators of the Fishbowl Inventory Management system know that it is also important to be able to track the items in the inventory that are selling and get rid of the items that are slow to sell.

Fishbowl works to help you balance the levels in your inventory, so you have the right items in stock and less of the items that are doing not produce a profit.

The Features

Fishbowl can integrate with QuickBooks so that you can simply scan the barcode of the product and it will update your records. It will save you time and prevent double data entry.

Time is money and Fishbowl knows how to reduce the time that it takes to do things that are not immediately concerned with making money.

The system developed by Fishbowl allows for growth. As your business grows to expand to new locations or face additional challenges.

Fishbowl will grow with you. It is designed to be able to offer the same quality services regardless of how large you get or how much inventory you carry.

Price

Plans with Fishbowl start at $295. There are customizable options so that you can choose which plan works the best for you and your business’s needs.

Customer Service

There are customer service representatives available on the phone and online. There is also knowledge base support to answer your questions and video tutorials to help you get the most out of the program.

Verdict

The analytical tools will help you become more responsive to the needs of your customers. So, when their needs change, we can prepare to change with them.

You will have a record of the product sales and the overall orders quickly assessable, so you can concentrate on the service and get the consumer what they need.

Planning is a key way to appease your customer and maintain the competitive advantage over your competition.

#4. Our Fourth Pick Of  Inventory ManagementSoftware: NetSuite

NetSuite offers a comprehensible service package that offers the whole package for your business.

It does more than simply offer inventory services. However, the system will allow for a more complete inventory tracking and management.

NetSuite offers companies small, medium, or large the functions and capabilities that they need in their industry. This customizable option is one to consider, predominantly because they build it to meet the individual needs of your business.

The Features

Instead of integrating with systems like QuickBooks, it replaces them. It is a full-service powerhouse suite of tools that allow businesses of all sizes and in all different industries the services and tools they need to stay informed.

So, whether you are looking for a tool to help track your purchases to managing relations with your customers, NetSuite has the options that will help you accomplish your goals.

Customizable

NetSuite offers a wide variety of financial management solutions, order management, production management solutions, supply chain management, warehouse and fulfillment, and procurement services.

NetSuite Inventory Management is one of the many services that the company provides to its customers.

Cost

Prices may vary dependent on the package that you choose.

Downfall

The company offers a variety of services and this can take away from their ability to become specialized in inventory management services.

Verdict

NetSuite offers a variety of services that can help businesses with management of their finances, orders, production, supply chain, and inventory.

#5. Option Five: Sellbrite

Sellbrite allows its users to manage their inventory and list these items on multiple channels.

It integrates with Amazon, eBay, Etsy, Shopify, Big Commerce, Magento, Woo Commerce and more.

This is a multi-channel e-commerce system that is cloud-based and ready to get your products out the door and into your consumer’s home. It allows the users to manage their sales, sync their inventory, and fulfill their orders.

The Features

It is not just an inventory management system, but more of a full online business integration system.

You can create and publish listings, control inventory, manage orders, fulfill orders, and create solid and powerful reports that will help you make educated decisions regarding what you stock.

How much you keep in stock, and which products are worth getting rid of. With an excellent customer service department and the ability to assist you in optimizing your data, you will be able to improve your bottom line easily.

Pricing

The standard package is $260 per month and includes smart automation that will keep your various channels of business in sync. There is a 14-day trial period and no credit card needed to join.

Sellbrite offers a premium package that offers advanced features, support, and channels for a growing business that was $345 per month. They offer yearly billing as well. You will get two months free with the yearly billing option.

Downside

This option is higher in price than the other options.

Verdict 

Sellbrite offers services that will help your business manage the inventory, sync prices, and build listings.

Our Final Say on Inventory Management Software

Versatility in business is important. You want to make sure that the inventory system that you choose can accommodate as little or as many products as you need it to.

When dealing with an inventory management system, you want to be able to track your products in transit, on order, and in the warehouse. You need to know where they are and what you have so you can offer the client what they need.

When it comes to tracking your inventory, you don’t want to have to physically go to the warehouse to see if you have something in stock.

We live in a world of instant gratification, and if you are continuously making your customers wait while you search for something in the warehouse, they are liable to find it on their phone or decide to go somewhere else.

Our First Choice Is TradeGecko

TradeGecko is the ideal choice where you can have an inventory management system that works with your business to ensure that everyone knows where the product is at any certain time.

TradeGecko is all about giving you more. There offer some free management tools that will help you grow your business. One of these great tools is the “Reorder Point Calculator” that allows you to order more stock when you need it.

It looks at the lead time for getting the product and works hard to keep your products in stock. It only takes one time that a consumer doesn’t find what they need to lose them as a customer. So you want to keep what the consumer needs in stock.

Not to mention that every sale counts and when you don’t have what the consumer is looking for in stock, you can lose that sale.

TradeGecko also offers an Excel Inventory Management Template that is useful to track your stock, orders, sales, and more.

It is a great way to keep the information that you need on hand and in an easily accessible format that works great for printing.

When you want an easy way to check your physical stock with the stock showing in the computer, this template is a great option.

Intuitive Tools From TradeGecko

Check out some other free tools that TradeGecko offers like the invoice template that you can get for free. It is an easy way to bill your consumer for your goods or services, without having to pay for some fancy formatting and creation.

There is a “Pick Pack for Shopify” that makes it easy to fulfill the order process, and Economic Order Quantity calculator that helps to minimize costs and match the consumer demand, and SKU Generator.

That uses the details of the product to create product codes that are unique. The providers design these tools to help you run your business more efficiently and effectively.

The WiseSmallBusiness Team is full of industry experts and successful business owners  willing to contribute important business articles.

1 Comment

  1. John Britto Reply

    Thanks for sharing the top players of inventory software. Here I’d like to recommend Contalog, is a SaaS based inventory management software for retailers, offering an array of features, such as real-time inventory tracking, integrations, channel specific stocking, warehouse management, stock Adjustment, report creation, receipts and much more easy with Contalog. Check it out : https://www.contalog.com/inventory-management-software.php

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