Easily complete basic inventory management tasks with our system, best free inventory management software in 2022, how to organize inventory for small businesses, Handles multiple channels, warehouses, and currencies, Can monitor expiration dates on batch orders, Steep learning curve when learning to use the platform, Purchase order only included in higher plans, Integrates seamlessly with ecommerce and in-store POS, Advanced CRM, vendor, and granular inventory reporting, Does not have functions for managing perishable goods, Centralized inventory across multiple channels, Advanced purchase order options, including custom fields, duplication, and importing/exporting features, Free onboarding and training for first 30 days, Lacks inventory management in the basic plan, Higher price point than most inventory software, Complete shop floor control, including supply management, Break down every menu item by ingredient cost, Menu reports helps you understand most and least profitable items, Flexible integration solutions for POS and accounting software, Multiple location tracking only available on Ultimate plan, No ecommerce integrations for online ordering, Inexpensive plan for microbusinesses and solopreneurs, Specialized tools for auto service centers, plumbing, HVAC, repair shops, Integrations via API and Zapier only; some in development, Mobile app only works for work orders rather than inventory, Lacks strong vendor management and purchase order functions. Manage your shipments easily and view orders pending, in transit, and received. (Source: Zoho). 
Orderry earned 3.5 out of 5 on our rubric. Finally, we accounted for our personal experience using each system and interacting with its customer service representatives, its reviews, and the personal experience of other small business owners. Small business owners face many challenges when theyre just getting started, such as securing financing, finding customers and managing inventory. Low stock alerts, assign multiple suppliers to one product, automated PO creation.
We looked at inventory-first programs as opposed to POS programs with inventory. All plans include unlimited orders and 24/7 email support. Because Lightspeed focuses on retailers, when you are exploring the site, you can choose from a variety of different business types like apparel, CBD stores, gift shops, home, etc., and then Lightspeed will show you how its platform can work in your specific retail industry. Interested in learning more about POS inventory management systems? Periodic inventory systems are typically used by businesses that sell a low volume of items and dont require a highly accurate picture of their inventory levels. As small businesses grow they think they have to leave their accounting solution for a more expensive solution to take their business to the next level. With automatic reorder points, inventory forecasting, barcoding, order fulfillment, and other features, inventory control system helps small businesses to: Fishbowl 2001 - 2022 | Developers of the #1 manufacturing & warehouse management solutions for QuickBooks. We also awarded points to systems that provide an unlimited number of users and inventory items in its base plan. TIP: Looking for a free inventory management system? Duplicate bills of materials for a variety of manufacturing jobs. The moral of the story? (Source: EZRentOut). Automated tracking and low-stock alerts, dropshipped product inventory is decreased after order is marked as shipped or a label is created. Access Fishbowl on desktop computers or remotely from virtually any device or Web browser. Since everything is recorded by hand, a periodic inventory management system also doesnt provide up-to-date stock and inventory levels. (Source: EZRentOut), Employees can request new stock or replacement stock with new stock requests. Create and send purchase orders; file and track them for future use. (Source: EZRentOut), Add both inventory items and assets to your items list, perfect for rental services. Inventory management is different from inventory control, which focuses more on the processes involved in purchasing, shipping, and storing inventory. Place orders in the app and send them to vendors in their preferred format, automated low stock alerts, ingredient/recipe level tracking, track in custom units (oz, lbs, size). Use MarketMans reporting features to see tons of reports, including what ingredients you use most often and your purchasing for each week. Katana earned an overall score of 3.8 out of 5 in our evaluation. The warehouse management system received perfect scores on its inventory features and was the leading software for ease of use too. Free plan for Shopify users; serialize inventory; manage variants to bundles. Best Mortgage Lenders for First-Time Homebuyers. Orderhive cloud inventory earned a respectable 4.22 on our rubric. Inventory management software should help businesses track items or parts throughout the supply chainfrom the manufacturer or wholesaler through assembly, storage, and saleand have tools that give you insights into your performance and features specific to your industry. by Rhin Davies |
Because of this, Ordoro makes supply chain management easy and efficientan ideal solution for dropshippers and volume sellers. Integrate your Agiliron account with tons of different sales channels and software. For businesses with relatively few inventory items, the cost of barcode inventory hardware and software may not be justified. (Source: Orderry), View tons of reports about your products and see how they are performing in real time with Orderrys analytics and reporting tools. View your stores performance for the day at a glance on your home screen dashboard. Learn more in our full Lightspeed Retail review. Automate ecommerce tasks for order creation, inventory, purchase orders, dropshipping; split ordering, fraud order handling. (Source: EZRentOut), View tons of different reports for anything from your customers to taxes to orders. We gave Orderhive a perfect score, while EZRentOut and Katana came in next with 4.75 out of 5. Interface can be difficult to navigate at first, but you have access to 24/7 reports and one-on-one onboarding support. Barcode or QR code can include geo-location and IP address in higher plans. It can help you save money and keep the customers you serve happy. Fit Small Business content and reviews are editorially independent. Assign barcodes to orders, products, serial numbers, bin locations; scan barcodes; no mobile. 
Click through the tabs below for our full evaluation criteria: We prioritized software that include a free plan or free trial and offer a plan option under $100. Custom fields for product pages, click-and-collect ordering, inventory counting features, custom reporting options, multi-location reporting, included CRM. (Source: Agiliron), The Agiliron mobile app is great for warehouse managers to use when they are on the ground and need to access information. All of that, paired with MarketMans rich bank of integrations with most popular POS systems and robust invoicing and scanning functions, make it a valuable tool for any restaurant that wants to better understand its inventory and save costs. 
Zoho inventory is one of the cheapest of the inventory systems on our list, except for Orderry and EZRentOut, and offers a permanent free plan thats excellent for limited use. Its among the highest-pricedonly Ordoro has higher-priced starting plans on the list. Image source: Author. Wix, ShipStation, Shopify, and WooCommerce. If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience. Print invoices, packing lists, and other important documents to include with shipments. Instead of tracking inventory on a daily basis, a periodic inventory system tracks inventory at the end of an accounting period. (Source: Orderhive), Create purchase orders right on your Orderhive account so you can manage your incoming and current stock from one place. She is versed in retail sales analysis, merchandising, and buying with an emphasis in retail sales and marketing across platforms. When each product is purchased, sold, or moved, its respective barcode can be scanned into inventory software, which then automatically updates inventory levels and information. We did not consider enterprise-level systems. 
At first, I was pretty excited to be involved in such a grown-up task, and I envisioned myself scanning barcodes and being in charge of my own section. 
(Source: Katana). In order to take advantage of the inventory features, you need to be subscribed to one of the following plans: Flexible pricing available for seasonal businesses. Centralized inventory tracking, onboarding specialist, and an online learning center with videos; complex program with a steeper learning curve. 
It even has adjustments so that you can sell products you dont move as well. It received the highest overall score (4.71 out of 5) among the inventory platforms we reviewed. Not only can you conduct sales both online and in-store with Lightspeed, but the platform tracks all of your inventory levels in real time across multiple locations and channels, allows you to run advanced reports, and integrates seamlessly with ecommerce stores. Published on May 18, 2022. The reader reads data from the tag, which usually includes an identifying inventory number or product-related information such as stock and batch numbers and production dates. Large businesses need something more robust, like an enterprise resource planning (ERP) system. If you run an ecommerce or have an online dropshipping business look to Orderhivefor a relatively inexpensive solution perfect for managing inventory in ecommerce business. Easy-to-use overall, with intuitive navigation; users say setup can be overly complex; three levels of support, with paid support 24/7; training available. We may make money when you click on links to our partners. 
(Source: Orderry). Retail, ecommerce, B2B, wholesale, and manufacturing. However, for businesses with high levels of inventory, spending on an inventory tracking system is an investment that will help things run smoothly and save time on manual tracking. How Much Does Home Ownership Really Cost? Agiliron is a multichannel management system with ecommerce, social commerce, retail, and wholesale functions. (Source: Orderhive). Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. All rights reserved. (Source: Orderry), Create different kinds of inventory like assets, stock, postings, or transfers. 
Bundling and kitting: fractional kits, kit-related products, products with varying quantities, multi-warehouse, and products with components. The Motley Fool has a. Tools, consumables, client items; bundles, bin locations, multiwarehouse; track by employee as well as location. Create purchase orders and assign them to accounts and salespeople. Important features (such as real-time and multilocation tracking), the ability to do mobile inventory counts and granular inventory, and the types of reports it can deliver (like COGS and costing reports) were also considerations. It's an affordable and robust inventory management software thats flexible and can grow with you. Inventory control also means tracking movement to help identify under-performing products to prevent you from ordering and storing stock you don't need, and, likewise, identifying fast-selling products that require more frequent replenishment so you don't run out. Copyright, Trademark and Patent Information. 
While customers enjoyed the range of features and said it was reasonably easy to use, several did mention that it was initially intimidating and took longer to learn. Check out our guide to the best free inventory management software in 2022. Its integrations (plus available shipping discounts) and advanced inventory management solutions (such as kitting and bundling) contributed to its high score. However, its one of the few on the list that can track supplies, even by volume and expiration date, and offers batch tracking and multiwarehouse management. This software earned a 4.67 out of 5 in our evaluation, the highest score of any inventory management software we considered. Many or all of the products here are from our partners that pay us a commission. MarketMan streamlines restaurant purchasing on to your inventory dashboard, utilizes supply tracking based on expiration dates, and allows you to manage your accounting processes from the MarketMan dashboard. For a less expensivethough simplersoftware, Zoho Inventory is your best bet. However, for businesses with large inventory levels, barcode inventory systems can be a welcome addition since they help reduce errors made by manual systems and help capture the most accurate and timely inventory data. Orderrys management system can track tools, supplies, and even the items your customer leaves in your care, something not seen in the other software on this list. Many are tied to point-of-sale systems, but there are some that work alone or with accounting software. That, along with limited customer support hours, hurt its overall score. (Source: Agiliron), With the New button you can take tons of different actions, including creating purchase orders, new products, or even vendors right from your home page. The system has advanced bundling and kitting features for combining multiple stock-keeping units (SKUs), is customizable to different types of businesses and use cases, and has an intuitive interface. It earned an overall of 4.38 out of 5 on our inventory management software assessment criteria. Additionally, the Operator plan is extremely sparse in terms of included features and integrations. Ordoro alone on our list offers seasonal pricing. Enjoy all the barcode functionality you need - generation, printing, and scanning. 
Understanding Homeowners Insurance Premiums, Guide to Homeowners Insurance Deductibles, Marcus by Goldman Sachs Personal Loans Review, The Best Way to Get a Loan With Zero Credit. Meaghans 10+ years of retail experience includes working at local book and dance supply stores, handcrafting gifts at an eco-friendly manufacturer, developing private label brands, and managing a team of more than 40 sales and service professionals at a local spa. Inventory management software helps streamline and automate inventory management and inventory control processes so that you can focus on the bigger picture. Simple interface, knowledgebase, tutorial videos, contact support by email only. The main benefits of using a perpetual inventory management system include having an accurate and up-to-date view of inventory levels that enable businesses to order the right amounts of stock and not needing to create closing entries. Zoho and Agiliron both earned perfect scores. Amazon, eBay, Etsy, Shopify, Zoho Commerce, and more via third-party integration. (Source: Katana), If you buy manufactured goods rather than make them, you can submit POs and monitor their progress in the Buy section of your Katana account. This means that updates are automatically made to inventory levels when items are bought and new inventory is received, and purchases and returns are instantly recorded in your inventory accounts. At the age of 16, I was told that I would be required to stay until 10 p.m. on the last Saturday of every month to help count the stores inventory. Zoho offers a rich library of reports that you can utilize to understand your business and its inventory. Meaghan Brophy is the Retail Expert at Fit Small Business focusing on small business retail and ecommerce content. Select the newsletters youre interested in below. It offers the most important features needed to run a smooth store and ecommerce program. While MarketMan has great tools for restaurant inventory management, earning it a score of 3.58 out of 5 in our evaluation, it does lack some features that other types of retailers or manufacturers might need. 
Job costing, production planning, and automated workflows. Repair shops of all sizescellphone, computer, auto, appliance, power tools, service centers, plumbing, contractors. (Source: Katana), You can view your inventory from across warehouses and production plants all from your Katana account. (Source: Lightspeed), On Lightspeeds inventory page, you can utilize tools for making purchase orders, adding vendors, and organizing products into matrices and bundles. One of my first jobs was as a sales assistant in a small clothing store in my hometown. Create work orders straight from your Orderry account and attach assets and merchandise to the task for tracking. It encompasses making sure the right levels and quantities of stock are available at the right time and in the correct locations. 
The store no longer exists, but the memory of terrible inventory management lives on. RFID tags cost a lot more than regular barcode labels and require specific readers. The right inventory management software makes the job easier. The system does not require inventory management software. Further, its the cheapest inventory management tool on our list. Inventory is the lifeblood of your business. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. 
While it got a great score for its features, you may find more industry-specific tools in EZRentOut or Lightspeed, which are more targeted for rental operations and retailers, respectively. (Source: Orderhive), Orderhive can manage and track products and bundles/kits across multiple warehouses. Track items, set reorder points, create reminders, conduct sales, transfer stock between locations, and create inventory groups. For example, small businesses like retail stores typically use a simpler inventory system, often one paired with point-of-sale (POS) software, while B2B businesses need a system with more assembly or accounting tools. This occurred every month without fail. Asset tracking includes brands, models, types; can track assets being diagnosed or repaired, or assigned to employees or contractors. (Source: Lightspeed). Katana also lacks a mobile app, like Orderry and Ordoro, and has limited integration capabilities compared to Shopify or Orderry. Here are the three main benefits youll enjoy by implementing Fishbowl: To make these benefits possible, here are some of the key features the Fishbowl inventory system offers: What exactly does Fishbowls integration with QuickBooks allow you to do? All rights reserved. Square, Tablet POS, Revel, Toast, Lightspeed, Lavu, Clover, EZ Dine, iKentoo, POS iTouch, Tray, and Aloha. Brigitte is a retail specialist and staff writer with brick and mortar management experience. It took hits for limited integrations, which, like Orderry, are primarily through Zapieralthough it offers an ecommerce store for online renting and sales. Intuitive interface, 20/6 technical support, onboarding assistance ($99), and knowledgebase. Generate and receive work orders on a multi-level basis. The barcode numbers can represent several different pieces of information related to the item, including the supplier and manufacturer, location of the product, weight, the amount of each item in stock, and so on. Rhin Davies is a software specialist working for The Ascent and The Motley Fool. The downside of this method is that it requires investment in technology and software to carry it out correctly. (Source: Agiliron), Adding a new sales channel is as easy as inputting its URL, and then Agiliron will integrate your store for inventory tracking. Nearly all of the inventory management software on this list can support manufacturing with bundles and kitting features. At least two dozen software services were examined, and from here, we narrowed our list down to systems that are easy to use and have pricing plans suited for SMBs. On a budget? Visit Zoho and try it for free. (Source: Agiliron). Perpetual inventory management systems track inventory on a continual basis. 
For example, a jewelry store that sells a small amount of high-value items would use the periodic system since stock levels are easy to record and track. Unfortunately, Lightspeed lacks tools for managing perishable goods, as you find with Zoho or MarketMan. Twitter This software excels in ensuring information is not siloed, so you can find what you need wherever you are. 
Manage product deadlines, automate customer order processes, detailed inventory tracking, B2B and ecommerce, sales orders. Theres no rule dictating which type of inventory management system you should choose, but you do need to make sure that whichever you choose, its helping rather than hindering you to correctly track inventory.
It earned a nearly perfect score in terms of its inventory features and ease of use, but got docked in the pricing section for its lack of a free planif this is a consideration for you, consider Zoho. (Source: Orderhive).
We selected Orderryfor our list because it provides strong tools for repair shops of any size and any kindfrom a one-man auto parts business to a computer repairs enterprise. Customers say its a very easy-to-use software; several comments about translations needing work. Input and track manufacturers, Amazon, or other SKUs. In addition, it has work order management that takes you from leads to repeat sales and includes a scheduler and more. It is, however, the most expensive system on our list; if you want something equally feature-rich but cheaper, Agiliron is our suggestion, followed by Orderhive for ecommerce companies, especially.
Retail, ecommerce, multinational, dropshipping, warehouses, and manufacturers. This can be on a weekly, monthly, quarterly, or annual basis.
Based on these benchmarks, Zoho Inventoryis the best inventory management software for small businesses. Brigitte also has a background in writing, research, and publishing with an undergraduate degree in writing. Although there are four main types of inventory management systems, theyre not mutually exclusive. In essence, RFID inventory systems take barcode systems one step further. 
Working out the Cost of Goods Sold (COGS) using the periodic inventory system is very straightforward and looks like this: COGS = Beginning Inventory + Inventory Purchases Ending Inventory. The advantage of using a periodic inventory management system is that its very simple to implement and keep track of. Use inventory forecasting and reporting capabilities. 
Live chat or email, self-guided instructions, knowledgebase, easy-to-use interface. Or, download our free inventory management workbook to manage your inventory in a spreadsheet.