Software
5 Best Inventory Management Software for Small Businesses
The inventory management software that a company uses should be able to assist them in tracking items or parts all the way through the supply chain, beginning with the manufacturer or wholesaler and continuing through the stages of assembly, storage, and sale. The software should also include tools that provide insights into the company’s performance as well as features that are specific to the business’s industry.
Get yourself acquainted with the inventory tracking requirements of your small company before making a decision on which software to purchase for it. For instance, small firms such as retail outlets often employ a more straightforward inventory management system, frequently one that is connected with point-of-sale (POS) software, while business-to-business (B2B) companies need a system with additional assembly or accounting facilities. Enterprise resource planning (ERP) systems, which are more robust, are necessary for companies of a certain size.
According to the findings of our research, the following inventory management programmes are the most effective for use in small businesses:
- Zolo Inventory is currently the most comprehensive and best inventory management software.
- Agiliron is the ideal platform for business-to-business (B2B) shopping.
- EZRentOut: Best for rental firms
- Lightspeed Retail is the most advantageous option for merchants.
- Orderhive is the e-commerce platform of choice for expanding businesses.
Zoho Inventory: Best Overall Inventory Management System
Zoho provides a wide range of services aimed at small companies, and it often appears on our lists of the best products on account of the excellent value it gives for the money. The tool that is being highlighted in this piece, Zoho Inventory, is an inventory management platform that enables you to handle numerous warehouses, e-commerce, and purchase orders all from an one location. The system offers sophisticated bundling and kitting capabilities for merging numerous stock-keeping units (SKUs), is adaptable to a wide variety of enterprises and use cases, and has an easy-to-use graphical user interface (GUI). It also offers capabilities for managing perishable things, such as monitoring for when items are about to expire and sending alarms when this occurs.
Zoho inventory is one of the most affordable inventory management solutions on our list, with the exception of Orderry and EZRentOut. In addition, Zoho inventory has a permanently free plan that is suitable for low-volume usage.
In our study, this programme received a score of 4.67 out of 5, which was the highest grade we awarded to any inventory management software that we investigated. The inventory elements of the warehouse management system obtained flawless grades, and the system also ranked first among software in terms of how easy it was to use. It came in at number two for price. Although it received a high grade for its features, you could discover additional industry-specific options in EZRentOut or Lightspeed, which are respectively more geared at rental businesses and shops. The total score suffered as a result of this and the short hours that customer assistance was available.
Zoho Inventory Pricing
- Free: up to 50 online orders per month, one warehouse, and two users
- The standard plan is $79 per month and includes 1,500 online orders, 2 warehouses, and three users.
- Pricing starts at $129 per month for the Professional plan, which includes 7,500 online orders, 5 warehouses, and 5 users.
- Premium service is available for $199 per month and includes 15,000 online orders, 7 warehouses, and 10 users.
- The premium plan is $299 per month and includes limitless orders, 15 warehouses, and 15 users.
Pros
- Handles multiple channels, warehouses, and currencies
- Mobile app available
- Can monitor expiration dates on batch orders
- Bundling, composite, and kitting tools
Cons
- Lacks return management
- Lacks rental function
- Limited POS integrations
Agiliron: Best for B2B Retail
Functions for ecommerce, social commerce, retail, and wholesale are all included in Agiliron’s multichannel management capabilities. This programme does an excellent job of ensuring that information is not compartmentalised, which enables you to locate what you want regardless of where you are. This system is distinguished from others because it provides extensive B2B and B2C inventory capabilities for the creation of bespoke orders. Additionally, it provides features for kitting, assembly, matrixed items, and product substitutes. This system is more difficult to use and more costly than Zoho or Orderry, but it still achieves a high ranking on our list due to the vast range of ecommerce applications it provides, which include wholesale, B2B, and B2C enterprises.
Upon completion of our inventory management software evaluation criteria, it was given an overall score of 4.38 out of 5. A perfect score was awarded to Agiliron for its performance on sophisticated inventory functions, matching that of Zoho Inventory. If the platform had a free plan and supported a greater number of users, it would have received a better rating. You will moreover want more elevated blueprints for several warehouses. Your best bet is to go with Zoho Inventory, which is a simpler and more affordable software option.
Agiliron Inventory Pricing
Each subscription includes limitless order capacity and email assistance around the clock.
- Premier membership is $99 per month and includes two sales channels and one user.
- Enterprise pricing starts at $199 a month for one user and includes two sales channels, multi-location tracking, a B2B shop, and comprehensive inventory management tools.
- Pricing starts at $299 a month for one person, with two sales channels, worldwide storefronts, and different currencies for the Global Enterprise plan.
Pros
- choices for B2B and B2C ecommerce stores
- Unlimited orders are included in all of our programmes.
- Compatible with the online shops of Amazon and eBay International capabilities
Cons
- Every plan comes with a maximum of one user.
- When it comes to learning how to utilise the platform, there is a steep learning curve.
- There are certain premium features that are integrations.
EZRentOut: Best for Rental Companies
Our list includes EZRentOut as a result of the fantastic features it offers that are tailored to meet the requirements of many types of rental businesses, including those who rent out sporting or construction equipment, DVDs and entertainment, or event space. Several of the inventory management programmes on our list, such as Orderry, keep tabs on services and repairs, but EZRentOut gives you the ability to record damage caused by tenants. Additionally, the GPS tracking capabilities that are included with the Premium subscription make it simple to monitor the whereabouts of your equipment at any given moment.
On our scale, EZRentOut received a score of 4.32 out of 5, which is an outstanding result considering how detailed it is. It received criticism for having a restricted number of connectors, the majority of which, similar to Orderry, are accomplished via Zapier; however, it does have an ecommerce shop for online rentals and sales. It provides B2B customer management capabilities, same as Agiliron does. Because of the significant differences in functionality between its most basic plan and its most advanced plan, it received a lower overall score as a result.
EZRentOut Inventory Pricing
- The standard plan is $49.98 a month for two users and includes unlimited orders, 30 custom fields, and an uncapped number of goods.
- Plus: $134.97 per month for three users, unlimited products, 30 user-defined fields, and more inventory and reporting capabilities
- Premium plan is $224.95 per user per month and includes unlimited orders, unlimited goods, 30 custom fields, and comprehensive reporting and inventory management tools.
Pros
- Support for both businesses and consumers.
- Purchasing and rental of GPS tracking devices for things depending on availability
- Unlimited orders are included with all of our programmes.
Cons
- Only higher-tier plans incorporate a purchase order in their offerings.
- Integrations are more limited in the smaller schemes.
- The standard plan comes with a fairly restricted set of features.+
Lightspeed Retail: Best for Retailers
Lightspeed Retail is a widely used point-of-sale (POS) system for retailers, and it is well-known for the inventory management services it offers. Lightspeed not only enables you to perform sales both online and in-store, but it also manages all of your inventory levels in real time across various locations and channels, enables you to run comprehensive reports, and interfaces with e-commerce businesses in a smooth manner.
Because Lightspeed is primarily concerned with the retail industry, when you explore the website, you will be given the option to select from a wide variety of distinct business categories, such as apparel, CBD stores, gift shops, home, and so on. Lightspeed will then demonstrate how its platform can be utilised in your particular retail sector.
Although Lightspeed is provided with a number of helpful features, which helped it gain a score of 4.23 out of 5, it does have a number of areas in which it falls short. Regrettably, Lightspeed does not come equipped with solutions for handling perishable items, such as those offered by Zoho or MarketMan. It is also possible that initially it may be difficult to use, which can be annoying when training new staff on your POS system. A lower grade was given to Lightspeed as a result of this, as well as its higher price point and the absence of a free alternative.
Lightspeed Inventory Pricing
- Streamlined: in-store application only costs $129 per month; integrated payments and one-on-one onboarding are included.
- The standard price for e-commerce and accounting connections is $189 per month.
- Premium: $289 a month, including a loyalty programme as well as comprehensive reporting tools
- Enterprise refers to individualised pricing and functionality for very big businesses.
Pros
- Maintains a fluid integration with point-of-sale systems both online and off.
- Unlimited quantities of inventory entries across all of our programmes.
- Reporting that is detailed at the level of the vendor, CRM, and inventory
Cons
- There is no free plan, and the prices are greater.
- The user interface is difficult to understand.
- Does not provide any capabilities for the management of perishable products
Orderhive: Best for Growing Ecommerce Companies
Orderhive is a reasonably affordable solution that is ideal for controlling inventory in ecommerce businesses. If you manage an online store or have an online dropshipping company, you should check out Orderhive. This e-commerce-optimized platform comes with robust inventory management and multi-warehouse capabilities, all at a very competitive price. In addition to this, Orderhive interfaces with a greater number of third-party apps than any other supplier on our list and has good returns management, which is an essential feature for online retailers.
The Orderhive cloud inventory received an excellent 4.22 out of 5 stars from our grading system. It received an almost perfect score for its inventory features as well as its simplicity of use, but it received a lower score in the price part due to the fact that it does not provide a free plan. If this is an important factor for you, you should look at Zoho.
Orderhive Inventory Pricing
- Essentials: $95 per month for up to two users and unlimited integrations across two categories, with 300 orders per month included.
- The standard plan is $195 per month and includes four users, 100 orders per month, and unlimited integrations across four categories.
- Enhanced: $295/month for 200 orders per month, 6 users, and unlimited integrations from 8 categories
- The Enhanced plan costs $295 per month and includes limitless integrations from a total of 8 categories, as well as 200 orders each month for 6 users.
*Each plan also includes the option to provide set-up help for an additional fee of $500. The Enterprise plan is $500 per month and includes an unlimited number of monthly orders, users, and integrations.
Pros
- Integrated centralised inventory across a number of different channels
- Features such as custom fields, duplication, and importing and exporting capabilities are included in the more advanced buy order choices.
- Automation of the workflow
Cons
- Mobile application with low ratings; available exclusively for Android
- Challenges with a few of the integrations
- Integrations are restricted for more compact layouts.
FAQ’s
Which software is best for inventory management?
What inventory system do small businesses use?
The InFlow Inventory software is a well-liked option for low-cost inventory management systems among small enterprises. The inventory and order management software are combined in InFlow, which makes tracking inventory more efficient. It is designed for retail companies who need to sell their products via several channels, such as Zoho Inventory, Veeqo, and Brightpearl.
Is Quickbooks good for inventory?
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