7 Min. Read

The Top 5 Choices for Inventory Tracking Software

July 13, 2021

Are you struggling to stay on top of inventory or need help with stock management? Using inventory tracking software can help!

There is a lot to do as a business owner, and managing your inventory levels can be one of the most important things. It can keep costs down and help gain a competitive edge over the competition. And using inventory tracking software can help do the work for you.

But with so many different options to choose from, how do you know which will work best? One inventory tracking solution might work better for you than another depending on your business type. No matter which one you choose, you can see improved inventory control and less reliance on the stock level you already have.

Here’s What We’ll Cover:

An Overview of Inventory Tracking Software

The Top 5 Choices for Inventory Tracking Software

Key Takeaways

An Overview of Inventory Tracking Software

If you sell a product or service, think about how and where you store them. Could you imagine having to manually keep track of everything? It would be incredibly time-consuming and wouldn’t allow you to focus on other areas of your business.

Using inventory tracking software does all of that for you, and then some. Inventory management tracks everything from the parts that make your product, the parts that build it and the product itself. This creates more efficiency and a more streamlined workflow for reduced inventory costs.

They keep track of inventory levels and allow you to restock at optimal times. And can also become integrated with different accounting or enterprise resource planning software. This gives the ability to maximize supply chain capabilities and identify opportunities.

Simply put, inventory tracking software makes every aspect of your business more efficient.

The Top 5 Choices for Inventory Tracking Software

Below you will find an overview of the top 5 inventory tracking choices for your business!

1. InventoryCloud by Wasp

Manual inventory management is a thing of the past with Wasp. The inventory control software helps maintain an accurate stock count and reduce errors. Warehouse efficiency will increase by removing the need to manually enter pick orders.

Real-time reports provide insight into areas like inventory levels organized by SKU. And they can also show details about transactions based on warehouse locations. If stock is running low you can receive a notification, which will avoid any stock outs or loss of sales.

Key features:

Stockroom management
Warehouse management
Consumables tracking
Lot and date code tracking
Manufacturing process management

The inventory software that Wasp provides can centralize the entire inventory process. Everything from ordering, picking and receiving becomes easier to control. Order requisitions become more accurate and the picking process becomes much more efficient.

Wasp would be a great choice for businesses that want ready-to-use inventory software.

2. Zoho Inventory

A cloud-based software, Zoho helps you manage everything from sales to purchases. You’re able to receive real-time inventory updates to monitor if levels are getting low. Seamlessly tracking your inventory will help with organizing SKUs, availability and overall pricing.

Your inventory levels will be automatically updated each time a sale is finalized. It can also be integrated with different sales channels like eBay, Amazon and Shopify. Your sales process will be more automated and allow you to manage everything from one place.

Key features:

Stock inventory reporting
Inventory level dashboard
Centralized inventory database
Low stock notifications
eCommerce and accounting integrations

Zoho also provides detailed reports with insights into different areas of your business. You can use this information to see how well products are selling as well as receive details about your customers. The real-time inventory reports will allow you to make more informed business decisions.

3. inFlow Inventory

The main purpose of inFlow Inventory is to help you reduce costs and increase profits. The cloud-based inventory management software focuses on staying on top of the most important areas of your business. And for added efficiency, inFlow can be integrated with a wide range of platforms like Shopify, Amazon and Zapier.

The inventory management software tracks your stock across all your locations. You’re able to create reminders and reorder points to let you stay ahead of any possible stockouts. The software also allows you to generate bills of materials for different products.

Key features:

Centralized inventory database
Product organization, pricing and costing
Stock tracking and reordering
Purchasing and receiving stock
Paying and managing vendors

inFlow also provides great order management capabilities. You can use it to approve limits for different purchase orders or reorder and receive stock. Plus, you can manage all your quotes and invoices and receive any payments online.

4. Fishbowl Warehouse

One of the best inventory software choices out there, Fishbowl is a great choice for any size of business. You’re able to track the inventory levels for both complete products or their individual parts.

This gives you the ability to track your storage, manufacturing and overall labor costs. Fishbowl also offers seamless integration with accounting software for easier tracking of processes. And shipping labels and general pick lists can get printed directly from the inventory system.

Key features:

Automatic reorder points
Seamless sales order to purchase order functionality
True cost calculations
Inventory and order management
Serial and lot tracking

The inventory software provides the ability to create multilevel work orders and bills of material. It also has a feature to print and scan barcodes, which will allow you to track items by lot number, serial number or different customer criteria.

5. NetSuite

It doesn’t matter if you’re a startup, small or midsize business or are growing at a rapid rate. NetSuite automates core processes and generates real-time reports with insights into your performance. Its capabilities include inventory and order management with real-time demand planning.

All your inventory needs will seamlessly be integrated with your finances. This will allow for more efficiency and less opportunity for errors to happen. The interface provides a view into every aspect of your business to increase overall operational flow.

Key features:

Real-time inventory visibility
Advanced inventory and order fulfillment
Complete procure-to-pay purchasing
One main system for all your needs

NetSuite helps to streamline your entire inventory and purchasing processes. It shows you key details when it comes to inventory control and supply chain management. This will save you time which can instead be used to convert leads into orders to grow revenue.

Key Takeaways

There are tons of different inventory tracking software choices out there and sometimes it can be difficult to figure out which is best. Depending on your business size, the product or service you sell and the industry you are in, the choice that you make could vary from someone else. Do you have a budget you need to stick to or are you looking for the best solution possible?

Each of the software apps outlined above are excellent choices when it comes to inventory tracking and stock management. They all offer core features that will make managing inventory as easy as possible. Still not sure which one would be best?

Think about exactly what your needs would be and then cross-reference them with some of the features outlined above. And if you’re still not quite sure, some of the options offer 14-day free trials to test out their capabilities. That way you can take the time to make sure you choose the right inventory solution for your business.

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