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Want to get right to the point? My top pick for the best inventory management software is definitely TradeGecko.
In 2011, Best Buy ran out of their most popular products, right around Black Friday and Christmas. Some people even claim they “stole Christmas.”
We don’t know how much revenue they lost (to Amazon) as a result. Plus, we can only imagine what kind of message that sent to their customers.
But we do know that mismanaged inventory holds most of the blame.
Thankfully there’s a cost-effective way for businesses of all sizes to avoid stealing Christmas.
However, the best inventory management software does more than track the number of items in your warehouse or storefront.
It helps predict future demands to keep your customers happy. It also helps you say goodbye to overstocking and under-stocking regardless of the season.
But choosing the best inventory management software for your business isn’t an easy task.
So, we looked at dozens of the best tools on the market and narrowed it down to seven. Then, we reviewed each one to give you a hand while making that critical decision for your business.
The Best Inventory Management Software Options to Consider:
- TradeGecko – Best inventory management for B2B and wholesale
- Primaseller – Most feature-rich inventory management software
- Finale Inventory – Best for multi-location businesses
- Ordoro – Best inventory management software for ecommerce
- Megaventory – Best for manufacturers and distributors
- Orderhive – Best inventory management for small businesses
- Zenventory – Best inventory software for unlimited users
When it Makes Sense to Invest Into Inventory Management Software
Businesses that currently track inventory using spreadsheets, pencil and paper, or other outdated methods can’t effectively monitor their inventory—especially at scale.
Every business with any type of physical inventory can benefit from an inventory management software. But if you’ve outgrown manual inventory management, it’s definitely time to upgrade.
The best inventory management software connects with POS systems to track sales across multiple channels to update your inventory in real-time. It syncs with accounting solutions, COGS reports, supply chain management, and more.
It’s impossible to effectively manage these components with a spreadsheet.
If you have a small startup that’s selling t-shirts out of your garage, then you probably won’t need an advanced inventory management software. But any business with an extensive inventory, multiple sales channels, and several locations must invest in a modern inventory management solution.
#1 – TradeGecko Review — Best Inventory Management Software For B2Bs and Wholesale
TradeGecko is an inventory management tool built specifically for wholesale businesses. It’s an all-in-one solution for managing products, payments, customers, and orders.
With TradeGecko, it’s easy to monitor all of your products as you sell, manufacture, and restock items across all of your locations, warehouses, and sales channels. You’ll even be able to manage orders from multiple sales channels for fulfillment.
TradeGecko integrates with platforms like Shopify, Amazon, WooCommerce, QuickBooks, Xero, and more.
Use the software to manage inventory lists and stock at each location. You’ll see details related to cost, stock history, product variants, and MAC (moving cost average). Benefit from barcode scanning, reorder reports, automated stock adjustments, bundles, product kitting, and pack sizes.
TradeGecko goes above and beyond inventory management for B2Bs. You can use the software to create and manage your own wholesale ecommerce platform as well. This is great for wholesalers who are ready to start selling online or make the switch from their current ecommerce platform.
Here’s an overview of the TradeGecko plans and pricing:
- Founder — $39 per month
- Lite — $79 per month
- Small Business — $199 per month
- Business — $599 per month
- Premium — $799 per month
- Pro — Custom enterprise rates
All plans come with the TradeGecko B2B ecommerce platform. Pricing is based on users, sales channels, number of warehouses, and orders per month. The Founder plan only supports 10 sales orders per month, so most of you will likely start at the Lite or Small Business plan.
TradeGecko offers free onboarding and free 24/7 tech support. Try it free for 14 days.
#2 – Primaseller Review — Most Extensive Features
Primaseller is another one of the best inventory management software options on the market today. It’s versatile enough to accommodate the needs of a wide range of business types and sizes.
The software is perfect for online sellers that leverage multiple sales channels, B2B organizations, and even retailers with physical storefronts for point-of-sale.
Compared to other inventory management solutions, Primaseller has the most extensive feature lists that you’ll find on the market today. You’ll benefit from features like:
- Multi-location inventory management
- Bin locations
- Automated purchase orders and transfers based on stock levels
- 3PL and FBA inventory management
- Online sales channel integrations for with real-time inventory updates
- Catalog management
- Dynamic order allocation for multiple locations
- Customer grouping and custom price lists
- POS integrations for multiple storefronts
- GDPR compliance
The software easily integrates with platforms like QuickBooks, Square, Stripe, Amazon, eBay, Shopify, BigCommerce, Etsy, and more. You can even integrate Primaseller with shipping companies like USPS, FedEx, UPS, DHL, and plenty of others.
Pricing for Primaseller starts at $100 per month. But you’ll pay extra to customize your plan based on things like additional warehouses, POS locations, storage locations, and B2B features.
It’s easy to get started, and you can try Primaseller free for 14 days.
#3 – Finale Inventory Review — Best Inventory Management Software For Multi-Location Businesses
Finale Inventory is an excellent choice for fast-growing businesses. All the plans in this cloud-based software support multi-location organizations. Other providers on the market typically make you upgrade to a higher tier to get that functionality.
The software has 40+ multi-channel integrations with platforms like Shopify, eBay, Amazon, WooCommerce, Magento, and other online marketplaces. Finale also has an open API that can integrate with any third-party software.
Finale Inventory has tools and features for inventory management, order management, purchasing and replenishment, product landed costs, lot ID tracking, serial number tracking, barcode label printing, stock transfers, and more.
You’ll also benefit from powerful insights, custom dashboards, and detailed reports to make crucial decisions.
Here’s a quick overview of the Finale Inventory plans and pricing:
- Bronze — $99 per month
- Silver — $275 per month
- Gold — $449 per month
- Platinum — $649 per month
As previously mentioned, all of the plans support multi-location businesses. Pricing is largely based on the number of users and monthly order volume. For example, the Bronze plan supports two users and 1,000 orders per month, while the Platinum plan supports 12 users and up 20,000 orders per month.
Any business in need of a multi-location inventory management solution can benefit from Finale Inventory. Try it free for 14 days.
#4 – Ordoro Review — Best Inventory Management Software For Ecommerce Websites
Ordoro is an inventory management solution built specifically for ecommerce businesses. It’s a one-stop-shop for all of your shipping and inventory needs.
The software makes it easy for you to integrate all of your online sales channels, manage purchase orders, assign barcodes to SKUs, and automatically update quantities when orders are fulfilled.
Ordoro is an excellent choice for ecommerce sites using dropshipping. You can automatically or manually manage all dropship requests to vendors. Ordoro even has a vendor portal that allows suppliers to fulfill orders directly within the platform.
The software is equipped to handle inventory updates for returns RMAs (returned merchandise authorization) as well.
Pricing for Ordoro is simple and straightforward.
- Express — Starts at $59 per month
- Pro — $Starts at $499 per month
There’s also an enterprise-level plan for high-volume ecommerce sites and custom pricing.
If you’re an online retailer, Ordoro should be a top consideration for your business. To get started, schedule a free demo.
#5 – Megaventory Review — The Best Inventory Management Software For Manufacturers and Distributors
Megaventory is an inventory management and order fulfillment solution for manufacturing businesses and distributors. The software is a popular choice for franchise networks and wholesale distributors as well.
It’s easy to use, quick to implement and leverages cloud-based technology so you can access it from anywhere.
Some of the top inventory management features of Megaventory include:
- Multi-location support for warehouses and stores
- Stock alerts
- Location transfers
- Product cost tracking
- Inventory tracking
- Supplier availability and lead times
- Landed cost calculations
The software also has tons of tools and benefits for order fulfillment and manufacturer tracking. Sales orders, quotes, dropshipping, consignment, partial shipping, bill of materials, labor costs, and work orders are just a few of the dozens of highlights.
Megaventory is highly customizable. It offers advanced reports and data administration as well.
For such a feature-rich software, Megaventory is extremely affordable. Plans start at just $135 per month. The entry-level plan supports five users, 50,000 transactions, 20 locations, 20,000 products, and 20,000 clients.
Try Megaventory free for 15 days.
#6 – Orderhive Review — Best Inventory Management Software For Small Businesses
More than 5,500 ecommerce businesses worldwide trust Orderhive for inventory management solutions. It’s a popular choice for startups and smaller companies, although they do boast some impressive enterprise clients, like Puma and Ikea.
Orderhive stands out from other platforms due to its robust automation features. It’s easy to automate daily tasks based on custom triggers and actions related to inventory management.
Some of the top inventory management features and benefits from Orderhive include:
- Multi-channel inventory sync
- Multi-warehouse management
- Amazon FBA and 3PL warehouse management
- Location-based stock
- COGS management
- Bundles and kitting
- Product barcodes
- Barcode printing
- Stock transfers and adjustments
- Product tagging
Orderhive also has a wide range of tools for order management, shipping, management, purchase management, returns, integrations, and more.
Shopify users can use Orderhive free forever and get all of the basic inventory, shipping, and order management features offered by the software provider.
Here’s a closer look at all of the plans from Orderhive:
- Free — $0
- Lite — $44.99 per month
- Starter — $134.99 per month
- Growth — $269.99 per month
- Enterprise — Custom pricing
Orderhive does charge $99 for onboarding and set-up assistance, which other platforms offer for free. But you’ll have access to free tech support 20 hours per day, 7 days per week. Try any paid Orderhive plan free for 15 days.
#7 – Zenventory Review — The Best For Unlimited Users
Zenventory’s inventory management system is designed for ecommerce websites, retailers, 3PLs, and small businesses.
While most inventory management solutions limit the number of users who have access to the system, all Zenventory plans offer unlimited user access—for free.
In addition to software, Zenventory has inventory scanners and other hardware required to efficiently manage your operation. They also have an exceptional mobile app that allows businesses to manage inventory and orders from anywhere.
Zenventory is multi-channel sales ready, and has an extensive list of robust features.
- Cycle counting
- Purchase order processing
- Vendor management
- Direct integrations
- Dynamic or fixed warehouse slotting
- Open API
- Custom alerts via email and text
- Serial number tracking and expiration dates
- Pick and pack verification for fulfillment
Whether you have a single warehouse or dozens of warehouses, Zenventory has a plan to accommodate your needs.
- Lite — $99 per month
- Standard — $199 per month
- Pro — $299 per month
For scaling teams that don’t want to be restricted by per-user based plans, check out Zenventory. Unfortunately, they don’t offer a completely free trial like other platforms, but you can still schedule a free demo.
Methodology For Choosing The Best Inventory Management Software
When it comes to something so essential, like inventory, choosing the right software to accommodate your needs is an important decision. We want to make this process as easy as possible for you, which is why we’ve identified the top elements that you should look for as you’re shopping around.
Take these features into consideration as you’re browsing and testing different inventory management solutions.
Where is your inventory available for sale? Businesses selling in a single retail storefront won’t have the same needs as a global ecommerce site with multiple warehouses.
Are you selling in-person and online? Do you sell through your website and online marketplaces? Maybe a combination of these?
Make sure the software you’re using supports the sales channels you’re currently using. Look for integrations with the platforms you’re already using as well. From POS solutions to ecommerce platforms like Shopify, there’s a lot to consider here.
While lots of inventory management software can be versatile, some are made for specific business models and industries.
For example, B2Bs and wholesalers shouldn’t be using the same software as a D2C retailer. There are even specific solutions for manufacturers and distributors.
How exactly will your inventory be managed?
Things like barcode printers and scanners are common components of inventory management. Find out if you need to get those pieces of equipment on your own or if you can get them directly from the software provider.
Inventory management software is designed to make your life easier. That’s why it’s important to look for as many automated features as possible.
For example, if you’re low on inventory, some software will automatically reorder more based on the settings you’ve customized. It’s also great when the software automatically updates your inventory based on fulfillments and purchase orders.
It’s rare to see a platform marketed solely for inventory management. There are other common solutions bundled into these platforms. Look for things like order management, shipping tools, supply chain management, purchase management, vendor portals, and more.
Don’t be swayed by an extensive feature list if you won’t actually take advantage of those additional tools. You can save some money by choosing a plan that best fits your needs.
What’s the best inventory management software?
We recommend TradeGecko for many companies.
With that said, there are plenty of other great options to consider. Use this guide, the recommendations, and our methodology described above to find the best inventory management system for your business.