When you operate a product-heavy firm, it's easy to become overwhelmed. We can witness that a massive volume of data is exchanged daily between shipping, storage, audits, and recalls.
And if you're still running a wholesale, distribution, or manufacturing firm on paper and spreadsheets, we've got good news: there's a better way. Inventory management software has gone a long way in the last few years, And the truth is, it's now simpler than ever to keep track of what's going where and when.
Today, we've compiled a list of the top six inventory tools that will help you manage your products.
What Is the Purpose of Inventory Management Software?
A well-equipped inventory software package can assist you in the following ways:
- Linking all of your company's departments
- Providing you with a real-time report
- Improving your production operations through automation
- Making it easier to manage your vendors and third-party shipping firms
- Direct integration with your accounting software
1. NetSuite ERP
The first on the list is NetSuite ERP Inventory Management. This tool will provide you management over your inventory regardless of volume or location. It enables you to satisfy client expectations or fill work orders in your warehouse. You can track inventory in many areas and monitor cycle points, re-order counts
. Also, you can even track safety stocks using the built-in tools and capabilities. The solution, designed for fast-growing mid-sized and big enterprises, guarantees that you have enough inventory capacity to meet order needs at any moment.
2. Zoho Inventory
Zoho Inventory is an excellent inventory management software that streamlines business operations. It allows them to easily manage inventory, buy orders, sales orders, and shipments. And also, auto-populates itself whenever a buy, sale, invoicing, or billing occurs—this GST-compliant inventory management software stores business GSTIN.
Zoho Inventory is a feature-rich, AI-powered inventory management system with item-kitting capabilities tailored to any organization.
Monday.com is ranked third on our list. It is designed primarily as a collaborative tool. However, it includes features such as execution boards, knowledge bases, and communication choices. Further, with this fact, we can say that it is easily adaptable to various elements of your process.
For starters, it may serve as a project management system, a task tracking tool, or a team communication center and information repository. If you want to use the platform's features, the vendor offers inexpensive subscription options based on your specific needs.
If you run a business that does not include manufacturing or physical retail, TradeGecko can provide you with a simplified solution focused on just what you want.
Also, instead of focusing on POS systems or bills of materials, this tool will focus on multi-channel online brands. Wholesalers and distributors, to be exact. They automate your inventory management system, allowing you to keep track of everything you sell and manage inventory across different warehouses.
However, we can also say that it supplies chain management. As well as other warehouse and company activities, in addition to inventory management.
5. Fishbowl Manufacturing
Next on our list is Fishbowl Manufacturing. To begin, Fishbowl Manufacturing allows you to build sophisticated bills of material (BOMs). The platform also includes multi-level BOMs, which will enable you to track every inventory expenses item by item for each task you complete.
Furthermore, because Fishbowl's inventory software is designed to interface with QuickBooks accounting software. Also, it will enable you to quickly sync your inventory and accounting systems to keep track of these expenses.
Fishbowl Manufacturing also has multi-level work orders. This feature allows you to aggregate work orders across several production stages to build a unified production plan. However, each phase can be allocated to a different employee and include its own set of instructions and computations.
Square is the finest free point-of-sale (POS) system for small businesses. It also comes with a comprehensive set of inventory management features for an infinite number of items and users. It even has an eCommerce platform that we think is great for shops. Square is ideal for merchants who want to manage inventory for free and sell in-store, online, through invoicing, or mobile.
Overall, we suggest Square if you need an all-in-one solution (eCommerce, POS, and inventory) for your storefront business.
We hope this article helps you get a closer knowledge of how to manage your inventory. However, we highly recommend that you check them all. We assure you that there is something for everyone's desires. You will for sure find something that fits your needs.