When it comes to managing inventory, keeping count by hand is outdated — except when you’re performing an audit. Even small businesses can have hundreds of SKUs to manage, with hundreds to thousands of products to track.
Technology is the only way your team can maintain their sanity. But which solution should you choose? If you haven’t selected one yet, or are looking to switch, take a look at the inventory management software below. Two of the options handle basic inventory needs, while the other three offer more robust features.
5 inventory management software options
“The biggest perk of this solution is that it’s free,” says Arthur Ruth, vice president of operations at Memphis Maids. Google Sheets is a part of G Suite, a collection of apps created by Google for business productivity. Most teams have at least heard of G Suite, if they’re not already using it for other purposes.
Ruth says Sheets has all the features you need to handle inventory, especially if you run a small business and don’t have the capital to invest in a larger, more robust platform. “What I like about it, beyond the nonexistent sticker price, is that everything is backed up online and you can easily share and work on spreadsheets with other people.”
Also recommended by Ruth: Microsoft Excel. “It works well for basic inventory use, though it has a larger learning curve than Google Sheets. But if you’re already accustomed to Excel for other uses, you can easily get the hang of it for managing your inventory.”
Ruth explains that you can create different spreadsheets for different inventory management functions, whether it’s for tracking different product lines or different warehouses. Since many small businesses will already have Microsoft Office, he recommends Excel for those just starting out or still tracking inventory on paper.
Senior content writer Krishna Jani recommends the solution her company uses: Orderhive. This software as a service (SaaS) inventory management software handles the entire order cycle — procurement, bulk listing, selling, shipping, returns, analytics, and reports.
Focused on helping e-commerce companies around the globe, Orderhive helps automate and streamline the order workflow of over 5,000 businesses, including the likes of Ikea and Puma.
Jani calls out several key features of the solution:
- Real-time order and inventory syncing that helps maintain accuracy in stock counts, purchase orders, sales orders, returns, and shipments
- Automation of routine tasks for faster order processing
- More than 250 integrations, including Amazon FBA, eBay, Shopify, Magento, WooCommerce, FedEx, DHL, QuickBooks, and Xero
- Client support via chat, email, and phone 20 hours per day, six days per week
Jani also recommends TradeGecko, a cloud-based inventory and order management solution that gives small and medium-sized businesses the tools they need to compete. It helps businesses automate their workflows, gain global reach, and make data-driven decisions.
“One of the striking things about TradeGecko is its cool user interface,” says Jani. She notes the solution is easy to use and is packed with powerful features for conducting e-commerce business operations smoothly.
TradeGecko’s core capabilities, apps, and integrations provide businesses with the ability to easily automate and manage multichannel sales, multilocation inventory, manufacturing workflows, warehouse operations, reports, forecasts, payments, procurement, accounting ledgers, and fulfillment.
Last, Jani suggests Stitch Labs as useful inventory management software. The solution offers advanced capabilities in five key areas of a brand’s business: inventory management, order management, purchasing, fulfillment, and reporting and financials.
Stitch Labs helps businesses improve inventory control and gain visibility across retail and wholesale channels, systems, and fulfillment locations. For features, Jani says Stitch Labs
- Helps you sell flexibly on multiple channels
- Offers fast and reliable shipping to customers through advanced automation
- Enables you to merchandise creatively with bundles, preorders, and loyalty programs
- Automatically updates your sales channels as you buy, sell, add, or transfer inventory
Want the complete rundown on inventory management? Check out this complete guide we created on the subject.