E Commerce Inventory Management Software

Inventory management is a crucial component of any e commerce company. Without it, you could lose sales, waste money on unnecessary products and services, or fall behind your competitors. An inventory management system can help you avoid all these problems by providing a clear picture of what goods are in stock at any given time and where they are located within the store or warehouse.

In this guide, we review the aspects of E Commerce Inventory Management Software, best inventory management software for ecommerce, inventory receiving software, and inventory management system.

E Commerce Inventory Management Software

If you’ve got a company that sells products online, then you know that inventory management is one of the most important aspects of running an ecommerce business. In fact, it’s so important that you should use an inventory management software package with multiple components to make sure it’s done right.

The E-Commerce Inventory Management Software You Need

Inventory management software is a must-have for e-commerce companies. The right inventory management software can help you save time and money, grow your company and ensure that it prospers.

There are many different types of inventory management software available, including cloud-based solutions that don’t require any installation or on-premises solutions which are hosted on your own hardware. Both types have their advantages, but when it comes down to it, the best option may be a combination of both.

Inventory Management Software Batch Control

Batch Control is the most important part of any inventory management software. If you have never used batch control, the first step is to understand what it is and why it’s so important.

Batch Control allows you to set up rules for how much product should be shipped at a time, what products go together in each shipment, which customers get which shipments first, etc. For example: You might want to ship all orders from New York before shipping anything from California or Texas (because shipping costs are higher from those states), or you might want every order that comes in on Tuesday shipped out on Tuesday (to avoid delays). These are just examples; there are many other features of batch control that can help improve your business’ productivity and efficiency!

Inventory Management Software Product Labeling

Product labeling is one of the most important parts of inventory management. It’s also a good idea to use labels for shipping, retail and wholesale purposes.

  • Importance of Product Labeling

• Product labeling helps you organize your products. After all, it’s hard to keep track of items that don’t have labels on them!

• Labels also make it easy for customers to find what they want when shopping online or at stores with physical locations. With this in mind, there are many advantages:

• Customers are able to scan barcodes using their phones or computers instead of manually typing each item into a search engine (which takes time). This means they can get through checkout faster than ever before!

Warehouse and Retail Management Software

Warehouse and retail management software is a good option for ecommerce companies with multiple warehouses. Warehouse and retail management software helps you track inventory, manage orders, and streamline the supply chain. The right warehouse management software can help you reduce costs by streamlining processes such as receiving, fulfillment and shipping while also improving accuracy of inventory tracking.

Inventory management software with multiple components can help an e commerce company grow and prosper.

As an e commerce company, you will have to manage multiple aspects of your business. You have to set up your warehouse, retail space and even the way in which you handle products. This can be difficult for small businesses that do not have the in-house resources or time to do it themselves. That is where inventory management software comes into play. Inventory management software will help you track and manage your inventory for both online and offline stores as well as help you manage warehouse space, product labeling and batch control.

It is important that companies looking into using these types of programs understand how they work so they can get the most out of their investment.

best inventory management software for ecommerce

Data as of 12/14/22. Offers and availability may vary by location and are subject to change.*Sales price: 50% off for the first 3 months. Must be paired with QuickBooks Online Essentials.

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure.

If you sell your products exclusively online, your inventory needs may look a little different than your average brick-and-mortar business since you’re looking for an ecommerce solution. We’ve scoured the web to find the top ecommerce management software solutions that cater to the unique order fulfillment and shipping needs of ecommerce stores.

Our top choice is Ordoro but we found four other platforms that are great choices too. Here’s what we came up with.

Best ecommerce inventory management software

Best ecommerce management software options at a glance

For this article, we tried to narrow down the options by focusing on a few key features that ecommerce retailers would likely need. Specifically, we looked for inventory management software that allows you to sell on multiple online channels, supports dropshipping and Fulfillment By Amazon (FBA), and provides flexible shipping options.

Comparing the best ecommerce inventory platforms

Data as of 12/14/22. Offers and availability may vary by location and are subject to change.*Sales price: 50% off for the first 3 months. Must be paired with QuickBooks Online Essentials.

Ordoro: Best ecommerce inventory software

Data as of 12/14/22. Offers and availability may vary by location and are subject to change.

Ordoro is our top inventory management pick for ecommerce businesses because it can be customized to fit virtually any selling strategy.

For starters, the platform allows for multichannel selling so you can manage product listings for your Instagram, Facebook, Amazon, and Shopify channels (to name a few) in one convenient dashboard. You can even pick and choose which channels you want to update, giving you the ability to completely customize and brand each of your online stores.

Where Ordoro really shines, though, is in its niche selling features. When you connect Ordoro to your ecommerce platform and online store, you get the ability to limit the number of in-stock items your customers can see. This creates an illusion of scarcity that can drive your sales even higher. Ordoro also lets you strategically oversell your products, allowing you to continue taking in revenue—even while you’re waiting for inventory to come in.

Zoho Inventory: Most affordable software option

Data as of 12/14/22. Offers and availability may vary by location and are subject to change.

Zoho Inventory is a great, easy-to-use inventory management software that organizes your inventory, keeps track of purchase orders, and invoices customers for you. It integrates into your business so you can focus on customer relationships and finding new products. With organized analytics and reports, you can see what’s flying off the shelves and make sure it’s in stock online.

The big downside with Zoho is that it limits the number of orders and shipping labels you can produce each month. It caps online and offline orders—as well as shipping labels— at 25,000 per month. This isn’t ideal for larger businesses that are dealing with a higher volume of orders per month. However, Zoho works best as an option for growing businesses to organize their products and jump into the ecommerce world.

With barcoding options and easy ways to organize products, Zoho Inventory keeps your stock accessible while helping you send it around the world. Ecommerce platform integrations with Amazon Marketplace, Shopify, and others enable you to sell everywhere.

QuickBooks Commerce: Best for online wholesale

Data as of 12/14/22. Offers and availability may vary by location and are subject to change.*Sales price: 50% off for the first 3 months. Must be paired with QuickBooks Online Essentials.

QuickBooks Commerce came from TradeGecko, a program we’ve liked in the past, after it joined Intuit, which owns QuickBooks. And it’s still a great, affordable inventory management platform for just about any business. But where it really shines is in its tools for wholesalers.

For starters, QuickBooks Commerce integrates with ecommerce platforms, stores, and multiple marketplaces to help you sell your goods. It helps you manage inventory and orders for all of your sales channels through multichannel tracking—the software will let you know which orders came from B2B, B2C, and ecommerce.

One downside, though, is QuickBooks Commerce does have limitations on monthly sales order volume as well as SKU lists. So if you have a lot of inventory, you may not be able to store it all through QuickBooks. However, the limit is 30,000 orders and 20,000 SKUs, and most businesses are not reaching those heights early on.

QuickBooks Commerce is great for both new businesses and established ecommerce brands because of its price points and its features. It offers a lot at relatively low costs and integrates with QuickBooks to make your accounting easier down the road. Overall, the program is super helpful and one of the best out there for online wholesale and product management.

Cin7: Best for growing your business

Data as of 12/14/22. Offers and availability may vary by location and are subject to change.

From purchase orders to actual products and sales, Cin7 helps you work with clients and vendors to maintain good relationships and build your business. Multichannel tracking allows you to track services and goods bought and sold across warehouses and locations while shipping integrations make sure products get delivered on time. You can easily connect to ecommerce marketplaces and online sellers, bringing your inventory to wider audiences.

With a $299 per month starting price, Cin7 is not the most affordable option. However, it immediately brings in automations, multiple users, 24/7 support, and core inventory modules that will help you grow your business. We score it very highly because of what it offers business owners.

Going with Cin7 ensures that your business can keep going up. With third-party logistics and warehouse management, along with multiple B2B stores and automation workflows, Cin7 does the work for you so you can focus on sourcing the right products and helping customers find their next purchase.

Shopify: Best for easy online shopping

Data as of 12/14/22. Offers and availability may vary by location and are subject to change.

Working with Shopify’s order management program brings the ecommerce website to your business. As a small-business owner selling online, you always want to be sure that web store and ecommerce inventory is organized and easily accessible. Since Shopify is a web store first and inventory management program second, you can be sure that this program is designed for your ecommerce business.

Although it doesn’t include all the features we would want in an inventory management solution—like organizing vendor management and client relationships—it’s the perfect software for an ecommerce business. The price is good and comes with an online store while allowing you to expand to brick-and-mortar retail locations, pop-ups, and warehouses as your business grows.

Working with Shopify, you can accept payment and ship products directly from this software with a third-party integration. Essentially it works as shopping cart software: building off of your Shopify store, this inventory management tool keeps you organized behind the scenes.

inventory receiving software

In many businesses, including manufacturing and retail, keeping an accurate count of your inventory is critical to maintaining a healthy bottom line. Very small businesses might manage inventory in a Microsoft Excel spreadsheet, manually entering data as transactions occur and new orders come in. However, as a business grows, this process becomes unwieldy and fraught with error. When scaling up, inventory management software can improve your ability to track your stock levels and ensure you are replenishing goods as needed so you never run out or have too much on hand.

Compare Our Best Picks

Pricing for Inventory Management Software

Typically, inventory management software, on average, costs approximately $100 per month, though lower-cost solutions are available. The most expensive software can cost up to $3,000 per month or might come with a one-time licensing fee of a few thousand dollars.

The key factors that determine cost are the size of your business, the volume of your inventory, the number of orders you receive, and the number of locations you need a system to cover.

Key takeaway: Inventory management software ranges from $100 per month to $3,000 per month, or there can a one-time licensing fee of a few thousand dollars. Important factors include the size of your business, the amount of orders you receive and the number of locations you operate.

Our Reviews

Finale: Featured Sponsor

Finale Inventory is a cloud-hosted inventory management system designed for high-volume, multichannel e-commerce and warehouse management uses. The software offers a centralized inventory solution that lets businesses get an accurate stock count for their products, including those stored in multiple warehouses.

The system includes order-management capabilities, wireless barcode scanning, barcode label generating, inventory accounting capabilities, and an analytics dashboard that lets companies easily keep tabs on their inventory. Finale Inventory integrates with more than 40 programs, including online shopping platforms like Amazon, eBay, Etsy, and Shopify, as well as accounting software like QuickBooks. Plans start at $99/mo, and customers can register for a free 14-day trial to evaluate the software.

Lightspeed: Best Low-Cost Inventory Management Software

Lightspeed starts at $69 per month, making it one of the most affordable inventory management systems we reviewed. The top pricing tier remains competitively priced at $229 per month. Lightspeed is a suitable option for small businesses with a wide range of products, supporting a catalog of custom product variations by size, color, material and more. Lightspeed supports serial tracking across multiple locations. It includes order-management tools that make it easy to reorder stock from suppliers. You can set custom reorder points so that when your stock falls below your set threshold, the software automatically generates new purchase orders. The system also gives you control over pricing, allowing you to set rates and offer discounts or promotions.

May 2021: Lightspeed and Google recently announced a partnership intended to help small and midsize businesses reopen and recover after the COVID-19 pandemic. Brick-and-mortar retail businesses, in particular, have suffered, so Lightspeed and Google are offering tools like Google Local Inventory Ads, Google Smart Shopping Campaigns, and Google My Business at no cost through the Lightspeed platform.

The announcement comes on the heels of Lightspeed’s $350 million acquisition of retail management company Vend – another clear signal that Lightspeed aims to deepen its foothold in the retail space.

QuickBooks Commerce: Best Inventory Management Software for Ease of Use

Formerly TradeGecko, QuickBooks Commerce retains the easy-to-use interface of the legacy system. QuickBooks Commerce is another low-cost solution; prices range from $70 to $150 per month, depending on which tier of service you select. QuickBooks Commerce is especially useful for online sellers, integrating with all major e-commerce platforms: Shopify, Amazon, eBay, Etsy and WooCommerce. As you would expect, it seamlessly connects with QuickBooks accounting software. QuickBooks Commerce supports inventory tracking across multiple locations and sales channels. Overall, it is a simple but effective inventory management solution for small businesses.

QuickBooks now integrates with Pogi by SimplyRFID. The software platform stores data related to RFID tag scans, which provides insight into where inventory is and where it has been. RFID tags are particularly useful for mid-sized and large businesses that have multiple facilities or complex supply chains, such as manufacturers that rely on tracking raw materials coming in and finished goods going out. This integration offers QuickBooks inventory management users an easy way to import critical data about inventory whereabouts and the status of key deliveries.

Cin7: Best Overall Inventory Management Software

Cin7’s cloud-based inventory management software can be integrated with other modules, including point-of-sale software, a warehouse management tool and an e-commerce platform. Starting at $299 per month, it is a competitively priced platform that can scale alongside your business as it grows, preventing the need to migrate to a new system when adding locations or storage facilities. Cin7 offers a variety of tracking methods, including barcode; batch; first-in, first-out; and serial tracking. Cin7 includes robust reporting tools that provide insight not only about your inventory, but also relevant data from other integrated systems, such as your accounting software.

Fishbowl: Best Inventory Management Software for Integrations

Fishbowl inventory management software offers a great solution for small businesses (retail, manufacturing and warehouses) using third-party software like QuickBooks, Salesforce and Shopify. Fishbowl charges a one-time licensing fee of $4,395 rather than a monthly subscription rate. It features lot and serial tracking, as well as options to track items by expiration date, if you stock perishable goods. The platform can be integrated with scanning hardware to enable barcoding of products. It is a good choice for small and scaling businesses that need room to grow with their software.

Fishbowl recently released an online version of its inventory management software, extending a true SaaS solution to its customers. According to the company, the online version of the software includes:

Our review does not include information about Fishbowl Online, but will be updated during the next full update of our inventory management software category.

Additionally, Fishbowl was acquired in December by Diversis Capital Management LP, a private equity firm based in LA. It is unclear how, if at all, the acquisition may affect Fishbowl’s customer service, product support, and software development.

Diversis Capital Management bills itself as “a software and technology focused private equity fund that invests in lower middle-market companies, targeting situations where it can add unique value in helping a company reach the next level.”

Any changes to the company’s customer-facing products and services will be considered in our next full review.

Oracle NetSuite: Best Inventory Management Software for Warehouse Management

Oracle NetSuite is a comprehensive enterprise resource planning system that includes inventory-management features necessary for businesses with multiple locations and warehouses, as well as those selling on multiple channels. Oracle NetSuite is best for large businesses in need of a powerful inventory management system. Though there is a learning curve, NetSuite offers a panoramic view of inventory if your company has multiple locations, and, through its integrations with other modules like point-of-sale (POS) and accounting software, keeps you informed of each aspect of your company. Oracle NetSuite includes batch, serial, lot, and bin tracking so you always know where each item is located in your stores, warehouse, or other facilities. It includes automatic prompts for cycle counts and inventory catalogs that ensure your data is accurate and up to date.

Oracle NetSuite recently announced a native integration with Thomson Reuters ONESOURCE, a powerful tax software that enables domestic and international tax preparation. The tool is available to small businesses and multinational enterprises alike and will run in conjunction with Oracle Netsuite to support user’s tax needs in 56,000 tax jurisdictions worldwide.

Oracle NetSuite’s 2021 Release 1 includes several new features intended to address supply challenges in the wake of the coronavirus pandemic. These features include centralized purchasing and billing for organizations running multiple businesses (such as subsidiaries), budget management alerts and analysis, automated import/export of updated banking and credit card info, and mobile approvements of reports and payments. The release also includes several useful tools specifically for warehouse management, including tally scans, label printing, and cart put-away.

Oracle NetSuite also launched SuiteBanking in Q4 2021, enabling more extensive reporting and real-time insight into accounts payables and receivables, expense management, international payments, built-in working capital loans and accounts receivable financing. This can integrate with NetSuite’s inventory management tools to provide businesses with greater insight into their supply chain by monitoring expenses and the return on investment from purchased raw materials and goods.

What Is Inventory Management Software?

Inventory management software helps businesses monitor their stock in their stores and storage facilities, keeping track of where products are physically located, when they sell, and when more quantities need to be ordered. This software ensures that your stock of goods is updated in real time, and it can automatically import and export key data to and from other systems, like POS software or accounting software.

This type of software eliminates the double entry of data in spreadsheets and accounting software. It streamlines tracking the location of your products and raw materials, plus it helps you implement an order-management plan so you never have too much or too little of a particular item in stock. Inventory management software also offers detailed reporting so you can regularly review and analyze your business’s inventory across multiple locations.

The best software hinges on the type and size of the business. For example, a single location retail business requires a less complex software application than a manufacturer that needs to track raw materials and finished products. As a business grows to multiple locations, a more comprehensive inventory management software is needed.

Inventory management software should supplement a thorough manual process. Your staff should be properly trained on how to scan items so the system is up to date. To learn more about how to implement an inventory management plan, read our article on effective inventory management strategies all businesses should employ.

Key takeaway: Inventory management software helps businesses monitor their products and raw materials. It also implements order-management protocols so you always have an optimal amount of stock on hand.

inventory management system

If you’re a fast-growing e-commerce brand looking for a flexible central system to automate multi-channel inventory and orders, and gain insight on your business performance, Brightpearl may be the right solution for you.

As the industry-leading Retail Operating System, Brightpearl is designed to automate all the time-consuming yet critical post-purcha+se operations including inventory management, order management, warehousing, fulfillment, shipping, purchasing, accounting, retail BI and more. Brightpearl will help you save time, make data-driven decisions, so you can achieve your growth goals. Here’s how…

1. Easy automation

With our coding-free, smart Automation Engine, you can automate laborious tasks across all your sales channels and inventory locations with just a few clicks, from complex order fulfillment and multiple warehouses to shipping and accounting. This means you can process more orders without extra staff and eliminate costly human errors. In fact, on average, Brightpearl customers save two months a year compared to manual processes.

2. Smart demand forecasting and inventory planning

Accurately forecast demand based on your sales history and seasonality. And get data-driven replenishment recommendations to meet demand. No more overselling that leads to unhappy customers or under-stocking that causes lost revenue.

3. Plug & play integrations

Connect to leading e-commerce platforms, marketplaces and lots of accounting, shipping and 3PL options. Between these connectors and the fast, open API you can be up and running in minutes meaning you’ll never have to wait months or even years for a custom integration again.

4. End-to-end services

We go above and beyond a software provider for our customers. Our retail back office experts will be at your side every step of the way from implementation and onboarding training to ongoing consulting and 24/7 support. It means you can focus on your plan for growth, instead of wasting time fixing clunky workflows.

Want to find out more…?

About how Brightpearl can benefit your business? Get a customized, free demo now!

What different types of Inventory Management System are there?

Brightpearl not the right solution for you at the moment?

No problem, you also have other types of systems on the market to help you manage inventory based on your current needs. Here are the major types of inventory management systems or alternatives.

Many new or small retailers start with manual, low-tech solutions. In short, they keep track of inventory with a pen and paper. Each sale and delivery get recorded in a ledger as it happens, to keep records up to date.

The business owner then needs only to check the written record as and when required. For instance, they may wish to work out if and when to raise a purchase order with suppliers. The main strengths of this type of system are that it’s simple and inexpensive. Human error, on the other hand, is a significant weakness, as is the system’s time-consuming nature.

Many businesses have moved away from manual stock-taking. There are plenty, however, who haven’t yet embraced the dedicated software solution that is an inventory management system. The system which these individuals use involves tracking stock and more via spreadsheet.

A program like Excel can be excellent for managing inventory at a basic level. A professional with a good affinity with spreadsheets can create a decent system. Stock, value, sales figures, and more can all get tracked on one straightforward document. Modern file-sharing tools, too, can form a part of these systems. They mean that anyone in an organization that needs to can access the relevant document.

The issue of human error is still a significant downside of spreadsheet-based systems. Enter incorrect figures at any stage, and the mistake can snowball. What’s more, spreadsheets can’t account for the complexity of many businesses. Plenty of firms have multiple sales channels or warehouses. In those cases, an Excel document will swiftly get complex and unwieldy.

In other words, relying on an inventory management system through an Excel spreadsheet (or set of spreadsheets) isn’t generally worth it in the long run. That’s especially true for businesses looking for a scalable solution.

Standalone inventory systems often offer long lists of features for a low cost. Tempting right?

Sadly once retailers dig a little deeper or worse start using these systems, they find that the quality of these features is lacking leading to a system that can only cope with low order numbers stifling your potential growth.

Reporting is key to providing data-driven decisions allowing you to focus on the most important products & channels for your business, driving growth. Sadly retailers find insights from these standalone systems lacking meaning they sometimes have to resort to using Excel.

Standalone systems often struggle with automating more complex orders like multi-location & dropshipping. These are also the most time-consuming to action manually, meaning you’re not saving the time that you would have expected which could have been spent focusing on growing your business.

Another key downside of most standalone systems is self-guided implementation. Having decided to invest in an inventory management system, you want to make sure that you’re getting value for money and using the system to its full potential. Sadly with cryptic online documentation and limited support, retailers often find that their operations are no more streamlined than if they were using spreadsheets or worse end up with disconnected systems impacting on their customers.

ERPs (Enterprise Resource Planning) have the advantage over standalone systems in being complete, integrated systems that can typically handle the majority of processes across marketing, human resources, operations, finance and Engineering.

However this one size fits all approach may mean that an ERP isn’t the best choice for your business.

None of these quite what you’re after?

Try Brightpearl, the Retail Operating System

What you need to check when choosing an Inventory Management System

The aim of your inventory management system is to help you keep track of your stock in the most seamless, efficient way. That’s why you’ve got to make sure any prospective system has all the features you need to manage your inventory, but what are those?

We’re going to be breaking down all the elements of an excellent inventory management system, so you can cross-reference them with any system you’re considering.

From easily scannable inventory summaries (like the one pictured below in Brightpearl) to top-class customer support, some features and functionalities simply set some inventory management systems apart from the competition. With that said, let’s explore the items you need to check when you’re trying to determine whether a given system is the one for you.

The best system in the world can’t do much for you if it’s complicated and difficult to implement.

In other words, you’ve got to make sure that implementation will be three things: Simple, quick, and seamless. Let’s take a closer look at all three of these essential qualities.

First, there’s simplicity. Ideally, a new system should have a simple enough setup process that anyone with basic tech-based skills can complete it.

As for speed, it’s important that your system can be implemented within a reasonable time frame. In some instances, that might mean a few days at most; in others, it means taking no more than a few hours.

Perhaps most importantly, implementation needs to be seamless. If your prospective inventory management system doesn’t work in harmony with any other software (or hardware!) that you’re already using, it’s only going to create more problems and complications further down the line.

Picture this: You’ve run into a problem with your chosen solution, and you need to get in touch with the provider’s customer support team. When you try to call them, you’re put into a long queue and given no idea of how much time you’ll need to spend waiting. When you send an email, you get no response. There’s no live chat option.

If that idea frustrates you, you’re not alone. And to make matters worse, companies that make customers feel this way have a bad habit of ignoring their complaints online.

You don’t want to become part of that statistic. At minimum, you’ll want to have a few different ways to get in touch with the customer support team in question.

It’s always a good idea to ensure that when you do contact customer support, the agents are well-trained, knowledgeable, and friendly, too.

The right inventory tracking solution for your firm depends on your industry, target audience, and many more factors besides.

There are some key features of inventory management system software, though, to look out for. The following is a brief rundown of some of the most useful:

1. Automation

There’s a good reason why the market for automation (and the AI associated with it) is rising so rapidly —it makes your work life both easier and more efficient.

When you automate inventory management tasks, workflows, and processes, you’re taking repetitive or time-consuming work out of the hands of employees. This frees up employees’ schedules, ensuring they can be more productive in less time.

2. Barcode scanning

Knowing your stock levels and where items are is fundamental to inventory management. The top software solutions integrate seamlessly with barcode scanners in your warehouse. That way, the real situation on the ground is also what your inventory management system with barcode scanners reflects.

3. Real-time inventory updating

Changes to stock levels and movement of inventory gets updated in real-time. As soon as an order gets placed or delivery arrives, your system tracks the changes. That’s even when products get sold in bundles or if units form part of a larger package.

4. Advanced reporting

Inventory management can also help companies learn more about their wider business. Intelligent reporting of sales data, reorder levels and more provides invaluable insight. Such reports help companies to optimize order times and track their most popular products.

5. Support for multichannel sales

Few modern businesses are one-dimensional. Most e-commerce companies, for instance, sell via a range of varied channels. They may include third party sites such as Amazon or eBay, for example. Your inventory management system must integrate with such channels to ensure accuracy.

6. Inventory demand planning & forecasting

Superior inventory management is about the future as well as the present. The best inventory management systems account for this with built-in demand planning and forecasting features. Data on seasonality, consumer trends, and more gets leveraged to develop accurate forecasts of future customer demand. That ensures you can invest in the correct inventory at the right time.

7. Accurate accounting

The value of your inventory and how it changes is critical to business operations. An inventory management system must include integrated accounting. That’s how you get accurate, real-time tracking of your finances.

8. Raw material & assembly process tracking

Inventory management isn’t only for pure B2C retailers or online stores. It’s also critical to manufacturers who take their products to market. Inventory tracking solutions suited to these firms must have additional elements. They include the ability to track raw materials in the supply chain as well as handling assembly processes.

9. Cross-organisational integration

As crucial as inventory management is, it’s not a commercial island. It’s merely one part of your broader business operations. An ideal inventory management system integrates seamlessly with all other departments. That way, your whole company will forever pull in the same direction.

10. POS

For retailers with physical stores as well as e-commerce channels, integrated POS software is another must. Such software syncs all purchase and stock details from in-store transactions with the retailer’s broader automated inventory system. That way, inventory gets instantly updated across both online and offline channels. Rather than having a disparate store inventory management system existing in a silo.

Leave a Comment

12 + 2 =