Best Inventory POS Systems

Lightspeed offers numerous inventory tools for businesses of any size:

• Simplified Stock Counts: View stock on hand and stock value at a glance.
• Easy Reordering: Order stock directly from the POS.
• Real-Time Inventory Management: Includes real-time deductions as items are sold and automatic replenishments when inventory is received.
• Multichannel & Multilocation: Manage inventories for in-person sales, online sales, and multiple locations.
• Barcode Creator: Print custom labels and barcodes for your inventory items.
• Consolidation Tools: Consolidate purchases, transfers, and orders into a single order.
• Simplified Price Editing: Change prices in bulk.
• Return Management: Automatically remove returned items from inventory.
• Google Local Inventory Ads: Display your ads when local customers search for something you have in stock.
• Inventory Software Integrations: Integrates with a multiple third-party inventory software solutions.

Retail features include:

• Sort bulk items by color, size, material, season, or any other qualification
• Create and track items with unique serial numbers
• Product bundling with automatic cost calculation
• Thousands of preloaded catalogs

If you operate a restaurant, these features are available:

• Toggle stock levels on and off
• Set up automatic alerts when an item runs low
• Ingredient management system for ingredient tracking

Lightspeed Retail works on iPad or desktop PC, while Lightspeed Restaurant is iPad-only.

Lightspeed’s hardware is quote-based, and you can also source it yourself.

The above pricing applies to Lightspeed Retail. Extra POS device software licenses cost $59/month/device.

Lightspeed Restaurant plans start at $189/month, but for advanced inventory management, restaurants will need to purchase the more advanced plan.

Lightspeed Payments is a fully integrated payment option with in-person transactions priced at 2.6% + $0.10 for in-person transactions and 2.9% + $0.30 for online transactions.

Businesses on the Premium Lightspeed Restaurant plan or Enterprise Lightspeed Retail plan can request custom processing rates.

Note: Lightspeed Retail requires all new and existing merchants to use Lightspeed Payments. If you currently have a contract with a different payment processor that includes an early cancellation fee, Lightspeed will cover that fee for eligible merchants.

Lightspeed contract lengths vary, but could be as long as 14 months.

Lightspeed will also charge an early termination fee if you wish to leave your contract early.

Note that these Shopify inventory management features require the POS Pro add-on with the Stocky app that’s included on Pro accounts.

• Inventory Counts & Receiving: Scan inventory with a barcode scanner and track changes.
• Inventory Analysis: Use the stock performance grading system to make reordering decisions.
• Inventory Transfers: Request transfers from other locations.
• Low Stock Warnings: Receive alerts when you need more stock, based on sales and vendor lead time.
• Detailed Inventory Reports: View inventory states and trends to plan for the future.
• Purchase Ordering: Create purchase orders for vendors and suppliers based on demand forecasting.
• Multichannel Inventory: Track and sync inventories across sales channels.
• Sale Suggestions: Receive prompts to sell slow-moving products to release cash from your inventory.
• Product Collections & Variants: Categorize products with variants and smart collections.
• Returns & Exchanges: Automatically adjust inventory when items are returned or exchanged.

Additional features include:

• Online orders at POS if in-store inventory is out of stock
• Buy online and return or exchange in store

Shopify has numerous hardware options. While you can run Shopify POS with only a smartphone and a Shopify Tap & Chip Card Reader, or even just an iPhone using Tap to Pay, most businesses with a physical store will opt for a countertop POS bundle to use with an iPad or tablet.

Shopify sells both bundles and individual POS components; a Countertop Kit that includes a tablet stand and wired smart terminal (iPad/tablet not included).

Shopify offers a discount if you pay annually.

If you want advanced inventory features, you’ll need to add the POS Pro add-on to your Shopify plan.

Shopify also integrates with various third-party inventory software, including Thrive by Shopventory. Additional fees for integrations will apply.

Shopify has integrated payment processing with Shopify Payments and can also integrate with outside payment processors. However, if you choose to use another payment processor, you’ll pay an additional transaction fee to do so.

Shopify Payments flat-rate processing ranges from 2.4% – 2.7% depending on your monthly plan.

Shopify Payments is a third-party payment processor, which means that you will not receive your own dedicated merchant account and the stability that comes with having your own merchant account.

Shopify POS also doesn’t support offline credit card payments, so you will need a stable internet connection to use Shopify.

Square offers some free inventory management features, but advanced inventory features require subscribing to a paid plan.

• Manage Inventory In Bulk: Download reports on current inventory and update inventory quantities in bulk.
• Daily Stock Alert Emails: Daily report details items that are low or out.
• Easy CSV Spreadsheets: Import/export inventory with CSV or Excel spreadsheets.
• Barcode Labels: Create new items by scanning barcode labels (GTIN & SKU); print labels if you’re on a paid plan
• Item Categories: View inventory by category.
• Purchase Ordering & Vendor Management: This is available on paid plans.
• Cross-Location Stock Transfers: This is available on paid plans.
• Manage Pending Restocks: This is available on paid plans.

When it comes to POS hardware, you can run Square with just a free Square credit card swiper or a contactless and chip reader and a smartphone or tablet. Most businesses with a physical store opt for a countertop POS solution such as a Square Stand for iPad, or a dual-screen Square Register with a built-in payment reader.

Square also sells hardware kits if you want a complete solution.

Square offers both free plans and paid plans. You’ll find the most advanced inventory features on the Plus or Premium plans.

Square’s flat rate credit card processing costs 2.4% – 2.6% + $0.15 for in-person payments.

Payment processing is built-in on all plans, and you cannot use an outside payment processor with Square POS.

Like Shopify Payments, Square Payments is a third-party payment processor, also sometimes called a payment service provider or PSP.

This type of processor does not give merchants their own dedicated merchant account, and some merchants may experience disrupted service as a result. High-volume businesses or businesses with large transaction sizes may struggle with account stability when using a PSP.

Suitable for any size business, this cloud-based POS can help even large, multilocation businesses manage their inventories.

• Matrices: Simple matrices to track and find products.
• Mobile Scanner: Scan inventory with your mobile device.
• Multichannel Inventory App: Monitor inventory levels across multiple stores remotely.
• Inventory Alerts: Including automatic low-stock alerts.
• Retail Or Restaurant Inventory Management: Includes raw ingredient tracking.
• PO & Vendor Management: Create custom purchase orders & manage vendors.
• Inventory Reporting: Easily compare inventory & sales numbers across a selected timeframe.

Revel iPad POS hardware is quote-based; however, you also have the option to source your hardware yourself.

Revel’s monthly pricing is also quote-based, and you will need to purchase at least two terminals and sign a three-year processing contract with Revel Advantage to get the lowest monthly pricing.

Revel offers in-house processing through Revel Advantage, but you will need to call for a processing quote.

Revel can also integrate with outside processors, though you will pay a higher monthly fee if you don’t use Revel Advantage.

To get the lowest price with Revel, you will need to commit to a three-year processing contract with an early termination fee, and purchase a minimum of two terminals.

Hike offers the following inventory management functions, and others:

• Unlimited Product Catalog: Includes an unlimited number of products that you can sort based on any number of variants (size/color/cost, etc.).
• Easy Product Management: Create composite product bundles, use bulk import and export wizard.
• Inventory Counts: Full and partial inventory counts that can be scheduled ahead of time.
• Inventory Tracking On/Off: Activate or deactivate inventory tracking rule by product.
• Multistore POS: Allows simple stock transfers between stores.
• Purchase Ordering: Easy purchase order creation.
• Supplier Management: Record supplier info and contact info, and allocate suppliers to specific products.
• Automated Re-Ordering: Automatic re-ordering based on inventory levels.
• eCommerce Inventory Tracking: Track your online store inventory separately or sync it with your physical store (supported eCommerce channels include Shopify, WooCommerce, and BigCommerce).

You can use Hike on virtually any hardware setup, including self-sourced setups. Some examples of popular POS hardware bundles offered by Hike include Elo PayPoint Plus (all-in-one) and Star mPOP.

However, Hike does not list pricing for these bundles on its website.

Hike software packages start at just $59/month for a single terminal and location, billed annually.

Hike integrates with many different payment processors and gateways. Some of these choices include Square, WorldPay, PayPal Zettle, Clearent, Elavon, Chase, and Fiserv, among others.

While Hike integrates with various payment processors, Hike does not include in-house processing. This means you will need to arrange with an integrated merchant services provider to take credit card payments with Hike.

Hike also doesn’t include in-house eCommerce, so if you need this feature, you will have to sign up with an integrated eComm service, such as Shopify.