6 Best Retail Inventory Management Software POS Systems

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

Raw ingredient tracking with Revel Systems.

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

A two-terminal minimum and three-year processing contract with Revel Advantage is required.

Revel offers in-house processing through Revel Advantage, with a flat rate of 2.49% + $0.15 for in-person transactions. Revel can also integrate with outside processors, but you will pay a higher monthly fee if you don’t use Revel Advantage.

Revel’s POS system with inventory management has all of the functions you would want in an easily digestible format. Though the POS is customizable enough to use for any industry, Revel is especially popular among quick-serve restaurants, thanks to its super-fast processing speed, features like multilocation ingredient management, and quick-serve hardware options such as digital menu boards and kiosk stands that can turn your iPad into a self-serve ordering device.

For retail, Revel offers a convenient style matrix for adding large amounts of inventory en masse with customizable category options for easy searches. For restaurants, it’s easy to check out ingredient levels and costs. Revel allows you to create purchase orders, including a convenient function where you can note if only a partial order arrives. As with some of the other systems, you can view inventory levels in real-time and set up alerts when products are running low — or you can have the system automatically order new stock. Revel also has an inventory app that turns your phone into a scanner.

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 multitude of third-party inventory software solutions

Easy inventory tracking with Lightspeed Retail.

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.

Note: Lightspeed Retail now requires all new merchants to use Lightspeed Payments, Lightspeed’s payment processor. Since you can’t use any existing payment terminals (card readers) from third-party payment processors with Lightspeed Payments, Lightspeed is currently running a free terminal replacement promotion for eligible merchants that includes two free Lightspeed POS terminals (card readers).

Eligible merchants include business owners that process a minimum of $100/day in card payments, as measured by a monthly average. Apple products are not included in this promotion, so you’ll still need to source an iPad to take sales.

Extra POS device software licenses cost $59/device/month.

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 ones.

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

You are an eligible merchant if you process a minimum of $25,000 in card sales and then submit documentation of your previous payment processing contract that states your early termination fees within six months of meeting this minimum.

It’s important to note that the “paying off” comes in the form of discounted payment processing fees, not a chunk of cash that goes towards your termination fees when you decide to switch to Lightspeed Payments.

Lightspeed is one of the most consistent and stable POS inventory systems we’ve reviewed. It is easily one of the best POS systems for restaurants. The company offers terrific features for inventory and POS software that caters to both restaurants and retail businesses. On the retail side, loading bulk items is simple; they can be easily sorted into groups by color, size, material, season, or any other qualification.

Getting more advanced, Lightspeed also makes it easy for items that require unique serial numbers (such as electronics) with the ability to create and track those products. If you need to bundle items to sell as a single SKU, Lightspeed also makes that process easy and calculates the cost automatically. As an added bonus, there are thousands of preloaded catalogs as well.

For restaurants, you can toggle stock levels on and off. When you switch the function on, you can see exactly how much of each ingredient you have on stock across multiple locations and set up automatic alerts when an item runs low. A unique ingredient management system allows you to individually create an ingredient and add it to an item, allowing it to be tracked.

Note that these Shopify inventory management features require the Shopify Pro ($89/month) add-on with the Stocky app that’s included on Pro accounts.

• Inventory counts & receiving: Scan in 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

Advanced inventory management with Shopify Pro and Stocky.

While you can run Shopify POS with just a smartphone and a $49 Shopify Tap & Chip Card Reader, most businesses with a physical store will opt for a countertop POS bundle to use with an iPad or tablet. Shopify sells bundles and individual POS components; for example, on Shopify’s website, you can buy a mPOP™ combined receipt printer and cash drawer for $499 (iPad and card reader not included).

If you want advanced inventory features, you will need to add to the $89/month Shopify Pro add-on to your Shopify plan.

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 starts at 2.4% for in-person transactions but could be as high as 2.7% depending on your monthly plan.

Shopify POS is especially useful for modern retailers that sell in-person and online, and want to sync their online and offline inventories for a multichannel shopping experience. Shopify lets your customers do things like place online orders at your POS in the event that your in-store inventory for that particular item is out. Customers can also buy items online and return or exchange them in your store—and your POS will automatically adjust your inventory accordingly. Shopify is one of the best POS systems for retail, and it shows with its inventory capabilities.

Shopify also has “smart” inventory forecasting tools that not only show your current stock levels, but also analyze your sales patterns to predict how much inventory you’ll need in the future, and guide reordering decisions.

Note that Shopify also integrates with several third-party inventory software options, including the Stocky app, which is included on Shopify Pro accounts. Another possible inventory software integration to use with Shopify is Shopventory. Shopventory plans start at $99/month but will eliminate the need to purchase the Shopify Pro add-on (and Shopventory actually has better reviews than those for Stocky, which models most of the Shopify Pro advanced inventory features).

Square offers some free inventory management features via Square POS, Square for Restaurants Free, and Square for Retail Free; advanced inventory features require a Square for Retail Plus subscription.

• 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 with Square for Retail Plus
• Item categories: View inventory by category
• Purchase ordering & vendor management: This feature requires Square For Retail Plus
• Cross-location stock transfers: This feature requires Square For Retail Plus
• Manage pending restocks: This feature requires Square For Retail Plus

Tracking inventory from the Square Dashboard.

When it comes to POS hardware, you can run Square with just a free credit card swiper or a $49 contactless and chip reader and a smartphone or tablet. But most businesses with a physical store opt for a countertop POS solution such as a Square Stand for iPad ($169 with a contactless & chip reader), or a dual-screen Square Register with a built-in payment reader ($799). Square also sells complete hardware kits; you can get a full Square Stand kit that includes everything you need to sell, including an iPad, cash register, receipt printer, and card reader for just $968.

Square offers both free plans and paid plans. While many businesses will be able to get by with a free Square POS or free Square for Restaurants or Square for Retail plan, you’ll find the most advanced inventory features on the $60/month Square for Retail Plus plan.

Square’s payment processing costs 2.6% + $0.10 for in-person payments across most of its plans. However, Square for Retail Plus subscribers get a reduced rate of 2.5% + $0.10.  Payment processing is built-in on all plans and you cannot use an outside payment processor with Square POS.

Square is one of the biggest names in point of sale for small businesses, and for good reason. The company has made convenience its brand by being one of the most user-friendly interfaces you’ll find, and by also offering a free POS system option. The Square system is as scaleable as it is affordable, featuring a generous array of features in its free apps, and bulked up inventory in its Square for Retail Plus and Square for Restaurants Plus offerings.

Even with its free app, Square comes with basic inventory features. To access Square’s more advanced inventory, you can subscribe to one of its more extensive services. Here, you’ll have an impressive body of inventory reports, purchase ordering management, low stock alerts, and the ability to manage and send inventory across multiple locations.

Vend features the following inventory features for retail outlets:

• Bulk importing from a CSV file: Import/export inventory to/from a CSV file
• Unlimited product management: Centralized product catalog with product bundling and separating
• Automated reordering: Set reorder points to automatically fill orders when you get to a certain level of stock
• Actionable inventory reports: See what’s selling and what’s not to help you make restocking decisions
• Barcode labels: Import, create, and print barcode labels
• Barcode scanner app: Free iPhone scanner app lets you conduct partial and full inventory counts
• Purchase ordering: Create and manage purchase orders
• Multichannel inventory: Sync with eCommerce apps such as Shopify, WooCommerce, and BigCommerce
• Multi-outlet inventory: Transfer stocks between different retail outlets (requires Pro plan or higher)
• Inventory software integrations: Use with inventory software like Unleashed, DEAR, Veeqo, and others

Creating purchase orders with Vend.

Vend sells POS hardware for iPad and PC and also gives you the option to source your own hardware. A complete Pro hardware bundle sold by Vend (includes an iPad, Heckler Windfall stand, barcode scanner, receipt printer, and cash drawer) for $1,036.49.

Vend software packages start at $99/month for a single terminal and location, billed annually.

Vend does not offer in-house payment processing and instead lets you integrate your choice of processor. Vend is compatible with a number of payment processors and gateways including PayPal, Square, Chase, Elavon, CardConnect, EVO Payments, WorldPay, North American Bancard, TSYS, Klarna, Clearent, and BlueDog in the United States.

Vend is a comprehensive retail POS whose inventory management is easy to maneuver without sacrificing functionality. This POS allows you to import a CSV file to transfer large amounts of inventory easily. You can also import existing barcodes or print new ones. There is a wide variety of options for organizing your products, making it possible to build customizable reports. The centralized product catalog is also a nice function.

Vend comes with a built-in way to automate promotions, making it possible to set discounts across multiple stores or create discounts for individual customers. Stock orders can be automatically generated once a certain item dips below a set point. What’s more, Scanner by Vend simplifies stock counts.

Vend’s inventory functionality can be extended using apps for dedicated inventory management software. Vend does not offer in-house eCommerce but will sync with your Shopify, BigCommerce, or WooCommerce online store.