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Inventory Software Reviews

buyers guide
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  • Orderhive Review

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    Pros Advanced feature set Wide range of integrations Good value for money Cons Buggy Low-quality support materials Overview The word “hive” is pretty evocative. It conjures up mental images of insects, architecture, and sweet, sweet honey. As a metaphor for business, it invokes both the light and dark ends of a spectrum. On one hand, […]

  • SalesBinder Review

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    Overview: Despite its slightly misleading name, SalesBinder is not simply for sales people. It’s online inventory management software that provides you with all the basic tools you need to manage not just your inventory but your customers, invoices, suppliers, and purchase orders. It also lets you record sales prospects and estimates, and then automatically convert […]

  • Square Inventory Review

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    Pros Highly affordable Easy set-up Can accept thousands of items Cons Features not very robust Overview If you’re a small business owner who is currently comparing and contrasting POS systems (and since you’re on this site, I’d say those chances are good) then the odds are that you’ve at least looked into Square — if not […]

  • Stitch Labs Review

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    Do you need a better inventory management option? Stitch Labs offers strong features, is easy to use, and has 100+ integrations so you can easily stitch this product together with your existing business software.

  • Unleashed Review

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    Overview Unleashed is online inventory software designed for use by small, medium, and large businesses. What most distinguishes Unleashed is how extensive the system is; the wealth of different features makes it something that any type of company could use – from, say, a small independent shop to a large corporation with multiple warehouses and […]

  • Veeqo Review

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    Overview: Veeqo is a cloud-based, multi-channel inventory management application designed for small to large businesses. It manages orders, inventory, suppliers, purchase orders, and shipping for your company through one portal. eCommerce integrations allow you to import orders from your online sales channels, while Veeqo’s numerous shipping add-ons make getting products out to customers simple. Veeqo, like […]

What Is Inventory Management Software?

You run a warehouse. Or you manufacture your own items. Either way, you have a lot of product with a need to keep track of it somehow. Maybe right now you are using a spreadsheet. Maybe you use an old notebook or ledger. Whatever you’re doing, it has gotten more and more difficult as the years go on, and the time has come for a serious upgrade.

That’s where online inventory software comes in. More than just simple ways to track your products, these powerful inventory tools are capable of tracking your customers, your vendors, even creating purchase orders and invoices. While software like this is often not cheap, it usually pays for itself with increased efficiency.

But how to choose? What to look for? Fortunately, you don’t have to figure out everything on your own. Here at Merchant Maverick, we have done a bunch of the work for you. To learn more, read on.

How Can Inventory Software Help Your Business?

Some inventory software is capable of simply that: tracking inventory. Other solutions, though, carry over into purchasing and sales as well. All can be helpful, from the most simple to the extremely complex. Here are a couple of ways inventory software can be beneficial:

  • Inventory Management: You will have to decide for yourself whether you will track items by name or number, but most software programs can do both. Some allow you to upload images of your various products, which may be a useful option depending on your industry.
  • Sales Management: I want to emphasize right out of the gate that not all inventory software offers this type of feature. Sales management tools go beyond simple inventory tracking, allowing you to keep track of your customers and quickly generate invoices and sales reports for them.
  • Purchase Management: As with sales management, not all inventory software includes this sort of thing. Purchase management features allow you to keep track of all your suppliers. More than that, though, some inventory software programs will either remind you when your stocks get low or even automatically order more if you choose.

Common Features to Look For:

All kinds of industries stock inventory and different businesses will have different requirements of an inventory tool. Fortunately, there are a slew of options out there, all offering a slightly different list of features. There are a few things that most programs will have in common, though:

  • Low stock alerts: As I mentioned above, some inventory software providers notify you when stocks of your various items get low. There are obvious uses for such a feature: you get to decide what your thresholds are, so in theory, you will never run out of stock again.
  • Purchase order generator: Sick of writing your own POs? Fortunately, most providers will automatically create purchase orders and invoices. If that’s the kind of thing you are interested in, keep your eye out for this feature.
  • Reports: While you probably have ideas about which of your products sell best, the reports that come with most inventory software programs are capable of going much deeper into the economics of your business, showing you your best performers and your worst.
  • Inventory Organization: Depending on your industry, you may need more or less complexity in your inventory organization. Whether you need categories, unique tags images, or other sorting methods, there is a service out there that will have what you need.

How Much Will It Cost?

I have come across a pretty wide spectrum of pricing in my time reviewing inventory software. There are a variety of factors that can affect your bottom line, including:

  • Complexity: As I have mentioned before, some inventory programs are more complicated than others
  • Multiple Warehouses: If you have more than one location, it will be best if you can separate the different warehouses in your inventory software. This feature often increases the price of software, with different providers increasing the price with each additional warehouse.

Choosing Specific Inventory Software

Now that you have some idea what inventory software is, which features to look for, and how much a system might cost, it’s time to get specific. At Merchant Maverick, we’ve spent countless hours researching and testing the best inventory management programs on the market. Read our comprehensive reviews for more information, or check out this handy comparison table if you want a quick overview of the industry in general.

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Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

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