Inventory Management Software: The Top 5 Picks of 2020

What is inventory management?

It’s clear that selling stuff to make profit matters to businesses, but people tend to not realize what happens in the inventory before the stuff is sold. Having a good grasp on the inventory is important to a business’s success. This is called inventory management. It accounts for how many items you have in your inventory, which provider is supplying which item, etc. And sometimes, the information is overwhelming, especially when businesses are expanding, bringing the size of their inventories up with them. That’s when inventory management software comes to the rescue. 

With an inventory management software application, all of the items’ information can be kept track of in a well-arranged and efficient way. The key difference between such software and a simple spreadsheet is that an inventory management program tends to be less convoluted and much easier to use. They also may include additional functions that are helpful for proper inventory management.

Today, we’ll present you with the top 5 inventory management software that we think come out on top in 2020.

Top 5 inventory management software in 2020

Ordoro

E-businesses often rely on long-distance shipping to deliver products to their customers. Ordoro’s greatest virtue lies in the service it provides for the shipping process.

The program offers discounted USPS (United States Postal Service) shipping rates, so it saves money for its users. Besides, it has a special tab devoted to order shipments. Remember the little barcode labels we sometimes find on the things we buy? These labels are technically called SKUs (stock-keeping units, basically are scannable barcodes). They let business owners keep track of the flow of their products. With Ordoro, businesses can easily keep track of SKUs with ease. You can attach scanned copies of SKUs to recorded items, where they will be safe and on paper, metaphorically.

As an inventory management software, Ordoro is a great choice for e-merchants who primarily sell their products online.

Forecastly

Amazon is a famous river in Brazil. It is also the name of the biggest e-commerce platform in the West. It connects merchants to customers and vice versa through the internet. However, due to the sheer number of clients they serve, sellers on Amazon often run out of stock. On Amazon, the higher rank of a product is, the more likely people will click on it. When a merchant runs out of stock, the ranking of their products lowers. They maintain their position only if they always have something in hand.

And the key to this problem is such inventory management software like Forecastly. Forecastly can prevent sellers from not having enough things to sell. Through analyzing product statistics, it advises users on what to buy, when to buy, and how much to buy. This software is a great asset for sellers on Amazon. As its name promises, it provides you with timely and accurate forecasts about what you should do to keep your business prospering.

Cin7

The first two listed tools both have very specific upsides and intended purposes. Cin7, on the other hand, is a more generalized tool. 

The keyword to describe this company is breadth. Cin7 offers a huge variety of services. Its targeted client group is extremely broad. It supports businesses that operate online, in-person, and both. Subsequently, it offers a larger spectrum of services. For instance, it allows you to manage multiple sales channels. Sales channels are when businesses do not sell their products directly. They instead pass their products through third parties and sell things from there. This software is a particular favorite of larger businesses that have many services or products offered. 

Many clients say in their review that Cin7’s services are streamlined and simple to use. And they really are. Founded in 2002, it has assisted business owners for nearly two decades. It will no doubt continue to do so.

Partkeepr

A lot of money is not always needed when it comes to procuring quality service, as happens with Partkeepr. Being function-wise, this inventory management software is a lot of steps up from primitive spreadsheets, yet it costs less. Partkeepr is the best option if you want to receive amazing service without paying tens or hundreds of bucks a month.

Partkeepr is an inventory management app that works on desktops and mobile devices. The app is completely free to download and use. It is, to use the fancy word for it, an open-source software. It’s a costless solution to keeping inventories in order. But Partkeepr is not just free. It’s also great. The vast selection of filters can help users find what they are looking for. Other than filters, users can also use the search bar to isolate items. When you want to view the details for a specific product or type of product, you do not have to look all over the place for it. Partkeepr lets you do it with a couple of clicks.

Partkeepr is not a profit-driven business. It does not have any flashy graphics or pretty slogans. Instead, its one goal is practicality, which it delivers with startling skill.

Oracle NetSuite

Last but not least, let’s take a look at an ERP (enterprise resource planning) software, NetSuite. It is a well-known company and a fierce competitor to tech giants such as Microsoft. The company offers many business-related programs, including inventory management software.

ERP software backs owners of enterprises with assortments of tools and programs. By definition, enterprises are companies with over a thousand employees and make a billion dollars’ worth of profit annually. Owners of these and smaller businesses may both look to NetSuite for premium management support. The software caters to a wide range of services, such as automatic updates on inventory numbers.

NetSuite is a useful, widely praised product that has proved itself to be a great partner to inventory management. Companies like this one will, for sure, not let you down. 

Final words,

As we walked through the top 5 picks of inventory management software that are believed to stand out in 2020, we hope that you can form a picture of an ideal inventory management software application for your businesses’ success. 

And if you’re interested in technology-related talk like this one, follow us closely for more interesting stories and helpful articles that are meaningful to you as business owners and operators. We, ConnectPOS, as one of the best POS solution providers, will be your tech-savvy companion on the way to know more about technology and how it has been changing the game in the retail industry. 

Should you need any further assistance, feel free to contact us!