What is inventory control in business?
When your business rapidly grows, managing inventory tracking correctly requires more effort. Sticking to a pen and paper, in that case, will only mess up the operational routine, which will restrain your business from healthy development or kill it eventually.
It’s a problem many businesses face: too much inventory. But what if you could have the best of both worlds – the right inventory planning, and never running out of it? All of this is possible with a small business inventory software solution designed to manage your inventory.
In this article, we will explore some of the benefits that come from using an automation inventory control system for managing your products as well as how to find the right one for your business.
Automating your inventory planning can be an advantage in a constant struggle with your competitors. But the reason for making friends with specialized software is not only the digitalization trend around the SMB community but a vital necessity already. Here are the most obvious pros of getting rid of manual inventory management:
- Reducing the funds “frozen” in unnecessary stocks;
- Decreasing your warehouse costs such as rent, workers’ salaries, and variable costs;
- Improving your order accuracy;
- Integrating with other business tools: POS, accounting, CRM, bookkeeping;
- Ramping up your customers’ loyalty with favorite goods always in stock.
Today, small business inventory software is available as never before. While store owners can do this all by themselves, there are also many warehouse inventory management software solutions that can automate this process. However, finding the one to pick may become an unnecessary challenge for constantly busy business people. So, I tried to do the job for you and gathered a list of top-6 small business inventory software solutions that fit small businesses. Just decide which features are crucial for you, calculate your budget, and choose the most suitable option.
Top-7 warehouse inventory management software solutions
A business is only as good as its inventory. And while it may be tempting to buy more stock when your inventory starts to run low, it’s important to keep an eye on what you do (or don’t) sell each day and have an accurate inventory control. Lack of proper data can make it difficult for companies to determine what goods are popular and which ones aren’t performing well, which can lead to overstocking some items and a shortage of others.
To make the list, I used the following criteria: affordability, ability to integrate at least with accounting software, and overall positive perception of users.
1. Fishbowl inventory
If Odoo was great for custom and almost universal purposes, Fishbowl inventory is a complete small business inventory software solution. Its core audiences are wholesalers, retailers, and producers who want to stay in touch with their accounting solutions. But if you think that Fishbowl is a niche tool for QBO fans, you might be wrong! Xero, Shopify, WooCommerce, Salesforce. Those are the loudest names from the list of supported integrations.
Fishbowl inventory platform comprises two sub-products: Fishbowl Manufacturing and Fishbowl Warehouse. Plus, the company offers additional services and hardware.
Customers appreciate the user-friendly interface and client-centric support. But some users don’t like the reporting system, as it seems not always applicable to some businesses.
Booqable is a simple inventory control system that allows you to know what product is on your shelves, where it’s located, and how much there is. While many inventory planning systems are complicated enterprise solutions that are rarely used, Booqable offers an affordable, easy-to-use small business inventory software tool.
Booqable is a turnkey software for inventory control. It can be used to track and manage everything from the initial purchase to the end customer. It also integrates with hundreds of popular e-commerce platforms such as Shopify, WooCommerce, and Magento to make it even easier to manage your online store.
Everything from sourcing and procurement to sending and receiving, Booqable can help you get better insight into your inventory, enabling you to make smarter decisions.
Having accurate and precise inventory will provide you with peace of mind and a plan of action for upcoming seasons. Synder software will fetch correct inventory data from the platforms you are using into your books, so you will never run out of stock.
This software imports the data from the sales platforms and assigns the correct product to sales, which makes sure your inventory in the accounting software is accurate and up to date. With Synder, you have more freedom to customize your bookkeeping based on the if-then conditions.
You can also track and categorize your product inventory, locations, shipping, and discounts to have more accurate reports.
4. Odoo inventory management
Odoo is open-source software that primarily focuses on small business needs but allows for tailoring to any size on demand. So, it is highly customizable. Until you start using it with other products of the company, it will cost you nothing (the trial period is provided).
The module for inventory control is designed to help you keep track of your stock levels in real-time. It allows you to create an unlimited number of different products with their own inventory planning.
The app allows you to add third party integrations from their app store, in case you need a ready for use solution. In the meantime, Odoo provides its client with a bunch of integrated solutions, which help to unfold the whole digital infrastructure for the business: from marketing to inventory planning.
5. Zoho Inventory
You might know Zoho as an almighty octopus of business automation. So I couldn’t walk past this niche solution, as I like Zoho products myself. Except being integrated into its ecosystem, Zoho Inventory has a variety of useful connections with other services: from payment systems to shipping providers. Entering inventory info one time, you can update it in all the channels you use on Zoho Inventory.
This software service provides businesses with a tool for inventory control, purchase orders, and other important features. It helps companies track their products, store information about vendors and suppliers, and generate reports for their business.
It’s easy to use and deploy: it’s a small business inventory software solution that you access through your browser and requires no download or installation. And you can have your inventory control access anywhere. Free trial included.
In general, customers like Zoho Inventory, but their pricing transparency can freak new users out. Sometimes, if you buy a subscription per one product, it will eventually induce you to buy a unit with additional functionality that has not been featured in your current plan.
6. Square for Retail
Square for Retail is a free small business inventory software solution that gives you the power to run your entire business. Sell anything, to anyone, anywhere.
With Square, you can manage your inventory tracking and customize your product presentation with professional graphics. Manage customer loyalty programs and keep track of your customers’ activity with detailed analytics reports. All while using the latest trends in payment technology and security features.
With Square for Retail inventory, businesses can now take full advantage of all the features of Square’s software and hardware products while keeping their customers in mind. They can create customized solutions to fit their business needs at an affordable price. Whether you’re looking for ways to streamline your current operations or want to start fresh with Point-of-Sale (POS) system, Square can be your righthand… tool.
One more cloud-based multi-tool for inventory control and a whole bunch of other useful features is Cin7. Cin7 is a leading manufacturer of inventory tracking and warehousing inventory management software solutions for retail, manufacturing, distribution, and service industries.
It becomes the best option if your business uses an omnichannel distribution model. Cin7 sets its mission as providing customers with an all-in-one platform for containing costs as they expand to new markets and add sales channels.
SMB owners will appreciate the high-level support of the product team. Especially when it comes to the initial implementation of Cin7 into their existing infrastructure. Customers also highlight the great flexibility of Cin7 and the convenient analytical platform behind it.
Integrating software can be a headache for overloaded business owners. And inventory control system won’t be an exception. Inventory planning is the backbone of any thriving retail business. Warehouse inventory management software is where you need to focus your energy to get this job done.
Take a deep breath and choose the option that offers the best support, the easiest onboarding, and has a wide user community behind. Keep in mind not only the features you need right now but those that you will need a few years later.
If you have already gone through the integration process, what challenges did you face?
Or maybe you are currently choosing your ideal vendor? What is your potential choice? Share your opinion with us in the comments below.