Efficient inventory management is crucial for the success of any e-commerce business. Selling on multiple channels can easily get overwhelming however, with the right software, you can streamline operations, maintain optimal stock levels, and enhance overall efficiency. In this article, we’ll explore the importance of e-commerce inventory management software, key features to consider, and the top 7 solutions available. We will cover:
- What is E-commerce Inventory Management Software?
- Why is E-commerce Inventory Management Software Important?
- Features to Consider When Choosing E-commerce Inventory Management Software
- Top 7 E-commerce Inventory Management Software Solutions
What is E-commerce Inventory Management Software?
E-commerce inventory management software is a specialized tool designed to help online businesses efficiently manage their inventory. It includes features such as inventory tracking, order management, stock optimization, and reporting. By using this software, e-commerce businesses can maintain accurate inventory records, improve visibility into stock levels, and enhance operational efficiency.
Why is E-commerce Inventory Management Software Important?
Efficient inventory management is essential for e-commerce businesses for several reasons:
- Streamlined Operations: Inventory tracking software automates tasks and reduces manual efforts, leading to increased efficiency and optimized resource utilization. This streamlining minimizes errors, enhancing overall productivity and operational effectiveness.
- Optimal Inventory Levels: Real-time insights provided by the software enable businesses to maintain balanced stock levels, ensuring products are available when needed without excess inventory, thus improving customer satisfaction and reducing carrying costs.
- Enhanced Accuracy: Features like barcode scanning ensure precise inventory tracking, minimizing discrepancies and errors in inventory records, ultimately improving decision-making accuracy and operational efficiency.
- Cost Savings: Efficient inventory management facilitated by the software leads to significant cost reductions by preventing stockouts, reducing excess inventory, and streamlining operations, resulting in improved profitability and resource utilization.
- Informed Decision Making: Access to real-time data and detailed reports empowers businesses to make informed decisions about inventory management, purchasing strategies, and business growth initiatives, ultimately driving long-term success and competitive advantage.
Features to Consider When Choosing E-commerce Inventory Management Software
When selecting inventory tracking software for your e-commerce business, consider the following key features:
- Inventory Tracking: Real-time tracking allows you to monitor stock levels instantly, preventing overstocking or running out of essential products. This ensures you always have the right products available for your customers, reducing lost sales and excess inventory costs.
- Order Management: Effective order management features help you keep track of orders from suppliers and ensure timely delivery. Streamlining the procurement process ensures you maintain optimal stock levels and can respond quickly to customer demands.
- Reporting and Analytics: Detailed reporting features are crucial for making informed business decisions. Look for software that offers customizable reports on inventory levels, sales trends, and order history to help you understand your business performance and adjust your strategies accordingly.
- Barcode Scanning: Barcode scanning capabilities can significantly speed up the inventory process and reduce human error. Accurate tracking of stock levels helps maintain inventory accuracy, improving order fulfillment and customer satisfaction.
- Multi-Channel Support: If you sell on multiple platforms, choose software that supports integration with various e-commerce platforms for unified inventory management. This ensures consistent stock levels across all channels and simplifies inventory control.
- Scalability: As your business grows, your software should grow with it. Choose a system that can scale up as you expand, adding more features or accommodating more users without a hitch. This future-proofs your operations and supports long-term growth.
- Integration: Look for software that integrates seamlessly with your existing tools, such as accounting software. This creates a cohesive workflow, reducing manual data entry and ensuring all aspects of your business are synchronized.
Top 7 E-commerce Inventory Management Software Solutions
1. Vencru
Vencru’s e-commerce inventory management software provides a seamless solution for businesses, integrating essential functionalities into a cloud-based platform. With real-time stock visibility, automated barcode scanning, and efficient supplier management, Vencru simplifies inventory tracking, purchasing, and invoicing processes. Its user-friendly interface includes features like sales management, client tracking, and double-entry accounting reports, empowering businesses to streamline operations and make informed financial decisions. Accessible via a mobile app, Vencru’s scalable system caters to businesses of all sizes, optimizing inventory management, sales, and purchasing strategies while remaining cost-effective and easy to use.
Benefits:
- Keep all your client and supplier details organized in one central system for easy access and management.
- Efficiently track sales and generate comprehensive sales tax reports.
- Monitor product expiry dates and receive alerts when stock levels are low.
Pricing:
Vencru offers these plans with a 14-day trial period
- Free
- Starter – $6 per month
- Growth – $30 per month
- Enterprise – $50 per month
2. Zoho Inventory
Zoho Inventory is a robust and scalable inventory management solution designed for e-commerce businesses. It integrates seamlessly with various e-commerce platforms, offering features like real-time inventory tracking, order management, and barcode scanning. Additionally, it provides purchase order automation and supplier and client management. Also, it includes comprehensive reporting and warehouse management capabilities, thereby enhancing overall efficiency. Furthermore, with its user-friendly interface and integration with other Zoho Suite programs, Zoho Inventory helps businesses streamline processes, reduce errors, and optimize operations.
Benefits:
- Manage warehouses with multi-location feature
- Integrate Zoho Inventory with other Zoho Suite apps for streamlined business operations
Pricing:
Zoho Inventory offers these plans and a trial period:
- Free
- Standard – $39 per month
- Professional – $99 per month
- Premium – $159 per month
- Enterprise – $299 per month
3. inFlow
inFlow is a powerful inventory tracking software tailored for e-commerce businesses offering extensive features such as real-time inventory tracking, order management, and supplier management. Additionally, with functionalities like purchase order automation, sales tracking, and seamless integration with accounting systems, inFlow streamlines inventory processes. The software’s user-friendly interface and scalability make it ideal for businesses looking to enhance efficiency and accuracy. Furthermore, inFlow supports B2B showrooms and e-commerce integrations, catering to the unique needs of product-based businesses.
Benefits:
- Manage manufacturing with the Bill of material and manufacture cost tracking features
- Generate item barcodes for easy tracking
Pricing:
Inflow offers these plans as well as a trial period to users:
- Entrepreneur- $110 per month
- Small Business- $279 per month
- Mid- Size- $549 per month
- Enterprise- $1,319 per month
4. Cin7
Cin7 is a cloud-based inventory tracking software providing comprehensive tools for managing inventory across multiple locations, handling purchases, managing suppliers, and tracking sales. It seamlessly integrates with accounting software, enabling businesses to generate detailed reports and gain valuable insights into their operations. It also offers B2B e-commerce functionalities and supports a wide range of integrations for shipping, payments, and other essential services. Cin7 simplifies wholesale inventory management, ensuring a smooth and efficient workflow for businesses of all sizes.
Benefits:
- Manage discount and coupon codes for optimized sales efforts
- Create backorders, allowing customers to purchase when items are out of stock
Pricing:
- Standard-$395/ month
- Pro- $599/ month
- Advanced- $999/month
- Omni- Contact sales
5. Fishbowl
Fishbowl is a versatile inventory and purchase management software available in cloud-based and on-premise options. It offers flexibility to suit various business needs, the software includes comprehensive features such as inventory and purchase order management, sales tracking, supplier management, manufacturing oversight, as well as warehouse operations management. Fishbowl also integrates seamlessly with accounting software, providing valuable business reports and analytics. Ideal for wholesale operations, Fishbowl streamlines inventory management, ensuring efficiency and accuracy in every aspect of your business.
Benefits:
- Track items with customized part-tracking features
- Manage multiple warehouses with multi-location features
Pricing:
- Fish Bowl Drive (cloud-based) warehousing: $329 per month
- FishBowl Advanced (on-premise) Warehousing: $329 per month
- Fishbowl Advanced (on-premise) Manufacturing: $429 per month
6. Lightspeed Retail
Lightspeed Retail is an all-in-one inventory management software designed for businesses with e-commerce operations. It features a user-friendly interface for real-time inventory tracking, order management, and customer management. Additionally, the software automates key tasks such as discounts, receipts, and purchase orders, while also managing stock transfers across multiple locations. Furthermore, with robust sales analytics and reporting, Lightspeed Retail provides insights into sales trends and top-selling products, helping businesses make informed decisions. It also supports multi-channel integration and offers industry-specific features, thereby streamlining operations and enhancing efficiency for various e-commerce sectors.
Benefits:
- Customize workflows with API access
- Integrate Lightspeed retail with other tools like marketing, ERP, payments and others
Pricing:
Lightspeed offers these plans as well as a trial period to users with additional cost for multiple locations and extra registers:
- Lean- $139 per month
- Standard- $199 per month
- Advanced- $319 per month
- Enterprise- Get a quote
7. Sumtracker
Sumtracker is an inventory tracking software designed for e-commerce businesses that sell on multiple platforms such as Shopify, Etsy, eBay, Amazon, and Walmart. It offers features like multi-channel inventory sync, which updates stock levels automatically across all sales channels, and product bundle management, adjusting individual component inventory when a bundle is sold. Sumtracker also automates the purchase order process, allowing businesses to set up suppliers, prices, and low stock thresholds. Additionally, it provides comprehensive inventory reporting and alerts, including low stock notifications and inventory forecasting, helping businesses make informed decisions and maintain accurate inventory levels.
Benefits:
- Manage warehouses with multi-location inventory tracking
- Manage item bundling and inventory tracking easily
Pricing:
Sumtracker offers a free trial and pricing based on order volume per month:
- 200 order limit- $49 per month
- 1k order limit- $99 per month
- 5k order limit- $199 per month
- 10k order limit- $299 per month
- 100k order limit- $599 per month
Conclusion
Choosing the right e-commerce inventory management software involves evaluating various features that align with your business needs. Vencru offers e-commerce integration, real-time inventory tracking, expense management, double-entry accounting reports, budgeting tools, and more in one scalable solution. Streamline your inventory management processes and drive business growth, book a demo or signup for a trial today to get started!
