Keeping track of every detail of your inventory as a wholesale business is demanding. For wholesalers, being on top of your inventory is key to your success and as your business expands and demand increases, there is a need to get a system to manage this vital aspect effectively. In this guide, we’ll discuss inventory management software for wholesale and all you need to know to get started.
- What is Wholesale Inventory Management Software?
- What Features Do the Best Inventory Management Software for Wholesale Include?
- 5 Best inventory management software for wholesale business
- The Best Inventory Management Software for Wholesale
What is Wholesale Inventory Management Software?
Wholesale inventory management software is a tool designed to optimize the tracking and control of inventory for wholesale businesses. It is designed to meet the unique needs of wholesale operations, such as handling large quantities, managing bulk orders, and facilitating efficient order fulfilment.
What Features Do the Best Inventory Management Software for Wholesale Include?
The best inventory management software for wholesale businesses should have a range of features to enhance efficiency and accuracy. Key features include
Real-Time Inventory Tracking:
Staying informed about stock levels in real-time is crucial to prevent stockouts and ensure timely replenishment. This feature provides a live snapshot of your inventory, empowering you to make informed decisions and meet customer demands promptly.
Bulk Order Management:
Wholesale operations demand efficient handling and processing of large orders. The software’s ability to facilitate quick order creation, process and track orders, generate packing slips, and communicate shipment statuses to consumers guarantees that your business can effortlessly manage large orders.
A reliable barcode scanning system facilitates quick and error-free stock management, enabling wholesalers to expedite tasks like stock counting, sales recording, and order fulfilment.
Wholesalers benefit from systems that allow them to manage and track customer transactions all in one place, monitor outstanding invoices, and build strong relationships with clients.
The software should facilitate the ability to manage relationships with suppliers by allowing wholesalers to manage all vendor information in one centralized location, create purchase orders, and track vendor bills to maintain efficient supply chains.
Seamless integration with other business tools, such as accounting software and e-commerce platforms, is a game-changer. This ensures that your inventory management is part of a unified system, reducing manual data entry and enhancing overall operational efficiency.
Robust reporting features are essential for wholesalers to make informed decisions regarding sales, expenses, and overall business performance. The software should offer insights via customizable reports, including client statements and sales by customer reports, which outline customers’ transactions over a specified period aiding in tracking debtors and unpaid invoices; ageing reports, facilitating the monitoring of unpaid bills and their duration; and income statements, crucial for evaluating business profitability.
5 Best inventory management software for wholesale business
- Zoho Inventory
Vencru – Simple inventory management and accounting software
Want to keep inventory management simple, comprehensive and efficient? Vencru’s simple all-in-one inventory management, invoicing and accounting software meets your needs. It includes robust features such as: real-time inventory tracking, accountins, order fulfilment tracking, integration with e-commerce platforms, invoicing, barcode scanning, vendor management, client management, etc. Vencru is also very affordable. It is available on Web and Mobile.
- Vencru’s user-friendly interface is easy to navigate for users without prior accounting or software experience
- It is comprehensive and affordable, making it an ideal software for businesses at any level.
- Enjoy an all-in-one solution for inventory management, invoicing and robust accounting
- Limited e-commerce integration options compared to alternatives (Shopify integration available)
Vencru offers these plans with a 14-day trial period
- Starter – $6 per month
- Growth – $30 per month
- Enterprise – $50 per month
Quickbooks is a cloud-based accounting software for businesses with inventory management, sales reporting and accounting features. Its’ inventory management feature covers stock-level monitoring and reporting, inventory accounting, and multi-channel sales tracking
- Comprehensive inventory management with robust accounting
- Quickbooks offer integration with e-commerce platforms
- Quickbooks tends to be expensive for businesses starting with a tight budget
- It has a steep learning curve for users new to inventory management software
- Quickbooks lacks order fulfilment tracking and barcode scanning
Quickbooks offers these plans with a 30-day trial period:
- Simple Start – $30 per month
- Essentials – $60 per month
- Plus – $90 per month
- Advanced – $200 per month
Ordoro is a centralized e-commerce inventory management software for businesses tracking sales and order fulfilment through multiple channels. It covers order and shipping management, inventory management and drop shipping management.
- Integrates with multiple e-commerce platforms
- Offers discounted rates to users to save on shipping costs.
- Requires integration with accounting software to create reports available only on the most expensive plan
- Ordoro’s prices tend to be high for small businesses
Ordoro offers three plans with a trial period:
- Essentials – Free
- Advanced – $59 per month
- Premium- $149 per month
Zoho Inventory is an inventory management system for businesses offering integration with e-commerce platforms, sales tracking, vendor and client management, barcode scanning, order tracking and reporting. It offers warehouse management and integrates with other Zoho Suite programs.
- Zoho inventory offers warehouse management for multiple locations as well as e-commerce integrations
- It is easy to use for businesses without previous inventory management software experience
- Zoho inventory has limited e-commerce integrations compared to alternatives
- It offers limited customization to users
Zoho Inventory offers these plans and a trial period:
- Standard – $39 per month
- Professional – $99 per month
- Premium – $159 per month
- Enterprise – $299 per month
Xero is a cloud-based software offering businesses inventory management, sales reporting, business reporting and accounting in one place. It lets users track inventory performance, automatically manage stock level and stock value as well as generate accounting reports on business performance.
- Xero offers more functions than inventory management. This includes business reporting and accounting as well as integration with the payroll system
- It integrates with e-commerce platforms for multi-channel sales tracking
- Xero is not very user-friendly and tends to be non-intuitive for users new to inventory management software.
- Xero tends to be expensive for small businesses with the lowest plan offering very limited features like 5 vendor bills per month.
Xero offers three plans with a trial period of 30 days
- Early – $15 per month
- Growing – $42 per month
- Established – $78 per month
The Best Inventory Management Software for Wholesale Business
Effective inventory management is a key factor in the success of your wholesale business. Experience ease, comprehensive inventory management and robust business accounting on Vencru’s all-in-one platform.