Top 10 Inventory Management Solutions and their Benefits

Posted by sonali on February 18th, 2021

Inventory Management Software, also known as inventory control software, is an advanced platform that helps businesses manage and control the buying, selling, and storage of inventory. Inventory management software helps businesses keep track of stock data, helps simplify product pricing, and maintains effective stock levels. This solution helps automate trading, costing, ordering, assembling, transportation, delivery, storage, shipping, and other important business processes.

The top ten vendors of Inventory Management Software are as follows:

Zoho Inventory: Zoho Inventory offers numerous handy features that enable organizations to track inventory and orders with ease. It features integration with eBay, Etsy, and Amazon to enhance outreach,as well as payment applications such as PayPal to facilitate swift payment.

Orderhive: Orderhive provides integration with multiple channels, facilitating the seamless flow of business operations for online and offline retailers. Sellers can rely on the solution to revisit important inventory information, determine the channels that are lacking in terms of sales, and identify the products that move faster through certain channels.
NetSuite: NetSuite by Oracle is a cloud-based inventory management software that focuses on manufacturing, stock optimization, and purchasing. The software ensures efficient operations, minimizes human error, helps maintain the right quantity of inventory in order to support service level expectations, and features flexible pricing.
Agility: Agility, developed by DMSi, features an online portal that enables users to browse through available inventory, submit orders, request quotes, and even build custom items. Customers can also rely on this solution to print old invoices, check their account balances, and submit payments using credit cards or ACH.
Evergreen: Evergreen offers a comprehensive integration of business management solutions with its dashboard in order to help save time and streamline processes. The software enables easy operation and inventory management from any Internet-enabled device.
Galley: Galley is an integrated, cloud-based solution that enables businesses to streamline their processes and analyze important trends. With Galley, companies can focus on expanding and deepening customer relations.
IMS: IMS provides robust off-the-shelf operations, helping reduce the need for customization. With this solution, network planners have the necessary tools for developing new network architectures or upgrading them before incorporation into the live network. IMS helps users automate planned work impact analysis, make sales smarter, manage vendors, track KPI, and enhance SLAs.
EDULogic: EDULogic Tech is a web-based inventory management solution for Windows that provides useful insights into the operations of a business. This software gives users a comprehensive analysis of stock management, orders, inbound goods, billing, and outbound goods. Its user-friendly features allow for effective business control.
OneUp: OneUp minimizes accounting work and helps users complete tasks swiftly and without errors. It offers a full-cycle solution through a single platform, automatically synchronizes with bank accounts, and gives users a detailed inventory management process.
Palladium: Palladium Accounting Software offers end-to-end business management tools as well as a range of rich accounting features. It can process transactions even over slow network connections and features a dynamic online/offline mode. It has a custom touchscreen menu option that allows users to develop customized menus as well as assign item images.
Other leading Inventory Management solutions include PIRO, RS Enterprise, Shiprocket, Silo, SpaRc, STANLEY BLACK & DECKER INC, Stockpile, Tana, XPERT, Everest, and KlientScape.

Benefits of Inventory Management Software

Companies have to effectively manage their stocks in order to meet customer demand. At the same time, it is difficult to keep extra stock at all times. Without proper inventory management, companies either end up overstocking products or understocking them, leading to blocked resources, high warehouse expenses, unsatisfied customers, and losses. Best Inventory management software help users control products, keep prices low, and eliminate cash blocks.

With time-consuming and error-riddled books of records a thing of the past, users can automate inventory management using advanced software that automatically integrates purchases and sales with warehouse records. With inventory management software, companies can easily purchase or sell goods while seeing the exact number of items available in stock.

Other key features of inventory management software include improved supply of goods due to higher visibility, lower incidence of theft, improved financial performance, accurate reporting, minimal storage issues, automation of repeat transactions, and easy monitoring of stock purchases, transfers, and shipping.

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