Top 8 inventory management software of 2024

In order to remain neutral, the article will not analyze the strengths and weaknesses of each inventory management software because weaknesses for some businesses may be plus points for others and vice versa. We’ll give you the most honest and up-to-date information on the following criteria, from which you can reflect on your business conditions and characteristics and make your own decision.

• Business size and industry
• Platform or a cloud-based
• Key features and integrations
• Support service (an important but often overlooked aspect despite the long and complicated deployment process in the early days of getting used to the inventory management system)
• Pricing plan

Now it’s time to take a closer look at the top 8 options!

Best inventory management software with accounting integration: QuickBooks Commerce

The company is formerly known as TradeGecko. While QuickBooks is best known as an accounting software system, you should know that it also offers powerful inventory management software, suitable for a wide variety of businesses of varying sizes and budgets.

• Platform: cloud-based and can work with popular B2B eCommerce platforms such as Shopify, WooCommerce, Magento, BigCommerce, and Volusion
• Key features and integrations:
  • Automated stock adjustments
  • Monitor all products you manufacture and sell, and restock across all locations, warehouses, and sales channels
  • Manage orders from multiple sales channels to streamline fulfillment processes
  • Manage inventory lists and stock at each location with details of cost, stock history, product variants, and MAC (moving average cost)
  • Manage products, orders, and customers in one dashboard
  • Track product by pack sizes, batches, and expiry dates
  • Email quotes and send customers a link to invoices with credit card payments
  • Include inventory control, accounting, payroll services
  • Support for multiple currencies and shipping rates
• Support service: free onboarding and 24/7 technical support
• Pricing plan: QuickBooks Commerce is part of QuickBooks Online with the following plan.
  • Founder: $39/month
  • Lite: $79/month
  • Small business: $199/month
  • Business: $599/month

QuickBooks Commerce pricing

Best inventory management software at the most affordable cost: Square Inventory

Square is the leading payment processor and POS provider so Square inventory management software is best for companies that already use Square as payment processors and suitable for small retails.

• Platform: Square
• Key features and integrations:
  • Track inventory items and perform basic inventory management tasks
  • Sends daily alert emails to help you recognize low stock
  • Manage items across multiple warehouses and stores, submit purchase orders, print barcode labels, and track vendors and customers (Only available with Square on Retail Plan)
  • Automatically port over inventory transactions into your accounting system if you integrate Square with your accounting service (Only available with Square on Retail Plan)
  • No invoicing features
  • No manufacturing features
  • Integrate with shipping, HR, and accounting apps from Intuit QuickBooks, Xero, Stitch Labs, IFTTT, TaxJar, SumAll, Fresh KDS, Shopseen, and ShipStation
• Support service: You can reach support via email, chat, and phone.
• Pricing plan: If you’re already using Square for your POS or payment processing, Square inventory management software is already included at no extra fee. Or else, you must register for Square’s Retail Plus plan at $60/month/location.

Square Inventory pricing

Best inventory management software for small businesses: Zoho Inventory

Zoho inventory management software is designed for small companies with a limited number of orders per month and limited budget.

• Platform: a free cloud-based platform that can work with Shopify
• Key features and integrations:
  • Allow accepting backorders on out-of-stock items
  • Arrange dropshipping
  • Manage multiple warehouses (only available at Upgraded Plan)
  • Track serial number and batch (only available at Upgraded Plan)
  • Sync multiple Shopify stores to your account (only available at Upgraded Plan)
  • Handle multi-currency transactions
  • Limited to 30,000 online and offline orders/month
  • Limits invoices, warehouses, packing slips, and shipping labels
• Support service:
  • Support accessible through email, online chat, and phone 24/7
  • In case you want to have implementation and training, you can pay for a tailor-made Expert Program at extra cost.
• Pricing plan:
  • Starters: Free
  • Upgraded plan: starting at $79/month

Zoho Inventory pricing

Best inventory management software for medium and large retailers: Cin7

The highlight of Enterprise resource planning (ERP) software is that it meets all the needs of the business from accounting, inventory management, POS, and CRM, so it is very expensive. In general, ERP systems are only for big companies with a lot of money to invest and time to deploy. Cin7 has broken that stereotype by releasing standard versions at midsize cost. However, it’s still one of the more expensive options in our list.

• Platform: ERP platforms
• Key features and integrations: Cin7 is more than just an inventory management software. It’s an all-in-one solution from Inventory to POS and manufacturing, just except for accounting.
  • Provide full B2B eCommerce and manufacturing features
  • Include Barcode scanning, inventory tracking, and order fulfillment features
  • Include Payment portal
  • Provide advanced demand forecasting and multichannel support
  • Integrate with 450+ platforms and services including eCommerce, online marketplaces, 3PL warehouses, shipping, accounting, sales and marketing, and inventory forecasting solutions
  • Includes built-in POS, warehouse management, and B2B eCommerce and EDI for selling to large retailers
• Support service:
  • Include implementing, migrating data, setting up integrations and testing business workflows, working to a set timeline. Provide training materials for staff
  • Have an account manager to facilitate onboarding and implementation process to ensure the project meets timeline and resolve any issues that may arise during the implementation period
  • If you need attention and additional resources, you can pay more for Premium Support Plus, which includes a dedicated Customer Support team and additional staff training.
• Pricing plan: entry level at $395/month

Cin7 pricing

Best inventory management software for small eCommerce retailers on Shopify platform: Shopify

Shopify isn’t an independent inventory system as it can be only used within your Shopify stores. However, if you focus on your business at Shopify store only, Shopify inventory management software will be the perfect choice for you.

This choice becomes even more powerful with the integration of barcodes, streamlining operations, and enhancing efficiency throughout your inventory management processes.

As you focus on managing your inventory with Shopify, consider our barcode generator app. It makes handling barcodes easy, improving accuracy and efficiency in your store’s inventory management.

• Platform: Shopify
• Key features and integrations:
  • Syncs with your Shopify store
  • Track incoming and outgoing inventory, transfer inventory between locations
  • Conduct inventory analysis to suggest selling well items
  • Can’t manage dropshipping orders, track customer fulfillment
  • No customized B2B portals
  • Limited multichannel selling capabilities
• Support service: support accessible through email, online chat, and phone 24/7 when issues arise
• Pricing plan: if you’re already a Shopify user, Shopify inventory management software is already included without fee in your plan.
  • Shopify Basic costs $29/month, with 2.9% + 30¢ per online transaction.
  • Main Shopify plan costs $79/month, with 2.6% + 30¢ per online transaction.
  • Advanced Shopify costs $299/ month, with 2.4% + 30¢ per online transaction.

Shopify pricing

Best inventory management software for Magento retailers with POS integration: Magestore inventory management

Magestore is the World’s #1 POS for Magento. However, you should know that this POS solution also provides you with powerful retail inventory management software in the backend.

• Platform: Magento
• Key features and integrations:
  • Inventory counts to determine inventory cycle
  • Inventory control to track stock on hand, transfer items, and adjust stock
  • Stock movement to record stock in and out of every location
  • Quick stocktaking in 3 steps
  • Inventory adjustment to record the actual number in your warehouse
  • Inventory forecast to purchase products based on the sales velocity
  • Keeps track of your stock flow across all and every sales channel and location
  • Have one product catalog across channels to reduce errors and data entry
  • Include barcode management to generate and print barcodes, scan these barcodes during sales, receiving products, or stocktaking
  • Apply pricing tier and discounts across all products, sales channels, or customer groups
  • Streamline multi-channel selling
  • Let employees perform 10+ inventory operations based on their roles
  • Set different permission levels for inventory managers and staff
  • Include complete inventory reports to identify the best and worst selling items, the most efficient warehouse, and customer favorite products
  • Utilize the latest Magento technology including GraphQL, Elasticsearch, Magento 2.3, or Magento 2.4
• Support service:
  • The solution fee has already included one-year free warranty and free implementation. Onboard happens right after purchase by an account manager and support team to guide and troubleshoot via real-time response in a dedicated live chat support Slack channel. Magestore ensures your timeline with a transparent plan and acceptance meeting with you every week until you successfully use the solution.
  • If you want a special monitor or even on-site on launching days of the system, you can pay more for Go-live Service.
• Pricing plan: inventory management software is included in one-time payment when you purchase Magestore POS solution. Merchants can book a business consultant to get a quote.

Book a free demo to get a quote of Magestore inventory management

Best inventory management software for restaurant: Upserve by Lightspeed

Restaurants use inventory management systems in a completely different way from other industries due to their unique industry characteristics. Upserve is one of the few rare inventory management software designed specifically for restaurants and successfully meets those special needs.

• Platform: cloud- and app-based, with the mobile app working on Android and iOS devices
• Key features and integrations:
  • Allow determining the price of menu items and identify food waste
  • Include ingredient-level inventory tracking and automatically calculate the amounts of each ingredient to deduct from inventory whenever you sell a menu item
  • Automatically identify low-stock items and allow sending purchase orders to restock from Upserve app
  • Include vendor management (only available on upper-tier plan)
  • Integration with a built-in POS system to process payments and assign tables and servers, fire orders, and add notes to checks
  • Incompatible with Android devices
• Support service: provide training along with a help center. You can also contact customer service by phone, email, or chat support.
• Pricing plan: the cheapest plan that includes inventory management is Pro at $199/month plus an extra $40–$60/month per POS terminal.

Upserve by Lightspeed pricing

Best inventory management software for warehouse management: Fishbowl Warehouse

Fishbowl Warehouse is an Australian- and New Zealand-based company that focuses on optimizing warehouse operations.

• Platform: can work with eCommerce platforms and marketplaces such as Magento, Shopify, WooCommerce, BigCommerce, Zencart, Amazon, and eBay
• Key features and integrations:
  • Check stock levels, pick and pack orders, and ship items
  • Track inventory levels for individual parts of the complete products
  • Track manufacturing, storage, and labor costs for each individual part in warehouses
  • Provide more detailed, in-depth cost of goods sold (COGS) calculation
  • Integrate seamlessly with QuickBooks accounting software
  • Includes built-in UPS shipping features to print pick lists and shipping labels
  • Supports multiple warehouses
  • Include barcode scanning with mobile devices
• Support service: you can reach support by email, phone, and chat when issues arise. If you need intense training and premium services, you can pay more for the Ocean Support program.
• Pricing plan: one time payment, starting at $4,395

Fishbowl Warehouse pricing