Inventory management is a vital tool for all retail businesses. It is a major part of the operations of a retail firm without which it would not be possible for the firm to serve its customers. It is very important to have just the right amount of inventory in stock. Too little and you may end up with stock outs. Too much would create unnecessary expensive overheads and, in case of perishable items, wastage.
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There are many inventory management tools available online. Some of them are part of ERP and CRM packages while others are stand alone products. Let’s take a look at a few of these options.
Inflow is not just an inventory management tool but a complete ERP solution that includes POS systems, supply chain management etc. It is a versatile tool that is easy to use and easy to learn through its training modes. A complete retail solution for medium to large retailers.
Brightpearl is a retail management solution that includes inventory management along with accounting, supply management, distribution, analytics and more. Useful for retailers with multiple channels of supply and distribution.
Trade Gecko runs multi-channel inventory and seamlessly manages complex workflows and scalability requirements. It connects easily to Shopify and allows users to manage multi store inventory.Trade Gecko integrates with Quickbooks, Amazon and other tools.
Stock Sinc is a Shopify inventory management, order update app. There is an emphasis on easy inventory update here, with tools like manipulate products’ pricing, sync to multiple vendor’s websites. A good tool for overall Shopify inventory management for small to medium sized retailers.
ABC Inventory If are on a really tight budget and don’t want to spend a dime on any ERP or CRM systems ABC is the solution for you. It is a simple standalone tool for inventory management. It is not a web based solution but needs to be downloaded and installed after which it will turn your computer into an inventory management tool. It performs all basic tasks required for inventory management and is easy to use. It is bereft of any additional features but is perfect to for the needs of new entrepreneurs.