7 Best Ecommerce Inventory Management Software + Insights from 10 Industry Leaders
The success of an ecommerce business depends on strong management. Operational workflows across inventory, marketing, fulfillment, and reverse logistics require constant monitoring. While each business is unique, the goal is the same: to perpetually balance demand (orders) with supply (inventory). At first, it may seem manageable to stick with spreadsheets and templates. As a brand grows, it's impossible to manage everything without powerful software. In this article, we're highlighting seven powerful inventory solutions that will help your business achieve scalable, multichannel growth.
Ecommerce inventory management software is designed to automate repetitive tasks and reduce human labor requirements. Automation helps business owners efficiently manage the inflow of paperwork, work orders, and stock movement while reducing the need for extra manpower. You will always need skilled employees, but inventory management software allows them to focus on high-value tasks. They will spend less time counting stock, and more time building strong customer experiences.
Inventory management software also increases profitability. It seamlessly tracks inventory levels, fifo, bundling, kitting, bill of materials, reorder points and more. It leverages your data to avoid overselling, and prevent low stock or stock-out events. With inventory management software, you can oversee a product’s lifecycle, increase your margins, and elevate customer service in one fell swoop.
Table of Contents:
Best Multichannel Inventory Management Solution
Best Inventory Barcoding Solution
Best Inventory Analytics Solution
Best Inventory Forecasting Solution
Best In-House Inventory Fulfillment Solution
Best Listings Management and Inventory Repricing Solution
Best Warehouse Dropshipping Solution
Benefits of Inventory Management Software
7 best inventory management software solutions
The best inventory management software will make scalable growth possible. Before implementing any inventory management software or app, consider your business needs, as well as the elements that will help you reach your goals in both the short and long-term.
The following inventory management solutions each offer their own unique features and functionality. There are even some free inventory tools to help you get started. Remember, an inventory management system is critical for multichannel success. Make sure whatever system you choose integrates with the channels you plan to sell on. Otherwise, you'll get stuck with costly integrations and customizations that will quickly drain any profit gained from the system.
1. Best solution for multichannel inventory management: Skubana
Multichannel selling opens up additional revenue streams and maximizes your profitability. It allows you to offset channel disruptions and gives you a broader net to capture new customers. Despite the benefits, it can quickly become overwhelming if not executed efficiently. Fortunately, that’s where Skubana comes in.
Skubana’s multichannel inventory management tools support multi-warehouse, multi-fulfillment workflows. Skubana unifies and synchronizes retail data from online sales channels with inventory data from across your network of warehouses and fulfillment centers. Skubana then adds a layer of automation to unlock exponential growth. It uses automation to seamlessly transfer inventory, send alerts, and issue purchase orders when stock levels run low. It even allows you to set levels of available stock on each of your sales channels to drive artificial scarcity. Build, optimize, and breakdown bundles and kits into core components, monitor profitability on a SKU-by-SKU basis and much more. In other words, your sales, inventory, and analytics are all unified and programmed within a single dashboard, removing the need for error-prone manual entry and periodic data transfers.
With Skubana’s superior functionality, open source API, and robust App Store, you can improve your supply chain management across every sales channel and warehouse. This means faster order fulfillment, fewer sell-outs, and no more lost sales due to backorders or shipping delays. Business owners who utilize Skubana’s inventory management solution benefit from real-time data and analytics across their entire product lifecycle. This ultimately translates to reliability, efficiency and more time to focus on building your brand on even more channels.
2. Best solution for inventory barcoding: Scout
Scout offers cloud-based barcoding solutions for ecommerce businesses struggling to secure visibility and validation on orders going out the door. Its topShelf software enables warehouse managers to print detailed barcode and tracking information for complete inventory control. Manage assets, bins, or SKU numbers for multiple warehouse locations and have all of that data seamlessly sync with your inventory management system.
Scout’s convenient topShelf inventory management software, allows you to set up on-premise barcoding at all of your fulfillment locations. The topShelf system gives you the ability to manage your entire product catalog, generate barcode labels for specific products, and print directly from a smartphone or tablet wherever you are, whenever you like. Scout also supports add-ons like managing all of your warehouse locations (all at the same time) through your mobile device and delivering real-time inventory updates and alerts on potential problems before they occur.
3. Best solution for inventory analytics: Daasity
Daasity helps merchants unlock data and insights essential to the growth and optimization of their business. Their software offers inventory data analytics designed for non-technical users, meaning it’s easy to understand and translate into real results. With Daasity, your online store can move beyond basic reporting, and utilize holistic sales data broken down into individual channels and fulfillment methods.
The Daasity platform empowers retailers to maximize their profits by cutting costs and driving revenue through omnichannel analysis for a more informed decision-making. This fast and flexible solution gives you a clear view into inventory performance across all channels and data sources. It can also be customized to meet the specific needs or requirements of your business or specialization. It is the perfect data solution for small, midsize and high-growth ecommerce businesses looking for a data partner that can integrate with their existing systems.
4. Best solution for inventory forecasting: Inventory Planner
As a leader in online inventory forecasting, Inventory Planner is equipped with automatic replenishment recommendations to simplify the reordering process. Using unified sales and inventory data, it can compute sales forecasts for thousands of products in just minutes. Inventory Planner also identifies trends and provides powerful reports showing what’s going on with your business, so you can invest your time and capital in the right places.
Inventory Planner saves valuable time on purchasing by sending purchase orders straight to suppliers based on velocity, lead time and other sales metrics. It also keeps track of outstanding orders, expected arrival dates, and received inventory items. When it comes to optimizing your cash flow, you can view all of your sales trends and inventory needs in one place, making it easy to control what products need to be replenished at each warehouse, across every unique sales channel.
5. Best solution for in-house inventory fulfillment: Barcoders QuickShip
Online merchants who have a number of in-house inventory fulfillment needs will find a friend in Barcoders QuickShip. This software can easily integrate scanners, scales, and label printers into an existing inventory management system setup, thus facilitating more effective workflows for time-consuming and commonly-repeated tasks (like weighing packages or printing labels).
QuickShip allows users to quickly enter weights and dimensions required by certain carriers. With their flexible integrations into inventory management systems like Skubana the only hardware you need is a reliable barcode scanner (or your mobile phone). Although the weighing process still happens at a computer, the need for a keyboard or mouse is now eliminated; this enhanced efficiency allows one employee to enter weights for hundreds of orders an hour.
Additionally, with QuickShip installed, shipping labels and packing slips can be printed instantly. This eliminates the monotony of having to open, print, and close a PDF file from a web browser everytime a package needs to go out the door — it really doesn’t get much easier than that.
6. Best solution for listings management and inventory repricing: StoreAutomator
StoreAutomator’s mission is to help merchants boost sales and get the best out of their channels. This platform lets you create product listings from scratch, enjoy flexible selling for inventory with multiple SKUs or listings, implement an inventory control system with catalog management, and adapt to various marketplaces through data templates and retail-specific field mapping.
With StoreAutomater, you’ll be able to sell your products to customers around the world using their sophisticated listing features and seamless inventory management integrations. What this means is, you can leverage this solution to create product listings on Amazon, eBay, Walmart, Shopify, Google Express, and much more all of which can contribute to significant growth and customer acquisition.
7. Best solution for Warehouse Dropshipping: Inventory Source
If you’re a retail business in need of dropshipping automation and an integrated supplier network, you’ll likely benefit from incorporating Inventory Source into your daily operations. When using this software, you can automatically upload products, sync inventory items, and route orders with dropship suppliers to nearly any ecommerce channel.
More specifically, you can integrate your supplier’s inventory to instantly upload product data and connect inventory quantities with over 25 different online stores, marketplaces, and multichannel management platforms. And since the Inventory Source app gives you mobile access to a handy user interface and reliable integrations, you’ll start seeing results in no time - wherever you are.
10 benefits of inventory management software according to industry leaders
1. Save time on processes and management
Ecommerce inventory management software is incredibly valuable for saving time and money, especially with tools like automation, barcode scanning, analytics, and automatic reorder points. Simply put, inventory management software helps you control your inventory and gives you more time to grow your brand and fulfill customer orders. Legacy enterprise resource planning tools are unable to support the multichannel needs of modern ecommerce businesses and implementation is time-consuming. Ecommerce expert David Romese weighs in:
"We are an ecommerce company that sells across four platforms — Shopify, Amazon, Walmart, and eBay. Before we got Skubana, I was going back and forth between these platforms to make sure everything was running smoothly, orders were importing correctly, and that tracking updated with accurate inventory counts. We also use a 3PL for fulfillment, and Skubana has eliminated the need to ‘babysit’ those channels.
Another wonderful feature I utilize with Skubana is automatic PO generation; now, there’s no more plugging numbers into Excel spreadsheets to see when I need to reorder. Skubana takes a set period of previous sales and factors in current inventory, lead time, and minimum order quantities to auto-generate POs when needed.
Skubana’s software has saved me 10+ hours per week, and is honestly like the assistant I never had.”
- David Romese, Operations Manager at Truth Company
2. Achieve inventory accountability
Inventory accountability means knowing exactly where your inventory is located, when it will sell out when it will lose value, and so on. This knowledge is crucial to achieving long-term profitability and growth. With proper inventory and supply chain management you can ensure you’re investing in the right areas, moving products quickly, pricing appropriately, monitoring FIFO (first in and first out) and accounting for every item in your inventory, at all times.
One of the most important features of inventory management software is to support barcoding and RFID tags, serial number tracking, asset tracking, customization workarounds, and automatic purchasing.
"As a jewelry company, we need to take special care of inventory tracking and management. We have plenty of moving pieces — some no larger than a pair of earrings — that must be accounted for at all times. Skubana helps ensure we always know where our inventory is, which pieces sell the best across multiple channels, and when it's time to reorder so that we never run out of stock."
- Zeke Araki, Co-Founder, Pavoi
3. Simplify management
Achieving efficient management without a significant investment of time can be difficult, especially if you're a small business that doesn't have the resources to hire a full-time ecommerce manager. Inventory management software helps bridge this gap between your suppliers, wholesalers, and end-consumers by keeping data in order, using analytics and algorithms to perform calculations, and automatically generate paperwork to reduce time-consuming activities.
"Skubana has key features that allow us to run our business without worrying about all the little details that normally bog down ecommerce stores with multiple warehouses and sales channels. The forecasting tool for our warehouse is a great asset, and works just as well as competitive tools. Our favorite feature is the automatic PO generation, because it saves us hours every week." - Cleaner Filters
4. Automate your orders and shipments
Automation enables you to reduce human error, minimize costs, and cut down on the hours spent handling inventory. Once implemented, inventory automation can flag products that aren't selling, track pricing and profitability, activate inventory reorder alerts, and update accounting records in real-time.
PRO TIP: Skubana’s Orderbots are powered by your real-time, multichannel data. With Orderbots, you can leverage ‘if-this-then-that’ logic to complete endless inventory and fulfillment tasks, like filtering orders by point of sale or requesting confirmation from a distributor.
Sam Shackleton of Cross Path Capital suggests ecommerce automation (from a system designed for ecommerce platforms) is the key to scaling your online business.
"If you’re serious about growing your ecommerce business, you need an automated system to manage inventory and link all of your sales channels in one central location. Skubana solved all of this for us, and then some. Designed specifically for ecommerce businesses, Skubana’s software has all the necessary tools other system’s may lack (if they were designed for general business applications outside of the ecommerce realm). Skubana is exactly what we needed to automate repetitive, non-revenue generating tasks, and to free up more time to focus on scaling our business."
- Sam Shackleton, Co-Founder, Cross Path Capital
5. Integrate across multiple channels
"We sell through Shopify, Amazon, Walmart, and eBay. Before we got Skubana, I was spending hours a day bouncing back and forth between these platforms, making sure orders were importing correctly, stock levels were current, and tracking information was uploaded for each order. Skubana easily integrated all four selling channels along with our 3PL, which has saved me 10+ hours each week."
- David Romese, Operations Manager at Truth Company
Other sellers agree that knowing where and how you’re making sales is crucial to your brand’s multichannel success.
"For me, the biggest advantage with Skubana was the orderbots. This feature lets you customize and automate your order process depending on a number of variables. For example, you can customize which warehouse the product comes from, what sales channel the order comes through, and what label the will order have."
- Kevin Aserraf, 4Wheelife
6. Supercharge your business growth
Automating processes, controlling your inventory, and improving the efficiency of your inventory management all fuel growth. By streamlining your processes, you can effectively keep up with demand and order processing without investing capital you don't have quite yet.
"We switched from QuickBooks Enterprise to Skubana about four months ago to streamline our processes and maximize efficiency. Our business model is based on dropshipping from multiple manufacturers, and we have sales orders coming in from multiple channels and marketplaces, as well. Skubana allowed us to automate connections to suppliers and selling channels, saving us a ton of time.
Switching to Skubana was a great move for our business, as there’s no way we could've kept up with the growth we’re experiencing without their team."
- Alla Brekhman, Chief Operating Manager, Onfloor Technologies
7. Get oversight and control over your inventory and warehouse
Inventory software boosts asset management and helps you maintain control over your stock levels and warehouse locations. Without knowing what you have, where it is, and whether it's costing or making you money, you can't make informed decisions to spur growth.
Good software provides a clear picture of your inventory (and more), by providing precise information, identifying best sellers, tracking warehousing and storage costs, and showing you which inventory to cut.
What’s more, management software helps scaling businesses prevent overselling, which can dramatically damage your reputation at a time when customer trust hinges on good reviews.
"The most important thing to my line of work is to avoid overselling any items. It’s disastrous when you have to tell a customer they're not able to purchase a collectable item they paid for, let alone the time it takes away from customer service to remedy the situation. Every time an item is oversold, you have the potential to lose a customer, so we're glad to have that situation under control.
With Skubana, we've been able to really manage inventory that’s handled by our 3PL — no overselling, educated liquidations, and bulletproof ordering process."
- Dustin Alexander, Logistics Manager, Death Wish Coffee Company
8. Enjoy all-in-one solutions
When you find an all-in-one solution to meet multiple business needs — like order processing and shipping, in addition to inventory management — it can help reduce total costs and shrink your time investment. While all-in-one systems are not always the best option, they’re often the most straightforward and cost-effective choice for large, midsize and small businesses alike.
"We’ve been using Skubana for about a year now, and it’s really fixed our inventory issues. And the best part? The staff. Emily walked us through onboarding at every step of the way, and she’s still available to jump on a call or respond to our questions. We have about 30,000 SKUs in our own warehouse and on Amazon, which is why we needed a software that worked well with both.
We tried five different programs before Skubana, so we did our homework. We also used different shipping programs in the past, but Skubana eliminates the need for those, and works really well as an all-in-one system. The bottom line is, if you’re looking for an all-in-one solution to keep track of your inventory on all platforms, help issue POs, and assist with shipping tasks, don't look any further than Skubana." - Philip Baron, Founder, Masontops
9. Grow revenue with better inventory management
Improving your inventory management allows you to increase revenue and sales, because you know which products are selling and which are not. Over time, this enables you to make calculated decisions to increase the visibility of high-selling products, to improve marketing for low-selling ones, and to liquidate those that are costing you money. And, by automating order processing and inventory updates, you can expand your ability to handle changing sales volumes without overwhelming staff.
"This is a game-changing SaaS that helped automate our business. We’d tried all the software on the market, and Skubana is by far the best. With Skubana, we increased multiple marketplace sales by over 50%."
Kris Carlson, Nautical Brands
10. Do good business
Good business management means reducing costs, increasing efficiency, and providing better service to your customers. Inventory management software makes this possible by giving you the tools you need to handle more orders, process orders quickly, offer quality service, and track inventory costs on all active items.
"Our inventory management and analytics have greatly improved since we've been using Skubana. Not only is our inventory control better, but our ability to scale has also increased dramatically since we can now fulfill more orders and sell more products.
The idea of an affordable, all-in-one tool seemed too good to be true, but we found that this software really works. We've been able to increase our business by over 30% without adding any overhead other than Skubana. Additionally, through the use of inventory reports, we are able to see which SKUs we need to liquidate and which we need to place greater emphasis on."
- David Wolfe, President, Merchandise Mecca
While the benefits of ecommerce software depend on your business needs and current challenges, successful ecommerce business owners agree the right software positively affects your ability to scale and control your earnings with confidence and ease.
Skubana is an all-in-one ecommerce management tool, offering modern ERP, advanced inventory and order management, warehouse management, and automation in a streamlined, user-friendly package. Partnering with Skubana is the best way to track inventory, add new sales channels, automate every step of the supply chain process, and strengthen your operations and relationships during any stage of growth.
Moreover, Skubana can integrate with your favorite sales channels, CRMs, 3PLs, invoicing, or accounting software to really help you run your business from end-to-end.
Schedule a demo today to see how Skubana works and decide if it's a good fit for your store!
Frequently Asked Questions
What is the best inventory management software?
The best inventory management software are multichannel operations platforms like Skubana that support multiple fulfillment workflows and warehouses, allowing you to synchronize inventory management across platforms and automate repetitive tasks to keep fulfillment on autopilot.
What are the benefits of inventory management software?
Inventory management software simplifies fulfillment by consolidating management of your inventory across all channels into a single dashboard. You can set reorder points, automate PO creation, and harness many other features to streamline your supply chain. The efficiency gained from inventory management software results in less cash tied up in inventory and more working capital for your business, all while seamlessly ensuring you have enough product on hand.
What are some features to look for with inventory management software?
Some features to look for with inventory management software include multichannel support, cross-channel data reporting & analytics, inventory forecasting, automated PO creation, and support for product bundles and kits.
Chad Rubin is the co-founder and chief executive officer of Skubana, a multichannel e-commerce software the enables brands to unlock growth by unifying their back-office operations.