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- Features Guide
- Pricing Guide
- FAQs
- Tips & Tools
- Popular Inventory Management Software Comparisons
A List of Common Inventory Management Solution Features/
Specifying item attributes in Acctivate Inventory Management
Top-Requested Features
At Software Advice, we've helped thousands of buyers find the right software for their business. We've analyzed those interactions to determine the top-requested features by Inventory Management buyers, presented here: Inventory Management Buyers' Top-Requested Features
The Inventory Management Solution Features You Really Need
Processing a purchase order in Fishbowl Inventory
How Inventory Management Software Is Priced
Typically, inventory software is priced according to a number of factors. There are different pricing tiers for businesses of varying size, based on: 1. Number of users 2. Number of locations and sales channels (multi-channel inventory) 3. Number of SKUs/products 4. Number of orders processed per month 5. Number of devices (e.g., client PC, barcode scanner, mobile app and mobile device) In addition, whether the software is hosted online or on-premise can make a difference in up-front versus r...
What Businesses Typically Budget for Inventory Management Software
We looked at a sample of buyer interactions to compare how much businesses are willing to budget either for monthly fees for cloud platforms or upfront, one-time fees for on-premise platforms. We've broken this data down by business size in terms of number of licensed users, since licensed users is one of the primary factors affecting pricing for systems: Typical Inventory Management Software Budget
Hidden Costs to Look Out for
1. Hardware.Many businesses will need barcode scanners and printers, and retailers may also need hardware point of sale (POS) terminals. 2. Accounting integrations.Some vendors price their solutions based on how many accounting systems the inventory system integrates with. 3. End-to-end lot/serial number tracking.Businesses that need full traceability throughout the supply chain will need a full-blown ERP system, which is much pricier than a scaled-down system.
What Are the Key Functions of Inventory Management Software?
1. Dynamic inventory.With inventory control software, stock levels are updated in real time as you receive purchase orders and process sales orders. A good inventory management tool will support more advanced inventory management techniques no matter the sales channel or complexity of inventory levels and asset types. 2. Elimination of manual processes.Barcode scanning speeds up tedious processes such as stock takes/inventory counts. Support for mobile devices and the availability of a mobile...
What Questions Should I Ask Vendors When Evaluating an Inventory Management Solution?
1. Do you integrate with my accounting software?Inventory management vendors typically support a range of accounting integrations out of the box, but they might not integrate with your particular system, or they might charge extra for the integration. If you're using QuickBooks, you should evaluate the many vendors that specialize in QuickBooks integrations. 2. How many active clients do you have in my particular industry vertical?Different industries track different things (e.g., color, size...
What Are Some Drawbacks I Should Watch Out For?
There are no real drawbacks to using inventory management systems, but there are drawbacks to choosing the wrong vendor for your business. 1. Only ERP systems offer lot traceability.Lot traceability requires the using a lot number as an item attribute for inventory tracking in all of the supply chain/accounting software a business uses. Realistically, businesses should consider an integrated ERP software solution for lot tracking. 2. Crucial functionality for certain industries is missing fro...
Build a Business Case for New Software
Here are three major ROI drivers for inventory management software: 1. Improved inventory tracking and accuracy.Periodic inventory systems based on spreadsheets are inefficient and prone to human error. Once businesses hit a certain size, they can realize major cost savings simply by improving accuracy. 2. Synchronized inventory.By synchronizing inventory levels across multiple physical stores and e-commerce channels, you can avoid stock-outs and satisfy customers. 3. Automation of manual pro...
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