Nearly a third of retailers say a lack of visibility over their inventory is the biggest challenge to delivering an exceptional customer experience.
If you don’t control your stock tightly, your supply chain will become tangled. You’ll struggle to understand how much inventory you need, when, and where.
This slows down fulfillment, which results in unhappy customers.
To keep your inventory lifecycle running smoothly, you need top-quality retail inventory management software.
But what should you look for, and how will you know which tool is right for you?
Learn what you need from an inventory management system and discover the top 15 available tools.
What is retail inventory management software?
Retail inventory management software helps businesses manage, track, and control stock, orders, and deliveries.
Its features and analytics help retail providers balance stock levels to prevent stockouts and overstocking and provide insights to optimize inventory planning.
Dynamic tools will help you analyze data from your retail operations to predict demand while offering suggestions on how to improve your workflows to drive efficiency.
Lots of tools include automations to accelerate inventory and order management workflows. This helps businesses synchronize processes across multiple locations while reducing human error.
Businesses of all sizes use inventory software, from small local stores to large international chains. Typically, it’s operated by store managers, inventory clerks, and purchasing departments.
These tools improve the accuracy and efficiency of the inventory lifecycle, cutting back on wastage and preventing missed sales opportunities, driving higher profit margins.
How do you pick the right retail inventory software for your business needs?
The right retail inventory software leads to smoother order and fulfillment operations.
Here’s a few pointers on what to look for in a tool:
Key features
Look for inventory management features to audit stock levels and manage order flows. You want real-time updates and comprehensive reporting so you can monitor inventory trends to make informed decisions that optimize the inventory lifecycle.
It’s also important to have tools that streamline your purchasing and receiving processes. Find platforms that assist you in creating and managing purchase orders while simplifying receiving processes for seamless vendor interaction.
Ensure your software integrates with the various sales channels, whether online or in physical stores. It should be able to manage orders, track fulfillment, and handle returns. Extra points if it automates those processes.
To improve your inventory systems, find tools that use historical sales data and seasonal trends to project future demand. This helps you maintain optimal stock levels to avoid stockouts or overstocking.
For companies operating warehouses, you should consider software supporting location management and efficient pick-and-pack processes. This helps you maintain orders across multiple locations, streamlining fulfillment and delivery.
No matter your business model and size, you should pick software with strong communication features to enhance operational collaboration.
Tools like Lark integrate multilingual collaboration tools to centralize all discussions and documentation. This way, everyone in the chain works off the same page and can access information immediately.
Most importantly, make sure your chosen tool generates detailed reports by analyzing data on sales performance, stock levels, and purchasing patterns. This is crucial for improving your strategic business decisions.
Pricing
Consider how the pricing model works with your budget and future budget projections.
Pricing plans should be scalable so that you can upgrade as you grow rather than migrating to a new tool. Watch out for software that drastically jumps in price.
Check if the feature set matches your needs; otherwise, you’ll be paying for an unfit tool—no matter how cheap it is.
Always look for a free plan or trial to ensure the software meets your needs and integrates correctly with your existing systems.
User-friendliness
Not everyone using the software will be tech-savvy.
The software should be accessible, easy to learn, and quickly onboard.
Look for tools with high-quality training materials, detailed documentation, and good customer support. If you’re using an open-source tool, check if there’s a supportive community offering advice on properly using the software.
Remember, the easier the software is, the faster your business will see value.
Scalability
Find a solution that grows with your business.
It’s not just about scalable pricing. Features and integrations should scale, too.
You may need more advanced features and enterprise integrations as your business evolves. If your tool doesn’t offer advanced functionality, you’ll have to migrate to enterprise software.
Integrations
Find software that integrates well with your existing systems. But remember, integrations aren’t everything.
You might find that a more comprehensive, all-in-one offers strong built-in functionality, which will help you reduce the number of tools you need in the inventory lifecycle.
For example, Lark’s app marketplace offers many tools that reduce the need for external integrations. But, if you need to, its open APIs mean you can build custom integrations if necessary.
The 15 best retail inventory management software available in 2024
Retail inventory management software ranges from demand planning to full, multi-warehouse stock solutions. Plenty of options exist for different business sizes and models, with tools and features to accommodate a range of retail workflows.
Here’s a breakdown of the top 15.
1. Lark: The most versatile solution for your retail inventory management
Lark is an all-in-one operational management platform that empowers retail businesses with powerful inventory management workflows and a full suite of communication tools.
You can build automated workflows to plan, manage, track, and deliver products from multiple sales channels across multiple locations. Thanks to its various dashboard views, intuitive forms, and streamlined approvals, you can significantly improve the visibility and traceability of stock across all locations throughout the supply chain.
Lark’s range of communication tools and automatic notifications keep everyone updated and on the same page about what needs to happen throughout the inventory management process.
It streamlines operational routines, tracks task completion, and provides actionable insights on improving performance across your supply chain.
Want to see it in action? Check out Coconuts&Co use Lark to half its stocktaking time.
Key Features:
Unified workflow creation
Automatic order tracking and inventory calculation
Real-time stock alerts
Intuitive forms that trigger automations
Order and inventory management templates
Gallery view to visualize inventory levels
Seamless data import from Excel
Pros:
Easy to visualize, track, and audit inventory levels
Automated reminders and real-time insights prevent stockouts
Customizable workflows and forms automate inventory management
Cons:
It takes a little time to learn all the features
Integrations include Salesforce, Google Workspace, Wrike, Pancake, Zapier, and Trello. Lark also offers an entire suite of native apps and open APIs for building your own interactions.
Pricing:
Starter: Free for up to 50 users, this plan includes unlimited chats, custom business email, automatic language translation, and 100 GB of storage
Pro: $12 per user per month for up to 500 users, including everything in Starter plus advanced tools and 1 TB of storage
Enterprise: Custom pricing for unlimited users
Free trial:
Lark offers a free trial for its Starter plan without a credit card requirement.
Reviews:
“It has a LOT of apps all in one with a VERY generous free plan-- messenger, wiki, OKR, base, approvals, emails, meetings -- and the AI function available on Lark is also great too. It really cut out a lot of the other software that would be needed.” Clair K
“I love how easy it was to use and how there were many different workflows that were provided for me to use. I also appreciate the end-to-end encryption as well because I use the chat feature as well!” Kruti G
“I love how easy it was to use Lark. It's awesome to use the different templates/tools Lark has developed for us. My favorite part is displaying my data in different ways I never thought of!” Mehak J
2. Cin7: Best for enterprise retail
Cin7 is an advanced enterprise-level system with comprehensive inventory management tools.
It automates and optimizes the entire inventory lifecycle and helps you forecast and calculate future costs.
The system gives you real-time visibility and complete traceability across multiple sales channels and locations, with tools for warehouse inventory transfers and third-party logistics management.
It integrates with over 700 different applications and offers advanced analytics and reporting.
Key features:
Built-in electronic data interchange (EDI) and point of sale (POS)
Order tracking and inventory control
Enterprise-level analytics and insights
Warehouse inventory transfer tools
Pros:
Supports large volumes of orders
Zero-touch automations reduce errors and save time
Connects with over 700 applications
Cons:
It’s very complex and requires extensive training
Not suitable for small businesses
Pricing: Plans start from $349 per month for three users
Free trial: Cin7 offers a 14-day free trial
Integrations include Shopify, Square, QuickBooks, Amazon, and Xero
Reviews: G2 Rating - 4.⅖
3. PartKeepr: Best open-source solution
PartKeepr is an open-source inventory management software. It helps companies maintain clear visibility and control over their stock levels while fulfilling orders and managing order data.
Designed with usability as a priority, it has an excellent search function that sorts, filters, and finds items and orders as quickly as possible.
Super-customizable, users can customize part data in specific ways with unlimited parameters.
Unfortunately, because it’s open-source, the tool doesn’t offer much onboarding materials. You’ll have to rely on the community to help you learn how to use the tool.
Key features:
Inventory control and management
Order fulfillment and management
Accounting software
Product bundling
Data Integration
Pros:
Highly customizable to meet all kinds of business needs
Integrates easily with barcode scanners
Open-source and free-to-use
Cons:
Tech knowledge needed for customization
Support is limited compared to other products
Pricing: It’s free and open-source
Free trial: Not applicable, as it is open-source and free
Integrations aren’t available directly with PartKeepr. But, since it’s open-source, you can customize it to interface with most other tools through CSV import and export.
Reviews: Good Firms rating - 4/5
4. Sortly: Best for small businesses
Sortly is an easy-to-use retail inventory software designed specifically for simplicity.
A strong choice for small businesses, Sortly makes it straightforward to manage physical inventory, including all supplies, materials, tools, and equipment. You can organize your inventory with simple drag-and-drop functionality and track stock movements with one intuitive app.
This digital tool provides real-time tracking and reporting to streamline retail operations and provide insights into bottlenecks.
Key features:
Barcode & QR scanning
Centralized inventory database
Inventory-level dashboards and low-stock alerts
Stock history reporting
Asset tracking
Pros:
Very user-friendly
Real-time automatic data syncing
Straightforward data import and export
Cons:
Basic inventory control with limited advanced options
No demand forecasting or warehouse management features
Pricing: There’s a free limited package, with paid plans starting at $29 a month
Integrations include QuickBooks Online, Slack, Microsoft Teams, and Webhooks
Free trial: Sortly offers a free 14-day trial for all plans
Reviews: G2 Rating - 4.4/5
5. Brightpearl: Best for multilocation inventory management
Brightpearl is a retail inventory management system by Sage. It’s comprehensive, enabling you to manage end-to-end retail operations.
Ideal for managing inventory across multiple locations and channels, Brightpearl works directly with each user to customize a solution that fits your unique workflow.
Bringing together all inventory processes in one centralized platform, Brightpearl helps you automate inventory, orders, and fulfillment. The platform also helps with inventory planning, providing data-driven demand forecasting to help predict the stock levels needed for future sales.
Key features:
Multichannel and multilocation stock management
Automated order management
Advanced warehouse management
Smart forecasting and inventory planning
Retail accounting
Pros:
Scalable solutions for growing businesses
Automated services
Comprehensive reporting and forecasting
Cons:
Complex setup with intensive training
Limited online sales channels
Pricing: Custom pricing only based on business needs
Free trial: Brightpearl offers a free demo
Integrations include Shopify, Amazon, eBay, QuickBooks, Xero, and Magento
Reviews: G2 Rating - 4.5/5
6. Fishbowl: Best for QuickBooks users
Fishbowl is the leading inventory management solution designed to integrate seamlessly with QuickBooks.
It offers robust warehouse management alongside inventory, manufacturing, and shipping management in a single platform. This is especially helpful for tracking and customizing complex manufacturing processes while maintaining inventory accuracy across multiple warehouse locations.
All actions are synchronized with QuickBooks to ensure orderly bookkeeping and that inventory counts match purchase orders and actual orders.
Key features:
Real-time parts, assets, and inventory tracking
Automated purchasing and account reconciliation
Shipping and warehouse management
Manufacturing workflow management
QuickBooks accounting integration
Pros:
End-to-end stock control
Third-party logistics management
Multilocation management on a single interface
Cons:
Basic functions aren’t customizable
Customer service is very slow
Pricing: Fishbowl’s basic package, Fishbowl Drive, starts at $349 per month for two users
Free trial: Fishbowl offers a free demo but no free trial
Integrations include QuickBooks, Salesforce, Xero, Amazon, and Shopify
Reviews: G2 Rating - 4/5
7. Ordoro: Best for platform-agnostic integration
Ordoro is an excellent choice for companies that need a versatile, platform-agnostic solution to inventory management and sales tracking.
Designed for multichannel retailers, Ordoro helps you track and manage orders and stock wherever you take sales — in physical stores and e-commerce businesses.
Ordoro streamlines complex processes by helping you keep track of inventory across multiple warehouses. It also offers features to manage third-party logistics and track supplier lead times.
Its comprehensive reporting offers insights into sales, inventory, and operations to help drive better data-driven decisions.
Key features:
Automated inventory management
Multi-warehouse management
Tools to manage shipping carriers
Sales and operations analytics
Open API for platform-agnostic integration
Pros:
Comprehensive reporting for more informed decisions
Intuitive interface to manage everything in one location
Wide range of integrations and open API
Cons:
High cost for small businesses
Some features require time-consuming manual updates
Pricing: Paid packages start at $349
Free trial: Ordoro offers a 15-day free trial with no credit card required
Integrations include Square, Amazon, eBay, QuickBooks, FedEx, and UPS
Reviews: G2 Rating - 4.8/5
8. Inventory Planner: Best for marketing alignment
Inventory Planner by Sage is a forecasting and planning software. It’s less about managing inventory and more about helping e-commerce merchants understand inventory flows.
Its planning tools help you maximize revenue by predicting future sales, preventing stockouts, and reducing excess stock. This helps you make more informed decisions about your stock operations and marketing campaigns.
Key features:
Advanced forecasting tools
Automated purchasing recommendations
Smart marketing recommendations based on sales trends
Advanced reporting and analytics
Pros:
Data-driven recommendations aid strategic decisions
Aligns marketing with inventory forecasts
Quick support team
Cons:
No stock management, only planning
Limited QuickBooks integration
Pricing: Custom pricing based on business requirements
Free trial: Inventory Planner offers a demo.
Integrations include Shopify, Amazon, BigCommerce, Square, and Magento
Reviews: G2 Rating - 4.4/5
9. InFlow: Best for mobile inventory management
inFlow Inventory is a cloud-based inventory management software focusing on keeping costs low and increasing profit.
Designed for ease of use, its intuitive mobile interface allows you to track stock and manage orders across multiple locations from wherever you are.
It's known for its comprehensive feature set and excellent customer support.
Key features:
Multilocation stock and cost tracking
Pick, pack, and ship orders from any device
Barcode scanner integration
Order management tools
Payment processing
Pros:
Robust mobile functionalities
Comprehensive features for end-to-end management
Excellent customer support
Cons:
Comparatively expensive
Reported glitches with some of the advanced features
Pricing: Premium plans start at $89 per month, 1 location, 1,200 sales orders per year
Small Business Plan: $219/month, unlimited locations, 12,000 sales orders per year
Mid-Size Plan: $439/month, unlimited locations, 60,000 sales orders per year
Enterprise Plan: Custom pricing for up to 120,000 sales orders per year
Free trial: There’s a 14-day free trial
Integrations include Squarespace, Quickbooks, Xero, Shopify, and WooCommerce
Reviews: G2 rating - 4.1/5
10. Zoho Inventory: Best for multichannel order management
Zoho Inventory automates multichannel stock operations to help businesses sell across more channels without inventory friction.
It has extensive inventory control and order management features, with a suite of integrations to streamline sales and fulfillment operations.
It’s best for small to medium-sized businesses with easy-to-use systems that scale well as you add more sales channels.
Key features:
Multichannel inventory control
Warehouse management features
Order management and fulfillment
Vendor relations tools
Smart inventory management recommendations
Pricing: The basic plan starts at $29/ per month for two users, one location, and 500 orders/month.
Free trial: There’s a free 14-day trial.
Integrations include Etsy, Xero, Zoho CRM, PayPal, and FedEx.
Reviews: G2 rating - 4.4/5
11. Peak AI: Best for AI-driven inventory optimization
Peak AI is an AI-driven platform that provides advanced inventory intelligence.
It aims to drive growth, profit, and efficiency with tailored AI recommendations based on each business's unique patterns and needs.
Its AI-powered insights help you make better operational stock management decisions and replenishment calculations.
It’s software to plan inventory but lacks tangible inventory management features.
Key features:
AI-driven inventory optimization
Dynamic inventory management
Optimal reorder and replenishment calculations
AI performance guarantee for inventory management
Comprehensive demand forecasting
Pros:
AI solutions are customized to each business
Simple to set up
Proven to generate cost savings
Cons:
Lacks stock management tools
There’s a learning curve to align recommendations with business goals
Pricing: Custom pricing based on business needs
Free trial: Custom demo available
Integrations include Salesforce, Shopify, MailChimp, Oracle, and HubSpot.
Reviews: G2 rating - 4.4/5
12. Veeqo: Best for free inventory management
Veeqo is a comprehensive free shipping management software designed for e-commerce businesses.
It has powerful automations that help with inventory planning and control and flexible mobile features that assist with order fulfillment.
In addition to stock management, the tool provides in-depth data-driven reports to help you forecast inventory based on projected demand.
Key features:
Inventory control and real-time updates
Mobile device picking and packing
Detailed reports and forecasting
Automated shipping rules
Product bundling and bulk shipping
Pros:
Free to use with no hidden fees
Discounted shipping rates
Easy to sync multiple sales channels
Cons:
Its user interface isn’t very intuitive
The setup process is time-consuming
Pricing: It’s free
Free trial: No free trial is necessary
Integrations include USPS, FedEx, Amazon, eBay, Shopify, and Etsy
Reviews: G2 rating - 4.5/5
13. Netstock: Best for demand planning
Netstock is a demand planning software that helps you make inventory management decisions.
Its tools help balance stock levels, reduce excess inventory, and optimize replenishment.
Netstock integrates seamlessly with enterprise resource planning (ERP) systems to synchronize data for better inventory performance insights.
Built for small-to-medium businesses (SMBs), powerful AI-driven software simplifies inventory control and forecasting decision-making.
Key features:
AI-powered demand forecasting
Inventory optimization tools
Replenishment recommendations
Hassle-free ERP integration
Advanced real-time analytics
Pros:
Enhances inventory accuracy and efficiency
Reduces over- and under-stocking
Easy to use for non-tech teams
Cons:
The reports aren’t customizable enough for complex business models
Its search functionality is limited
Pricing: Custom pricing
Free trial: Custom demo
Integrations include SAP, Oracle, Microsoft Dynamics, Sage, and Fishbowl
Reviews: G2 rating - 4.7/5
14. Unleashed: Best for wholesale inventory management
Unleashed is an inventory management software that focuses on wholesale businesses.
It centralizes and streamlines inventory processes for large-scale orders to improve stock control and connect end-to-end inventory management workflows.
Its tools maintain optimal stock levels, manage multiple warehouses, and track costs while working at volume.
Key features:
Granular inventory tracking
Detailed profit and loss visibility
Multi-warehouse capabilities
Multi-currency payment processing
Forecasting and projections
Pros:
Supports multiple warehouses and currencies
Advanced forecasting and optimization tools
Extensive integrations for a complete tech stack
Cons:
It’s pricey for small businesses
There’s limited search functionality and reporting options
Pricing: Packages start at $345 a month for three users
Free trial: There’s a free trial
Integrations include Xero, QuickBooks, Shopify, WooCommerce, and Amazon
Reviews: G2 rating - 3.9/5
15. Mintsoft: Best for integrations
Mintsoft is a cloud-based order management platform to help you manage inventory, warehousing, and shipping.
Mintsoft automates picking, packing, and shipping processes to improve accuracy and fulfill orders faster.
With over 150 integrations, Mintsoft seamlessly connects with a wide range of courier and e-commerce platforms to boost end-to-end productivity for scaling businesses.
Key features:
Extensive integration library
Automated order processes
Automatic order routing
Multichannel, multilocation inventory tracking
Mobile barcode scanning
Pros:
Extensive integration options
100% pick accuracy with barcode scanning
Automations accelerate inventory workflows
Cons:
Mobile app can be clunky
Self-help resources are outdated
Pricing: Plans start at $200 a month for up to 500 monthly orders
Free trial: There’s a personalized demo
Integrations include DHL, Shopify, WooCommerce, Unleashed, and Wowcher
Reviews: Trustpilot rating - 4.⅘
Build inventory workflows that suit you
Your supply chain is only as strong as its weakest link. Without the right visibility and traceability, you’ll find it tough to understand what’s slowing down fulfillment or causing mistakes in the product lifecycle.
Retail inventory management software helps you track and manage your supply chains, plan stock levels, and spot bottlenecks in the fulfillment process.
This is why choosing a tool that can be tailored to your specific product lifecycle is important.
After all, all retail businesses have their way of receiving and distributing products to their customers. With the wrong software, you might be unable to create fulfillment workflows that suit your product journey.
This is why Lark shines. As a super app, it’s highly customizable, with versatile tools, templates, and workflows to connect your processes and align communications, so nothing’s ever out of stock again.
Common FAQs about retail inventory management software
There are so many retail inventory management tools with different features, so it can be tough to feel like you’re making the right decision.
Here are the answers to some of the most common questions to help bring clarity.
What inventory management software exists for small retailers or manufacturers?
Just because you have a small operation doesn’t mean you have to compromise on quality. There are many inventory tools that cater to SMBs and small manufacturers.
These include:
Partkeepr: It’s an open-source platform, so it’s an ideal budget-friendly solution for small businesses that need customizable, cost-effective software. You can track stock, manage parts, and tailor workflows to your needs.
Sortly: With a user-friendly interface, Sortly helps small businesses onboard with inventory management quickly and easily. It offers features that streamline small business operations, such as QR code scanning and system integration.
Veeqo: Designed for e-commerce and retail businesses, Veeqo has a comprehensive feature set at no cost. Enjoy inventory tracking, order management, and shipping solutions that integrate with multiple sales channels.
What inventory management software solutions work best for online retailers?
Online retailers need flexible solutions to manage stock across multiple platforms and locations.
The tool you choose should be able to handle transfers between warehouses, if necessary, for real-time stock replenishments across all channels.
Here are some of the top options:
Cin7: This robust and scalable tool suits online retailers with broad inventories. It integrates with numerous sales channels and helps businesses manage high stock volumes across various locations.
Lightspeed HQ: Lightspeed combines tools for customer relationship management, inventory management, and sales tracking. It's a great choice for retailers that operate both online and in physical stores.
What inventory management software do retail giants use?
Enterprise retailers require powerful, customizable solutions that scale. If you’re managing vast inventories and complex operations, you’ll need solutions dealing with high volumes in real time.
Here are some popular choices among retail giants:
Cin7: Used is popular among large retailers because it offers an extensive range of inventory and supply chain management features, from sales to fulfillment. It supports complex operations and provides robust security and advanced features for growing companies.
Lightspeed HQ: Lightspeed HQ works well for large retailers. It combines inventory management with point-of-sale (POS) systems. Plus, it features in-depth analytics that helps predict demand at scale.
How can inventory management software help reduce costs?
Inventory management software cuts back costs by streamlining operations while suggesting improvements to optimize inventory processes.
Cost reductions mainly come from:
Fewer data entry mistakes: Automations reduce manual data entry, which cuts down on human error for more accurate inventory counts and fewer discrepancies.
Less manual labor: By automating inventory processes, you reduce the hours needed for manual data entry. This means you need less staff to handle these tasks.
Fewer error corrections: When inventory tracking is more precise, fewer mistakes need to be fixed. Correcting misdeliveries or incorrect orders comes at a cost. With better accuracy, you won’t have to pay to remedy these mistakes.
Faster workflows: Data analysis and smart recommendations streamline your inventory and order workflows for a fast inventory lifecycle. Quicker fulfillment means you can handle more orders at the same time, increasing your capacity to drive sales.
Better inventory management: By optimizing inventory management, you reduce overstocking and understocking. This means you reduce wastage and reduce the costs of storing excess stock. It results in fewer missed sales opportunities because something’s not in stock.
Happier customers: More effective fulfillment systems will result in happier customers, which will increase repeat business and reduce return costs.
Fewer software subscriptions: With all-in-one solutions like Lark, you don’t need many tools to manage the inventory process. Its native apps offer complete functionality, so you only pay one subscription to manage the entire lifecycle.
