5 Best eCommerce Inventory Management Software In 2023

Efficient inventory management is the backbone of any eCommerce business. As the industry expands, so does the need for streamlined inventory options. In this article, you will learn the 5 best eCommerce inventory management software solutions for your online store. 

These tools offer unique features and benefits for online stores of all kinds. Whether you aim for tighter stock control, enhanced customer satisfaction, or improved profitability, I will guide you toward making the perfect choice for your store.

What is Inventory Management Software?

Inventory Management Software is the digital backbone that empowers e-commerce businesses to oversee and control their product stock effectively. It is central for all inventory aspects, from storage to order fulfillment. This software provides real-time insights into stock levels, preventing stockouts or overstocking.

With features like automated reordering, demand forecasting, and barcode scanning, an inventory management system can streamline your entire inventory workflow. You can optimize stock levels, reduce carrying costs, and enhance customer satisfaction. 

Inventory management software ensures that you always have the right products and the right quantities, ultimately boosting operational efficiency and profitability.

What is the Best Inventory Management Software for eCommerce?

1. ShipBob

In the fast-paced world of e-commerce, where timely deliveries reign supreme, ShipBob is your ultimate inventory software. With over 7000 businesses already optimizing their operations, ShipBob’s innovative tools ensure efficient inventory control and seamless order fulfillment. 

As we navigate the dynamic online retail landscape, it’s more crucial than ever to have a robust system in place. E-commerce sales are projected to reach 1.4 trillion in 2027, underscoring the need for streamlined operations. ShipBob steps up to the plate with real-time stock tracking, automatic order syncing, and strategically located fulfillment centers.

Key benefits

2-Day Shipping: In the era of instant gratification, ShipBob offers lightning-fast 2-day shipping to keep your customers smiling and your sales soaring.

WMS (Warehouse Management System): Unleash the power of a sophisticated warehouse management system that optimizes your inventory storage, retrieval, and order processing.

Customization: One size doesn’t fit all. ShipBob lets you tailor your fulfillment strategy to match your brand’s unique needs, ensuring a seamless and on-brand experience for your customers.

Outsourced Fulfillment: Say goodbye to the hassle of packing and shipping orders yourself. ShipBob’s outsourced fulfillment takes care of the nitty-gritty, allowing you to focus on growing your business.

Global Expansion: Ready to conquer new horizons? ShipBob’s worldwide strategic fulfillment centers enable you to expand your reach and cater to an international audience.

Apps & APIs: Seamlessly integrate ShipBob with your existing systems using its user-friendly apps and APIs, creating a cohesive and efficient workflow.

Omnichannel & B2B: Whether selling through your online store, marketplaces, or even B2B channels, ShipBob ensures a consistent, hassle-free fulfillment process across all avenues.

FreightBob: Need to move larger quantities? ShipBob’s FreightBob service handles bulk shipments, making freight logistics a breeze.

Price

ShipBob’s pricing is a reflection of your total fulfillment cost. Contact the sales team to learn more. 

Pros

• Extensive omnichannel order management.

• Easy to set up. 

• Purchase order management.

• Excellent guidance knowledge base. 

• Integrates well with all leading eCommerce solutions.  

• Exceptional customer support service. 

Cons

• Require a steep learning curve. 

• Quite expensive if your store has a lot of order fulfillment. 

2. Katana

When mastering inventory management, Katana emerges as the ultimate game-changer. Seamlessly blending power with simplicity, Katana can transform your business. With its intuitive interface and real-time automation, keeping a pulse on your inventory has never been easier.

What sets Katana apart is its smart auto-booking feature that optimizes order fulfillment, preventing stockouts and overstocking. Plus, its visual dashboard offers an overview of your products and production processes. 

Katana’s scalability and insightful analytics ensure you’re always steps ahead in the inventory game. Elevate your e-commerce journey with Katana, unlock streamlined operations, minimize costs, and amplify customer satisfaction.

Key features

Live Inventory Management: Bid farewell to manual updates. Katana keeps your inventory counts accurate and up-to-date, so you always know what happened to your stocks.

Real-Time Master Planning: Seamlessly forecast demand, adjust production, and stay agile with Katana’s dynamic real-time planning. No more guesswork.

Omnichannel Order Management: Juggling orders from multiple sources? Katana lets you streamline everything under one roof, ensuring smooth sailing across all channels.

Cloud Accounting: Integration with accounting tools? Check. Katana syncs seamlessly, ensuring your financials are as organized as your inventory data.

End-to-End Traceability: Curious about a product’s journey? Katana’s traceability feature lets you track every step, from raw materials to finished goods.

Purchase Order Management: Simplify your purchasing process. Katana helps you stay on top of supplier orders and ensures you have what you need when you need it.

Contract Manufacturing: Collaborating with external manufacturers? Katana streamlines communication and coordination for a harmonious production flow.

Custom Workflows via API: You can integrate Katana into various platforms or apps to ensure a customizable workflow. 

Sales Order Insights: Delve into the nitty-gritty of your sales orders. Katana’s insights offer valuable data to fine-tune your operations and keep customers happy.

Price

The inventory management software solution offers 4 different pricing options, along with a 14-day free trial:

• Essential: $129/month for the monthly subscription or $99/month for the annual subscription. 

• Advanced: $349/month for the monthly subscription or $299/month for the annual subscription.  

• Professional: $799/month for the monthly subscription or $599/month for the annual subscription.  

• Enterprise: A custom plan. Contact the sales team to learn more. 

Pros

• Great for streamlining invoicing, inventory, and production.

• Great investment. You get more value than what you paid for. 

• Easy to use. 

• Comprehensive knowledge base for beginners. 

Cons

• Hard to organize orders.

3. SkuVault

SkuVault is the ultimate inventory management software that provides the necessary precision and efficiency. Seamlessly orchestrating your products, orders, and operations, SkuVault stands as a reliable pillar of support.

SkuVault’s intuitive interface and comprehensive features bring life to your inventory control, enabling real-time tracking, order synchronization, and intelligent demand forecasting. 

From startups seeking to streamline their stock to established giants aiming for operational excellence, SkuVault proves to be the compass guiding e-commerce ventures toward success.

Key features

Order Routing and Inventory Location: Seamlessly navigate your warehouse with precision. SkuVault’s order routing and inventory location tools ensure products easily find their rightful place.

Purchase Order Management: Streamline the purchasing process effortlessly. SkuVault empowers you to efficiently manage supplier orders, keeping your inventory stocked and ready.

Pick Lists: Wave Picking and Hyper Picking take center stage, banishing errors and speeding up operations. These smart pick lists guide your team, ensuring every item is accounted for swiftly and accurately.

Buffer Management: Elevate your inventory control game. SkuVault’s buffer management feature lets you create a sense of urgency, preventing overselling by controlling quantity levels effectively.

Price

The price of the software depends on the order fulfillment you need. It starts with $449/month for 2000 orders, then $849/month for 2001 – 5000 orders, and $1349/month for 5001 to 10000 orders. With more than 10000 orders, you can contact the sales team to learn more about custom prices. 

Pros

• Requires multiple checks, which increases accuracy. 

• Inventory tracking from multiple locations in one place. 

• Amazing customer support.

Cons

• Cycle counting needs improvements. 

• No control over who accesses what portions of the inventory. 

4. Zoho Inventory

If you want precise inventory control, Zoho Inventory is your ultimate solution. Zoho Inventory is a free inventory management software that will revolutionize how businesses handle their stock in 2023.

From real-time monitoring to seamless order processing, this software helps you streamline operations, trim expenses, and enhance the customer journey. Zoho provides many standout features, helping you achieve your e-commerce ventures with the tools to excel in today’s digital landscape.

Key features

Item Management: Take control of your inventory like a pro. Zoho Inventory lets you effortlessly organize, categorize, and track inventory.

Customer Lifecycle: Elevate your customer experience from start to finish. Zoho Inventory helps you manage orders, track shipments, and keep your customers updated every step of the way.

Vendor Relations: Strengthen your supplier partnerships. Zoho Inventory empowers you to manage vendor information, reorders, and communication, fostering seamless collaboration.

Integrations: Seamlessly connect the dots. Zoho Inventory integrates with other tools you rely on, creating a cohesive workflow that saves you time and effort.

Automation: Bid farewell to manual tasks. Zoho Inventory’s automation features handle routine processes, from barcode scanning to email customization, giving you room to focus on what truly matters.

Smart Features: Experience the brilliance of smart technology. Zoho Inventory’s intelligent reporting and analytics help you make informed decisions, optimize stock levels and anticipate customer needs.

Price

The platform offers 6 pricing options: 

• Free: A free forever plan. 

• Standard: $79 per organization /month for the monthly subscription or $59 per organization/month for the annual subscription. 

• Professional: $129 per organization /month for the monthly subscription or $99 per organization/month for the annual subscription. 

• Premium: $199 per organization /month for the monthly subscription or $159 per organization/month for the annual subscription. 

• Elite: $299 per organization /month for the monthly subscription or $239 per organization/month for the annual subscription. 

• Ultimate: $399 per organization /month for the monthly subscription or $329 per organization/month for the annual subscription.  

Pros

• Comprehensive features for inventory management. 

• Support various integrations, including a powerful CRM.

• Intuitive interface.

• Works well with Amazon, eBay, and Shopify accounts.

Cons

• Per-user subscription plans. 

• Limited knowledge base and tutorials. 

5. Sage X3

With a potent array of tools and a user-friendly interface, Sage X3 promises to redefine your inventory management journey.

With over 4000 businesses optimizing their operations through Sage X3, the software can take any eCommerce business to the next level. 

Sage X3 delivers real-time tracking and seamless order processing, empowering businesses of all scales to elevate efficiency, curtail expenses, and amplify customer gratification. 

Sage X3 is an inventory management solution that guides your eCommerce business toward unparalleled efficiency and operational prowess.

Key features

Purchasing: Say goodbye to purchasing hassles. With Sage X3’s supply chain management, you can seamlessly manage the entire purchasing process. It all starts with handling requests for quotes (RFQs), tracking responses, and smoothly integrating them into your price list base.

Inventory Management: Be the master of your inventory. With real-time inventory monitoring, Sage X3 keeps you in the loop, ensuring you’re always on top of demand, supply, and optimal efficiency.

Sales Management: Elevate your customer experience while boosting your top-line performance. Sage X3 grants you swift access to crucial product info, pricing details, discounts, and shipping options from multiple sales channels, helping you provide the best for your customers.

Customer Service: Delight your customers with impeccable service. Sage X3’s integration across sales, inventory, purchasing, finance, and manufacturing provides a holistic view of customer activity within a single business management solution.

Price

The software offers a custom plan for each business. Contact the sales team to learn more!

Pros

• Intuitive user interface. 

• Easy import and export of data. 

• Easy to manage. 

Cons

• Some error messages are in French. 

• Quite difficult to customize reports. 

Conclusion

In the fast-paced world of e-commerce, where every order and every customer interaction matter, the right inventory management software can make all the difference. As we explore the top 5 inventory management tools for 2023, one thing becomes clear: they are more than just digital assistants; they are the heartbeat of efficient operations and customer satisfaction.

Whether it’s the streamlined precision of ShipBob, the orchestration prowess of Katana, the comprehensive capabilities of Zoho Inventory, the operational mastery of SkuVault, or the transformative potential of Sage X3, each software brings a unique character to the inventory management game. 

In this era of digital commerce, where competition is fierce, and demands are high, the right choice among these stellar options can unlock growth, elevate your brand, and keep your customers smiling. Embrace the power of technology, and let your e-commerce journey flourish with the best inventory management software by your side.

FAQs

How do you manage inventory in eCommerce?

Discover the art of eCommerce inventory management with these 9 key steps:

• Tech-Powered Tracking: Leverage popular inventory management software for real-time stock levels and order history insights.

• Picture-Perfect Listings: Craft accurate, detailed product listings with high-quality images and comprehensive descriptions.

• Crystal Ball Forecasting: Predict demand by analyzing historical data and market trends to balance supply and demand.

• Supplier Synergy: Build strong supplier relationships for seamless reordering and a steady supply chain.

• Effortless Order Fulfillment: Streamline the order process from picking and packing to shipping, ensuring timely deliveries.

• Returns Redefined: Develop a clear returns policy and manage returns efficiently, restocking products if feasible.

• Sales Symphony: Monitor sales patterns and inventory turnover rates, adapting strategies for optimal stock levels.

• Tech Tango: Integrate inventory management with accounting software and sales platforms for a harmonious workflow that maximizes efficiency.

What is the 80-20 rule in inventory?

Ever heard of the 80/20 rule or the Pareto Principle? It’s a clever concept that tells us 80% of our results come from just 20% of our actions. In inventory management, 20% of your products will likely bring in a whopping 80% of your profits. So, it’s all about spotting those key items that make the biggest impact and giving them the attention they deserve. By focusing on the 20%, you can maximize your efficiency and keep your business thriving.

Which type of inventory system do most businesses use?

There are 4 types of inventory systems that most businesses use: 

• Periodic inventory management.

• Perpetual inventory management.

• Barcode inventory system.

• Radiofrequency identification (RFID) systems.

Featured Image Source: Image by jcomp on Freepik.