5 Best Inventory Management Software Solutions in 2024

Whether you work in Retail, Manufacturing, or Distribution as long as you are dealing with physical items you will always need to manage, monitor keep track of inventory data and levels. Businesses of different industries use inventory management software solutions to simplify the process and there are a lot of them around.

If you are in the market for one and need help selecting the right inventory management, we are here to assist you with this list of the top 5 inventory management software in 2023.

Odoo Inventory Management Software Solutions

Odoo inventory management system is built using different Odoo inventory modules to create unique software every time that fulfils the needs of different industries.

Odoo software is used widely by retailers, manufacturers, shipping businesses, and more. it is made to suit businesses of different sizes, in terms of management features and costs as well. It does not matter if you are a start-up expanding, or a big company looking for better tools to enhance their inventory management Odoo is for you.

Supports Single & Multi Warehouse

Odoo supports businesses with single storerooms and those with multiple warehouses across the city. When you have multiple warehouses, it is possible to manage inter-transactions between them and monitor stock levels and inventory across different locations. 

Advanced Ordering

Want to ensure you never run out of stocks and get the best prices every time? Just set triggers to send requests for quotations whenever an item runs below a certain level.

Integrations

One of the best things about Odoo inventory management systems is that they can be integrated easily with the apps you need. The integrations can be done with other Odoo apps or other 3rd party apps you need in your business. You can easily link the system with accounting software to facilitate your financial management and enhance accuracy.  

Barcode Scanners

Increase productivity and do tasks faster and more efficiently by using barcode scanners inventory operation. Avoid the manual work and reduce data entry, as all you need is to scan the code. This applies to tasks such as inventories, incoming shipments, packing orders, etc.

Products Management

Create and add different products with customized fields that you need. Monitor them by setting expiration dates and measure the quantities with different units (the system can also convert them for you)

Order Management 

Odoo software allows you to easily track inventory and monitor the status of your orders at any time. You can use tags to find out where orders are and can even use barcode scanners to speed up the process. The change can be immediately updated for all users in real time therefore you will always be on the same page.  

Odoo Inventory Management System Pros

Can be Customized to add extra features needed: Odoo is an open-source software hence, it is possible to craft the inventory software the way you want to meet the exact business management needs you require. 

Excellent Support: When you have an issue with the software, or you need to upgrade the system with new inventory management features the support team will be there to help you. Odoo support can resolve system problems fast ensuring minimal effect on the flow of your business. 

Integrate with different apps and ERP systems: Odoo has a variety of integrations with different apps and ERP systems. These integrations allow you to link your cloud-based inventory management system to the software you use to get data directly instead of adding them manually. 

Suits different industries: With Odoo’s modular system it is possible to build inventory management systems and tailor them to the specific inventory needs of each industry. 

Real-time tracking: With features such as shipping management Odoo offers real-time tracking for orders with details such as location, the date of the delivery, the user who received the order and more.  

Simple and easy to use:

Odoo Inventory Management System Cons

Requires technical expertise to customize: This is not exactly a disadvantage because we in Oakland OdooERP.ae have a team of expert Odoo developers who can help you design and implement inventory management solutions seamlessly.  

Katana — Inventory Management Software for Manufacturers

Katana is a software with inventory management tools designed for the manufacturing industry to help manufacturers manage and control different kinds of items in their warehouses. Whether they are raw materials or finished products, Katana can help you manage inventory.

Katana factory inventory management software Pros

• Suitable for manufacturing needs: Katana software system is designed. 

• Product management with the ability to modify and create variants.

Katana Factory Inventory Management Software Solutions Cons

Can not support other industries efficiently because it does not offer customization features to modify the system to other industry needs. 

Adding users can be expensive: The price of additional users ranges from 19$ to 75$ per month depending on the plan you choose.

Limitations: The plans set limitations on businesses for the number of sales lines per month. This means that businesses have to pay extra to use the system when business is flourishing.   

Upserve – Restaurant Inventory Management

Upserve inventory management is one of the most known restaurant inventory management software. It is a cloud-based system that can be used on multiple systems such as iOS and Android. It was designed to help manage restaurants of different sizes, making inventory control easier for them.

Upserve provides all you need in restaurant inventory management software as a cloud-based POS and inventory tracking solution. It offers numerous excellent inventory capabilities, such as automatic inventory deductions when a menu item is sold, automatic replenishments when inventory is received from suppliers and one-click purchases when inventories are running low. 

Upserve inventory management software can improve inventory planning, automate inventory for restaurants and cafes, and provide real-time visibility into inventory levels. 

Pros of Upserve – Restaurant Inventory Management Software

• Allow managers to track different inventory levels in real-time.

• Suits restaurants and cafes of all sizes

Cons Upserve – Restaurant Inventory Management Software

• Does not have a user-friendly interface and can be hard to use without proper training. 

• Can be challenging for beginners.

• May suffer from trouble using it when the connection is not strong.

Zoho Inventory – Inventory Management Software

Zoho is known for providing business solutions such as inventory management software. It is commonly used for small and medium businesses in various industries especially since it offers a good price.

Inventory and warehouse management software from Zoho is good, yet there are some problems and limitations. Zoho is not quite open-source software, it is not possible to customize Zoho solutions exactly the way you want.

Pros of Zoho solution for inventory Management

• Simple and attractive interface

• Features to facilitate shipping and receiving processes

• Fast inventory tracking

Cons of Zoho Inventory Management software solution

• Limited customization options

Monday.com Management Software Solution

Monday is a popular and famous software that can be used to control and manage your inventory. Using Monday.com can increase your team’s productivity and help you facilitate management. You can easily run your operations and handle your projects with lots of tools.

Monday is free for small teams (up to 2 users), but there will be limitations to the features for the free plan. If you want more features, you have to upgrade to the paid version.

Pros and advantages of Monday.com

• Simple and easy-to-use UI

• Available for different operating systems like Android or iOS 

Cons of Monday.com Inventory Management Software System

• The mobile version needs more optimization.

• It is not designed to be an inventory management system.