10 Best Retail Inventory Management Software (Most Reliable in 2024)

Retail inventory management software, at its foundational sense, assists users in keeping an exact tally of inventory balances. Sorting items by department or kind, setting minimum quantity thresholds, and receiving alerts when stock levels approach those thresholds are all key functions.

A structure for monitoring products by density, texture, and appearance, accessible to acquire packages or implementation with acquiring components to allow automatic generation of sales invoices approvals are some of the more additional features of more innovative platforms of retail inventory management.

Top 10 Best Retail Inventory Management Softwares

Square Point of Sale – Best POS Software
Shopify – Best Mobile Pos Software For E-commerce
Booker – Best internet ticketing software
Mindbody – Excellent for Reservations
Lightspeed Retail – Best for monitoring stock
Fishbowl – Best industrial & warehousing management software
NetSuite – SAAS management software with the best flexibility
Odoo – Best POS Software for startups
Cin7 – Excellent for managing online retail
uAttend – Best for Keeping Track of Records

1. Square Point of Sale – Best POS Software

Best Retail Inventory Management Software

Pricing: starting from $0.01 plus free trial

Square Point of Sale is a portable point-of-sale software that works on both iOS and Android devices. Internet transaction processors, transaction statistics, product management, electronic invoices, Square promotional initiatives, eCommerce, insights/analytics, and many are just a few of the features available in the Square Point of Sale software. Likewise in the Square Website and Square application, organizations could effectively control e-gift card purchases. Third-party delivery services from Careem, FedEx, Chowly, and other services can be managed with the eatery Card machine. Credit cards, Google Wallets, and Mobile Wallets can all be accepted with Square Point of Sale. This Point of Sale solution works offline as well and can approve swiped credit prepaid debit payouts while the internet provider is currently offline.

Pros	Cons
When a user does not have money, we can use the application to accept debit cards for any amount.	The processing fees are comparable to those charged by other services like PayPal, yet they are nonetheless exorbitant and eat into revenues.
For a startup firm, Square offers software that is both powerful and extremely cheap.	Changing from a Point-of-sale provider that necessitates a significant amount of upfront infrastructure and training
Very straightforward and user-friendly	–
Great customer support services	–

2. Shopify – Best Mobile POS Software for E-Commerce

Best Retail Inventory Management Softwares

Pricing: starting from $29 per month.

Shopify is an internet e-commerce software with a mobile point-of-sale feature. Customers may run their businesses and make deals in-store, including at marketplaces, pop-ups, and commercial exhibitions, using the mobile point-of-sale. Sellers can use the e-commerce platforms to promote in-store and communicate with their users via mobile and social platforms. Shopify’s mobile point-of-sale has stock control functionalities that can link up with an e-commerce retailer, allowing customers to see real-time inventory for both resources.

Its transaction entry point functionality, which is supported by 70+ payment methods, is used to manage payments. Being one of its sales features, Shopify offers Search engine rankings, online advertising, social media linkage, and a voucher. Once supplies run out, the stock count may be monitored in the actual moment, and commodities can be delisted.

Pros	Cons
The software’s user experience is extremely attractive.	There are numerous updates, which can be perplexing.
If you want to be a part of the Direct 2 Consumer frenzy, Shopify is the place to be.	Shopify is difficult to understand, and you may not realize there is a fault with your marketplace until money has been lost as a result of it.
If you need anything that isn’t natively available, like pop-ups, benefits programs, or wholesale rates, provide every feature you may think of.	–

3. Booker – Best Internet Ticketing Software

Pricing: starting from $129 per month.

Booker is an internet ticketing software that gives enterprises in the beauty and healthcare trade, such as fitness centers and barbershops, tools to handle reservations, invoicing, client relations, and advertising campaigns. A configured planner, social network booking, embedded point of sale capabilities, digital branding, consumer surveys, and other features are among the highlights. Booker supports credit card transactions, gift vouchers, e-commerce, and mobile banking.

Customer relationship management features, personnel booking services, a business intelligence interface, stock control, user affinity schemes, and a monitoring system are all available through Booker. The system also includes mobile functionality for wireless connectivity. Assistance is provided through telephone, mail, and other internet sources and is available on a monthly payment plan.

Pros	Cons
Booker is fantastic because it allows me to keep track of my books even while I’m not at home.	Users with incorrect service and product histories that will never be repaired
Booker has a reasonable booking component that instructed workers and customers of meetings	Customer service skills are lacking.
As a result of its ease of use, it is simple to train.	–

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4. Mindbody – Excellent for Reservations

Pricing: starting from $129 per month.

Mindbody is an internet lounge administration and reservation booking system for medium and intermediate enterprises. Workout centers, gym and yoga classes centers, hairdressers, spas and pedicure institutes, wellness centers, dancing schools, and fitness centers are just a few of the places where the product is utilized. Mindbody has functionalities including waitlist management, Facebook appointment scheduling, computerized email and SMS booking, and internet reservations.

Mindbody also includes a commercial administration toolkit. Users can access messages and alerts, advertising strategies can be managed, and sales analyses can be issued and evaluated using Mindbody. Check-in and check-out control, role-based authorization, payment processing, and calendar synchronization are among the functions included in Mindbody’s staff control suite. Third-party programmers can link their systems with Mindbody’s product using a customized API.

Pros	Cons
Mindbody gives features such as organizing with waitlist surveillance	No free trial or free plan
Users can access messages and alerts, advertising strategies.	–

5. Lightspeed Retail – Best for Stock Monitoring

Pricing: starting from $79.00 per year

Lightspeed Retail is an internet point-of-sale system designed for merchants in the clothes, shoes, bike, jewelry, pets, sporting items, and interior design markets. Stock monitoring, retail shopping maintenance, payment drawer regulation, transaction handling, service contract management, user account access, online invoicing integration, and integration with POS hardware such as barcode reader and receipt printing technologies are just some of the features available to retailers.

Customers can develop, monitor, and allocate unique codes to commodities, as well as generate item modifications such as dimensions, colors, and components, utilizing the point-of-sale solution’s inventory management features. Accounts, transaction record reports, and client analytics are among the customer care capabilities offered by Lightspeed Retail. The Lightspeed Retail Point-of-sale iPhone software allows companies to establish an ios Point of sale within their retail outlet to handle transactions, perform returns, approve gift card transactions, apply coupons, and more, and can also be utilized in offline versions. Lightspeed application is accessible on a monthly subscription basis and comes with free, customized rollout and dedicated support.

Pros	Cons
The software is simple to install and operate	Splitting bills is a bit more logical.
Workers can easily learn how to use it.	The scheduling algorithm was inconvenient to use.
Customer profiles make it simple to personalize shopping experiences for all of our consumers while also keeping in touch with them.	–

6. Fishbowl – Best Industrial & Warehousing Management Software

Pricing: $4,395 one time payment

Fishbowl is a little and medium business-focused hybrid industrial and warehousing management software. Inventory control, material requirements planning (MRP), project factory area control, task process control, producer requirements, and expenses of equipment are some of the key aspects. The application can be installed on-premises or online. Barcoding, resource maintenance, raw resources maintenance, process tracking, auditing, automated requesting, and purchasing are just a few of the features that Fishbowl has to offer. It allows an organization’s several warehouses to receive real inventory changes.

It allows a firm’s diverse warehouses to receive real inventory changes. The technology can forecast inventory needs based on sales patterns and allows companies to move merchandise from one warehouse to another. Computerized batching and maintenance purchase orders focused on the lot and unique code monitoring are also available as part of the product.

Pros	Cons
Fishbowl software allows companies to move merchandise from one warehouse to another	It requires hours with customer service to fix and get back up and running.
The application is accessible online and offline	–
The sales side plugin in Fishbowl permits for accurate lead time monitoring as well as sales item predicting.	–

7. NetSuite – SAAS Management Software With the Best Flexibility

Pricing: starting from $499.00 per month

NetSuite, the world’s foremost SAAS Management solution, allows over 24,000 users to improve the insight, management, and flexibility they need to establish and sustain a prosperous company. NetSuite swiftly requires firms across several companies to work extra productively by optimizing basic processes and providing real insights into operational and financial performance through an advanced module that comprises ERP, cash flows, banking, asset tracking, Human Resources, product design, CRM, and several.

NetSuite offers a variety of financial reporting and economic maintenance strategies, including a balance sheet, payments payable, payments collectible, funds flow management, maintenance service, fixed inventory control, and global financial unification, all of which guide businesses streamline daily financial payments, speed up the financial close operation, and enforce compliance. Built-in dashboards and real-time reporting provide a comprehensive, real-time view of your company’s progress, from the top down to personal purchases.

Pros	Cons
Fully configurable and extremely robust	It tends to be laggy at times.
Have excellent reporting tools	Pricing can be a tad pricey.

8. Odoo – Best POS Software for Startups

Pricing: starting from $20.00 per month

Odoo Point of Sale is commercial software that is one of Odoo’s unified packages. The plugin operates both online and offline, and it delivers consistent data across retailers as well as an integrated inventory management tool. The Odoo Point-of-sale package is a piece of an open-source company component suite that also includes auditing, branding, warehousing, and project management. Wifi connectivity, voucher printers, user record, inventory management, and computerized scheduling are just a few of the functionalities of the POS modules. Odoo Point of sale system is best to fit for retail businesses with two to ten locations. Monthly and annual subscriptions are offered for the solution. Odoo’s support service can be contacted by phone or email.

Pros	Cons
Odoo gives your organization all of the tools it needs to run a successful business.	The application is developed in an interpreted high-level open-source language.
It’s simple to set up, efficient, and has well-integrated features.	Missing features from the previous version
The MRP is a fantastic tool for automating your supply chain.
24/7 customer support service

9. Cin7 – Excellent for Managing Online Retail

Pricing: Price not available

Cin7 is a web retail management software that includes e-commerce, order processing, POS, and analytics. Supply chain, Point-of-sale, third-party logistics, and electronic data interchange are all integrated into one solution. Cin7 enables merchants to monitor inventory counts in real-time throughout various warehouses to avoid stockouts and overstocks. It also allows top management to evaluate the exact charge and selling price of products using predetermined rules.

Marketers can use Cin7’s Point-of-sale capability to control inventory in real-time while handling funds terminal sales from any smartphone. Subscribers may also pay fees and control their accounts with it. Through supplying coupons and gift cards, the Point-of-sale component enables vendors to execute advertisements and commitment initiatives. Textile and clothing stores, as well as parquet, upholstery, electronics, and gadgets retailers, will benefit from this technology.

Pros	Cons
Straightforward process flow	The software cannot pick products in a warehouse virtually.
It’s a good fit with the business applications.	–
24/7 Customer Service	–

10. uAttend – Best for Keeping Track of Records

Pricing: starting from $22.00 per month

uAttend is a wireless human resources system that works across all mediums. It’s an internet system for keeping account of staff punctuality and timesheets. Websites, time clocks, and portable apps are all used to punch workers in and out. Organizations can also use spatial hot spots to permit employees to clock in and out from faraway places. uAttend maintains track of punch-in and punch-out time, as well as any disbursements between departments, in full detail. Reducing excessive payment fraud, sluggish payroll creation, difficulties in time card clearance, and missed patch updates are all issues that need to be addressed. There are no additional charges for version updates. Employees also obtain notifications each time they punch in or out of the organization, thanks to the computerized time card system.

Pros	Cons
There are no additional charges for version updates.	There isn’t any kind of free trial accessible.
The software also enables employees to punch in and out from distant locations chosen by their bosses.	–
It guards against large-scale payment fraud.	–