8 Best Free & Open Source Inventory Management Software Systems

Inventory is a key value for any company. Both excessive and surplus inventory can affect an organization's financial flow and pose a big threat to its liquidity position. Inventory Optimization is critical to ensure the reliability and availability of your stocks. It can reduce business risk. A good inventory management software system can help you gain better control over the inventory management process of your company. Such a tool will help you automate your Inventory and integrate the workflows with other associated systems. Real-time inventory management can be an excellent investment for every business today.

What is an Inventory Management System?

All organizations, small or big, have an inventory that includes raw materials, supplies, products in process, items in operations, and all finished goods. Inventory can be as small as a needle or some complex assemblies of an aircraft. Either way, mishandling of inventory or ignorance towards evaluating your inventory efficiently can cause significant financial losses and can result in either inventory surplus or inventory shortage. For a business, this means missed productivity and lost sales.

Automating the entire inventory management process can reduce the possibilities of deadstock, spillage, and unwanted storage costs.

Let us take a simple scenario:

In a typical business setup, customers order products from you, and you control the orders, raw materials, etc., to meet your customers’ demands. However, things often go out of proportion due to a lack of proper coordination between suppliers, manufacturers, customers, and salespeople. Without understanding the actual situation, each team starts controlling the inventory requirements. Inaccurate forecasting leads to the Bullwhip effect.

Your situation could be like this;

To reduce the Bullwhip effect, you need an Inventory management software solution that can automate many of the processes in real-time.

Have a look at the benefits.

Utilize technology, centralize information, and track and control Inventory easily with Inventory Management Software.

Inventory Management Systems: Then and Now

Inventory management systems went through a significant transformation in the last few decades. Modern inventory management software comes with robust automation capabilities, which are useful for businesses in attaining more agility, flexibility, and transparency in the inventory management processes. Also, the use of different technologies in modern inventory management systems further streamlined the processes with enhanced data analysis and management capabilities. Present inventory management systems offer numerous benefits to users as compared to earlier systems in terms of real-time insights, demand forecasting, automated replenishment, inventory optimization, etc., use of artificial intelligence, machine learning, and much more, allowing businesses to achieve inventory efficiency in a sustainable manner.

Here is the comparison of inventory management systems, then and now:

What are the Types of Inventory Management Software?

There are different types of inventory management software, ranging from free to expensive. Inventory management systems vary not only in terms of cost but also in terms of features, deployment methods, etc.

The three main deployment methods include;

On-premise inventory management systems
Software-as-a-service (SaaS) inventory management systems
Cloud-hosted inventory management systems

Is the Inventory Management Software System a strategic tool?

Yes, it is. The foremost aim of any company today is to meet the inventory needs of its customers. Some of the best free and open-source Inventory Management Software systems available today in the market can help you accomplish the business inventory demands and automate the process.

Inventory management software enables you to track the worth of your products, items, or assets, manage all your storage needs, and manage the number of your finished products. This saves you time and money.

A good Inventory management software system must be able to connect your company’s strategic goals, sales, production, and materials requirement planning. It should also automate purchases based on the forecast of your sales order.

Below are the 8 best free and open-source Inventory Management Software systems that promise maximum inventory efficiency. Choose the one that fits your needs and proceed with your order, pick, pack, and delivery without any friction.

8 Best Free and Open-Source Inventory Management Software Systems

Look at this comparison chart before we take you through each inventory management software system.

1. Inventory Script

Inventory Script is a free and open source inventory management software helping retail stores, eCommerce firms, and large-scale enterprises quickly manage their stocks, simplify inventory control, and improve supply chain processes. This powerful inventory tool can be used by businesses of all sizes owing to its robust automation capabilities that reduce errors and optimize operational efficiency. Additionally, the software also features customer management, vendor management, order management, billing, and report management capabilities to ensure optimal management of all relevant inventory functions from a centralized place. This flexible tool also supports integration with existing POS systems, accounting tools, eCommerce platforms, etc.

(Source: Inventory Script)

Features:

Real-time stock tracking with an up-to-date view of Inventory
Automated stock updates
Supports barcode scanning integration
Inventory alerts and notifications
Multi-location support
Customizable reporting
Demand forecasting
Compatible with mobile phones
Enhanced security with user access control
Customer management to edit, add, and delete customers
Order and billing management
Auto stock and report management

2. Odoo

Odoo open-source inventory management software is a cut-down version of an enterprise-level ERP system. It comes with a free downloadable version. Before finalizing the product, you can read a detailed review of Odoo. Odoo’s modern interface allows you to control and monitor your incoming orders, manufacturing orders, scrap products, pack products, receipts, and much more easily and quickly without any complications. Its advanced routing facility allows users to deliver products directly to customers straight from the suppliers. This avoids storage, unnecessary loading, and unloading of goods, etc. Picking, packing, and shipping are smooth and clear without any friction. Transfer of materials between warehouses and locations is completely automated with Odoo.

(Image Source: Odoo)

Features:

Odoo Inventory is fully integrated with manufacturing, purchase, and sales and thus keeps every function on the same page.
The software automatically schedules all your orders based on your sales order request.
Automatic inventory tracking in real-time
The unique Odoo double-entry inventory management allows full traceability from the supplier to the customer. Shift orders are not lost.
Odoo’s easy and intuitive mobile dashboard allows you to control, update, and track your orders anywhere and everywhere
The system allows you to activate only those features that matter to your business and easily manage either a single inventory or a multi-warehouse activity
Its smart scheduler triggers all inventory operational activities automatically.
Its customer portal is designed to give complete visibility of each order and its delivery status
Its custom barcode, custom alerts, custom route definition, real-time inventory valuation, advanced reporting engine, and inventory forecasts are other enhanced features that make this software more functional and usable
The software integrates well with all leading shipping carriers
Built-in smart replenishment strategies
Automated vendor follow ups
Push and pull rules, GS-1 codes, and customizable routes to control incoming and outgoing shipments
Real-time inventory management features
Minimize picking movements with wave picking, cluster picking, and batch picking.

3. Dewawi

Dewawi is a free and open-source inventory management system that small to large businesses can use to seamlessly manage their inventory. This web-based, easy-to-use inventory management software comes with customer and address management, warehouse management, invoicing, offers & discounts, project planning, data security, and expandable modules to effectively meet client requirements. The software also features a responsive design, allowing users to quickly perform their desired actions.

(Source: Dewawi)

Features

Import existing contacts from other systems
Ability to quickly store detailed article and price information
Download invoices, offers, orders, and delivery notes as PDF
Can duplicate receipts or automatically convert to other types
Powerful search and filtering option
Statistics module for a quick status analysis
Daily and automatic data backup
ISO 27001 certification for strict data protection regulations

4. OCS Inventory

Founded in 2001, OCS Inventory is an open source and free inventory management software solution to quickly scan and manage digital inventory. The software also supports integration with popular Addons, tools, and plugins, making the tool more configurable and flexible for efficient use. Besides the free version, the professional version comes with enhanced support, maintenance, and regular training sessions to help businesses ensure maximum value from the tool. The software can seamlessly work across multiple operating systems, including Windows, Linux, IBM AIX, macOS, Android, etc.

(Source: OCS Inventory)

Features:

Advanced broadcasting system to prevent network overloading
N-tier architecture with common standards, HTTP/HTTPS protocols, and XML data formatting
A centralized management server to upload data packets
Integrated functionality for SNMP scans
Built-in Perl plugin to create extensions to store data in databases
Phased deployment capabilities to seamlessly deploy solutions on remote desktops
Multi-lingual supporting French, German, and English
2-step network discovery
Optimized TAG restriction loading

5. ABC Inventory

ABC Inventory management software is free for unlimited records and workstations. It is designed to handle every aspect of inventory management, from creating purchase order to shipping the final product to customers. It also comes with modular structure, allowing businesses to customize the tool as per their needs, delivering better flexibility.

(Image Source: ABC)

Features:

Track every stage in the inventory lifecycle automatically
Get access to information right from the stage where you create a purchase order to the stage of shipment to your customer.
ABC Inventory is a barcode-capable application
The software comes with Warehouse/location movement logs
Users can adjust the Inventory directly
Multiple screen formats and views
Facility to track inventory issues automatically as per the location, serial number, remarks, etc
Quick and easy access to Inventory Cost Quotation
Instant Unit of Measure conversions
In Stock, On Hold, Committed, and Order totals and details
Thorough reporting for purchase orders, inventory control, warehouse appointments, shipping, etc.
Users can customize the dashboard
Supports multiple currencies with auto update rates
Supports data export to Microsoft Excel, Word, HTML, and text functionality
Automated product creation with serial number assignments
Critical, purchase, and reserve parts support
Multiple company, training, and test datasets

6. Stockpile Inventory Management

Stockpile Inventory is a free online inventory management system ideal for small businesses and individual users. It is simple yet makes online inventory management easy and quick. The software is a big time-saver. Users, locations, and managed products are not limited. This tool comes with tons of useful features to add inventory, record sales, take returns, determine damaged goods, and do much more.

(Image Source: Stockpile)

Features:

Easy-to-use interfaces
Add stock to an existing inventory easily
Manage returned and damaged stocks in real-time
Access, administer, and edit your existing Inventory, manufacturer, location, transaction, and customer preference easily in just seconds
Access current stock levels and get reports instantly
Unlimited users, locations, products, storage, and Inventory
Tiered access model to manage multiple locations at the same time
Excellent technical support
Reporting module to get data about inventory turnover

7. Skyware Inventory

Skyware Inventory is a free, easy-to-use application ideal for small and medium-sized businesses. This web-based tool allows inventory managers to adjust inventory data for new and lost products, create tickets for outbound goods, review receipts for inbound stuff, track inventory location, etc.

(Image Source: Skyware)

Features:

Well-placed application tabs allow users to access items, transactions, files, and profiles
Sub-tabs help in easy and quick access to the existing and open transactions
Facility to export inventory data to create a customized report or spreadsheet program
Access the history of transactions of each item easily and quickly
Each item can be filtered by date, location, and transaction types
Monitor the movement from a single dashboard
Gain access to reports anytime
Manage users, categories, and locations
Support cost reports for FIFO (First In, First Out), LIFO (Last In, First Out), and AVERAGE
Multiple custom fields for inventory items and transactions
Available in multiple languages with multi-user capabilities
Excel export for spreadsheet analysis
Real-time monitoring and load balancing for high availability
Auto-calculates costs for adjustments

8. InvenTree

InvenTree is one of the leading open-source and free inventory software ideal for organizing parts, supplier management, Bill of Material (BOM) management, and more. Its intuitive stock control and parts management capabilities make it a perfect choice for SMEs to track and monitor the overall stock of a certain part.

(Source: InvenTree)

Features:

Facility to organize and arrange parts in structured categories as per your needs
Easily create, delete, and modify suppliers or parts from the Inventory
Facility to organize stock items in locations and sub-locations for flexible inspection and tracking
Intelligent Bill of Material (BOM) management with multiple supportive file formats
Offers a build management system to automatically or manually allocate parts from the Inventory
Advanced reporting features that support a custom template
Powerful customization capabilities with native Python library, plugins, and RESTful API.

Well, the above-mentioned free and open-source software solutions are best suited for businesses with a low budget or businesses that require basic inventory management features.

Businesses that need advanced features and functionalities without any budget constraints can use below-mentioned top inventory management systems.

List of the Top Inventory Software Commonly Used

Zoho Inventory

Zoho Inventory is a leading inventory management software for small and big businesses that comes with robust inventory tracking, warehouse management, order management, and e-invoicing capabilities. It also supports quick integrations with Razorpay, G Suite, Shopify, Salesforce, and numerous other organizational tools. Item grouping and assembling, serial and batch tracking, sales order management, back order and drop shipment, real-time updates, etc., are a few notable features of Zoho. It is available in both free and premium versions, besides a free trial of 14 days. You can also read the reviews about Zoho products to understand their offerings.

Fishbowl Inventory

Fishbowl Inventory is a leading inventory management and tracking software that manages the Inventory of multiple locations from a single dashboard in real time. It is one of the few tools that enable users to track inventory parts based on quantity and weight and control the margins by matching the FIFO, LIFO, and average costing structure with the inventory used. As an inventory, warehousing, and manufacturing software solutions provider, Fishbowl offers robust real-time traceability, AI insights, efficient barcode scanning, automated inventory control, asset management, quick integration with popular business tools, and detailed reporting capabilities to ensure effective management of complete warehouse operations. The premium pricing plans start from $199 per month.

NetSuite ERP

NetSuite ERP is an integrated business management tool with excellent inventory management functionalities. Businesses of all sizes use NetSuite to automate their financial processes, gain better visibility in inventory, optimize the supply chain, flawlessly manage orders, and improve warehouse efficiency. It offers a single and real-time view of Inventory across all locations and sales channels, which reduces stockouts and inventory costs. It also comes with advanced AI capabilities to suggest the best course of actions, simplify tasks, and uncover enhanced business insights. NetSuite ERP is integrated with the other modules of NetSuite, like accounting, CRM, supply chain, etc., facilitating smooth workflows between departments. Do not miss reading the reviews of NetSuite ERP.

Sortly

Sortly is another widely popular inventory management system that helps businesses of all sizes and industries in organizing their assets, inventory, orders, etc. It is one of the best tools for streamlining daily inventory operations, simplifying auditing, forecasting, and budgeting, generating real-time inventory reports, giving access to relevant people only, tracking supplies and consumables, etc. Sortly also comes with multi-device access, custom low-stock alerts, and in-app barcode and QR code scanners. It offers a 14-day free trial, a free version for personal use, and premium packages starting from $24/month onwards, billed yearly.

Industry-Wise List Of Top Inventory Management Tools

At present, the market is flooded with different types of inventory systems, making it challenging for businesses to select the right inventory management software for their needs. Here is a list of top inventory management software that works best for specific industries, which can be a helpful guide for you to select your desired software.

Inventory Management Software for the Manufacturing Industry

Whether you run apparel manufacturing, food, machinery, or electronics manufacturing, inventory management is critical to ensure supply chain optimization, determine current inventory balance, track raw materials consumption, manage items and supplies in stock, etc. This can only be achieved through manufacturing specific inventory management software, which is beneficial in effectively fulfilling the orders, forecasting the demand, and maintaining a decent level of Inventory in stock. Here is a list of the best inventory management tools ideal for the manufacturing industry;

SOS Inventory

SOS Inventory is a top manufacturing inventory software for manufacturing firms dealing with machinery, food & beverages, electronics, etc. It comes with an intuitive user interface that allows remote access from other devices, logs accurate records for materials, transactions, etc., visualizes every aspect of the product for optimization, etc. It supports integration with major e-commerce sites like Shopify, PayPal, Intuit, ShipStation, Bigcommerce, Zapier, etc., for a centralized flow of information in one place. SOS inventory is available for a 2-week free trial and standard pricing starts from $64.95/month for 2 users at an extra $25 each for new users.

Unleashed

Unleashed is a leading cloud based manufacturing inventory management system ideal for all firms that have their manufacturing units. Over 26,000 users actively rely on it to effectively manage their inventory. It helps in automating reordering, efficient production planning, purchasing, and supplier management. The tool offers manufacturing-specific functionalities such as transactions in multiple currencies, accounting integration, Bill of materials, connecting unlimited warehouses, purchase order control, demand forecasting, barcode scanning, inventory optimization, etc., giving everything to improve the manufacturing process. The pricing of the tool starts from $376 per month, billed annually, besides a 14-day free trial.

Finale Inventory

Finale Inventory is one of the best tools tailored to fit the growing needs of manufacturers to improve item management and inventory tracking while enhancing business productivity. Some of the best features of Finale Inventory are kitting and bundling, mobile barcode scanning, stock auditing, demand forecasting, custom reporting and analytics, etc. The pricing of Finale Inventory starts at $99 per month, and there is a free trial. The platinum+ pricing package is best for large-scale enterprises as it is customizable according to manufacturing capabilities.

Inventory Management Software for the Health & Pharmaceutical Industry

Inventory management is very critical for the health and pharmaceutical industry in fulfilling the patient's needs without any issues. It is critical to have the correct stock of medicines, equipment, accessories, and other supplies in place to avoid any danger to the lives of patients. Here are some of the top inventory management software for healthcare organizations:

Cleverdev

Cleverdev, a healthcare inventory management system, is a top-notch solution for medical professionals, pharmacies, hospitals, clinics, and healthcare centers. It offers automated workflows for improving equipment check-ins and check-outs, tracking medical equipment and supplies, monitoring all inventory transactions from a single user-friendly interface, etc., with enhanced security and compliance capabilities. It can also integrate with commonly used medical software like Electronic Health Records software, procurement management systems, drug management systems, etc. The software does not offer a free version and one should connect with the Cleverdev team for a free consultation and cost estimation.

SurgiCare Inventory

Surgicare is a leading medical inventory control software specifically made to cater to the needs of healthcare centers. Medical institutions of all sizes, such as surgery centers, dental centers, clinics, universities and educational, medical examiners, community health centers, etc., can use this software to save money, time, and resources in inventory management, on-demand reports generation, ordering, checking stock levels, checking backorders, etc. The tool offers a free demo, and pricing information is provided upon consultation with the company.

Barcloud

Barcloud is a popular and award-winning inventory management solution for the healthcare industry to oversee supplies, equipment, medications, etc. It offers automated alerts, inventory requisition, inventory tracking, resource allocation, streamlined workflows, configurable reports, etc., to hospitals, clinics, laboratories, pharmaceutical manufacturers, medical suppliers, etc. It comes in both on-premises and cloud hosting, so you can choose the one that suits your needs. It is suggested that you connect with the company for pricing and a free trial instead of falling for third-party vendors.

Inventory Management Software for the E-commerce Industry

E-commerce businesses cater to a huge number of digital shoppers at present. Due to this, they need inventory management software that can eliminate many issues associated with stock outages, higher maintenance costs, ordering, etc. Some of the popular e-commerce inventory management software are as follows:

LightSpeed

LightSpeed is a leading inventory management solution for e-commerce businesses. It helps retailers simplify inventory management, easily manage inventory across multiple channels, create product variants to manage different sizes and colors, reorder new stock, generate barcodes, etc. It comes with integrated online marketplaces like Amazon, eBay, and Google, 30 free, easy-to-use professional themes, a website builder, product import from a POS system, built-in SEO tools, automated abandoned cart email alerts, etc.

Linnworks

Linnworks, previously SkuVault, is a top eCommerce inventory management software that comes with powerful features for managing both inventory and warehouse activities from a single dashboard. The software can connect with major e-commerce platforms like Amazon, eBay, Walmart, Shopify, etc. Users can easily organize products, raise purchase orders, efficiently handle quality control, generate customizable reports, view warehouse metrics, acquire real-time inventory and warehouse updates, manage shipping, automate order processing and fulfillment, etc. Connect with the sales team to get a clear idea about the overall costs, including add-ons.

Cin7

Formerly Orderhive, Cin7 is an easy-to-use inventory control software and a one-stop solution for e-commerce businesses and retailers to efficiently track and manage inventory on a real-time basis. Over 8,500 customers use this software to better manage inventory and sell. It can perform a wide range of functions, such as order management, inventory control, shipping management, manufacturing management, and purchase management, to ensure the continuous functioning of the majority of e-commerce processes. It can also integrate with other organizational systems for getting your sales orders, sending stock notifications, accepting payments, etc. The Cin7 pricing plan starts from $349/month with a free trial.

Shopventory

Shopventory is a widely used e-commerce inventory management tool owing to its robust inventory control and reporting capabilities. It offers several unique features, such as spreadsheet bulk upload, product bundling, scan-to-count cycle counts, multi-location syncing, multi-channel syncing, modifier inventory tracking, product information management, user access control, etc., that distinguish it from other tools. AI features to forecast stocks, automatically add min/max levels, update product details, import purchase orders, etc., are available. It is a great tool for retailers and online sellers to save time and money while ensuring prioritized and accurate Inventory. The tools offer a free trial of 30 days, and premium prices start from $49/month. You will get 2 months free on a yearly subscription.

Veeqo

When it comes to free inventory management software for ecommerce, Veeqo is a boon for online sellers in automating inventory operations, tracking stock, reporting, and forecasting market demand. It allows sellers to adjust stock and listing prices, store data, transfer inventory across multiple warehouse locations, sell individually or in bulk, buy and print labels, order management, etc., from a single place. The software also offers robust automation capabilities to automatically update inventory levels and smartly route orders. It can also integrate with 50+ online stores and carriers for actively managing and monitoring the Inventory. Besides a free version, the premium plan costs $250 per month.

Brightpearl

Brightpearl is another leading inventory control tool for the e-commerce industry in managing complex order fulfillment, multi-channel orders, and easy multi-location Inventory. Over 5000 brands rely on Brightpearl to intelligently plan their inventory, automate operations, and ensure maximum ROI. It is widely used by online retailers owing to advantages like inventory accuracy, advanced inventory planning and forecasting, product performance analysis, access to multiple Plug & Play apps, integration with accounting apps, etc. Brightpearl is also a certified partner of Shopify. Custom demo and pricing quotes are offered by the company upon consultation.

Inventory Management Software for the Banking Industry

Financial institutions have different types of inventories and assets, and their optimization and management are a bit challenging if not strategized properly with the right technological investments. Only a banking-based inventory management system can manage the financial and banking organizations’ assets. Check the following list of top-trending inventory management systems for the banking industry:

Wasp Barcode

Wasp Barcode is a pioneer in inventory management software for the banking industry in preventing stockout of deposit slips, checks, office equipment, files, etc. It can help track and manage different banking assets such as computer systems, cash registers, branch expenses, cash, ATMs, etc. It offers enhanced inventory scanning, offline inventory, inventory audits, cycle counts, fully customizable reporting, custom report design, audit windows, label customization, barcode creation, print, etc., to make the work easy. Wasp is available at an annual price starting from $1295/user with a free trial to test the software capabilities.

Logicpath

Logicpath is an award-winning inventory management software with advanced forecasting and inventory optimization capabilities. It helps financial institutions seamlessly integrate all cash points for effective cash network management. This AI-powered inventory management system allows financial firms to efficiently forecast inventory and order cash, ensuring optimized inventory levels. It is also helpful in gaining quick visibility and control over the devices of different branches, ATMs, vaults, ITMs, etc. Logicpath is popular owing to benefits like improved cash operations efficiency, better actionable forecasting intelligence, reduced delivery costs, real-time reporting, etc. Consultation with the sales team is suggested to get custom pricing per need.

Vsoft Technologies

Vsoft Technologies is a one-stop inventory management solution for financial organizations, including core banking, payment systems, remote deposit capture, digital banking, etc. It allows banks to allocate role-wise activities to branches, maintain multiple vendors for the bank’s Inventory, acquire real-time information on branch and ATM updates, visualize data into informative graphs, intuitively categorize activities, etc. The pricing information is not publicly available but provided by the sales team after a brief discussion.

Inventory Management Software for the Human Resource Industry

Human resources are a vital component of every organization. They can use inventory management software to manage inventories, cash flows, employee timesheets, reorder new supplies, etc., reducing hectic efforts. Some of the inventory management software for human resources is as follows:

Acctivate

Acctivate is a power-packed inventory management tool for HR that comes with modules for order and business management, as well as more, catering to the HR industry. HR professionals from small to mid-sized businesses can easily perform and manage a wide range of functions like BOM management, credit management, inventory dashboard, multi-channel inventory management, order fulfillment, report generation, warehouse order management, powerful search, two-way sync, real-time insights, etc. It also supports quick integration with Intuit QuickBooks for handling invoices, payments, tax deductions, cash flows, employee timesheets, etc. It offers a free trial of 14 days and flexible pricing upon consultation with the official experts.

Workday inventory

When it comes to accurate and easy-to-use inventory systems for the HR industry, Workday Inventory is a popular brand for tracking, stocking, and replenishing organizational Inventory. It is one of the must-have tools for HR managers to acquire robust inventory controls, real-time business analytics, workflow optimization, HR service delivery, reports generation, new inventory sites addition, and increased stocking locations. It allows HR managers to approve requests, access dashboards, perform transactions, etc., through mobile devices. For pricing inquiries, connect with the Workday Sales team.

Inventory Management Software for the Food & Beverage Industry

Food and beverage businesses must manage different supplies, orders, and inventory items, including packed foods, cold storage, veggies, beverages, and other ingredients, which can be complex. However, using the right inventory management solution reduces the complexity drastically, leading to reduced costs and food waste. Some of the top inventory management tools for the F&B industry are as follows:

ChefMod

ChefMod is a top inventory management system for F&B businesses that ensures an accurate and error-free ordering experience for consumers. Features like inventory tracking, AP automation, real-time price audits, purchasing and procurement management, recipe management, food cost calculation, menu cost analysis, invoice scanning, etc., make it a perfect fit for restaurants. It also comes loaded with many online food order management features to ensure a seamless purchasing lifecycle. The pricing information can be acquired after contacting the sales team of the company.

Orca Inventory

Orca Inventory is a restaurant-based inventory management tool that comes with a lot of built-in features to handle various aspects of F&B businesses. These include recipes, plate costing, full-color recipe cards, sales forecasting, reporting, analytics, etc. In addition, its accounting, weather, pos, and distributor integrations allow your business to function effortlessly. This tool can auto generate PO numbers, automate suggested orders, and check purchase orders against deliveries. The pricing of Orca Inventory starts from $179 per month when billed 2 yearly and $199/month, billed yearly.

Lightspeed Restaurant

Lightspeed Restaurant, formerly Upserve, is a POS and payment processing solution for small eateries and large restaurant chains. It comes with robust customizations, automated ingredients tracking and management, real-time deductions, automatic replenishments, low-stock alerts, monthly sales reports, etc., so that restaurants can easily perform their functions with full efficiency. The pricing packages start from $189 with extra charges for add-ons.

Nothing but the Best

The Inventory Management Software Market size is expected to cross 2.51 billion in 2025, showing huge demand. The role of inventory management software is not merely restricted to accountability. It is now seen as a source of competitive advantage in demand-driven organizations.

Buyer schedules are uncertain. But a good Inventory management software system will help you predict and decide your actions beforehand. The software available in the market today will help you with Inventory, including cost optimization, service-level operations, and forecasting in single- and multi-product settings. Additionally, the integration of digital technologies, such as AI, ML, IoT, AR/VR, etc., in inventory management tools can significantly transform the work of inventory managers, allowing them to enhance their performance and organizational results with minimal chances of errors.

If you’re looking for more advanced inventory management software, check out the latest inventory management software list on Goodfirms.