Businesses working with physical stock need to find ways to keep track of their inventory. This article looks at the five best-rated inventory management tools as ranked by the users of GetApp.co.uk.
With the recent boom in digital and e-commerce during the COVID-19 pandemic, there is an increased need for businesses to deploy technology to manage inventory and keep things running smoothly. With a predicted compound annual growth rate (CAGR) of around 11.2% between 2022 and 2028, the demand for inventory management systems is rising.
Inventory management software helps businesses track and manage product locations, item details, and stock levels. With this, you avoid the risk of human error while efficiently managing inventory, procurement, and fulfilment functions. The best inventory management software aims to save you time and money while improving supply chain efficiency with accurate, real-time reporting and data distribution.
Manual inventory management tracking cannot handle multiple complex tasks like inventory auditing, control, and real-time tracking. The stakes can be high if there are flaws in this process. Inadequate stock can lead to lost sales and negative customer experience, while excess inventory increases the cost of warehousing.
In this article, we will show the five top-rated inventory management software on GetApp UK. We’ve selected this software based on their overall rating, the core features they offer (inventory management, inventory optimisation, and product identification), and the number of reviews on GetApp.
To be considered for this list, tools had to have a minimum of 20 reviews over the last year and a minimum overall user rating of 4/5 over this period.
You can find the detailed methodology at the bottom of this page. We present the best inventory software tools below in alphabetical order.
1.
- Overall Rating: 4.7/5
- Value for money: 4.6/5
- Features: 4.4/5
- Ease of Use: 4.5/5
- Customer Support: 4.7/5
Finale Inventory is a cloud-based inventory management system that is scalable to business needs and lets managers handle stock movements. Finale Inventory’s third-party integrations with ShipStation and QuickBooks help multichannel retailers manage stock levels across different marketplaces like Amazon, eBay, and Shopify.
The inventory management system provides centralised inventory tracking that lets users sync offline and online orders in one central location. Additionally, businesses can sync updates of stock levels in real-time to prevent overselling.
Finale Inventory’s reporting feature comes with over 20 preloaded inventory, purchase, sales, and accounting reports and the software delivers multi-location monitoring and support.
Available on a monthly and annual subscription basis, Finale Inventory also offers a 14-day free trial as well as numerous packages depending on your plans, orders, and users.
2.
- Overall rating: 4.7/5
- Value for money: 4.7/5
- Features: 4.5/5
- Ease of use: 4.8/5
- Customer support: 5/5
Prodsmart is an inventory management system for manufacturers that lets them manage their production lines with real-time data collection. Manufacturers can assign tasks, set up teams, and track productivity while also providing reports to manage, control, and track inventory.
Prodsmart delivers multiple solutions beyond inventory, helping SMBs make the most of their inventory data by gathering insights on the whole production front to facilitate data-driven decisions.
Prodsmart also offers quality control tools, which aid with waste tracking, product logging, and quality checklists for all listed inventory.
Prodsmart does not have a free version but comes with a 14-day free trial and multiple monthly subscriptions depending on your needs. Prodsmart’s core subscription offers the essential features, including production, sales and purchase order management, inventory management, real-time support and notifications, and standard integrations. After that, you can add on extra features like maintenance, API access, barcode scanning and more for an added cost per month.
3.
- Overall rating: 4.3/5
- Value for money: 4.2/5
- Features: 4.3/5
- Ease of use: 4.5/5
- Customer Service: 4.2/5
ShipMonk is a cloud-based inventory management software that provides multichannel order, inventory, and warehouse management solutions for small to medium-sized eCommerce businesses.
Shipmonk primarily provides fulfilment software and services and can process orders from customers and prepare them for shipment from a business location. Shipmonk automates inventory and warehouse management as well as various retail and e-commerce fulfilment services.
Other features include forecast reporting and analytics to help you strategise, plan, and execute retail projects. It also comes with customised labelling and package lists, EDI compliance, and multi-retailer support.
ShipMonk has over 65 API integrations with third-party shopping carts that sync directly with your preferred sales channel. Shipmonk offers a free trial, and pricing is personalised and based on the number of orders per month and storage requirements.
4.
- Overall rating: 4.6/5
- Value for money: 4.3/5
- Features: 4.4/5
- Ease of use: 4.3/5
- Customer support: 4.7/5
SkuVault is a cloud-based inventory management system that offers unlimited SKUs, orders, and warehouses. The software centralises product information and allows quick access to product details such as codes, supplier descriptions, and prices via the catalogue.
SkuVault also provides reporting capabilities to help you gain insights into sales performance. Warehouse teams can manage picking processes and purchasing flows by leveraging SkuVault’s customisable, filter-powered picklists and purchase orders.
SkuVault supports numerous third-party integrations, including QuickBooks, Shopify, SalesForce CRM, and more.
SkuVault doesn’t have a free trial but offers three monthly subscriptions based on the number of orders needed. Users can also access customer support via phone and chat.
5.
- Overall rating: 4.9/5
- Value for money: 4.8
- Features: 4.8
- Ease of use: 4.9/5
- Customer Service: 5/5
Trunk is a cloud-based inventory management software that allows businesses to sync inventory in real time across multiple sales channels including Amazon, eBay, Etsy, Shopify, and more. Trunk lets users centralise their inventory and sell on various platforms.
Additionally, Trunk lets users automatically link product listings with stock-keeping units (SKUs), in order to help reduce duplicate entries and optimize workflows. Users can categorise products into customisable bundles, link product listings to stock-keeping units, and receive credit amounts in individual accounts.
Trunk does not come with a free version but does provide a 14-day free trial for both essential and pro-plans. These trials include access to all core features including real-time stock level syncing and low-stock alerts. The pro-plan free trial also includes bundling and kitting, as well as duplicate SKY syncing.
The software is also available on a monthly subscription basis, with scalable pricing based on the number of orders processed per month. Users can contact customer support via live chat and email.
Considerations when choosing your inventory management tool
Before choosing the right inventory management solution for their company, business owners should consider the specific requirements needed and the challenges they are facing. These requirements can vary from the number of orders or SKUs a business deals with, to the size of their warehouses or containers. These factors should be calculated and considered before deciding which inventory management system to opt for.
There is also a large variation in the prices of software, so businesses must have a clear idea of the budget they have for investing in inventory management and ensure that they receive value for their money.
The usability can determine how effective the implementation of this solution is to a business. If business owners are looking for a solution that simplifies their inventory management then they are most likely to choose one that is easy to use and does not require too much of a learning curve for employees.
Nonetheless, even if an inventory management software tool is difficult to use, business owners should make sure that they are not left alone if they have any issues and need some assistance. The level of customer support, from training to assistance, shouldn’t be overlooked either.
Finally, the features an inventory management tool provides should cater to the needs of each business. Identifying, listing, tracking, and optimising inventory are general features that businesses should look out for, while additionally looking for inventory management systems that can integrate with other software tools in their tech stack.
Methodology
To be considered for this report, products had to:
- Meet our definition for inventory management software: “Inventory management software helps businesses track and manage product location, item details and stock level, as well as report on trends to inform forecasting decision, in order to reduce the costs of holding overstock and the missed revenue from out of stocks.”
- Have the following core features: inventory management, inventory optimisation, and product identification.
- Have a minimum of 20 reviews on GetApp.co.uk between 04/03/21 – 04/03/22
- Score an average rating of 4.0 stars on Getapp.co.uk
