15 Best Retail Inventory Management Software

Ever tried to manually keep track of your inventory? Must be a struggle. 

And the result? Errors, misplaced items, and headaches. 

As your stock and distribution channels grow, the pressure of effectively tracking all your inventory intensifies. To avoid the issues we've mentioned above, you need to adopt the right retail store inventor. 

To help you find the right tool, we’ve carefully researched and read through many reviews and expert advice to select the best retail inventory management software that will improve your operations and increase your efficiency. 

Ready to find the best app for your retail inventory management? Let's dive in!

What is Retail management inventory software?

Retail inventory management Software is a tool that helps retailers to efficiently track, organize, and manage their inventory across one or multiple store locations. 

The software makes monitoring stock levels, restocking products, and preventing overstock or stockouts, easy for businesses. It also helps to analyze inventory trends for efficient operations. The tool aims to help business owners to have the right amount of stock at all times. 

Now that we've explained retail management software, let's see some top tools you can consider.

1. Xenia- Overall Best Retail Inventory Management Software 

While Xenia is our tool, we aim to give an honest review of the software’s abilities to effectively manage your inventory. 

Xenia is retail inventory management software for retail owners looking to digitize inventory management processes and reduce the cases of human error associated with manual tracking methods.

The software provides detailed reports on stock levels, enabling businesses to make accurate purchasing decisions and efficiently forecast future needs.

Xenia’s real-time notifications and updates ensure that all team members are informed about inventory status and task progress, promoting effective collaboration. The tool allows you to adopt effective inventory management practices such as FIFO (First In First Out) or JIT (Just In Time).

Here are some of the tool’s key features.

Xenia’s Key Features 

Real-time inventory tracking

With Xenia, you don't have to guess the amount of inventory you have available. The platform is a retail inventory management software that provides a real time tracking tool that helps you keep track of your stock per time.

This way, you can constantly monitor your stock levels continuously. This feature helps reduce errors in stock counts and ensures that the right amount of inventory is available when customers need it.

Xenia’s automated updates and multi-channel synchronization facilitate effective management across various platforms.

Automated Reordering

With Xenia, you can avoid running out of products. The tool helps you to automate the reordering process.

The software does this by placing orders for products when stock levels fall below predefined quantity. The platform uses real-time data to predict your inventory needs.

The software automates the ordering process by generating purchase lists based on historical usage patterns and forecasted demand. This ensures that businesses maintain the right stock levels without reordering or running out of the needed supplies.

Supplier Integration

Some suppliers have online portals where you can place orders, track deliveries, and get stock updates. Xenia can integrate their inventory systems with these portals to automatically update inventory levels as new stock is ordered or received.

Xenia enables this seamless integration with suppliers' systems to give you live updates on the inventory levels, pricing, and reorder statuses. 

Cross-Location Inventory Management

If you have stores in multiple locations, you can effectively manage your inventory across your different locations. Xenia offers cross-location inventory management.

With this feature, you can track and transfer stock between your different stores, improving your inventory distribution and responsiveness to customer demand fluctuations.

Customizable Checklists

Xenia includes customizable checklists that help maintain operational consistency across all retail locations. You can tailor these checklists for various processes like inventory audits and employee training, ensuring that all tasks are completed efficiently.

Comprehensive Tracking

Xenia allows users to monitor every item in their inventory in real-time. It captures essential details such as location, status, and maintenance records, which aids in efficient inventory management. This feature is particularly beneficial for businesses that require precise tracking of equipment and materials.

Optimized Storage Management

Xenia helps businesses maximize their storage space by tracking available storage capacity and preventing overcrowding or under usage. This aspect is crucial for maintaining an organized inventory system.

Additionally, Xenia provides a simple interface for easy navigation. The platform supports mobile app functionality to allow users manage inventory on-the-go.

Other Key Features 

• Tasks and Work Orders: Create stock orders with ease, with options to include photographs and videos, and other material to task assignment. 
• Real Time Chats: The platform allows team members to communicate smoothly. Team members within same or different departments can communicate about work orders and other guest requests. 
• Operations Templates: Serves as a centralized hub where you can perform tasks through different customizable checklists.
• SOP and AI-Powered Writer: The platform uses AI to create maintenance operating procedures and policies.
• Multi-Unit Operations: Enables you to manage your inventory and operational activities within different locations. This way, you can keep tabs on the available stock in your facilities.

Xenia Pricing 

• Free Plan: Starts with about five users and allows unrestricted access to all its basic features. 
• Starter Plan: Starts at $99 per month for the first 15 users, and covers access to its key features. 
• Premium Plan: Costs $199 per month for the first 15 users. Allows access to more advanced functions and features. 
• Custom: Need a more tailored plan for your organization?

‍Book a free demo today!

2. Zoho Inventory: Best For Advanced Reporting and Analytics

Zoho inventory software helps to track inventory and manage orders for small to medium scale businesses. The software helps retail businesses to manage their inventory operations. 

The solution enables you to track your stock levels and manage orders. The platform integrates with popular e-commerce platforms, accounting software, and shipping carriers. With this, users can have a central workflow and boost their operational visibility. 

Additionally, the tool provides analytics and reporting features to ensure users make data-driven decisions. 

Zoho Best Features

• Zoho is best for small businesses, small e-commerce companies and drop shippers.
• Provides multichannel inventory control
• The platform easily integrates with other solutions in the Zoho inventory software suite.
• Offers free and affordable paid plans.

Zoho pricing

• Free plan covers 50 Orders and one only.
• Standard plan costs start at $29 monthly. 
• Professional plan costs $79.
• Premium plan costs $129.
• The Enterprise plan costs $249.

3. Cin7: Best For Syncing Inventory Across Different Sales Channels

Cin7 is a cloud-based inventory software that helps businesses to manage their inventory and sales across multiple channels in real-time. 

The tool integrates with different software like Shopify, Etsy, Amazon, eBay and others. Additionally, Cin7 allows users to effectively manage multi-locations by helping to track inventory faster and more efficiently.

The tool simplifies purchasing by automating restocking based on pre-set reorder levels. Plus, Cin7 is highly scalable and can adapt to the needs of growing businesses.

This makes it highly valuable retail inventory management software for any organization that needs a tool that can meet its needs at any point and also constantly increase efficiency, reduce costs, and improve customer satisfaction.

Cin7 Best Features

• Supports multi-location businesses.
• Cin7 provides an effective inventory forecasting tool that enables businesses to predict demand and make accurate plans for stock. This feature considers seasonal trends, previous sales data, and other relevant factors for accurate forecasts.
• Provides POS systems and barcode scanning on all plans
• Cin7 makes order processing easy with its simple order management system. The tool allows users to manage purchase orders, sales orders, and drop shipping orders from a central dashboard. This means users can easily monitor their order statuses. 
• Cin7 delivers a B2B eCommerce platform that helps users to sell directly to wholesale customers. 

Cin7 Pricing 

• Standard plan cost starts at $349 monthly
• Pro plan costs $599 monthly
• Advanced plan costs $999 monthly.

4. inFlow: Best For Updating Inventory 

InFlow is a good option for B2B wholesalers and retailers as a retail inventory management software. The software helps business owners to handle purchase orders, send invoices and receipts, barcoding, reporting and many others. 

Additionally, the software tracks buyers location after an online order and automates sales and invoicing.

The tool provides inventory control services like reordering, organizing products, stock tracking, barcoding, pricing and costing, and manufacturing. The tool is great at reordering inventory before time and providing real-time visibility.

iFlow Integrates with many tools including eBay, Amazon, Shopify, FedEx, Amazon, Wayfair, and others.

inFlow Key Features

• Real-time Inventory Tracking: Monitor stock levels across multiple locations with the tool’s dashboards.
• Barcode Scanning: Simplify product identification and tracking.
• Order Management: Create and manage purchase and sales orders efficiently.
• Reporting and Analytics: Generate information on inventory valuation and sales trends.
• Integration Capabilities: Connect with platforms like Shopify and QuickBooks for smooth data sharing.
• Mobile Accessibility: Manage inventory on-the-go using mobile apps.

 inFlow’s Pricing 

• Entrepreneur plan: Starts at $110 per Month
• Small Business: Starts at $279 per Month
• Mid-Size: Costs $49 per Month
• Enterprise: Costs $1,319 per Month
• Custom plans are available on request.

5. iVend Retail: Best For Mobile Friendly Inventory Management 

iVend Retail is a cloud-based retail inventory management software that helps users to get visibility of their inventory across different channels. 

The tool provides various software applications that cover various aspects of retail management, including point of sale (POS), inventory management, customer loyalty, and eCommerce integration.

The software provides real-time visibility, accurately accounts for stock with detailed reports, and improves customer experience.

 iVend Retail Key Features

• Real-Time Inventory Visibility: The tool provides real-time updates on the stock available in the different locations. This way, retailers can make decisions with accurate data to prevent overstocking or stockouts.
• Inventory Tracking: The software helps users to track inventory movement. This includes movements due to sales, transfers from different locations and exchanges and adjustments. Plus, the tool ensures accurate item tracking through factors like color, size, and serial numbers.
• Centralized Inventory Control: This tool provides a central database for managing stock in multiple stores, warehouses, and online channels. 

iVend Retail Pricing

• Only available on request.

We’ve seen the best retail inventory management software. Now, let's see some other tools that can serve your inventory management needs. 

6. Ecomdash: Best For eCommerce Reporting.

Ecomdash is a retail inventory management software that is primarily useful to e-commerce businesses (especially small and midsize enterprises).

The solution is a cloud-based tool that helps businesses to manage inventory across multiple platforms and channels.The solution allows for the management of inventory, orders, and shipping across multiple sales channels from a single platform.

This integration helps to improve operations, reduce errors, and increase efficiency.Ecomdash software provides advanced reporting and analytics to enable users to monitor sales trends and manage inventory levels. 

Ecomdash’s Key Features

• Order Management: Centralizes order processing from multiple marketplaces, for efficient handling of sales orders, returns, and customer communications.
• Supplier and Purchase Order Management: Simplifies the process of managing suppliers and creating purchase orders to replace stock as needed.
• Shipping Management: The tool integrates with major shipping carriers to make label printing and shipment tracking easy.
• Reporting and Analytics: The software provides detailed information about inventory turnover, sales performance, and other important metrics.

Ecomdash’s Pricing

• Free trial is available 
• Standard plan: Goes for $50 per month
• Customized Plan: Available on Request.

7. Ordoro: Best For Bulk Inventory Management 

Ordoro is a cloud-based inventory tool that helps to improve the inventory control of eCommerce businesses. This retail inventory management software provides features that help users to manage stock, orders, and shipping across multiple platforms and channels.

Ordoro helps to make bulk shipping easy for businesses by automating the creation of labels for bulk orders and managing inventory across multiple sales channels. Ordoro is mostly used by eCommerce businesses as it drives efficiency in every operation involved in a multichannel sales process.

Ordoro’s Key Features

• Automated Shipping Label Creation: Ordoro simplifies shipping by automatically creating and printing shipping labels. This saves time and reduces mistakes.
  
  
• Order Routing and Fulfillment: The platform automatically sends orders to the most suitable fulfillment location, whether it’s your warehouse or a third-party provider. This helps to save shipping costs and speed up delivery.
  
  
• Dropshipping Support: With Ordoro, you can sell products without keeping inventory. The platform automatically sends orders to your suppliers, who ship directly to your customers.

Ordoro’s Pricing

• Essential plan: Starts at $0 per month
• Advanced plan: Begins at $59 per month
• Premium plan: Starts at $149 per month.

8. Shopify POS: Best for Analyzing Inventory and Compiling Reports.

Shopify POS tool enables you to smoothly manage your online and physical stores on a single platform. This way, you'll avoid handling multiple catalogs, payment methods, and inventory systems. 

With centralized online and in-store orders and customer data, you can easily offer your customer local pickup options, process returns and exchanges, implement loyalty programs, and sell gift cards in any location. 

This retail inventory management software also simplifies the entire inventory management process. It helps to make purchase orders for vendors and suppliers while it tracks outgoing and incoming stock. Shopify POS alerts users when stock levels are low, and factors in sales trends and vendor lead times. 

Additionally, it provides detailed performance analyses of products. The tool highlights the products that are selling the ones that aren't selling out fast. This information helps users to make informed inventory planning decisions for future purposes.

Shopify’s Key Features 

• Omnichannel Selling: Shopify POS helps users to integrate their online and in-store sales processes by centralising orders, inventory and customer data. This enables customers to have a consistent shopping experience across channels.
• Smart Inventory Management: The tool makes inventory control easy by automating stock tracking across all locations. This ensures users have the accurate update on all the inventory that's available in the store. 
• Detailec Inventory Analysis and Reporting: The software provides well detailed inventory reports to help users to make informed decisions. These reports show sales trends and the products that are selling out fast and those that aren't performing well.
• Low Stock Reports: The system ensures users can always meet customer demand by alerting users when stock levels are low. 

Pricing

• Basic plan: Goes for $32 per month
• Shopify plan: Goes for $92 per month.
• Advanced plan: Begins at $399 per month.
• Plus plan: Begins at $2900 per month.

9. Lightspeed Retail: Best For Advanced Inventory Management 

Lightspeed Retail is a cloud-based inventory management software that is primarily built to help retailers improve inventory control. The tool is highly scalable and reliable for modern retail operations. 

The retail inventory management software provides different features, including inventory management, detailed reporting, customer management, multi-location compatibility, and staff management. 

The software simplifies operations by centralizing tasks based on employee roles. Managers can access the Manager tab to handle daily administrative tasks, while cashiers have a streamlined POS Mode profile focused solely on sales. 

This clear role-based separation reduces distractions and errors, making it easier for employees to focus on their specific responsibilities. As a result, new hires can easily learn how to use the tool without the need of formal training. 

Lightspeed Retail Key Features

• Inventory management: Users can easily create product variations such as size, color and material by using the efficient matrix system. The tool allows users to easily create, track and assign serial numbers to products.
• Lightspeed payments: With Lightspeed Payments, users can conclude sales and get payment without leaving their point-of-sale system. It also provides fraud prevention features and PCI compliance.
• Integrated eCommerce: Users can make sales both online and in-store with Lightspeed eCommerce. 

  Lightspeed Retail Pricing

• Basic Plan: Costs $109 per month. 
• Core Plan: Costs $179 per month.
• Plus Plan: Stats at $339 per month. 

10. Thrive by Shopventory: Best For Detailed Inventory Reports

Thrive by Shopventory helps retailers, wholesalers, and e-commerce businesses manage and optimize their inventory. The retail inventory management software enables users to create purchase orders and assign products to the right vendors, optimizing workflows across the organization.

The tool automatically detects low inventory levels and sends email notifications to enable users to place orders and also monitor other operational procedures.

The retail stock management software also offers users digital spreadsheets for managing manual stock counts or reconciliation worksheets to print item lists.

Shopventory’s Key Features

• Inventory and sales report: Shopventory offers robust reporting for companies with one or hundreds of locations. Focuses on remaining stock, inventory valuation, precise profitability, and more.
• Vendor Management: Users can assign products to your vendors with Thrive vendor management for easy reordering. Thrive stores contact information and internal notes for convenient access. 
• Bundles: Shopventory can mix several items together and keep track of the stock when you sell the final product.

Shopventory’s Pricing

• Standard plan starts at $99 per month
• Professional plan costs $249 per month
• Elite plan costs $499 per month
• Enterprise plan costs $999 per month.

11. NetSuite: Best For Multi-location Businesses 

NetSuite retail inventory management software is a good choice for big multi-location brands. The platform offers real-time visibility across multiple locations and sales channels, helping businesses optimize inventory levels and reduce costs. 

For big businesses wishing to consolidate their data into a single platform, NetSuite is a great option due to its advanced features. NetSuite has a built-in financial management solution that tracks financial data and automates accounting activities to help organizations' efficiency.

Shopventory’s Key Features

• Billing: If you have several clients, partners, or vendors, NetSuite can help you streamline your billing process. The platform offers you freedom and control over your charging process. You can also create and manage subscriptions and recurring billing using the billing function.

• Revenue Recognition: NetSuite helps you comply with accounting standards to report financial results promptly. The revenue recognition services let you swiftly schedule, calculate and report revenue on financial statements.
• Financial Planning and Reporting: NetSuite's financial planning and reporting features are informed by big data analysis. With its integrated planning and budgeting features, NetSuite can assist with budgeting.

Shopventory’s Pricing 

• Prices start at $99 per user per month.
• Includes a $999 per month licensing fee, plus a per-user fee that starts at $99 a month.
• You can request a quote.

12. Unleashed: Best For eCommerce Retailers

Unleashed is a retail inventory management software that helps eCommerce retailers and other businesses owners to manage inventory. The software provides full visibility and control over inventory to enable users to manage purchasing, production, and sales efficiently. 

Unleashed integrates with over 30 other systems, including accounting and CRM platforms for smooth operations, increased productivity and improved efficiency. Plus, the retail stock management system allows you to accurately track stock in real-time across different locations. 

Unleashed’s Key Features

• Real-Time Inventory Control: Provides visibility into stock levels and movements across multiple locations.
• Purchasing and Supplier Management: Automates purchase orders and tracks supplier performance.
• Sales and Order Management: Manages sales orders, invoicing, and customer relationships efficiently.
• Comprehensive Reporting and Analytics: Generates customizable reports on sales, stock performance, and margins.

Unleashed’s Pricing

• Medium Plan: Begins at $380 per month.
• Large Plan: Starts at $710 per month.
• Large Plus Plan: Starts at $1,080 per month.

13. SimpliField: Best For Mobile Integration 

SimpliField is the first software to fully integrate with a mobile platform. The software is great for retail operations, advanced performance analytics and internal communications. 

SimpliField helps businesses to manage their inventory with features like customizable dashboards and real-time data analytics. The software provides tools for real-time analytics, employee communication and task management for effective collaboration across teams. 

SimpliField Provides users features like KPI dashboards, store performance monitoring, and inventory management. This helps users to cut costs and improve customer experiences. 

For example, the tool allows users to customize the dashboard to show the information they need for their operations. 

SimpliField Features 

• Real-time Data and Analytics: Provides customizable dashboards to track store performance for informed decision making. 
• Task Management: Helps to create and track task progress across multiple store locations. 
• Store Audits and Visits: Simplifies scheduling of store visits to ensure each location is well attended to
• Employee Communication: Provides told to enable employees to communicate one-on-one or via group chats. 

SimpliField Pricing

• Contact sales for a quote.

14. Microsoft Dynamics: Best For AI-Powered Forecasts

Microsoft Dynamics retail inventory management software helps retailers to effectively manage inventory by providing real-time data on inventory levels across different locations.

This enables businesses to effectively monitor their stock level and make timely decisions on when to restock and the right amount that's needed. The software automates different inventory related tasks like purchase orders, restocking, and order management.

This helps users to reduce manual errors and save time for other tasks. Microsoft Dynamics uses intelligent algorithms to analyze market trends and historical sales data to make forecasts on future demands.

This helps users to maintain the right inventory levels and avoid stockouts or overstocking. The software is highly scalable and allows users to adjust inventory management processes without incurring high overhead costs.

Microsoft Dynamics Features

• Demand Forecasting: The tool uses AI to analyze previous sales to accurately predict demand. 
• Omnichannel Integration: Synchronizes inventory across multiple sales channels to ensure consistent product availability and reduced cases of overselling.
• Real-time Inventory Tracking: Provides detailed information on the inventory available and stock that are moved across different locations. 
• Automated Restocking: Enables automated triggers for purchase orders based on defined parameters. 

Microsoft Dynamics ERP Pricing

• Contact sales for a quote.

15. Sortly: Best For Tracking and Organizing Inventory 

Sortly is a retail inventory management software that's suitable for small businesses to manage their inventory, including supplies, materials, tools, and equipment. 

The solution is easy to use for tracking and categorizing goods using barcodes, QR codes, and photos.

The tool allows you to create an inventory QR code from your mobile phone.With a focus on mobile accessibility, this inventory control software offers easy access to inventory data on a variety of mobile devices. You can easily manage your inventory while on the move using Sortly's mobile app.

Sortly’s Key Features  

• Offline mobile access: This feature helps you track and update inventory on the mobile app even when you're offline or out of coverage. 
• Visual Documentation and Tracking: This feature makes it possible to track the appearance and condition of your stock, enabling easier identification and organization of your inventory.
• Customizable categories: This makes business process organization easier. You can customize user access, role permissions, units of measurement, and other parameters. 
• Activity history report: This feature lets you monitor what happens and who does anything as regards your inventory.
• Integrations with shipping companies and major sales channels make information circulation faster as all development from different channels is received directly.

Sortly’s Pricing

Sortly has a monthly and yearly plan. When you subscribe to the annual plan, you save some money, but if you cannot subscribe for the entire year, you can subscribe monthly for a slightly higher charge.

• Free plan: Available for free. 
• Advanced plan: Goes for $49 per month. 
• Ultra plan: Costs $149 per month.
• Premium plan: Costs $299 per month.
• Enterprise: Available when you request a quote.

Benefits of Using Retail Inventory Management Software 

Inventory management software for retail stores offers many benefits for businesses. Let's look at some benefits of the software. 

1. Enhanced Efficiency

Retail inventory management software automates repetitive tasks like stock counting, reordering, and data entry. This enables businesses to free up their staff to focus on other strategic and value-added activities, such as improving customer service or analyzing market trends. This also leads to faster order processing where customers receive their orders on time for increased operational efficiency and customer satisfaction.

2. Real-Time Updates

Modern software provides accurate and most current data on stock levels, product locations, and order statuses. These real-time updates allow businesses to respond quickly to changes, like reallocating inventory to high-demand areas or placing orders for stock before it runs out. 

3. Detailed Analytics

Such a software includes advanced analytics tools that generate detailed reports on stock movements, sales patterns, and turnover rates. This data allows businesses to identify trends, such as seasonal demand or underperforming products, and make the right decisions. For example, managers can use this information to adjust their inventory strategies, reduce waste, and manage storage space.

4. Cost Savings

Retail inventory management systems allows business owners to maintain the right amount of inventory and reduce carrying costs and storage fees. It also allows for automation to reduce the need for additional labor and other operational expenses. Furthermore, retail inventory management software reduces waste by helping businesses to effectively allocate resources.

5. Better Demand Forecasting

Advanced retail store inventory software helps users to analyze previous sales reports and market trends to make accurate demand forecasts. This information helps businesses predict their inventory needs, have the right products in the right quantities and at the right time. This reduces the risk of over-purchasing products and increasing profits by aligning inventory with actual demand.

Improve your Retail Inventory Management with Xenia

With the right retail inventory management software, you can efficiently track inventory, monitor sales, and improve your customer service. You can carefully read through the list we've provided to choose the tool that suits your business needs. 

Top on our list of retail management solutions is Xenia.

And this is because of its effectiveness in managing inventory and other retail operations. Xenia goes beyond traditional inventory management.

The inventory management system for retail provides advanced features that enables you to streamline inventory tracking, forecasting, and restocking for effective stock management. Want to know why Xenia is the best retail stock management system for your business?

‍Sign up for a demo today.