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Inventory management is one of the most time-consuming business operations that require extensive resources, personnel, and spending. Technology allows businesses to adopt efficient management solutions to reduce their spending and resource consumption. Mismanagement in inventory handling can result in order cancelations, product shortages, and revenue losses in millions of dollars.
Free inventory management software offers numerous advantages for retail enterprises, vendors, and suppliers. The potential for ROIs is immense, and it can enhance management and customer service considerably.
With a few simple clicks, managers and personnel can track, record, and manage inventory in a highly efficient manner. Software manufacturers issue updates to track inventory and identify shortages ahead of time. A cloud-based inventory management software will power your business with automation and considerably reduce the risk of cancellations and revenue losses.
This article will walk you through the best, user-friendly, and free inventory management software to help you make the right choice for your business. Here, take a look:
inFlow Inventory
Designed for businesses of all shapes and sizes, this inventory management software allows businesses to manage around 100 products and clients. The free version is deployed on-site, and it offers various features, such as sales orders, purchase orders, barcoding, count-sheets, and more.
Its payment tracking features allow businesses to track real-time details of all pending and completed transactions. Users can also benefit from features such as multiple user logins, work orders, managing serial numbers, and bills of materials (BOM).
The barcode inventory system is indeed the unique selling point of inFlow. This feature considerably simplifies inventory management by making stock checks quicker and easier. Businesses can scan the barcode to identify the item, examine stock levels, and make the necessary corrections.
This software has proven highly effective at inventory forecasting to prevent inventory shortages or undesired surpluses. It allows integration with other e-commerce tools to enhance efficiency and explore online management solutions. InFlow is a highly viable inventory management solution for small businesses operating in retail, electronics, constructing, and manufacturing industries.
ZhenHub
A cloud-based solution, ZhenHub is designed to deliver logistics and inventory management tools for small and medium-scale enterprises (SMEs). The free version is highly advantageous, and it supports warehouse management, inventory tracking, and recording shipments.
The shipping tracking and management features of this software deserve a special mention for their ability to reduce delays and enhance efficiency. These features allow smooth integration with numerous shipping solutions, including FedEx and DHL. Businesses can easily track, schedule, and manage their shipments with any given shipping provider.
The free version of this software supports one warehouse management and around 50 orders each month.
Zoho Inventory
Zoho Inventory is a cloud-based tool that supports remote inventory and warehouse management with its competitive features. The free version allows businesses to manage 12 shipments, 1 warehouse, 20 online orders, and 20 offline orders. It also allows businesses to select and manage their shipping providers.
The free version also comes with competitive workflow management features that trigger alerts for inventory shortages. This feature is useful for retailers that require prompt replenishment of products.
Zoho Inventory is quite famous for its automating features, purchase order, expense tracking, and sales order features. The shipping management features are also quite beneficial in scheduling and tracking inventory locations. The overall experience is user-friendly, and this tool is highly recommended for businesses operating in the IT, manufacturing, and retail sectors.
Sortly Pro
Sortly Pro is another cloud-based software that allows you to sort out your inventory from anywhere and everywhere. The free plan allows users to manage around 100 entries each month with one user login. It provides product tagging and cataloging, enabling businesses to create well-defined catalogs to make product tracking more manageable.
The free version comes with various advantages, but the paid versions offer QR code tagging, customized branding, activity tracking, and more. Sortly Pro’s smartphone app makes remote inventory management and order tracking incredibly straightforward. Its barcode and serial number tracking features are also highly advantageous in ensuring efficiency and productivity.
Odoo
An open-source Enterprise Resource Planning (ERP) software, Odoo is designed for businesses from all industries and sectors. This ERP solution comes with a highly efficient and standalone inventory management module. Obtaining the full-suite Odoo platform offers incredible tools for business management, project management, and CRM.
Odoo’s inventory management software is highly recommended as it is easily integrated with accounting solutions. It makes it easier to reduce the time delays associated with manual transactions and streamline inventory tracking and payment details. Odoo has a thriving community forum and customer service assistance to address queries and complications.
Conclusion
Choosing the right inventory management software for your business is not an easy decision to make. It is vital to do your research and discover the right fit for your business needs. You can start by shortlisting the problems you’re facing while managing inventory and what features you feel would be an apt solution.
Ask yourself important questions. How many orders do you receive each month? How many products do you deal with? What are the aspects that create inefficiencies during the process? What is the annual budget for an inventory management solution, or do you need a free version to reduce costs?
Keep in mind that the free version comes with limited functionalities and that you would eventually be better off with the added benefit paid software provides.
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