Inventory Software For Small Business

Managing inventory is one of the most critical aspects of running a successful small business. Whether you're operating a retail store, a restaurant, or an online shop, keeping tabs on your goods can help you maintain efficiency, satisfy customers, and improve your bottom line. But how do you choose the right inventory software when there are so many options out there? In this article, we will explore what makes the best inventory system for small businesses, delve into various inventory methods, and provide a comprehensive overview of both paid and free inventory software options.

What is the Best Inventory System for Small Business?

When it comes to choosing the best inventory system for your small business, you'll want software that fits your specific needs in terms of functionality, scalability, and cost. Some systems offer basic features, while others provide a comprehensive suite of tools designed to automate many aspects of inventory management.

1. Ordoro: Consistently ranked as the best inventory management software for small businesses, Ordoro offers robust features that cater to eCommerce, wholesale, and retail business models. With several hundreds of happy Shopify merchants using Ordoro, this versatile tool streamlines multi-channel management, order processing, and shipping.
2. Zoho Inventory: Ideal for small to medium-sized businesses, Zoho Inventory provides easy integration with platforms like Facebook, Etsy, and Amazon. It offers features such as order management, tracking, and reporting, which help businesses improve efficiency.
3. Sortly: Best known for its visual inventory management, Sortly allows users to organize items with photos, custom tags, and a barcode scanner. This system works well for businesses looking for a visually intuitive experience.

In choosing the best inventory system, consider factors such as user interface, integration capabilities, and customer support in addition to core features.

Which Inventory Method is Best for Small Business?

Choosing the right inventory method is equally as important as selecting the software itself. While there are several inventory valuation methods, small businesses often find two particularly suitable:

1. First-In, First-Out (FIFO): This method means that the oldest inventory is sold first. It's advantageous because it matches the actual flow of goods and is effective in tracking selling prices and inventory levels.
2. Last-In, First-Out (LIFO): While less common due to tax regulations, this approach values the most recently acquired items as sold first. It's occasionally used when businesses expect costs to rise over time.
3. Weighted Average Cost: This method averages out the cost of items sold over a period of time. It's easier to manage and minimizes price volatility impacts.

Consider the nature of your inventory and your business's financial strategies when selecting an inventory method.

How Much Does Inventory Management Software Cost for Small Businesses?

The price of inventory management software varies widely depending on the features and scalability your business requires:

1. Ordoro: Provides different pricing tiers based on functionality. Their price plans start with basic services and go up as additional features are required, suitable for growing small businesses.
2. Zoho Inventory: Offers a free plan with limited features, while more comprehensive options start at around $49 per month.
3. Sortly: Provides a free plan and a paid plan starting at approximately $39 per month for more advanced features.

When considering software cost, assess your business's needs and how the software's features match those needs. Also, consider the potential for growth and whether the software can scale with your business.

Is Zoho Inventory Really Free?

Zoho Inventory does offer a free plan, which can be particularly appealing to startups and small businesses with minimal inventory needs. The free plan allows you to manage up to 50 orders per month and includes features like tracking and order management. However, businesses typically find that as they grow, they need to upgrade to a paid plan to access essential features like integrations and advanced reporting.

Free Inventory Software for Small Business

While some inventory management systems require a subscription, there are free options that can be advantageous, particularly for businesses with straightforward needs.

1. Zoho Inventory Free Plan: As mentioned, it offers a limited yet effective range of features conducive for small businesses.
2. StockPile: A completely free web-based inventory software that provides basic functionalities such as product tracking, inventory reports, and order management.
3. Odoo: Offers a free community edition with limited features, suitable for very small businesses or startups.

While these free offerings can serve well, they usually come with limitations on the number of products or transactions you can manage.

Best Inventory Software for Small Business

Once again, when it comes to the best inventory software for small businesses, Ordoro should be at the top of the list. It is designed to handle complex eCommerce environments where shipping and logistics intertwine with inventory management seamlessly.

1. Ordoro: Offers multi-channel selling, shipping, and inventory control. Known for excellent integrations and an intuitive interface, it's a favorite among Shopify users.
2. TradeGecko: (Now part of QuickBooks Commerce) is ideal for businesses looking for a combination of inventory and order management.
3. Zoho Inventory: Works well for businesses that require straightforward integration with existing platforms.

While some may offer niche features, any of these systems can handle general inventory tasks efficiently.

Barcode Inventory System for Small Business Free

For businesses looking to implement a barcode inventory system without a hefty investment, there are free options available.

1. Sortly: Although not free entirely, it offers a free plan with its visual inventory management features where you can use barcodes for better categorization.
2. QR Inventory: Provides a free version that allows for barcode scanning and basic inventory tracking for small businesses.

These systems help increase efficiency and reduce errors by automating the scanning process, even without a high budget.

Inventory Software for Small Business with Scanner

Combining inventory software with a scanner improves accuracy and saves time. Here are some options:

1. Ordoro: The software seamlessly integrates with various barcode and QR code scanning equipment, enhancing inventory tracking and accuracy.
2. Zoho Inventory: Supports barcode scanning, allowing for quick updates of inventory counts and reducing human error.
3. Sortly: Compatible with barcode scanners, it offers enhanced inventory tracking and categorization.

Scanners often integrate directly with the software, ensuring that data remains consistent and accurate throughout.

Inventory Management Software Free

Free inventory management software can be an excellent starting point for small businesses. Here are some additional options to consider:

1. ABC Inventory: Offers comprehensive free inventory management features, including order management and assembly tracking.
2. Linnworks Free Edition: Provides an elementary level of inventory management, suitable for very small operators.

These alternatives may have limitations but can fulfill the needs of smaller operations effectively.

Free Inventory Management Software in Excel

Not every business requires specialized software. For some, a simple Excel spreadsheet can manage inventory effectively:

1. Excel Templates: Many sites offer free downloadable templates designed to track inventory, reorder levels, and sales.
2. Google Sheets: A free alternative that supports real-time collaboration and sharing.

While not as comprehensive as dedicated software, these spreadsheets can be customized to fit a business's specific needs and are often straightforward to set up.

Sortly

Sortly is another star player in the inventory management scene. Known for being a flexible and user-friendly platform, it allows businesses to visually manage their inventory with photos and tags. This visual approach can be beneficial for businesses that deal with lots of SKU numbers or items that cannot be easily categorized textually. Moreover, Sortly also supports barcode scanning and integrates seamlessly with mobile devices, making it a versatile choice for businesses of various types.

To conclude, the right inventory management software for your small business depends on your specific needs, resources, and industry. From the comprehensive capabilities of Ordoro to the visual management of Sortly and the affordability of free options like Zoho Inventory, there's certainly a solution that will fit your business perfectly. Whether you're in retail, food service, or eCommerce, effective inventory management ensures you meet customer demand without overspending on inventory itself.