What is a cloud inventory management system and how can it benefit you in managing your stocks? Here’s the explanation.
Cloud-based inventory management is basically a system that allows you to monitor and maintain inventory levels using online software.
The system effortlessly keeps track of inventory flowing in and out of your organization.
It also allows firms to avoid many of the inaccuracies and issues that can come with traditional ways of gauging stock levels.
What are the benefits of cloud-based inventory management?
Keeping the correct stock levels is critical to your company’s success. For numerous reasons, switching to a cloud-based inventory management system might be the best idea for your business.
1. Stock levels are updated in real-time
A cloud-based inventory management system can tell you exactly how much inventory you possess on hand.
Inventory management software that is cloud-based can notify you if you have enough stock to meet your demand estimate or if you need to order more.
This is a critical indicator for determining customer satisfaction and avoiding stockouts.
2. Minimizes error
Cloud-based inventory management, moreover, eliminates errors and the risk of stock walking.
Because the software is automated, it eliminates the possibility of human error.
An order can be completed without the use of human labor, from stock reaching its reorder point through placing an order and sending it to the supplier, saving up your team’s time.
3. Automation
A cloud-based solution automates the supply chain so that order execution such as when the stock reaches its reorder point to making an order and delivering it to the supplier can be completed without using human labor.
This allows your team to focus on higher-level decisions and priorities.
4. Safety and security
When using cloud-based inventory management, the security of valuable information is ensured: no data backup on storage devices is required because all data is securely stored on the cloud remotely.
Any changes made are stored promptly, and the service provider ensures security by keeping the cloud inventory management software up to date to prevent cyber attacks.
5. Reporting and analytics
One of the hardest components of running a business is demand forecasting, especially in understanding how much stock to order in the future based on how much it’s selling now.
Inventory management systems in the cloud analyze your data and generate automatic reports so you can make data-driven business decisions.
6. On-hand historical data
Finally, inventory management provides you with a narrative about your company.
You won’t know what sells well, what doesn’t, and how you can adjust this to develop your business unless you keep track of the quantities of things you’ve bought, sold, and held.
Can cloud-based inventory management software help your company grows?
Inventory management software that is cloud-based is efficient and effective since it allows you to manage inventory on the move and eliminate stock errors.
When it comes to efficiency, cloud-based inventory management software recognizes the demands of today’s fast-paced corporate world and puts all of your inventory data at your fingertips.
While riding in the back of a taxi to your next sales meeting, you may log into the system on your mobile device or tablet with a single click to produce stock reports, complete audits, perform stock takes, and access stock movement history.
Cloud-based inventory management software not only saves you time, but it also properly maintains your inventory, reducing errors and preventing product from going missing.
Stock management software, which replaces spreadsheets and the inaccuracies that come with human data entry, tracks how inventory travels across your whole firm.
An audit trail activity stream is available for all items and variants, allowing you to see exactly which products traveled where and when.
It’s a win-win situation because excellent inventory management decreases the number of stock takes you’ll have to do, lowers warehouse costs, and allows you to focus on the essential business duties that truly need your attention.
Mekari Jurnal, A Solution for Your Cloud Inventory
Maintain business performance by keeping track of inventory availability using inventory management or warehouse management software that provides product reports and storage in a quick, easy, and real-time manner such as Mekari Jurnal.
Jurnal comes with some features such as:
- Product Bundling: Bundle products comprising main and sub-products to create attractive deals for clients.
- Inventory Management: Find information about product availability in the warehouse quickly and conveniently.
- Multi-Location Warehouses: Determine and track the total quantity of items in your various storefronts.
Exploring the Top 10 Cloud-Based Inventory Management Software Solutions
In the ever-evolving landscape of business and commerce, efficient inventory management is paramount to success. The ability to seamlessly track, organize, and optimize inventory can make the difference between a thriving business and one struggling to keep pace. Fortunately, the digital age has ushered in a new era of inventory management, thanks to cloud-based solutions. In this comprehensive review, we will delve into the top 10 cloud-based inventory management software solutions available in 2023. Each of these platforms offers unique features, advantages, and use cases, catering to the diverse needs of businesses across various industries.
1. Linnworks: Precision in Stock Forecasting
Website: Visit Linnworks
Reviews: 66 reviews
Demo: Free demo available
Pricing: Upon request
Why Choose Linnworks?
Linnworks takes the top spot in our list of cloud-based inventory management solutions for its exceptional stock forecasting capabilities. Designed with multi-channel selling in mind, Linnworks leverages historical sales data to predict future stock requirements, ensuring that businesses stay ahead of the curve.
Standout Features & Integrations
Noteworthy features of Linnworks include a powerful automation system that synchronizes inventory levels, updates order statuses, and generates shipping labels automatically. This automation saves valuable time and reduces the likelihood of errors. Linnworks also offers real-time consumption data insights, helping businesses understand what’s selling across various channels.
The extensive list of integrations includes major platforms such as Amazon, BigCommerce, Magento, Shopify, and more, along with compatibility with popular shipping carriers and fulfillment centers. This broad integration spectrum ensures seamless operations for businesses with a diverse online presence.
Pros & Cons
Pros:
- Multi-channel support for over 70 channels.
- High scalability and flexibility.
- Multilingual support.
Cons:
- No free trial.
- Pricing transparency could be improved.
2. SkuVault: The All-in-One Inventory Management Solution
Website: Visit SkuVault
Reviews: 14 reviews
Demo: Free demo available
Pricing: Starting from $359 per month
Why Choose SkuVault?
SkuVault secures the second position on our list as an all-encompassing inventory management system. It excels in efficiently monitoring and managing inventory levels, automating order fulfillment, and optimizing supply chain operations.
Standout Features & Integrations
SkuVault offers barcode scanning capabilities and robust reporting features. It seamlessly integrates with leading online sales channels, including Shopify, Amazon, and eBay, allowing businesses to maintain centralized inventory control across multiple platforms. Real-time inventory management ensures accurate stock levels, reducing the risk of selling out-of-stock products.
The platform’s data-driven insights assist businesses in making informed decisions regarding inventory management, including identifying slow-moving items, tracking seasonality trends, and optimizing stock allocation. Barcode scanning simplifies inventory tracking and management, ensuring precision.
Pros & Cons
Pros:
- Onboarding and customer training included with all plans.
- User-friendly interface.
- Customizable cataloging options.
Cons:
- Limited overall customizability.
- Additional fees for extra training.
3. Odoo Inventory: Multi-Echelon Inventory Optimization
Website: Visit Odoo Inventory
Reviews: 35 reviews
Trial: 15-day free trial + free plan available for one app.
Pricing: Starting from $24.90 per user per month
Why Choose Odoo Inventory?
Odoo Inventory secures the third position on our list, known for its multi-echelon inventory optimization capabilities. This cloud-based solution seamlessly integrates critical inventory control functions with broader business operations.
Standout Features & Integrations
Odoo Inventory boasts real-time tracking capabilities that provide accurate stock visibility across multiple locations while minimizing errors through barcode integration and task automation. The platform empowers businesses with insightful reporting and analytics, facilitating data-driven decision-making.
One of Odoo Inventory’s standout features is its ability to optimize inventory levels across multiple facilities, considering transit times and interdependencies. This advanced capability reduces excess inventory, lowers transportation costs, and enhances overall supply chain efficiency.
Pros & Cons
Pros:
- Ease of use.
- Features that reduce human errors.
- Manages multiple warehouses.
Cons:
- Limited user-friendly documentation.
- Barcode app needs improvement.
4. Zoho Inventory: Simplified Inventory Management
Website: Visit Zoho Inventory
Reviews: 70 reviews
Trial: 14-day free trial + free plan available
Pricing: Starting from $79 per month
Why Choose Zoho Inventory?
Zoho Inventory takes the fourth spot on our list, acclaimed for its exceptional ease of use. This cloud-based solution simplifies inventory management, offering a seamless and intuitive experience.
Standout Features & Integrations
Zoho Inventory’s user-friendly interface streamlines tasks such as product setup, stock monitoring, and order processing. The platform provides a well-organized dashboard and comprehensive reporting capabilities, empowering users to gain valuable insights and make informed decisions efficiently.
The platform’s integration with over 25 shipping services, including FedEx and DHL, enables users to gather quotes and track shipping statuses seamlessly. Zoho Inventory’s mobile app allows for on-the-go order updates and management.
Pros & Cons
Pros:
- Affordable pricing.
- Easily customizable.
- Fits a wide range of business needs.
Cons:
- Technical support may need improvement.
- Some features can be slow.
5. Sage X3: Enterprise Resource Planning Excellence
Website: Visit Sage X3
Reviews: 2,503 reviews
Demo: Free demo available
Pricing: Upon request
Why Choose Sage X3?
Sage X3 earns the fifth spot on our list, known for its enterprise resource planning (ERP) functionality. This cloud-based inventory management solution offers advanced features for businesses.
Standout Features & Integrations
Sage X3’s modular design allows for customization and scalability, making it suitable for various industries, including manufacturing, distribution, and services. The platform centralizes critical operations such as finance, inventory, procurement, production, and sales, providing real-time insights into business operations.
Advanced reporting and analytics capabilities empower users to generate accurate insights and data-driven decisions. Sage X3’s forecasting tools offer real-time inventory data for informed forecasting, helping to avoid stockouts and reduce overstocked inventory.
Pros & Cons
Pros:
- Robust set of features.
- Effective quality control processes.
- Capable of handling multiple companies’ stock.
Cons:
- Financial reporting could be stronger.
- Standard version lacks document management.
6. inFlow Inventory: Managing Inventory Across Locations
Website: Visit inFlow Inventory
Reviews: 35 reviews
Trial: 14-day free trial
Pricing: Starting from $49.80 per user per month
Why Choose inFlow Inventory?
inFlow Inventory secures the sixth position on our list, renowned for its user-friendly approach to inventory management. This cloud-based solution excels in efficiently tracking and managing stock levels, orders, and sales.
Standout Features & Integrations
inFlow Inventory simplifies inventory planning by allowing businesses to create a centralized inventory database that syncs across all platforms and locations. The platform’s reorder point feature notifies users when a product line reaches predefined inventory levels, preventing stockouts and maximizing sales potential.
The mobile app turns a smartphone into a barcode scanner, facilitating stock adjustments and transfers between stores. inFlow Inventory offers integrations with popular platforms such as Amazon, Shopify, WooCommerce, and accounting software like QuickBooks and Xero.
Pros & Cons
Pros:
- Inventory trajectory tracking.
- Well-designed key features.
- Custom alerts based on predefined inventory levels.
Cons:
- No API access.
- iOS app may lack some functionality.
7. Fishbowl: Workflow and Process Traceability
Website: Visit Fishbowl
Reviews: 186 reviews
Demo: Free demo available
Pricing: Upon request
Why Choose Fishbowl?
Fishbowl secures the seventh position on our list, known for its workflow and process traceability capabilities. This inventory management system excels in enhancing workflow efficiency and reducing errors.
Standout Features & Integrations
Fishbowl streamlines inventory-related tasks, including order management, manufacturing, purchasing, and warehouse management, by automating and integrating these processes. The platform simplifies the creation of simple and multi-level orders, ensuring precise fulfillment. It also offers real-time data on inventory flow throughout the manufacturing process.
Shipping integrations with logistics providers like FedEx and UPS, along with a well-organized dashboard, provide users with all the necessary data to manage orders effectively. Fishbowl offers integrations with popular sales platforms, including Amazon, Shopify, eBay, and Magento, along with CRM and accounting tools.
Pros & Cons
Pros:
- Easy to use.
- Real-time inventory visibility.
- Remote user access.
Cons:
- Limited customizability.
- Pricing may be steep for smaller businesses.
8. Cin7 Omni: B2B Multichannel Inventory Management
Website: Visit Cin7 Omni
Reviews: 54 reviews
Demo: Free demo available
Pricing: Starting from $399 per month
Why Choose Cin7 Omni?
Cin7 Omni earns the eighth spot on our list for its B2B multichannel inventory management capabilities. This cloud-based solution facilitates seamless inventory management for both B2B and B2C sellers.
Standout Features & Integrations
Cin7 ensures that B2B sales channels are seamlessly connected to popular B2C stores, enabling efficient buying, selling, and scaling of inventory. The platform offers comprehensive reporting features to track sales and inventory, providing insights into each individual sale’s fulfillment.
Cin7 integrates with a vast array of third-party stores and marketplaces, including major retailers like Walmart and Costco, as well as specialty stores like Sephora and Ace Hardware. The platform connects to essential e-commerce systems, marketing tools, accounting software, and logistics platforms.
Pros & Cons
Pros:
- Handles multiple sales channels and distribution networks.
- Offers a vast number of integrations.
- User-friendly.
Cons:
- Possible delays in customer support.
- Longer loading times in some cases.
9. MRPeasy: Manufacturing-Centric Inventory Management
Website: Visit MRPeasy
Reviews: 7 reviews
Trial: 30-day free trial
Pricing: Starting from $49 per user per month
Why Choose MRPeasy?
MRPeasy secures the ninth position on our list, known for its inventory management tailored to manufacturers. This cloud-based solution simplifies tracking orders, stock levels, purchasing history, and pricing information, centralizing this data for businesses.
Standout Features & Integrations
MRPeasy offers user-friendly barcode scanning tools for accurate tracking and reporting of stock locations, SKUs, and batches throughout the warehouse lifecycle. Users can create purchase orders for multiple vendors simultaneously, track them until they are received and invoiced, and generate shipping labels with ease.
The platform provides an array of dashboards and reports, offering insights into inventory performance metrics such as reorder points, lead times, and safety stock levels. Customizable dashboards allow businesses to tailor their inventory tracking to specific needs.
Pros & Cons
Pros:
- Flexible functionalities to cater to unique business needs.
- Affordable option for SMBs.
- Automated production planning features.
Cons:
- Customer support not accessible by phone.
- May lack some specific features due to simplicity.
10. Sortly: Inventory Management for Small Businesses
Website: Visit Sortly
Trial: 14-day free trial + free plan available
Pricing: Starting from $49 per month
Why Choose Sortly?
Sortly rounds out our list as the best inventory management solution for small businesses. This user-friendly cloud-based platform simplifies tracking and organizing inventory with its visual and customizable features.
Standout Features & Integrations
Sortly’s visual cataloging system allows businesses to organize inventory items using photos, facilitating quick visual identification and retrieval. Customizable fields enable businesses to capture relevant information for each item, tailoring inventory tracking to specific needs.
The platform’s robust barcode scanning capabilities streamline inventory management, enabling users to scan items, track stock levels, and conduct quick audits. Sortly also supports sharing inventory lists and exporting folders.
Pros & Cons
Pros:
- Ability to share inventory lists.
- Ease of adding new inventory items.
- Ability to export folders.
Cons:
- Limited reporting capabilities.
- Lack of a dedicated location section.
Conclusion
In conclusion, cloud-based inventory management software solutions have revolutionized the way businesses manage their inventory, allowing for greater efficiency, accuracy, and scalability. Each of the top 10 solutions listed above offers unique features and advantages, catering to businesses of various sizes and industries.
When choosing the right cloud-based inventory management software for your business, it’s essential to consider your specific needs, budget, and integration requirements. Whether you’re a multi-channel retailer, manufacturer, or a small business owner, there’s a cloud-based inventory management solution on this list that can help streamline your operations and drive success in 2023 and beyond.
