Top 17 Inventory Management Apps of 2022

Select from the top-rated inventory management app and keep your business organized and running smoothly.

iAuditor
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Published 5 Sep 2022

What is an Inventory Management App?

An inventory management app is a digital tool used by inventory managers to ensure that stocks, raw materials, and supplies are sufficient to meet production and consumer demands. Proper inventory management is important for businesses regardless of industry as it is directly linked to a company’s ability to make a profit and it can help streamline your inventory management process through easy smartform customization, powerful data analytics, and fast reporting. Also referred to as Inventory Management Software, a good inventory management app should generate detailed reports, showcase data analytics, and help users leverage the two to gain actionable business insights for effective decision-making.

Importance of Using an Inventory Management App

The value of inventory is integral in any goods-based business. It helps prevent operational issues such as stockouts or overstocking, and any other issues that can contribute to business loss or failure. Having proper inventory management can benefit the business in many ways, such as:

  • Effective inventory control
  • Better inventory planning and ordering
  • Better customer service
  • Reduce product loss from theft, spoilage and returns
  • Gain better insight on financial standing, customer behaviors and preferences, product and business opportunities, trends and more.

Many businesses across the world, large or small, still perform their inventory management using the traditional method of pen and paper. While this may have worked, the process has been proven to be inefficient. The process took a significant amount of time and was vulnerable to inaccuracy.

With the traditional method being ineffective, businesses have moved to smarter work strategies and services. Mobile applications such as inventory management apps can help with inventory-related tasks by providing ease of access and showing changes in real-time, empowering people to work more efficiently. 

The ease of using a digital inventory template can also help in assessing the current assets to identify if stocks are sufficient for business’ deliverables. Using a handheld device helps to capture photo evidence and assign corrective actions immediately to avoid overproduction, product spoilage, or inadequate supplies. 

Benefits

Handling inventory and orders can take up a lot of time, especially as the business grows bigger. That’s why more and more businesses are choosing to convert from manual inventory to digital inventory management. The top benefit of going digital is that applications and software are jam packed with features that helps save time. These digital tools also ensure that data is free from human error.

Choosing the Right Inventory Management Software

There are different factors that should be considered before deciding which inventory management software best fits your business. Think about the features you may need, the price, and also your business size. 

Features

The list above presents numerous top features to look out for when deciding on the right inventory management application. The features common among the apps in the list include stock notifications, integrations, ability to create unique barcode/QR, and order trackers. Exclusive features, such as ones for enterprise or higher-tier accounts, include support for large-scale inventory, multiple locations, and high security.

Some of the aps listed are geared toward product sales such as Shopify and ShopKeep, with inventory management working as a database of current stocks. iAuditor and its smart sensors effectively control inventory by tracking real-time quality and quantity of stocks and raw materials .  Interested users that know what specific features they need but can’t seem to find the perfect fit should try software options that offer customization such as Caspio.

Pricing and Cost

Depending on the features, the average pricing for inventory management software ranges from $10 per user per month to $500 for a lifetime license.

Licenses only give the right to use the software and not ownership, which limits the user to the specified terms and conditions. Software subscribers are account holders that pay every billing period to use the product. When the plan ends, the user will lose access to the software or application until they renew or continue to pay for the plan.

Generally, inventory management software is priced based on the number of:

  • Iicenses; 
  • users;
  • product listings (SKUs), stocks, and raw materials;
  • fulfilled orders;
  • Iocations (branches of facilities, warehouses, factories); and
  • devices used.

Business Size

To choose the right inventory management system, you also have to consider the size of your teams. Putting people at the forefront of business decisions helps you make sure that you’re empowering employees with the right tools, enabling them to do their jobs more efficiently. Here are some suggestions for what inventory management system to choose based on company size:

Small – This business size should consider free inventory management applications first since most offer free features that fit small businesses. Companies that fall under this category can easily choose and switch between applications.

Medium – Considered the “in-between business size,” this business size can benefit from features offered by most inventory management software. The problem is choosing which software to use and what price point is fair. A great way to do so is to choose software that offers free trials of their premium accounts. Some can even offer to extend the trial until you reach a decision. 

Large – Software solutions that offer enterprise accounts should be the main consideration in choosing an inventory management system for a company this size. It’s also important to check if the software offers full flexibility, customization, and support.

This article covered everything you needed to know about inventory management app/software. Overall, the inventory management software your business chooses to integrate with your system should make inventory more efficient and accurate.

Robertson Paredes

SafetyCulture staff writer

Rob Paredes

Rob Paredes is a content contributor for SafetyCulture. He is a content writer who also does copy for websites, sales pages, and landing pages. Rob worked as a financial advisor, a freelance copywriter, and a Network Engineer for more than a decade before joining SafetyCulture. He got interested in writing because of the influence of his friends; aside from writing, he has an interest in personal finance, dogs, and collecting Allen Iverson cards.

Rob Paredes is a content contributor for SafetyCulture. He is a content writer who also does copy for websites, sales pages, and landing pages. Rob worked as a financial advisor, a freelance copywriter, and a Network Engineer for more than a decade before joining SafetyCulture. He got interested in writing because of the influence of his friends; aside from writing, he has an interest in personal finance, dogs, and collecting Allen Iverson cards.