The Very Best Inventory Management Software for Shopify in 2024

Shopify - Empower Your Commerce Journey

Shopify is a comprehensive commerce platform designed to empower entrepreneurs across the globe to build, run, and grow their businesses seamlessly. Trusted by millions, Shopify caters to businesses of all sizes—from startups to large enterprises—by providing a robust and scalable solution for both online and in-person sales. Entrepreneurs can craft their brand and establish an online presence using Shopify's intuitive drag-and-drop store builder, customizable templates, and a vast array of business apps.

One of Shopify's standout features is its marketing and sales capabilities, which enable merchants to reach a broader audience through SEO optimization, social media integrations, and personalized email campaigns. The platform's world-class checkout process ensures higher conversion rates, while its flexible Point of Sale (POS) system bridges the gap between online and offline retail, syncing inventory and sales data in real-time.

Shopify also offers comprehensive business management tools, including advanced analytics, inventory management, and a dedicated shipping and fulfillment network. Entrepreneurs can manage their finances with ease using Shopify Balance and secure necessary funding through Shopify Capital. The platform's built-in features and extensive API support make it easy to integrate with third-party apps and tailor solutions to specific business needs.

To support ongoing growth, Shopify provides 24/7 customer support, a rich library of educational resources, and a vibrant community of developers and partners. With flexible pricing plans starting at just $1 for the first month, Shopify offers a cost-effective solution to launch and expand your business, making it a preferred choice for entrepreneurs worldwide.

Benefits

• Making Commerce Better for Everyone: Discover why millions of entrepreneurs chose Shopify to build their business — from hello world to IPO.
• Your Store, Your Way: Build an online storefront with our drag-and-drop store creator. No coding expertise required — just your next big idea.
• Sell to Every Buyer, Everywhere: Reach millions of shoppers through multiple sales channels including social media, online, and in-store.
• The Best-Converting Checkout on the Planet: Back your business with Shop Pay, the one-click checkout that's built to convert.
• Flexible Point of Sale: A POS system that allows customers to shop their way, from online to checkout line.
• Built-in Marketing Tools: From first touch to full funnel, find new shoppers with SEO, social media, and content marketing tools that help you reach customers where they are.
• Centralized Business Operations: Streamline your back office by managing inventory, tracking payments, and viewing real-time business insights—all in one place.
• Merchant Obsessed: Connect with a community of brands, partners, and fellow merchants who understand Shopify.
• The Help You Need, When You Need It: Get all the marketing and business strategy tips you need with 24/7 support, how-to guides, business courses, and more.
• Grow Your Business Here: Choose from flexible plans as your business scales. Start free and access the tools you need to build, manage, and market your business.

Pricing Info

• Try Shopify free for 3 days, no credit card required. After the trial, choose a plan that fits the size and stage of your business.
• The Basic plan starts at $29 USD per month billed yearly with features like the world’s best checkout, in-person selling tools, multiple sales channels, in-depth analytics, and commerce apps. Earn up to $5,000 in subscription credits.
• The Shopify plan is priced at $79 USD per month billed yearly and includes everything in Basic plus more advanced reports and professional reports. Earn up to $7,500 in subscription credits.
• The Advanced plan costs $299 USD per month billed yearly and adds advanced report building and third-party calculated shipping rates. Earn up to $10,000 in subscription credits.
• For high-volume merchants and complex businesses, Shopify Plus offers custom pricing starting at $2,300 USD per month on a 3-year term with additional enterprise-level features. Contact for pricing and details.
• A yearly subscription discount of 25% is available for the Basic, Shopify, and Advanced plans, providing significant savings. Terms apply.

Lightspeed Retail - The Ultimate POS & Commerce Solution

Lightspeed Retail is a comprehensive point of sale (POS) and commerce platform designed to support various industries, including retail, hospitality, and golf.Lightspeed Retail is trusted by businesses in over 100 countries and operates in approximately 165,000 locations worldwide. The platform facilitates seamless transactions, evidenced by customers processing $90.7 billion in gross transaction volume (GTV) in fiscal 2024.The platform offers a wide range of features tailored specifically for each supported industry:

• Retail: Unified commerce for seamless customer experiences, advanced inventory management, employee and customer management tools, and robust reporting and analytics. It integrates with leading accounting software, ERP systems, and marketing tools. Retail businesses can benefit from 24/7 support and personalized onboarding.
• Hospitality: An iPad POS for mobility, offline capabilities, automated inventory and ordering, employee scheduling, and customer loyalty programs. The system offers real-time reporting and extensive training resources.
• Golf: Specialized tools for managing tee sheets, pro shop operations, and food and beverage services, with detailed customer management and real-time insights to boost performance.

Benefits

• Streamlines operations: From inventory management to customer interactions.
• Elevates output quality: Provides real-time insights and detailed reporting.
• Saves time: Automation and seamless integrations reduce manual tasks.

Simplified Pricing Info

Retail POS:
Basic Plan: $89/month
Core Plan: $149/month
Plus Plan: $289/month
Restaurant POS:
Starter Plan: $69/month
Essential Plan: $189/month
Premium Plan: $399/month
Additional costs may apply for extra locations, registers, and payment processing fees. Custom rates are available to meet unique business needs. Lightspeed Retail provides a scalable, intuitive, and highly supportive platform, making it a robust choice for retail, hospitality, and golf enterprises worldwide. Regular webinars, demo sessions, and a community forum offer ongoing learning and support.

Oracle NetSuite ERP - The One-Stop Solution for Business Management

Oracle NetSuite ERP is a robust, AI-driven cloud business management solution designed to streamline and optimize various core business processes. Trusted by over 38,000 customers globally, NetSuite ERP helps organizations manage their accounting, order processing, inventory management, production, supply chain, and warehouse operations from a single, integrated platform. Offering real-time visibility into operational and financial performance, NetSuite ERP empowers companies to make better decisions, drive innovation, and stay competitive in a rapidly evolving market.

NetSuite ERP's unique features make it an indispensable tool for businesses looking to reduce manual processes, gain comprehensive insights, and achieve tighter control over their operations. The system facilitates effortless management of multiple subsidiaries, business units, and legal entities, and provides real-time visibility at local, regional, and headquarter levels. Additionally, customizable dashboards, reports, and visual analytics allow users to access both summary-level overviews and in-depth accounts of business activities.

Seamless Integrations and Global Reach

Seamless integrations are a key advantage of NetSuite ERP, ensuring businesses can scale and adapt their ERP capabilities in line with growth objectives. NetSuite supports over 27 languages and 190 currencies, making it an ideal choice for companies operating on a global scale. With options for customizable subscription terms and tailored pricing plans, including industry-specific packages, NetSuite ERP offers flexibility to meet the diverse needs of small to large enterprises.

Rapid ROI and Comprehensive Resources

By automating core business processes and providing extensive management tools, NetSuite ERP delivers a rapid return on investment and reduces the time to value. Comprehensive resources including product demos, customer stories, data sheets, and educational guides assist businesses in leveraging the full potential of the platform. NetSuite's commitment to enhancing business performance has made it a preferred ERP solution for organizations worldwide.

Benefits:

• Make Better Decisions: Access financial, operational, and transactional data from across the organization. Easily customize dashboards, reports, and visual analytics to provide a summary-level overview or an in-depth account of business activity.
• Simplify Your Business: Manage accounting, inventory, operations, distribution, and more from a single application. Automate manual processes to save time and free up resources to better serve customers, identify new opportunities, and outpace the competition.
• Run a Global Business With Ease: Effortlessly manage multiple subsidiaries, business units, and legal entities with one ERP solution. Get real-time visibility at local, regional, and headquarter levels, and standardize business processes across all divisions and subsidiaries.
• Transform Financial Management: Transform your general ledger, optimize accounts receivable, automate accounts payable and streamline tax management. Get a complete view of cash flow and financial performance.
• Optimize Inventory Management: Automate the management of your inventory. Keep inventory costs low while meeting customer delivery expectations. NetSuite delivers tools for tracking inventory in multiple locations, determining reorder points, managing replenishment, and optimizing safety stock.
• Streamline Supply Chain: Streamline order processing by eliminating manual bottlenecks, preventing errors and establishing a smooth flow from sales quote to order fulfillment. Optimize warehouse operations with advanced capabilities like wave management, cartonization, cycle count planning, and real-time inventory updates.
• Centralized Procurement: Buy goods and services at the best price and in a timely manner. Save time, reduce costs, and improve visibility into spending and vendor performance by centrally managing procurement. Ensure clear communication throughout the procure-to-pay process.
• Faster Time to Value: NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices that pave a clear path to success and are proven to deliver rapid business value. Go live in a predictable timeframe with smart, stepped implementations that span the customer lifecycle.

Simplified Pricing Info:

Users subscribe to NetSuite for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for initial setup. As your business grows, you can easily activate new modules and add users—that's the beauty of cloud software.
- Get started now with Industry Editions of NetSuite ERP that include accounting capabilities and modules to address industry-specific needs.
- NetSuite Pricing Calculator allows you to calculate your exact user cost and explore advanced modules tailored to your business requirements.
- NetSuite offers flexible subscription-based licensing with customizable contractual periods. Annual subscriptions provide flexibility for budget reassessment, while multi-year options often come with discounted pricing and cost predictability benefits.

Sumtracker - Perfect Inventory Management for E-commerce

Sumtracker is a robust inventory management platform specifically designed to streamline operations for e-commerce merchants. The tool enables seamless synchronization of inventory across multiple e-commerce platforms such as Shopify, Amazon, Etsy, eBay, BigCommerce, and WooCommerce, providing accurate and real-time updates across all sales channels. With sophisticated features like bundle and kit management, comprehensive purchase order workflows, and insightful inventory reports, Sumtracker simplifies the complexities involved in managing stock.

One of Sumtracker's standout functions is its multi-location inventory management, which includes low stock alerts and incoming stock tracking to prevent overselling and stockouts. The software also excels in managing product variants and supports bulk updates, aiding in maintaining precise inventory levels with ease. Additionally, its 'Close at Quantity' feature ensures products are automatically marked out of stock at specified quantities, and API access connects Sumtracker with other tools for enhanced workflow automation.

Benefits:

• Streamlines inventory management processes.
• Elevates inventory accuracy and operational efficiency.
• Saves time on updating inventory levels and managing stock.

Simplified pricing info:

Sumtracker offers flexible pricing plans starting from $39 per month for up to 250 orders (Starter Plan), to $99 per month for up to 1,000 orders (Growth Plan). Larger businesses with tailored needs can opt for a custom-priced Enterprise Plan. A 30-day free trial is available to explore all features.

Cin7 Orderhive - The Ultimate Inventory Management Solution for Shopify

Cin7 Orderhive is an all-in-one, cloud-based inventory management software tailored for small to medium-sized businesses across sectors such as manufacturing, retail, wholesale, and e-commerce. With two main solutions – Cin7 Core and Cin7 Omni – it aims to streamline business operations and enhance efficiency. Cin7 Core focuses on inventory management, POS, B2B portals, commerce integration, and basic accounting, while Cin7 Omni adds advanced features for order management, multi-channel sales support, and return management. Both versions include robust reporting and integration with popular platforms like Amazon, Shopify, QuickBooks Online, and Xero.

Cin7 Orderhive stands out thanks to its real-time inventory tracking capabilities, workflow automation, and detailed analytics. It supports seamless communication with third-party logistics providers through native EDI and 3PL integrations and offers compatibility with various e-commerce platforms and accounting systems.

Though Cin7's pricing requires contacting the company for a customized quote, it provides comprehensive plans with standard features like warehouse management and manufacturing capabilities. Add-ons such as B2B portals, RMAs, automation, and mobile applications enhance its appeal, offering businesses the customization and scalability they need.

While the interface might initially seem complex, experienced users benefit greatly from its in-depth functionality. Cin7 Orderhive is designed to streamline processes, improve operational efficiency, and enhance customer experience, making it a valuable asset for growing businesses.

Benefits of Cin7 Orderhive for Shopify Users:

• Streamlines inventory management across multiple locations.
• Enhances order processing and fulfillment efficiency.
• Supports multi-channel sales integration, including platforms like Shopify and Amazon.
• Provides comprehensive reporting and analytics for informed decision-making.
• Facilitates smooth operations with EDI and 3PL integrations.
• Offers mobile POS capabilities for versatile sales tracking.
• Simplifies customer order tracking and return management.
• Includes customizable B2B portal for improved customer interaction.
• Integrates seamlessly with accounting software like QuickBooks and Xero.
• Ensures scalability to handle business growth efficiently.

Simplified Pricing Info:

While exact pricing in dollars isn't directly provided, contacting Cin7 for a quote will get you tailored pricing based on your business needs. All plans feature:

• Standard warehouse management and manufacturing capabilities.
• Accounting integrations with Xero or QuickBooks Online.
• Ecommerce and app integrations covering a wide range of sales channels and services.

Additional feature add-ons include:

• Customizable B2B Portal
• Point of Sale (mobile device compatibility)
• RMA for streamlined returns
• Automation for recurring tasks
• API and Flex API for high-volume sales processing
• Mobile applications
• Machine learning and AI-powered features
• EDI/3PL Connections

User access varies with different plans, and additional user access can be purchased to suit specific business requirements.

Benefits of Using  Inventory Management Software for Shopify

• Real-Time Inventory Tracking: Get accurate, up-to-the-minute information on inventory levels across multiple channels and locations to prevent stockouts and overstock situations.
• Automated Order Fulfillment: Streamline the entire order fulfillment process, reducing manual tasks and minimizing human error to improve efficiency and customer satisfaction.
• Multi-Channel Integration: Easily manage inventory across various sales platforms such as Amazon, eBay, and physical stores, all from a single dashboard.
• Advanced Reporting and Analytics: Gain valuable insights into sales trends, inventory turnover, and demand forecasting to make better-informed business decisions.
• Customizable Alerts: Set up automated notifications for low stock levels, incoming orders, and other critical inventory activities to stay proactive rather than reactive.
• Enhanced Data Accuracy: Significantly reduce errors associated with manual data entry through barcode scanning and automated system updates.
• Supply Chain Optimization: Improve relationships with suppliers by having clear visibility into stock levels and automated reorder points, ensuring timely restocking.
• User-Friendly Interface: Benefit from an intuitive and easy-to-navigate interface, reducing the learning curve for staff and improving productivity.
• Seamless Shopify Integration: Enjoy smooth integration with Shopify, offering real-time synchronization of inventory, orders, and customer data to enhance overall operational efficiency.
• Scalability: As your business grows, the software can effortlessly scale to meet the increasing demands, accommodating more products, orders, and warehouse locations.
• Cost Savings: Reduce inventory carrying costs and prevent losses due to unsold stock or inefficient warehouse management, ultimately improving your bottom line.
• Improved Customer Satisfaction: Ensure that your customers receive their orders promptly and accurately, leading to better reviews and increased customer loyalty.
• Mobile Access: Manage your inventory on-the-go through mobile apps, enabling flexibility and enhanced control over your operations anytime, anywhere.
• Multi-User Access: Grant different levels of access to multiple users within your team, promoting collaboration while maintaining control over sensitive data.
• Robust Security: Protect your business data with advanced security features, ensuring that your information remains safe and secure at all times.
  

Frequently Asked Questions (FAQs) about Inventory Management Software for Shopify

1. What are the key features to look for in inventory management software for Shopify?

The best inventory management software for Shopify should offer real-time inventory tracking, automated stock level updates, multi-channel inventory synchronization, easy integration with Shopify, robust reporting and analytics, support for barcode scanning, and efficient order management capabilities. It's also beneficial if the software provides forecasting and demand planning tools and has a user-friendly interface.

2. Why do I need inventory management software for my Shopify store?

Inventory management software helps you keep track of your stock levels, prevents overstocking and stockouts, and streamlines your order fulfillment process. It ensures that you have the right amount of stock at the right time, improves your cash flow, and enhances overall operational efficiency. This leads to better customer satisfaction and can significantly boost your sales and profitability.

3. Can inventory management software integrate with other tools and platforms?

Yes, most leading inventory management software solutions offer integrations with various tools and platforms. These can include accounting software, ERP systems, third-party logistics (3PL) providers, and different sales channels (such as Amazon, eBay, and brick-and-mortar POS systems). Integration capabilities ensure a seamless flow of information and eliminate manual data entry, offering greater accuracy and efficiency.

4. How does inventory management software help with order fulfillment?

Inventory management software automates the order fulfillment process, reducing human error and speeding up operations. It can automatically allocate stock to orders, generate picking lists, and integrate with shipping providers to streamline packing and dispatching. Real-time inventory updates ensure that your stock levels are accurate across all sales channels, preventing overselling and enhancing customer satisfaction.

5. Is it possible to manage inventory for multiple Shopify stores using a single software?

Yes, many advanced inventory management software solutions allow you to manage inventory across multiple Shopify stores from a single dashboard. This multi-store management feature provides centralized control over stock levels, pricing, and order fulfillment, simplifying operations and improving efficiency.

6. How does inventory management software support dropshipping?

Inventory management software can integrate with your dropshipping suppliers, automatically syncing inventory levels and order details between your Shopify store and the suppliers. This automation helps ensure that your product listings are up-to-date and that orders are accurately and promptly processed, improving the reliability of your dropshipping business.

7. What kind of businesses benefit most from inventory management software?

Businesses of all sizes that deal with physical products can benefit from inventory management software. This includes e-commerce stores, brick-and-mortar shops, wholesalers, and manufacturers. The software is particularly beneficial for businesses with complex inventory needs, such as those managing multiple locations, a large product catalog, seasonal stock variations, or multiple sales channels.

8. How expensive is inventory management software for Shopify?

The cost of inventory management software can vary widely based on features, scale, and the level of customization required. Some solutions offer tiered pricing plans based on the number of users or orders processed per month. It's essential to evaluate your specific needs and budget and choose a solution that offers the best value for your investment.

9. Can I try inventory management software before purchasing?

Yes, most inventory management software providers offer free trials or demo versions. These allow you to explore the features, evaluate the user interface, and understand how the software aligns with your business processes before making a purchase decision.

10. What kind of support and training is available for inventory management software?

Reputable inventory management software providers offer comprehensive support options, including online documentation, video tutorials, live chat, email support, and phone support. Some providers also offer onboarding and training sessions to help you and your team quickly get up to speed with the software and utilize its full potential.