Best Inventory management software for
small and medium businesses

While this will depend on your business model, scale and workflows, your inventory app should:

• Track your stock on hand, its value, and your profit/loss based on FIFO, LIFO or Weighted Average logic (depending on which method you use for your business).

• Provide end-to-end order management, from capturing an order, to receiving the goods from your suppliers, to packing and delivering them to customers.

• Allow you to bundle items together and make composite supplies.

• Allow you to use bar code scanners, serial numbers, batch numbers, manufacturing part numbers, and SKU numbers.

• Warn you about items that are about to go out of stock in your inventory and allow you to reorder efficiently.

• Offer multi-location stock tracking and keep track of stock transfers.

• Work hand-in-hand with your accounting software to help you stay on top of your cashflow and taxes at all times.

• Provide friendly and straightforward support to help you get unstuck.

Again, this will depend on your business. Before you look for a new solution, think about how you currently keep track of your inventory and what is lacking (in other words, your pain points). Look for the qualities listed in the previous answer before pursuing any software provider. Once you've found a few prospective solutions, give their pre-sales teams your list of pain points and requirements so that they can do a full compatibility test before you invest hours in optimizing it for your business.