Inventory Management Software

What is Inventory Management Software?

The basic function of inventory management software is to allow any business dealing with physical goods to effectively track, store, sort and manage their stock. Inventory management apps facilitate the logistical management of products, automating processes related to ordering, costing, transportation, storing, assembly, shipping and delivery. These apps give you a clearer overview and greater control over your product flow.

Inventory management tools are beneficial across industries, from manufacturers and suppliers to wholesalers and retailers. Manage stock across any stage of the supply chain process from the warehouse to the storefront. These applications are beneficial to businesses dealing with large quantities of products among multiple warehouses. They also cater to small business owners, shopkeepers and retailers, along with e-commerce store owners.

Common functionalities of inventory management software include automated repeat purchase ordering and batch ordering, alerting when stocks are running low, reporting on quality control, and the electronic sorting of product types. These business applications also track the movement of stock between warehouses and storage locations, along with the delivery and final shipment of goods.

By using an inventory management application to generate recurring orders you can avert issues such as over-ordering and under-ordering of stock and parts. Avoid excess storage costs by using capacity management tools to keep on-top of space in storage locations. With track and trace features such as barcode scanning you can monitor how long products remain at various locations, follow product transportation and ensure timely delivery.

Use the returns management and quality control management tools common to these applications to further improve your business performance. Communication among field workers and on-site staff can be augmented by using one common software to comment on orders and send notes to one another.

Detailed reports can be generated to give you a clearer overview of the inventory management cycle and alert you to any snags in the process. Historical data can help you identify trends and calculate future demand plans. Sales intelligence data can help with cost control and equip you with key business information.

Key Features & Benefits

  • Keep inventory reports up-to-date
  • Sort and organize products by type
  • Solve storage issues
  • Automate repeat purchasing
  • Manage stock levels and replenishment
  • Manage stock across multiple locations
  • Monitor stock transfers, shipping and delivery
  • Get real-time reports on orders and inventory

Inventory Management Category Leaders Q3 2018

GetApp's quarterly ranking showcases the leading 10-15 Inventory Management apps based in the cloud. Each app is scored using five factors, worth 20 points each, for a total possible score out of 100. These factors include user reviews, integrations, mobile app availability, functionality, and security. Each app's score is independent of commercial interests and existing relationships that GetApp has with app vendors.

Scroll down for more details about inclusion criteria and scoring.

ReviewsIntegrationsMobileFunctionalitySecurity

What is Category Leaders?

GetApp's Category Leaders graphic identifies leading cloud-based software products in the Inventory Management software category. If you’re a business owner or decision maker who is evaluating Inventory Management technology options for your company, Category Leaders is for you.

The ranking highlights key factors that small businesses should consider when assessing which software products may be right for them. These factors include user perception (“user reviews”), compatibility with other systems (“integrations”), mobile offerings (“mobile”), technical capabilities (“functionality”), and product security (“security”).

To create each Category Leaders ranking, our research team typically evaluates hundreds of products in any one category. The 10-15 with the highest scores become Category Leaders.

What makes a product eligible for Category Leaders?

Category Leaders is focused on the North American Inventory Management software market. To be eligible for inclusion, products must offer a core set of functionality, as determined by our research analysts, who provide coverage of and have familiarity with products in that market. Please see the “Functionality” section below for additional details on the core set of functionality we define for the Inventory Management market.

Since Category Leaders is intended to cover the Inventory Management market at large, individual analysts use their market experience and knowledge, existing market-based research, and small business software buyer needs analysis to assess an application's suitability for a given category depending on whether it can reasonably be expected to be relevant to most small business buyers across industries searching for a system with a strong focus on Inventory Management capabilities.

In addition, a product must have at least 20 unique user-submitted product reviews across the three Gartner Digital Markets web properties: softwareadvice.com, capterra.com, and getapp.com, and those reviews must be published within 18 months of the start of the analysis period. The analysis period for the Q3 2018 Category Leaders update is December 22, 2016 to June 22, 2018.

How are the scores calculated?

An app's score is calculated using five unique data points, each scored out of 20, resulting in a total score out of 100. The ranking and scoring methodology ensures complete impartiality and independence from any relationships that GetApp has with app vendors.

User Reviews

Review scores are calculated using weighted reviews collected from GetApp and its sister sites, Software Advice and Capterra. This score is based on average user ratings (on a scale from 1 to 5) of how satisfied users are with a product overall. The scoring includes ratings left within the previous 18-month period; ratings that are more recent are weighted more heavily.

The methodology calculates the percentile ranking for each product relative to all other products in the software category that have qualified for inclusion. That percentile ranking is then translated into a 1 to 20 score.

Integrations

Integration scores factor in a number of variables. Up to 16 points are awarded based on the number of integrations an app has. The first 10 points are awarded based on the number of integrations relative to the category average, while 4 points are awarded based on the number of integrations relative to the leaders in the category. An additional 5 points is awarded for an integration with Zapier, a widely used software integration platform, while an extra point is given for having an open API. The total possible score for integrations is 20 points.

Mobile Platforms

Mobile scores are calculated based on the availability of an iOS and Android app. Five points are awarded for the presence of each app, with an additional 10 points awarded for the number and average rating of reviews in both the App Store and Google Play. These review scores are calculated on a scale based on the category average for a maximum of 5 points per platform and an overall maximum score of 20.

If there isn't a native iOS or Android app, the product's website is assessed using Google's PageSpeed Insights to measure mobile usability. A score out of 100 is given, then scaled to a score out of 5 for a maximum of 5 points.

Functionality

Functionality scores are assigned based on a combination of two assessments: user ratings and functionality breadth data.

Fifty percent of the score is based on average user ratings on a scale from 1 to 5 of how satisfied users are with the product’s functionality. The scoring includes ratings left within the previous 18-month period; ratings that are more recent are weighted more heavily.

The methodology calculates the percentile ranking for each product relative to all other products in the software category that have qualified for inclusion. That percentile ranking is then translated into a 1 to 10 score.

The other 50% of the score is based on a functionality assessment of the product. For each software category, our research analysts define a core set of features that a product must offer, as well as additional “nice-to-have” common and optional features. For the Inventory Management category, we identify the following set of features:

  • Core features: inventory control, inventory auditing, and product categorization.

  • Common features (at least two of the following): barcoding/RFID/electronic scanning functionality, order management, traceability, and reporting and statistics.

  • Optional features: purchase order management, demand forecasting, vendor managed inventory, cost tracking, custom pricing options, kitting, inventory replenishment, serial number tracking, shipping management, supplier management, transfer management, and warehouse management.

Products are assessed according to how many of those pre-defined features they offer, and products with more features receive a higher score. We use this data to calculate a product's percentile ranking, which allows us to determine how products compare relative to one another rather than determine an absolute number.

All told, a vendor can receive up to 10 points based on user ratings and up to 10 points based on the features assessment for a total maximum score of 20 for “functionality.”

Security

Security scoring is calculated using answers from a vendor-completed survey. The questions in the survey are based on the Cloud Security Alliance self-assessment form as part of the Security, Trust & Assurance Registry, supplemented by the expertise of our security research experts. Each answer in the 16-question survey is assigned a point value. The scoring then calculates the percentile ranking for each product relative to all other products in the software category that have qualified for Category Leaders consideration. That percentile ranking is then translated into a 1 to 20 score.

In the event of a tie, each data point is weighted for importance, with security taking precedent, followed by reviews, integrations, mobile apps, and functionality, respectively.

External Usage Guidelines

Providers must abide by the Category Leaders External Usage Guidelines when referencing Category Leaders content. Except in digital media with character limitations, the following disclaimer MUST appear with any/all Category Leaders reference(s) and graphic use:

GetApp Category Leaders constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, GetApp or its affiliates.