Inventory management software is not a want, but a need of distributors, retailers, and wholesalers. This is especially true for large warehouses storing items in bulk. And of course, even for small-time retailers, inventory management software can be useful.
In this article, we will cover all the pain points faced by wholesalers and distributors and the best inventory management software they can use, to solve those issues effectively.
Let’s get started!
What Is An Inventory Management Software?
Inventory management software is a crucial tool for businesses to efficiently track, organize, and manage their stock of goods and materials.
This software automates the process of monitoring inventory levels, orders, and sales, providing businesses with real-time insights into their supply chain. Its primary function is to streamline inventory-related tasks, ensuring that companies maintain optimal stock levels while minimizing excess or shortages.
Inventory Management In ProfitBooks
ProfitBooks Inventory Management System is a good example of such software, as it handles all the tasks mentioned above without using your computer’s storage. As a cloud software, it tracks all your sales orders, items stored in your inventory, and much more!
What Are Its Main Uses?
The main uses of inventory management software include inventory tracking, order management, and demand forecasting. It allows businesses to monitor stock movements, update product availability, and generate detailed reports on inventory performance.
By automating order processes, the software helps prevent stockouts and overstock situations, optimizing cash flow.
Additionally, advanced features such as demand forecasting use historical data to predict future demand, assisting businesses in making informed decisions about procurement and production.
Overall, inventory management software enhances operational efficiency, reduces human errors, and contributes to cost savings. Its user-friendly interfaces and analytical tools empower businesses to make data-driven decisions, ultimately improving customer satisfaction and competitiveness in the market.
Top 5 Inventory Management Software For Wholesalers & Distributors
We have curated this list by comparing all possible features, the popularity of the tool, usability, and most importantly; pricing. After comparing all industry-standard inventory management tools, we’ve boiled it down to five software, that we think cover everything that super stockers may need.
1. Oracle NetSuite
Oracle Netsuite – Home Page
NetSuite is like a behind-the-scenes wizard for online stores, especially those dabbling in different markets. They specialize in ecommerce and are feature-packed. It’s like having a superhero for your ecommerce business.
This tool brings together a bunch of tasks and makes them run on autopilot, making your business life way smoother. Thanks to NetSuite’s nifty features for handling orders and bills, everything money-related, from sales to getting things to customers, becomes a breeze.
And here’s the cool part: with NetSuite, you can play Tetris with your products, organizing, tweaking, and stashing them in different places online. It’s like having a super-organized virtual warehouse that works seamlessly with NetSuite’s bag of tricks.
Oracle NetSuite User Interface
Pricing:
NetSuite does not have a pricing page on its website, because they have custom pricing plans.
We’ve scoured the internet to find the closest average pricing models that they have for their multiple products.
Before we move ahead, you should know that NetSuite is an expensive software.
If you want to know the exact cost, just have a chat with one of the Oracle salespeople. They’ll whip up a personalized quote based on things like how big your company is, what industry you’re in, and what exactly you need.
From what we found, the starting point is around $99 per user per month, plus an extra $999 each month for licensing.
But remember, that’s just a ballpark figure – your actual expenses might be quite different. So, best to have that chat to get the nitty-gritty on what it’ll cost you.
2. SYSPRO ERP
SYSPRO ERP – Home Page
If your business involves a lot of making or distributing stuff each day, SYSPRO ERP is a great fit for you. It’s like a customizable toolkit for companies, letting you build a program that fits your needs.
For those in wholesale distribution, the warehouse and invoicing tools in SYSPRO ERP are super handy. With this software, you can easily keep tabs on orders, handle them efficiently, and deal with purchases from both local and global suppliers. It’s your go-to solution for managing everything smoothly.
Pricing:
The pricing for SYSPRO ERP Inventory Management Software is divided into five parts. Let’s break it down:
- Subscription/Customization Cost: It kicks off at $199 per user each month. Keep in mind, though, the more extra features you want, the higher the cost. And if you’re into the whole on-premise installation thing, be ready to shell out at least $12,000 to get started.
- Maintenance: You can get help from customer support through SYSPRO Reseller Channel and SYSPRO Partners. The vendor also offers in-house support to tailor assistance according to each customer’s needs.
- Software Installation & Configuration: Setting up the system incurs an extra expense. SYSPRO offers implementation services through its SYSPRO Reseller Channel, staffed by certified professionals, and SYSPRO Partners.
The implementation cost depends on factors like the number of users, system structure, the extent and complexity of implementation, company size, industry, and whether your company needs any third-party integrations. - Data Migration: These extra expenses will differ based on what software you’re currently using, how much data needs moving, the tools available for migration, the intricacy of the data, and any differences between your current system and the new one.
- Additional Renewal Cost: So, whether you go for the first or second option, how much it’ll set you back depends on how many user licenses you grab and the extra expenses like software updates, support, tweaking things to fit your needs, and getting everything to work together smoothly.
The reason why ProfitBooks trumps SYSPRO ERP in costs is that we’ve made it easy. One fixed cost per month, and an annual cost at the same rate with a 17% discount! Our pricing plans start from ZERO and go up to a mere ₹4,999/- annually.
The best part?
You have to pay no additional cost for software setup, and data migration, and you get free consultation from our in-house Chartered Accountants for technical and accurate information.
Let’s look at our favorite tool for distributors and wholesalers in this list!
3. ProfitBooks
ProfitBooks – Retail Inventory Management Software
Meet ProfitBooks, your ultimate sidekick for seamless inventory management from purchase to sales. Trusted by thousands of traders and manufacturers, ProfitBooks is the go-to cloud-based system that effortlessly automates your unique workflows, and fast-tracks purchase requisitions with just a click.
No more double data entry headaches – ProfitBooks smoothly connects with accounts payable, cash management, and inventory. Say goodbye to human errors and hello to enhanced efficiency.
Key Features:
- Effortless Workflow Automation:
– Track your entire inventory lifecycle, from purchase to sales.
– Cloud-based system for easy and accessible management.
– Automated purchase requisitions to accelerate processes. - Streamlined Purchase and Sales:
– Convert Purchase Orders to Purchases with just one click.
– Integration with accounts payable, cash management, and inventory to eliminate double data entry.
– Error reduction and enhanced efficiency.(Learn more about our Purchase Management System)
- Efficient Sales Order Management:
– Easily create and manage sales orders with a flexible workflow.
– Partial order fulfillment and invoicing for delivered items.
– Organize orders effortlessly according to projects for efficient tracking.(Learn more about Order Management in ProfitBooks)
- Complete Manufacturing Visibility:
– Monitor the entire manufacturing process from raw material purchase to finished goods production.
– Record raw material consumption, production, and account for inventory wastage.
– Seamless tracking of inventory transfers between warehouses with a bill of materials maintenance.(Learn more on Manufacturing Inventory Management)
- Multi-Warehouse Management:
– Create and manage multiple warehouses for optimal tracking.
– Warehouse-wise stock reports for accurate overviews.
– Centralized handling of supplier management and inventory management for cost savings.(Learn more on Warehouse Management)
- Powerful Reports for Informed Decisions:
– Instant access to critical reports such as inventory valuation, low stock, pending orders, and stock wastage.
– 45+ fully filterable reports for detailed insights.
– Real-time information at a glance for quick decision-making. - Easy-To-Use Interface:
– No more juggling between tools – ProfitBooks is your all-in-one solution.
– Effortlessly navigate through powerful features.
– Ideal for distributors and wholesalers seeking simplicity and efficiency.
Experience the ease of ProfitBooks – where automation meets user-friendly design for a superior inventory management experience.
Pricing:
- Startup Plan: FREE Forever at ₹0/month per user or $0/month per user.
– Supports Single User
– Create up to 25 Invoices Per Month
– Manage up to 100 Customers
– Track up to 25 Products or Services - SMB Plan: ₹499/- per month or ₹4,999/-per year, and for our international users, our pricing starts from $15/- per month, or $150/- per year
– Supports Unlimited Users
– Create Unlimited Invoices
– Manage Unlimited Customers
– Track Unlimited Products or Services
Check out our pricing plans here.
ProfitBooks is by far, the most relevant inventory tool for wholesalers and distributors. The pricing plans are the best part, as they are super affordable and start 100% FREE!
Get your free account now, and try the software, before you subscribe to it.
4. TradeGecko by Intuit
TradeGecko Interface For Inventory Management
We know that Quickbooks by Intuit has stopped providing its services in India, which is a major setback for the company to leave the largest market in the world. However, their other tool, TradeGecko, is a pretty good inventory management system.
TradeGecko is also known as QuickBooks Commerce, by the way.
Ideal for businesses handling both wholesale and direct-to-consumer sales, QuickBooks Commerce is your go-to solution for automating day-to-day tasks and unlocking growth opportunities.
With QuickBooks Commerce’s user-friendly inventory management system, take command of your inventory, orders, and customer interactions – all in one convenient platform.
By entrusting operational tasks to QuickBooks Commerce, small business owners can not only boost sales but also operate more intelligently. Now, with the luxury of time on their side, they can redirect their focus towards expanding and elevating their business.
Pricing:
QuickBooks keeps changing its pricing at different times of the year. Their base pricing is always the same, however, discounts change the value slightly.
Currently, during the holiday season, TradeGecko by QuickBooks is at the following pricing plans:
- Simple Start: $9/month
– Free guided setup
– Income and expenses
– Invoice and payments
– Tax deductions
– General reports
– Receipt capture
– Mileage tracking
– Cash flow
– Sales and sales tax
– Estimates - Essentials: $18/month
Everything in Simple Start +
– Enhanced reports
– Receipt capture
– Mileage tracking
– Cash flow
– Sales and sales tax
– Estimates
– Contractors
– Connect 3 sales channels
– Includes 3 users
– Bill management
– Enter time - Plus: $27/month
Everything in Essentials +
– Comprehensive reports
– Receipt capture
– Mileage tracking
– Cash flow
– Sales and sales tax
– Estimates
– Contractors
– Connect all sales channels
– Includes 5 users
– Bill management
– Enter time
– Inventory
– Project profitability - Advanced: $60/month
Everything in Plus +
– Powerful reports
– Receipt capture
– Includes 25 users
– Bill management
– Project profitability
– Data sync with Excel
– Employee expenses
– Batch invoices and expenses
– Custom access controls
– Workflow automation
– Data restoration
– 24/7 support & training
– Revenue recognition
5. Acumatica
Acumatica Dashboard
Meet Acumatica – your all-in-one software wizard that brings together key business functions like finance, distribution, field service, manufacturing, and CRM. This is more of a business software, than a specific inventory management software for wholesalers and distributors, however, their features and usability are on point, which is why it deserves a spot in this list.
Whether you’re working on-site or floating in the cloud, Acumatica is your versatile sidekick, perfectly tailored for companies, especially the small and medium-sized champs.
Now, let’s talk about the magic of Acumatica’s Distribution Management Suite.
It’s like the perfect dance partner with the Financial Management Suite, creating a powerful duo for your distribution needs.
Picture this: seamless management of everything from purchase requisition to payment and quote to cash processes.
Currently, over 5000 customers are tapping into this solution – the secret sauce to streamline your business operations.
Pricing:
You won’t find Acumatica pricing out in the open because it’s tailored to your business. To get the scoop on how much it’ll cost for your specific needs, like licensing and transaction volume, reach out to an Authorized Acumatica Reseller. They’ll hook you up with a detailed quote, covering everything from software to training and implementation costs, based on what you require.
After scouring Quora to look for users who have posted Acumatica’s pricing, we know that they have just ONE pricing plan and you get all features forever. It’s a purchase of the software rather than a subscription.
According to Quora reviews, Acumatica’s ballpark figure would be anywhere between $30,000 to $50,000 one-time fee.
Conclusion
Managing a wholesale business is no easy feat.
The good news?
You can ease your workload and reclaim precious time by leveraging a wholesale management system. This software has your back, providing everything necessary for a thriving wholesale operation. Take the reins, customize your workflow, and prioritize customer satisfaction to pave the way for speedy business growth and expansion.
Managing inventory for wholesalers, distributors, and retailers means switching to ProfitBooks; your one-stop-shop for all accounting problems.
We have thousands of wholesalers using our inventory management software, and after taking the pain points of all of them, we’ve tuned our software to be perfected to solve inventory problems.
We’d recommend that you try our software for FREE, for as many months as you want…hell, use it for FREE for even a year or a lifetime!
That’s what we stand for; providing industry-standard service for little to no cost.
Get your 100% FREE account now!
Also Read:
Retail Inventory Management Best Practices
Top 10 Free Inventory Management Software For Your Small Business
How To Choose An Inventory Management Software?
What Causes Inventory Inefficiency & How to Avoid It?
