Managing stock can be hard for many businesses if they do not have good systems and ways to do it. Some of the problems that businesses have when managing stock are:
- Having too much or too little stock can affect money, space, and customers
- Not knowing how much stock you have, can cause mistakes, losses, and missed chances
- Not changing your stock according to what customers want, can make you have too much or too little of some products
- Not ordering and delivering stock well, can make you slow, wasteful, and inefficient
To solve these problems, businesses use software that helps them keep track, manage, and improve their stock. These software are known as inventory management software, and plenty of them are available, each with different features and price plans. Some of them are “free” with limitations.
But it is hard to pick the best one for your needs. You want software that is inexpensive and good for your business size. You want inventory management software that can help you know how much stock you have, what you need to order, and what you sell. Don’t worry, we can help you!
In this article, I will tell you what I learned from using many different inventory management software for small and medium businesses. I will also tell you which ones are the best free inventory management software in 2024.
What is Inventory Management Software?
Inventory management software is software that helps you with your inventory. Inventory is the stuff that you have to buy and sell in your business. This software can help you do things like:
- Buy and get stuff from other people who sell it
- Know how much stuff you have and if you can sell it
- Keep your stuff in different places and move it around
- Send your stuff to the people who buy it
- Make charts and numbers that show how your inventory is doing
Inventory management software can also work with other systems that you use for your business, such as accounting, online sales, cash register, and delivery, to make your work easier and faster. Demand for inventory management software has doubled over the past five years, according to MYOS. Some benefits of using inventory management software include:
- It can save money by avoiding overstocking or running out of stock.
- It can improve accuracy by reducing errors and mistakes in counting or recording stock.
- It can increase productivity by automating tasks and making data accessible.
- It can boost sales and profits by meeting customer demand and optimizing inventory turnover.
- It can integrate with other systems and platforms, such as accounting, e-commerce, or shipping.
Free Inventory Management Software to Download in 2024
Different businesses need different kinds of software to manage their stock. You should think about what kind of business you have, how much and what kind of stock you have, how much money you can spend, what you want the software to do, how well it works with other systems, and how easy it is to use and get help.
We have made a list of 10 free inventory management software that you can use to manage your stock in 2024. We have checked them for features, quality, limitations, and user reviews.
Zoho Inventory
Zoho Inventory is one of the best inventory software that helps you manage your stock online. It is perfect for small and medium businesses that need complete and connected software to manage their stock. With Zoho Inventory, you can:
- Sell your products online and offline
- Scan and print barcodes to check and track your stock
- Track batches and serial numbers to know where your products came from and where they are going
- Ship orders from different suppliers or locations
- Manage different warehouses and move stock between them
- See reports and charts to know how your stock is doing and what you need to order
- Connect with other Zoho apps and software like Shopify, Amazon, eBay, QuickBooks, and more
Zoho has a free plan for up to 50 orders, 1 user, and 1 warehouse per month. You can also pay for more orders, users, and warehouses starting from $29 per month.
Zoho Inventory is a well-integrated inventory management system highly recommended for online retailers. It offers extensive shipping functions, and e-commerce capabilities, and supports tracking inventory across multiple warehouses. However, it only supports FIFO costing and lacks some advanced features like forecasting. Some users have found it to be the best software for inventory tracking and creating sales orders and invoices.
Odoo
Odoo is a software that lets you run your business online. It has many modules, including one for inventory management. Odoo lets you do things like:
- Use a double-entry system to know the value and location of your stock at any time
- Set rules and levels to plan when and how much to order
- Manage different types of products with different sizes, colors, and versions
- Track lots and serial numbers to know the history and expiry of your products
- Scan and print barcodes to do inventory tasks quickly and correctly
- Manage different warehouses and companies with different rules and settings
- Connect with other Odoo modules and software like WooCommerce, Magento, Xero, and more
Odoo has a free plan for up to 2 users and 1 module (such as inventory). You can also pay for more users and modules starting from $24.90 per user per month. Small and large businesses that need flexible and customizable software to manage their stock and other business needs, can use it easily to manage all their inventory.
It is praised for its ability to centralize various business functions within a unified platform, providing a significant advantage. However, its extensive integration might be complex for businesses looking for simplicity.
inFlow Inventory Software
This software can help small and medium businesses manage their stock easily. It works offline and online. inFlow inventory software allows you to:
- Keep track and control of your products, parts, and assemblies
- Scan and print barcodes to do inventory tasks fast and right
- Make bills of materials and work orders to make and assemble products
- Organize your stock in different locations and sublocations
- Make and receive orders from your suppliers and customers
- See reports and graphs to analyze and improve your stock
- Connect with Excel, QuickBooks, Shopify, WooCommerce, and more
inFlow has a free plan for up to 100 products and customers, and 1 user. You can also pay for more products, customers, and users starting from $89 per year. It is good for small and medium businesses that need simple and reliable software to manage their stock offline and online.
inFlow Inventory Software is a robust tool for managing inventory and tracking stock inflow and outflow. Users have found it to be a great tool for managing inventory, but some have mentioned initial setup complexity and needing customizations for complex use cases.
Sortly
Sortly is good for small businesses and people who need simple and easy software to manage their stock on their phones. With Sortly you can manage your stock on your phone as well. Sortly inventory management software lets you do things like:
- Keep track and manage any kind of item, such as products, assets, equipment, and more
- Scan and use barcodes and QR codes to find and access your items easily
- Add details and categories to your items with custom fields and tags
- Use photos and videos to see and check your items
- Get alerts and reminders for low stock, expiry dates, and warranty dates
- See reports and share your stock information with others
- Connect with other apps like Dropbox, Google Drive, Evernote, and more
This software has a free plan for up to 100 items and 1 user. You can also pay for more items, users, and features starting from $29 per month.
Sortly is a user-friendly inventory management solution recommended for managing everything from tools and machinery to equipment and vehicles. However, if your inventory needs are more complex, Sortly might not be the best match.
Ordoro
Ordoro is a software that helps you manage your stock online and ship your orders. Ordoro inventory management software lets you do things like:
- Sync your stock across different online platforms, such as Shopify, Amazon, eBay, and more
- Scan and print barcodes to ship your orders and update your stock quickly and correctly
- Process and ship many orders at once with automation
- Ship orders from different suppliers or locations with dropshipping and cross-docking
- Manage and connect with major shipping carriers, such as USPS, FedEx, UPS, and more
- See reports and analyze your stock and shipping performance
- Connect with other software like QuickBooks, Xero, Salesforce, and more
Ordoro is a leading platform for omnichannel order orchestration, with comprehensive features for high-volume fulfillment. It makes supply chain management a cinch, particularly good for dropshippers and businesses running tight just-in-time (JIT) systems. However, it may be complex for businesses looking for simplicity.
This inventory software is good for small and medium-sized online businesses that need powerful and efficient software to manage their stock and ship their orders. Ordoro has a free plan for up to 50 orders and 1 user per month. You can also pay for more orders, users, and features starting from $59 per month.
SalesBinder
SalesBinder inventory management software is software that helps you manage your stock online and also includes other features. It has a free plan for up to 100 items and customers, and 1 user. You can also pay for more items, customers, and users starting from $9 per month. SalesBinder can help you to:
- Keep track and manage products, services, and digital goods
- Scan and print barcodes to find and use your items easily
- Add details and variations to your items with custom fields and attributes
- Reserve and allocate your items to manage your stock availability and demand
- Manage your customers and suppliers and your relationships with them
- Create and send professional invoices and quotes
- See reports and share your stock information with others
- Connect with other apps like Stripe, PayPal, QuickBooks, Xero, and more
SalesBinder is an easy-to-use and highly customizable inventory management system. Users have found it to be a great tool for managing inventory, CRM, and Sales. However, some users have mentioned that it lacks a forecasting feature.
Overall, SalesBinder is good for small and medium-sized businesses that need software that can manage their stock and also includes other features.
Skyware Inventory
Skyware Inventory is good for small businesses and startups that need simple and low-cost software to manage their stock online. This software is capable of helping you manage your stock online. It lets you:
- Keep track and manage products and different versions of them
- Scan and print barcodes to find and use your items easily
- Make and receive orders from your suppliers and customers
- See reports and share your stock information with others
- Manage your team and their permissions
- Change and adjust the software to your needs
Skyware is praised for being easy to use, learn, and teach others. While there are a couple of frustrating things such as non-alphabetized menus, and tabbing orders that are not sequential, these are minor issues and can be overcome.
Skyware inventory management software has a free plan for up to 100 transactions and 2 users per month. You can also pay for more transactions, users, and features starting from $3 per month.
So which Free Inventory Management Software you choose?
If you’re running an online store and need a tool that can handle shipping and e-commerce, Zoho Inventory might be the right fit for you. It’s good at keeping track of stock across different warehouses, but it only uses the FIFO (First In, First Out) method. If you want a tool that can handle different parts of your business in one place, you might like Odoo. But keep in mind, it could be a bit complicated if you prefer something simpler.
For businesses that need a strong tool to manage stock and keep track of what’s coming in and going out, inFlow Inventory Software could be a good match. But be prepared, you might need to do some setup and tweaking if your needs are complex. If you’re managing things like tools, machinery, equipment, or vehicles, Sortly is a simple solution that could work well for you. But if your inventory needs are more complicated, you might need to look at other options.
Ordoro is a top choice for businesses that need to handle a lot of orders at once, making it a good pick for drop shippers and businesses that use just-in-time (JIT) systems. But it might be a bit too complicated if you prefer something simpler. SalesBinder is a customizable and easy-to-use system that’s great for managing stock, customer relationships, and sales. But it doesn’t have a feature for predicting future stock needs. Finally, if you’re more interested in a method than software, ABC Inventory could be helpful. It helps businesses figure out how important different items in their inventory are.
Remember, the best software for you will depend on what you need. Think about the size of your business, how complicated your inventory is, and how much you’re willing to spend when you’re making your decision.
Conclusion
Inventory management software is a valuable tool that can help you manage your inventory, reduce costs, and improve customer satisfaction. There are many free inventory management software that you can download in 2024, depending on your business needs and preferences. We hope this article has helped you find the best inventory management software for your business. If you need custom inventory management software for your company, just reach out to us. We’ll create something great that fits your needs perfectly.
References:
- https://en.wikipedia.org/wiki/Inventory_management_software
- https://www.netsuite.com/portal/resource/articles/inventory-management/inventory-management.shtml
- https://www.unleashedsoftware.com/blog/what-is-inventory-management-software
- https://www.softwaresuggest.com/inventory-management-software
- https://theecommmanager.com/tools/best-free-inventory-management-software/
- https://www.zoho.com/us/inventory/
- https://www.coursera.org/articles/inventory-management
- https://www.netsuite.com/portal/resource/articles/inventory-management/inventory-management-challenges.shtml
- https://www.myos.com/en-blog/inventory-management-statistics/
