Open source inventory management software is crucial to the success of a business since it is impossible to run a successful business without knowing how much you sell and how much inventory you have on hand. On the other hand, inventory management software has become an essential tool to ensure successful inventory management. Nowadays, open-source inventory management software is very popular because of its advantages in the implementation cost and deployment. This post will put you in the direction of the top 5 open-source inventory management software that comes highly recommended.
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What is open-source inventory management software?
Open-source inventory management software refers to cloud-based applications or tools that help business owners to keep track of inventories, orders, sales, and deliveries. More importantly, open-source software is designed to be publicly accessible. An open-source inventory management software can assist businesses in improving customer service, quality, and cost management as well as support business owners in making plans for businesses based on insight reports. In addition, it is frequently less expensive, more flexible, and has a longer lifespan than proprietary software.
Top 5 open-source inventory management software for business
There are many existing open-source inventory management software in the market but we can list the top 5 software that is most popular implemented.
1. Magestore Inventory Management
Magestore Inventory Management is a fully functional and primary inventory control solution for fast-growing businesses. It helps retailers improve sales while reducing inventory carrying costs. Besides, it also supports the business owners in maintaining strict control over the stock transfer, stock taking, and inventory adjustment. You can click here to see how it supports a business’s inventory control. In addition, it also offers several useful stock management tools, such as:
- Sell without limits from an all-in-one system
- Eliminate stock discrepancies
- Manage thousands of products in a smart way
- Keep purchasing simple and cost-effective
- Support employee management
- Generate complete inventory reports
2. inFlow Inventory
This is an ideal open-source software for any company size to keep track of inventory. Inventory management and control are simplified with this software. Inflow provides many capabilities, including the ability to manage products, simplify the process of placing orders, and stock reordering as well as creating reports. In addition, this software is available in both on-premise and cloud versions. inFlow is accessible for iPhone and Android users as a Windows software, a web app, and partner apps. However, inFlow doesn’t integrate with accounting systems so you have to export accounting-related data from the software manually.
Odoo is an open-source application. It addresses all of your business’s needs which can be considered as an ERP solution, including CRM, eCommerce, accounting, project management, inventory management, and more. However, business owners can choose to use only its inventory management solution which is completely free.
Odoo’s modern interface helps you to easily and rapidly control and monitor your incoming orders, production orders, scrap items, pack products, receipts, and much more. Besides, Odoo Inventory is fully connected with production, purchasing, and selling, ensuring that all functions are on the same page. In addition, it provides real-time inventory updates and a double-entry inventory management system which are useful. The system also allows you to turn on only the functions that are relevant to your organization and easily manage single or multi-warehouse inventory.
4. Zoho Inventory
Zoho Inventory is an online inventory management software that offers both a free and paid version. Zoho Inventory is the greatest free option for small businesses because it allows you to add items, fulfill orders, and view inventory from any device. Its top inventory management features can be listed as follow:
- Automatically check and order new items when it is out-of-stock
- Notify buyers in real-time about their orders.
- Dropshipping and composite items are handled.
- Real-time synchronization of inventory across all channels
- Comes with a customer relationship management (CRM) program
- Can take backorders for items that are out of stock.
- Inventory, customer, and sales reports are all available.
- Available for barcode scanner
5. ABC Inventory
ABC Inventory Management Software is a free inventory management program that is designed to handle all the aspects of inventory management. It automatically tracks each stage of the inventory lifecycle so business owners can access the information at whatever stage they need. Moreover, you can adjust inventory directly in the software and customize the software dashboard based on what you want. The software also generates thorough reports to help you make an informed plan for the business.
In short, open-source inventory management software can provide you with critical information about your inventory to meet client needs and employee satisfaction. However, finding the right open-source inventory management software with capabilities tailored to your business is the real challenge. We hope that with our suggestions, you can find the suitable one and utilize it to develop and transform your business.