Gone are those days when order tracking and inventory management were done on an Excel sheet. Now you need something more robust and reliable to keep track of your inventory, sales, purchase, and deliveries. And that’s where inventory management software comes under the picture.
Ineffective inventory management can lead to the loss of sale. Imagine, if you don’t know what you have in store and where it has been kept, you are certainly going to have a tough time selling it. An inventory management system can help you with this problem by optimizing the stock-in-hand and updating you regarding what you need to order & when.
List of Open Source and Free inventory management software
1. Zoho Inventory
Zoho Inventory’s free version is perfect for small and growing businesses. It is a complete inventory control system that helps with creating sale strategies, managing reorder point, generating insightful reports, etc.
- Inventory status is automatically updated across all sales channels.
- You can track transfer orders using a specific batch or serial number.
- The dashboard gives you a quick view of sales order status- pending, invoiced, delivered.
- You can export reports to XLS, CSV, or PDF files in a single click.
Highlight: Zoho Inventory provides you with multiple payment gateways such as PayPal, 2Checkout, Authorize.Net, Braintree, Worldpay, Forte. It ensures you get paid faster.
2. ABC Inventory
ABC Inventory is an absolutely free inventory management system in which you can add any number of products. The free version supports a single user and can be installed on many workstations.
- It supports multiple currencies and currencies are auto-updated.
- You can easily export data to MS Excel, MS Word, HTML, and text format.
- You can manage multiple warehouses from a single system.
- It supports various inventory valuation methods such as LIFO, FIFO, and average.
Highlight: ABC Inventory software clearly defines the status of inventory. In other words, you know the exact number regarding inventory in-stock, on-hold, committed and on-order.
Inflow is another ideal free inventory management software to keep your business running. It saves your time given to paperwork, helps in accurately meeting your customer’s requirement, and generating insightful reports.
- It is a barcode compatible inventory management system.
- Movement of stock across locations and sub-locations can be easily tracked.
- You can generate more than 32 detailed business reports.
- You can manage complete data related to customers including contact info, order & payment history, outstanding balance, credits, etc.
Highlight: inFlow comes with a unique feature called ‘shareable showrooms.’ A showroom is a website created to share product information with anyone or privately. You decide who can access the showroom, or see the product details. You can create unlimited showrooms to give read-only access, set private price list or share it only for B2B purpose.
Odoo has been designed as an ERP software, but its add-on applications structure allows you to make it as large or small as possible. From inventory point of view, it will help you maximize warehouse efficiency by automating warehouse processes, reducing stock-out and stock-levels.
- Track every stock from the point of purchase to warehouse and sales.
- You can generate and share with anyone real-time dynamic business reports.
- It facilitates both retail and manufacturing inventory management.
- You can quickly search the documents using filters like product, customer, etc.
Highlight: One of the unique features is ‘Pick-Pack-Ship’ which allows you to design your process of order flow. You can choose to directly deliver to the customer from supplier or add several steps in between such as picking, packing, and shipping.
Delivrd is a web-based inventory management software that offers management of one location and 25 Stock Keeping Units (SKUs). It is best suited for businesses with a narrow focus like specific product sellers.
- You can perform a quick check every time an order is received whether particular product is in stock or not.
- You can manage inventory of packing material as well along with products.
- It makes shipping process faster and error-free by making extensive use of barcode labels.
Highlight: Delivrd segregates inventory into ‘regular’ and ‘damaged’ for your convenience. You can use regular inventory to fulfil orders, and damaged stock can be given back to suppliers.
- You can easily import a CSV file of products from old POS or online store.
- Products can be categorized by name, type, brand, supplier, etc for quick inventory search and count.
- You can eliminate double data entry by maintaining a centralized product catalogue.
Highlight: Vend allows you to create product variants and composites. You can set different product size, colours, or any other variant as required and edit them all in one view. Also, you can bundle products to create a new product such as gift basket or split one product and sell them individually like selling single water bottle from a carton.
Free versions of these inventory management software are best suited for the requirement of small businesses. However, as your business grow, paid versions are worth considering in that case.