5 Best Inventory Management Software in India for SMEs

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In accordance with an article by GlobeNewswire, the inventory management software market is expected to reach US$3.43 billion by 2030. With technological penetration in virtually each industrial sector, the availability chain and warehousing market just isn’t untouched. Over time, stock administration software program has develop into extra succesful, refined, and systematic. Listed below are some corporations in India that can aid you along with your SMEs.

What’s stock administration software program?

Inventory management software is a software program utility that may assist companies to handle their inventories and shares, observe inventory ranges, streamline provide chain actions, and plan and forecast gross sales, amongst different options. The software program additionally helps you automate processes comparable to cargo monitoring, report era, and so on. This might help companies to enhance effectivity and scale back errors. Stock administration software program can be utilized by companies throughout varied sectors like manufacturing, retail, automotive, agriculture, hospitality, and so on.

On this article, we’ll have a look at the 5 greatest stock administration software program that Indian companies can use for higher administration of stock and shares. We’ve chosen the software program listed on this article based mostly on the next elements. The entire methodology may be discovered on the backside of the article:

Have an total score of a minimum of 4.5/5 stars by customers within the final yr
Have a minimum of 14 consumer evaluations between April 2022 and April 2023
Meet the market definition of stock administration software program
Are headquartered in India and listed in alphabetical order

Head workplaces handle the completely different warehouses the place inventories are managed [Source: Capterra]

General: 4.4/5
Ease of Use: 4.4/5
Buyer Service: 4.0/5
Options: 4.4/5
Worth for Cash: 4.3/5

GoFrugal is a retail and stock administration software program that permits companies to handle their shares, inventory ranges, inventory motion, inventory traceability, and so on. Utilizing this software program; customers can create stock experiences for insights into their inventories, together with AI-based demand forecasting with its autonomous device.

Furthermore, companies can examine the inventory ranges by setting minimal and most inventory ranges and alerts when the shares fall under a sure stage. The device helps barcode scanning, whereby customers can scan the inventory gadgets and replace the standing of their database in real-time.

The software program additionally comes with expiry administration which might help companies take away expired merchandise from the stock and observe the merchandise nearing expiry. Utilizing GoFrugal, customers can handle their inventories from completely different places and warehouses. You may go to their web site for extra data on the pricing and extra options.

Invoice sharing via chat message — *Digital invoices may be created and shared by way of chat messaging functions [Source:* *Capterra*]

General: 4.6/5
Ease of Use: 4.8/5
Buyer Service: 4.6/5
Options: 4.5/5
Worth for Cash: 4.6/5

myBillBook provides stock administration providers to companies seeking to handle their shares, gross sales and orders. Firms can use the software program to create stock experiences to watch their stock efficiency on the inventory abstract, merchandise gross sales, inventory ranges, and so on.

The device additionally has a centralized dashboard whereby companies can get an summary of the inventory standing. myBillBook additionally comes with real-time stock monitoring whereby corporations can determine the stock ranges and make choices about re-stocking. Utilizing myBillBook, companies can create buy orders to assist them handle their provide chain. Customers may add in bulk and make bulk edits by including merchandise from myBillBook’s in-built library of merchandise.

The device helps barcode scanning and era to allow sooner billing. Some extra options supplied by the software program embrace product categorization, alerts on inventory ranges, and automatic inventory updation. Extra data on their pricing and options may be discovered on their web site.

Stocklisting in ProfitBooks’ database — *Firms can view and handle inventory listings utilizing the dashboard [Source:* *Capterra*]

General: 4.4/5
Ease of Use: 4.5/5
Buyer Service: 4.2/5
Options: 4.3/5
Worth for Cash: 4.5/5

ProfitBooks is a listing administration software program that may assist them observe their stock lifecycle. Utilizing ProfitBooks, companies can handle gross sales orders and full order workflow. It additionally permits them to categorize orders foundation the tasks, which might help them to trace the success standing.

The software program provides filterable experiences and analytics to companies to assist them get insights on their inventories, gross sales, orders and so on. ProfitBooks provides batch administration whereby companies can arrange orders in batches, allot batch numbers, and mark expiry and manufacturing dates. It provides multi-user help, and customers may be assigned permission to view varied capabilities.

Customers of the device can handle workflows and allocate inventories to warehouses accordingly. Another options supplied by the software program are multi-currency help, inventory management and changes, stock alerts, integration, and warehouse administration. Extra data on extra options and pricing may be discovered on their web site.

Report dashboard for data insights in TallyPrime — *Customers can view varied metrics like income, months, and different particulars within the TallyPrime dashboard [Source:* *Capterra*]

General: 4.3/5
Ease of Use: 4.3/5
Buyer Service: 4.0/5
Options: 4.3/5
Worth for Cash: 4.3/5

TallyPrime is an accounting and stock administration answer. It provides inventory administration to permit companies to trace and handle their inventory and monitor inventory ranges, pending orders, shipments, and so on. It additionally lets companies handle inventory utilizing batch numbers, observe the motion of batches, and hold a tab of expiry dates.

The software program provides reporting options utilizing which corporations can pull out experiences associated to inventories, income, shares, and tendencies, to call just a few, to assist them make extra knowledgeable choices. Customers can handle their inventories from varied places as properly. Utilizing TallyPrime, customers can categorize their inventory based mostly on a number of standards like product sort, provider, and so on.

Another options supplied by TallyPrime are buy administration to handle buy orders and funds and gross sales administration to provide visibility of previous and forecasted gross sales. Extra data on pricing and extra options may be discovered on their web site.

Inventory register showing product details in TYASuite — *Customers can view full product data within the stock register on TYASuite [Source:* *Capterra*]

General: 4.2/5
Ease of Use: 4.3/5
Buyer Service: 4.3/5
Options: 4.0/5
Worth for Cash: 4.0/5

TYASuite is a listing administration software program that manages stock workflow for corporations and warehouses. The software program provides an automatic stock administration characteristic utilizing which companies can generate computerized buy orders to keep away from stockouts. Utilizing TYASuite, corporations can create experiences and get insights on the shares, orders, and different stock gadgets and markers.

Furthermore, the software program provides multi-warehouse help utilizing which companies can observe stock throughout varied warehouses. The device provides integration with different software program for a seamless movement of information. Another options supplied by the software program are search filters, catalog administration, pricing administration, stock optimization, warehouse administration, provider administration, and so on. Extra data on their pricing and extra options may be discovered on their web site.

Methodology

To pick out the instruments for this checklist, we recognized the highest-rated stock administration software program, which has its headquarters in India.
The shortlisted merchandise have been then assessed towards the market definition of stock administration software program: stock administration software program displays stock ranges for optimum manufacturing and distribution of products for wholesale or retail. These functions allow organizations to handle stock and procurement effectively and order success capabilities. Stock administration options guarantee correct real-time stock reporting and the flexibility to distribute this important knowledge throughout a number of places and all through an enterprise.
All of the above software program has the next core options: stock administration, stock optimization, and product identification.
In addition to that, the instruments have been additional checked towards the next standards: common total scores above 4.5/5 stars, minimal of 14 consumer evaluations over the previous yr (April 2022 – April 2023), and instruments having headquarters in India.
Out of our resultant checklist, we chosen the highest 5 instruments with the best score and listed them alphabetically.

This text could check with merchandise, applications, or providers that aren’t obtainable in your nation or that could be restricted underneath the legal guidelines or laws of your nation. We advise that you just seek the advice of the software program supplier immediately for data concerning product availability and compliance with native legal guidelines.

To know extra, learn the Capterra India weblog here.

Featured Picture Credit score: Picture by Alexander Isreb; Pexels; Thanks!

Sukanya Awasthi

Sukanya Awasthi is knowledgeable and completed Content material Analyst, with a confirmed observe report of working for a number of main manufacturers, throughout completely different industries and sectors. With over 6+ years of expertise within the subject, she is at the moment working because the Content material Analyst for India Market, dedicated to providing insights on know-how, rising tendencies and software program options for SMEs.

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