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April 12, 2022

Best Shopify Inventory Management Apps 

Best Shopify Inventory Management Apps 

Once you've set up an online store on Shopify and products are selling, your next steps will be to think about inventory management. As demand increases for your products, so will the need to track orders and inventory to ensure you have the stock available. 

This can be complicated, especially if you have various vendors, multiple warehouse locations, and different sales channels to monitor. The last thing your ecommerce store needs is to run out of stock and not have any product to sell to your customers. 

Let's explore what inventory management means for your Shopify store and how it can benefit your online business. We'll also run through the best apps for managing inventory on Shopify. 


What Is Inventory Management?

Inventory management is a vital backend part of running a successful ecommerce business, and Shopify's inventory management capabilities are helpful, but the ecommerce platform has its limitations. That's where using separate apps comes in use. 

Inventory management allows you to accurately record your sales, forecast how much stock you'll need in the future, and track your current stock. For example, if you're an apparel company selling branded t-shirts. 

If you're putting a discount on a specific design and expecting to sell a lot, you'll need to track those sales and ensure you've got enough product. You'll also want to forecast how many t-shirts you'll need in the future. A good inventory management system can help automate that process, meaning it's less strain on you as a business owner. 


When Do You Need to Think About Inventory Management for Your Online Store?

When you've launched an online store, you'd be forgiven for wondering: is inventory management important? 

The good news is, if you are a brand new seller on Shopify and only just opened your online store, you don't need to worry about managing inventory yet. The priority for your Shopify store is to market your store well and sell products. You can do this with Google Ads and boost your customer conversion rates. However, investing in inventory management software is something to think about in the future.

The time to start focusing on tracking inventory is once you've got a loyal customer base and are selling lots of products. 

Suppose you find yourself running out of stock or unable to keep track of what's in your warehouse. You should think about using a Shopify inventory management app, especially if you feel that tracking stock levels and managing inventory yourself has become too time-consuming. 


What are the Advantages of Using Inventory Management Software?

Once you're established, inventory management is an essential part of running a successful ecommerce business. There are plenty of benefits to using a good app to manage inventory for your online store. Using dedicated software can provide you with automated real-time updates of your stock levels. You can get notifications when you have to order new stock and forecast future necessary inventory levels based on current demand. 

Here are the key benefits of using an inventory management system. 

It Prevents You From Running Out of Stock 

One major issue as an online retailer is running out of stock when customers want to buy your products. 43% of online shoppers listed stock availability as one of the essential things when online shopping. 

You can calculate how much an item is costing you by being out of stock

Stockout Cost = Number of Days Out of Stock x Average Number Sold Per Day x Price of Product. 

So if you sell t-shirts for $25 and sell on average five per day, but it's been out of stock for seven days, the calculation would look like this. 

Stockout Cost: 7 x 5 x 25 = $875

You want to keep your customers coming back to you. Investing in a Shopify inventory management app to ensure you don't run out of stock is the cheaper option. Having gaps in availability can add up quickly, especially if it's more than one product. Plus, having holes in your inventory makes it more likely a shopper will go to a competitor and purchase for them. 

Decreases Inventory Waste

However, it's not just stock gaps you need to worry about. Having too much inventory can be just as costly. Storing your inventory in warehouses comes with storage fees attached, and if you have perishable goods, they might go out of date while you're storing them. Even if you sell non-perishable goods, trends change, and new fads come in. You don't want your items going stale before you've sold them all. You always want to sell your oldest stock first. Applying the FIFO method (First In, First Out) will help you move inventory and manage stock levels. 

The best way to reduce inventory waste is to record how much inventory you will need; Shopify inventory management software can help predict this by tracking demand for your products. 


Stops You From Overselling Your Products

Inventory tracking becomes even more challenging if you sell on several sales channels. You might be down to your final product, but because your store is on multiple channels, the others will still have the product available when the last item gets sold on one channel. This results in you selling products you don't have stock for. 

If you've oversold an item and can't fulfill the order for the customer, they're going to be disappointed and have a poor customer experience. This could mean they leave a terrible review or don't come back for repeat business.

Inventory management software can automatically update stock levels across all your sales channels, meaning customers can purchase orders with the confidence that they'll receive the item. The software will update when an item goes out of stock, reducing the strain on your business. 

Helps With Predicting Demand

One helpful tool when using inventory management software alongside detailed inventory tracking is the ability to track trends. Different items, colors, and designs come in and out of fashion. As a business owner, it can be hard to keep up with it all. They will track it for you, meaning you can accurately forecast how much stock to purchase and avoid having too much or too little inventory. 

Shopify inventory management apps can also monitor inventory history, meaning they can accurately predict how many items get purchased daily on average and track whether demand is increasing or decreasing. This helps you keep stock levels accurate and provide a better customer experience. 

Managing Your Cash Flow

Managing cash flow is vital to the success of your online business, and inventory management will help you organize your budget. As a business owner, you need to know your incomings and outgoings. 

Using an inventory management tool gives you a real-time, accurate view of the cash flow from your ecommerce store. It allows you to make more informed decisions regarding your expenditure and reduces storage and stocking costs.


Best Inventory Management Apps for Shopify

Many inventory management tools are available on the Shopify app store and other websites that can integrate with Shopify. However, there's so much there that it can be challenging to know what to pick. 

A basic inventory management app should at least be able to keep accurate records of your stock levels across multiple warehouses. But there are a lot of additional features that make the Shopify inventory management apps stand out. 

A good inventory management system should give you inventory control and inventory forecasting. It should be simple to track product availability and make adjustments where necessary.

We've put together a list of some of the top-rated inventory management software currently on the market. 

Stock Sync

Stock Sy

nc has more than 850 five-star reviews on Shopify, so they must be doing something right. Thousands of stores have this inventory management software installed to help manage pricing and automatically update inventory. They are suitable for empty stores just starting, and you can have up to 35,000 products across their pricing plans. 

Features

  • Integrates with brick-and-mortar and online stores - if your brand isn't just based on ecommerce and has a physical store, Stock Sync has you covered. You can use the same inventory management tool for your physical locations and your online store. 
  • Automatic inventory updates - Stock Sync keeps you notified of your current stock levels for all products.
  • Notifications when quantities are low - using the inventory management tool, you can set it to tell you when stock is running low. You choose the amount, you could make it the last ten items, and Stock Sync will let you know you need to order more. 
  • Set prices across all sales channels - Stock Sync has an easy-to-use pricing tool that keeps consistent prices across all channels. 

Pros

  • There's a 14-day free trial that gives access to the full software, so you can try it before committing.
  • Pricing plans are affordable and flexible, so you only need to pay for the features you're using. 
  • Works across multiple channels, not just Shopify. 
  • Options for custom pricing. 
  • All the tools for inventory management are included. 

Cons

  • Stock Sync has no analytics or reporting options, so it's not the one for you if you're a data nerd. 
  • Doesn't offer much outside of inventory management. 

Price

There are several pricing tiers with Stock Sync, including a free plan. The first is entirely free and suitable for small stores. It comes with up to 2000 product options, and you can do batch inventory updates.

The pricing plans above this vary. As you only need to pay for the features you're using, there are many options to customize it. The most expensive plan will set you back an average of $49/month, but there are additional things you might add on that will be more expensive. 

Stocky

Shopify created Stocky, so it perfectly integrates with your Shopify store and updates automatically. It has more than 130 five-star reviews and is included in the Shopify Point of Sale (POS) Pro subscription. 

Features

  • Demand forecasting - the app will recommend products to you based on your current sales and let you know what products sell the fastest and make you the most profit. It'll also tell you when to reorder items before they go out of stock. 
  • Purchase orders - Stocky has an easy-to-use purchase order screen that allows you to manage multiple suppliers and vendors from one place. 
  • Quick transference of stock - you can quickly move inventory from one location to the next to satisfy customer demand. 
  • In-depth reports - Stocky allows you to generate detailed reports regarding your sales, profit, and cash flow, meaning you can use the data to make informed decisions about your inventory. 
  • Quick order receiving - when new inventory is received, staff members can quickly scan the barcode, and it'll upload to the system, making the process to receive stock as simple as possible. 

Pros

  • It provides you with all the information you need on your sales and makes predictions for you based on the data. 
  • Grades items based on revenue, allowing you to quickly see what products make you the most profit. 
  • Streamlines the process of receiving inventory. 
  • Automatic updates on low stock levels and reminders to reorder items. 

Cons

  • Only available to people using Shopify POS Pro. 
  • Doesn't do order fulfillment or shipping. 

Sellbrite

Sellbrite isn't just a Shopify inventory management app. It works on other ecommerce platforms, such as Etsy, eBay, and Amazon. This dynamic software is excellent for growing brands and comes with a range of features to boost your online store. 

Features

  • Multi-channel integration - marketing itself as the best multi-channel inventory management software, Sellbrite allows you to access all your ecommerce stores at once and organize stock. 
  • Bulk listing options - Sellbrite allows you to bulk list products, with options for variation for each product. 
  • Centralized easy-to-use interface - they've considered user experience when designing the app. Business owners can fulfill orders, make product listings, and control inventory from the same place. 
  • Automatic inventory syncing - there will be no overselling problems when using Sellbrite, as the inventory automatically updates across all channels. 

Pros

  • It's affordable, with several pricing plans available. 
  • It's easy to manage multiple warehouse locations and multiple channels. 
  • Offers automatic inventory updates and order fulfillment. 
  • Provides support with shipping labels. 
  • Rated highly for their customer service and support for users. 

Cons

  • Doesn't integrate with POS. 

Price

Pricing starts with a free plan that accepts up to 30 orders monthly with unlimited product options, sales channel integrations, and lots of support. The pricing plans go up to $99 per month, covering up to 2000 orders. There are plenty of options to look through, but the good news is that the free and cheaper plans still have most of the higher plans' features. 

Skubana

On Shopify, Skubana brands itself as the 'the operating system of commerce'. It's got everything you need for analytical reporting, inventory management, and order fulfillment. It is an advanced and detailed inventory management app with a wide range of functions, but it does come with a hefty price tag.

Features

  • One-click purchase orders - you can restock your inventory with just one click and track your inventory across multiple channels. 
  • Modifiable platform - coders can customize Skubana's API to make it more suitable for your business. 
  • Excellent reporting and analytics - Skubana boasts a detailed reporting platform to track expenses, income, profits, bestsellers, poorly performing products, and customer value. You'll be able to make informed decisions about your online store.
  • Calculates shipping rates and organizes returns - the app is packed with extra features to ensure you can manage most of your business from one convenient place. 

Pros

  • Created to have all the features necessary for businesses to succeed. 
  • Convenient platform with one-click ordering and simple order management. 
  • Excellent customer service and support available to users. 
  • Incorporates shipping, order fulfillment, and inventory management across multiple channels in one place. 
  • Coders can customize the API and make it more suitable for them. 

Cons

  • The price is too high for many small to medium enterprises to consider. 
  • Comparing them to other inventory management apps is difficult as they provide tailored quotes. 

Price

Skubana's pricing starts at $1000/month, which means it's not suitable for small business owners who are just beginning. They prefer you to contact their sales team directly to get a quote from them, as Skubana will tailor it to you and the features you require. 

ShipHero

Hundreds of users use this multi-channel inventory management app, and it has more than 120 five-star reviews on Shopify. The app provides support with shipping, inventory management, and returns. ShipHero can integrate across multiple warehouses and sales channels. 

Features

  • Advanced reporting - ShipHero has detailed reporting options to track sales, profits, and returns. 
  • Multi-channel integration - the app integrates across Shopify, Amazon, eBay, and USPS. 
  • Real-time inventory updates - your inventory is monitored across multiple warehouses in real-time to prevent overselling and running out of stock. 

Pros

  • They boast excellent client support and customer service. 
  • Reduced shipping costs for users. 
  • Multi-warehouse and multi-channel integration. 

Cons

  • Expensive when compared to other inventory management apps. 
  • Not suitable for small businesses. 
  • Difficult to use for people who are new to ecommerce. 

Price

Its essential plan is priced at $499/month. It comes with two users and one store connection, unlimited product options, and access to 24/7 support. It then hikes up to $1850 for big brands. That plan includes five users and up to ten store connections. To add additional users costs an extra $150. Users of the premium plan have access to the API and multiple warehouse locations. 


Summing Up

When choosing the right Shopify inventory management app for your store, there are many variables to consider. 

You'll need to decide how much money to invest and pick a pricing plan that works for you. Each software comes with various tools and integrated options for your store. 

An excellent inventory management app should prevent overstocking and overselling issues while automatically updating your stock levels across your sales channels to provide a good customer experience. This will help you manage your cash flow more accurately. 

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