Whether you are running a small-scale manufacturing unit or a large production plant, you certainly need an inventory management software to manage your day-to-day supply chain operations. A suitable inventory management software can provide your business many capabilities that can help to increase your profit by decreasing the overall costs of all the supply chain operations collectively.
Buying and setting up an inventory management software yourself can be an expensive and time-consuming affair as it includes buying a license and the required hardware, and getting the installation done. Thankfully, there are many free and open source inventory management software already available on the internet, which can save you on some of these fronts, if not all.
5 Best Free and Open Source Inventory Management software
Best Open Source software
Odoo is primarily an open source software that bundles a wide range of ERP and CRM tools including inventory management. The community version of the software can be downloaded for free and deployed on your own server. It comes with loads of extensive features like advanced routing, productivity, replenishments, inventory valuation, reporting, and integration. It uses the double inventory management system that mitigates the chances of fault in the delivery and management of inventory. It also allows smartphone integration, so that the user can easily monitor the inventory anywhere and anytime.
The paid version of Odoo, also known as the Enterprise version, is Saas-based and doesn’t need you to buy a server space separately. Users can choose the package and features based on their requirements. Odoo has also been featured on our list of the best ERP software.
PartKeeper is yet another great open source inventory management software that you can download from the official website without paying a dime. It is flexible to use with useful options like finding the inventory on the basis of manufacturer or distributor.
The users can easily keep track of the stock because the online server can monitor every operation, at every branch of the business organisation. It also allows the import and export of data from Excel and CSV spreadsheets, which can save a lot of time over the traditional way to updating the data manually.
PartKeeper is one of the best choices for SME companies. Just like any other open source software, the user would have to buy hosting services to deploy the server, which the PartKeeper team can do for you for a small charge.
Best Free software
Zoho provides a multitude of enterprise solutions and is mainly famous for the Zoho CRM and Project Management software. Zoho Inventory is an efficient internet-based free inventory management software, which provides the users with many useful features and benefits. It is also suitable for large organisations because the users can automate their inventory management while tracking the orders on the go and making smarter business decisions. The users can also integrate the inventory management software with other Zoho applications.
It is one of the most flexible and reliable inventory management software which also comes with mobile tracking feature that supports any Android or iOS device. Zoho also has a paid version which comes with the following additional features:-
- Stock adjustment and product shrinking features
- Application management
- Software management and inventory
- Inventory replenishment for avoiding stock-out conditions
- Delivery tracking and order fulfilment
The paid users can enjoy all these features in a minimal subscription cost of around $29 per month.
Erply is quite popular in the United States, which is evident from the fact that around 70 percent of its users (70,000 out of total 100,000) are from the USA alone. It comes with automated hybrid POS (Point of Sales) system that allows the user to update the POS either online or offline, while the data is automatically synchronized once the software gets online. Erply also comes with the shipping integration feature, so that you can easily ship products to the clients with the help of any courier service like UPS or FedEx. Excluding this, the paid version comes with the following additional features:
- Time clock and payroll report program
- Integrated payments system
- Electronic signature storage
- Purchasing report
- Suspend sale and mobile selling
MarketMan is internet-based free inventory management software that is suitable for the small and medium scale industry businesses like restaurants, shops, etc. You can use it on your smartphones, tablet, or computer, without any additional costs of hardware and installation. It is also beneficial for the supervision of the workers and employees of the company that can help you to assign the right task to the right worker at any moment of time. Other features include:
- Inventory management and food costing for restaurants
- 3rd Party software integration capabilities
- Permission and user management
- Supplier and budget management
If you haven’t started using an inventory management software for your business yet, you might be spending more than what it should be on your supply chain management. With so many free and open-source options available, there’s no reason why you shouldn’t try one now.