Big data is playing an important role in many facets of modern business. One of the most important applications of big data technology lies with inventory management and optimization.
Understanding the Best Data-Driven Inventory Optimization Applications for the Coming Year
This is the best inventory optimization software for 2021, according to the latest research updated in December 2020 by Business.org. You can find ten of the best software applications that use machine learning, AI and other big data technology to facilitate inventory management processes. We will cover what they are and what business type they are good for, along with their pricing tiers. They all rely on big data technology to provide more value to their users.
The best data-driven inventory analysis and management applications are:
Fishbowl Manufacturing and Fishbowl Warehouse
Let’s take a brief look at each one in the top 7.
Ordoro is best used for eCommerce. It has two plans available and you may schedule a demo before you buy. $50 per month provides a limited but complete system for smaller eCommerce businesses like USPS discounts. $499 per month gives you a substantial plan with added features like Kitting, Drop Shipping, and Purchasing. If you need more than either plan offers, you may call for a quote on the Enterprise plan, which offers a dedicated team to manage certain aspects and vendor portals plus a few other features.
InFlow has a wide variety of services and offers a more flexible pricing plan plus a free trial. The pricing packages are in Standard, they recommend that and then plus and light. Standard is at $199 per month, then light at $79 per month, and Plus at $399 per month. This inventory Optimization software is compatible with a wide variety of inventory-holding business online or brick and mortar.
Upserve is aptly named for restaurants. This software will do what other software will not for restaurant operation. The restauranteur can track refrigerated goods, and other specialty supply chain needs. They can create recipes and organize them in categories from experimental and sale items. They can use this one software to perform most aspects of their business in one place.
Core $59, Pro $199, and Pro-Plus $359. The most popular is Pro at $199, which is recommended by them to give most businesses an adequate amount of services. This one has one of the longest lists compared to others so it takes some reading to discover what’s best for you. The Pro-Plus has only two add-on features that you would have to pay over and above the $359 for. The other two offers have more. You could decide a bit easier if you looked at what the add-ons are first and move through the list that way.
Best ERP inventory solution. This one claims to offer everything from inventory to point of sale, and the only thing missing for your business needs is the accounting software. They’re also the most expensive. Lots of addons. They offer everything but they’ll charge you for every module that’s added so realistically, by the time you’re done suiting up your business you’re out $250 to $425 before addons. The first two plans both cost $250 with little, if anything different. The last one at $425 directs you to sales after a shortlist of basically everything the first two plans tell you. It’s the most expensive and the plans are the least transparent.
Zoho is great for small business inventory but will offer enterprise-level services in some areas. They do cap you off with the number of orders you can have per month. If your business expands or you gain multiple warehouses, then you must upgrade your account. Just keep in mind that it’s only allowing you 30,000 orders per month, even on the upgraded plan. They offer a free plan with limited services. This may satisfy a small online business with an at-home inventory. A $39, $79 and $199 plan. Again, very limited in comparison.
Fishbowl: Warehouse and Fishbowl Manufacturing
This is another inventory software that will give you enterprise-level services, but you have to extra to get them. For both Fishbowl warehouse and manufacturing, they don’t have a clear-cut pricing list. They ask you to either call for a quote and they advertise everywhere on the site for the 14-day free trial. So, they want you to get hooked before you get a quote.
That was the main 7. Below is other more specialized inventory software.
If you have inventory for what they call, “not for sale” assets, then EZOffice Inventory is a great little software. You would use this for your own business equipment. It’s developed to help you track the wear and tear and request and track work orders. It’s inexpensive with packages from $35,$45,$50, and then Enterprise, which is customized by you and a salesperson over the phone.
Veeqo is the best for multichannel retail businesses and is recommended for those who want a simple solution to learn. If you aren’t that tech-savvy and are intimidated by giant, complicated software but don’t need a plethora of features, then this is for you. It’s not so cheap for its simplicity.
The pricing packages range from $156, $202, to $260 then Enterprise Custom. The services are the same and are tiered by Basic, Intermediate, and Advanced. You don’t see this often, so the software is for a very specific business type. In those plans, you get 2,4, 5, and then Unlimited users with Enterprise level.
Almyta Control System:
Lastly, is Almyta Control System at number ten. This is the most complete, but for what it offers in comparison it’s pricy. It boasts full customization, but whether or not you’ll benefit depends on your business type and unique need. The pricing is: Standalone Single User: $435.00; Cloud Unlimited Nonconcurrent Users $635.00; Networked Unlimited Nonconcurrent Users $935.00 and for Other Type Microsoft Nonconcurrent Users a whopping $1,835.00.
Use the Top Data-Driven Inventory Management Tools
These are the top ten that have been rated across many reviewers in the last part of 2020 to bring businesses forward into 2021. Research and knowing what your need is is the key to success. We suggest always speaking to a company that is geared to and knows your business.