4 Min. Read

5 Best Manufacturing Inventory Management Software

April 2, 2024

Inventory management software helps to optimize physical inventory levels. As such, manufacturers always have what they need. This is beneficial when placing an order without taking up money or excess inventory.

The system allows manufacturers to immediately determine the existing inventory costs. This is useful for financial planning. Plus, you can track raw materials and inventory items. The system also records work-in-process (WIP) items, finished products, and more.

So, what are the best manufacturing inventory management software options? Read to explore the top picks for your consideration.

Here’s What We’ll Cover:

FreshBooks Client Management

FreshBooks Client Management

FreshBooks Client Management keeps you connected with your clients. You can keep all customer estimates, payments, invoices, credits and other financial information. Best of all, it’s all in one place! This makes tracking customers a breeze.

Moreover, knowing your customers better lets you give them the best service possible. FreshBooks Client Management lets your clients understand and take part in the project. As a result, you are always on the same page.

And use time tracking to record each billable minute. You can record all work and send more accurate invoices. In using FreshBooks, you’ll gain better customer rapport.

Communication and transparency are great ways to get customers interested in their projects. As a result, relationships flourish through clients. It also accommodates comments, project collaboration, file sharing, and more.

And thanks to FreshBooks’ client info, you can use it to grow your business. Your client reports tell you which customers are helpful or hindering your business.

You can even track loyalty discounts, refund previous jobs or make advance payments. In doing so, you can better understand your relationship with each customer. You can then apply a credit to invoices to ensure that your book stays accurate.

With so much flexibility at your fingertips, it’s no wonder why FreshBooks takes the top spot.

NetSuite

As the first cloud ERP system, NetSuite caters to over 24,000 customers. With it, you can gain visibility and control. You’ll have the agility to build and operate successful businesses. You get integrated systems including:

Supply chain management
Inventory management
Commerce
Finance
CRM
PSA
ERP
HR

NetSuite automates core processes and provides real-time insights. This enables fast-growing companies in various industries to be more effective. NetSuite also provides a series of accounting and financial management solutions.

Fishbowl

Fishbowl is a hybrid inventory management system and warehouse management solution. It is made for small and medium-sized companies. The main functions include:

Material requirements planning
Work order management
Manufacturer orders
Inventory control
Job shop control
Bills of materials

You can deploy this solution locally or host it in the cloud. Fishbowl also provides functions such as:

Raw material management
Automatic ordering
Asset management
Cycle counting
Purchasing
Reporting
Barcode

It provides real-time updates of inventory levels for multiple warehouses in the organization. The solution can predict inventory requirements based on sales trends. It also allows organizations to transfer inventory from one warehouse to another.

Prodsmart

Prodsmart is the gateway to digitalization for SMB manufacturers. This is a complete modular solution that can prepare any production environment for the future of manufacturing. Prodsmart provides data support for SMEs. By collecting insights into the entire production, Prodsmart helps them:

Fully understand the environment
Quickly respond to changes
Optimize operations

This gives SMB the confidence to make decisions based on data. What’s more, you can negotiate from an advantageous position, and drive business growth.

Striven

Striven is a cloud-based enterprise resource planning (ERP) solution. It’s ideal for many industries and organizations of all sizes. It provides functions such as:

Customer relationship management (CRM)
Inventory management
Project management
Human resources
Accounting

Striven also has business management tools, including:

Internal news sources with social media integration
External operation triggers
Dashboard customization
Dynamic feedback tools
Calendar integration
Customized reports
Resource navigator
Company center

It also has tools for field service management, measurement, and business analysis. Striven supports integration with Google, Microsoft, Yodlee, Authorize.Net and ShipStation. Users can access Striven on any device anytime, anywhere.

Key Takeaways

Do you need better inventory management in your business? Check out our guide on inventory management software for small businesses. With these advanced solutions, you’re sure to see improvements in various areas of production. If you want a streamlined approach that is user-friendly, consider trying client management software.