Custom inventory management software: features, platforms, and technologies
Our inventory management services
Itransition offers end-to-end inventory management development services, from requirements analysis and functionality design to solution development and integration with other systems.
Consulting
Our experts audit your current inventory workflows and analyze your business requirements to decide on an optimal feature set and tech stack for your solution. Then, we conceptualize your future solution, estimate costs and time, create a development plan, and envision further upgrades.
Development
We build bespoke inventory management solutions for any business type or industry to back up your specific workflows and ensure efficient operations. In addition to equipping your software solution with the necessary features and capabilities, we design user-friendly interfaces to ensure high user adoption and minimize operations disruption. Throughout the entire development process, we perform multiple tests to check if your software operates as intended and correct any flaws before the rollout.
Integration
To create a unified business ecosystem with seamless data sharing, we can connect your custom inventory management solution with your other corporate systems, such as ERP, CRM, and accounting software. We also integrate your software with best-in-class barcode scanners, cameras, and sensors for comprehensive data gathering and more accurate stock tracking.
Following the deployment, we will keep your inventory management solution fully functional with regular or on-demand performance checks, configurations, and updates. If needed, we can upgrade your solution with new functionalities to match your emerging inventory needs.
Want to streamline your inventory management?
Key inventory management features
Whether you run a retail, distribution, or manufacturing business, we can handpick proper features and functionalities for your inventory solution to help you efficiently control, handle, and plan your inventory throughout the entire supply chain cycle.
- Inventory, shelf, and bin tracking
- Expiration date tracking and alerts
- Real-time updates on stock levels
- Stock quantity-based alerts
Inventory optimization
- Inventory flow management
- Lead time estimation
- Inventory valuation using FIFO, LIFO, or other methods
- Safety stock management
- Warehouse layout optimization
- Inventory allocation
Product catalog management
- Inventory item import and editing
- Item names and SKU numbers generation
- Inventory listing
- Filtered item search
Barcode scanning
- Physical barcode reader integration
- Label generation, scanning, and printing
- Support of one- and two-dimensional barcodes
- Instant connection of scanned items to the quantity, location, price, and SKU details
Inventory database management
- User permission configuration
- Automated and manual data entry
- User account and security settings management
- Bulk inventory data processing
- Inventory data backup, versioning, and recovery
Inventory forecasting
- Historic, seasonal, and current trends analysis
- Demand prediction
- Qualitative and quantitative forecasts
- Recommendations on optimal stock amounts
- Graphical visualization
Automatic reordering
- Reorder point setup
- Automatic purchase order creation and placement
- Low-stock and reorder point alerts
- Purchase order status tracking
Customer & supplier management
- Automated customer and supplier document completion with details from the database
- Customer purchase pattern analysis
- Supplier performance analysis
- High-value customer identification
Production management
- Generation of complex, multi-layered bills of materials
- Coordination of purchase and sales orders with manufacturing orders
- Final product cost estimation
Product assembly
- Combining different inventory items into one
- Substitute stock items support
- Calculation of stock available for assembly
- Kitting and bundling options
Analytics & reporting
- Activity reports
- Sales and customer behavior analytics
- Inventory-related reports
- Audit reports
- Transaction history reports and visualization
- Report-based alerts configuration
Important integrations for inventory management software
We can integrate inventory management software with other enterprise systems and physical devices to ensure seamless data exchange and streamline inventory operations across the company.
Inventory management software integrations
ERP
CRM
Accounting software
PoS systems
Physical devices
ERP-inventory management software integration enables automatic inventory data availability across departments, resulting in real-time visibility into the stock-related processes and streamlined order management, planning, logistics, and accounting operations.
Syncing inventory management solutions with a CRM system facilitates inventory data transmission between the sales and supply chain management teams. It allows for quick equipment of current order fulfillment capabilities with automatic sales order and invoice generation.
Accounting software
The integration of accounting and inventory management software allows you to track purchase/sales orders, invoices, and accounts payable, accurately reflect inventory in financial reports, and calculate inventory carrying costs.
Through a point-of-sale system connected to inventory management software, businesses can remotely and in real time check stock levels across sales locations, identify best-selling products, get low-stock alerts, and generate inventory reports.
Physical devices
We can connect your inventory management system to barcode or RFID scanners, mobile devices, and cameras to automate stock identification and tracking and accelerate transaction processing operations.
Inventory management delivery roadmap
Our inventory management software implementation process includes several stages where we cooperate with the customer’s stakeholders to deliver a fully-functional, robust solution.
1
Analysis
- Analyzing inventory processes and business needs
- Defining software requirements and project scope
2
Design & planning
- Designing software architecture
- Estimating time and costs
- Selecting tech stack and implementation approach
3
Development
- Front-end and back-end development
- Feature engineering
- Integration with other systems and hardware if required
4
Testing
- Test automation
- Functional and non-functional testing
- User acceptance testing
5
Deployment
- Software configuration
- Data migration
- Post-release testing
6
Support & maintenance
- Corporate training
- On-demand or ongoing maintenance
- Functional upgrades
Custom inventory management tech stack
We thoroughly analyze project requirements and select the best technologies to create reliable inventory management software fully matching our clients’ unique needs.
Hosting platforms
Hosting platforms
Front-end technologies
Front-end technologies
Back-end technologies
Back-end technologies
Databases
Databases
Top inventory management platforms
Odoo Inventory is a flexible and comprehensive open-source inventory and warehouse management solution that helps streamline the inventory process end-to-end.
Key features
- Order packing and delivery with or without barcodes
- Double-entry inventory management
- Stock transfer
- Multi-warehouse support
- Real-time inventory valuation
- Inventory forecast
- Real-time dynamic reports
- Powerful document search
- Custom stock alerts
- Activity log
- Customer portal
- Integration with other Odoo apps and third-party software via APIs
- Active customer support and community forums
Deployment types
- On-premise
- SaaS
- Cloud
- Web-based
Pricing
- Free (including free hosting and support) with unlimited users if it’s your first Odoo app
- Additional apps start at €11.90/user/month
- 15-day free trial
Best for
- Businesses with an IT team
Limitations
- Customization can require technical knowledge
Zoho Inventory is a cloud-based, easy-to-use solution for tracking inventory changes and managing purchase orders for organizations with a single or multiple warehouses.
Key features
- Automatic inventory quantities update
- Item kitting
- Barcode scanning with field auto-population
- Serial number, batch, expiration date, and shipment tracking
- Multichannel selling
- Works with 30 shipping services
- Packing slip and shipping label generation
- Exportable inventory reports
- Easy integration with other Zoho products and definite third-party tools
- Multilingual and multi-currency
- Mobile app
- User guide, FAQ, and knowledge base
Deployment types
- SaaS
- Cloud
- Web-based
Pricing
- A free version and different paid plans starting from $399 per month
- 14-day free trial
Best for
- Small to large companies
Limitations
- The platform’s standalone focus can make integrations with other business systems difficult
Cin7 is an all-in-one cloud-based inventory management platform and ERP alternative that provides end-to-end inventory visibility and streamlined workflow management across channels in a single platform.
Key features
- Multiple location management
- Cost accounting
- Multiple price tiers support
- Integrated PoS, B2B, and EDI functionality
- Cross-channel data synchronization every 5 minutes
- Product tracking by several categories
- Customizable order routing
- Automated notifications, approvals, and inventory tasks
- Advanced real-time reporting
- Easily scalable
- Out-of-the-box integrations with 40+ tools and APIs
- Onboarding support, including knowledge base, academy, and community discussions
Deployment types
- SaaS
- Cloud
- Web-based
Pricing
- Standard plan starts at $325/month; Retailing plan starts at $550/month
- 14-day free trial
Best for
- Businesses with online, B2B, retail, and wholesale sales channels
Limitations
- Steep learning curve due to advanced functionality in addition to inventory control
- Nontransparent pricing
An intuitive, cloud-based solution, Sortly enables retailers to organize their inventories in line with their established processes at the shop and easily manage stocks.
Key features
- Multi-location support
- Label generation
- Custom fields and folders
- Item entries and photos
- Quantity-based, date-based, in-app, and email alerts
- Activity, inventory summary, low-stock, and transaction reports
- In-app barcode and QR code scanner
- Customizable user access
- Activity history
- Easy-to-use mobile app with offline access
- Weekly onboarding webinars
Deployment types
- SaaS
- Cloud
- Web-based
Pricing
- The pricing ranges from $0 to $149/mo for small and growing businesses and is customizable for enterprises
- 14-day free trial
Best for
- Businesses of all sizes
Limitations
- No out-of-box integrations, while API-based integrations are available for the Enterprise plan only
Oracle NetSuite Inventory Management helps businesses automate inventory management, reduce stock handling costs, and optimize inventory flow.
Key features
- Inventory tracking across locations
- Multi-location fulfillment
- Dynamic item reorder point management
- Automatic task and alert generation
- Inventory cycle counting
- Item lot and serial tracking
- Bin management
- Merchandise hierarchy
- Item 360 Dashboard with comprehensive item details
Deployment types
- SaaS
- Cloud
- Web-based
Pricing
- Customizable annual license fee calculated based on the core platform, optional modules, and number of users
- A one-time implementation fee for the initial setup
Best for
- From pre-revenue startups to fast-growing businesses
Limitations
- Can be costly for smaller businesses
- A steep learning curve
Inventory management selection criteria
To make the most of their custom inventory management systems, business owners should consider several key points when choosing the best solution.
Deployment type
Depending on the infrastructure type you plan to set up, you can choose between on-premise and cloud-based inventory management solutions.
Advantages
Advantages
Highly customizable Stronger security Complete ownership and control over the solution Not affected by internet outages
Affordable Easily scalable Quick implementation Accessible anytime on any device
Disadvantages
Disadvantages
High upfront and maintenance costs Difficult to deploy Long downtime
Internet-dependent Unsuitable for highly specific and complex needs Long-term costs can be higher
Business maturity
You should assess how well-established your business processes are, whether they are optimized and consistent, and how the staff performs to achieve your goals. This way, you can better understand your current needs and estimate your growth potential to select the best inventory management software.
You can start your business maturity evaluation with the following aspects:
- Business size
- Number of regular transactions
- Number of SKUs across locations
- Number of employees who need to use the solution
Cost
Research the offerings and pricing from different inventory management software providers to estimate your long-term spending and find the solution within your planned budget.
- Upfront software development costs
- Discounted annual subscription fees
- Maintenance costs
- Flexible plans
- One-time licensing fee
- Interest per transaction
- Regular monthly subscription fees
Sales channels
If you sell via different channels, make sure that your future inventory management software supports cross-channel data synchronization for smooth data exchange.
- Brick-and-mortar stores
- Self-service kiosks
- Ecommerce websites
- Third-party marketplaces like Amazon
- Mobile apps
Advanced technologies for inventory management
We can incorporate innovative technologies into your inventory management software to expand its capabilities and set up a fast, cost-efficient, and reliable supply chain.
AI/ML
Inventory systems powered by artificial intelligence and machine-learning algorithms can analyze order data, sales history, and inventory levels from multiple sources, forecast demand trends, and provide valuable insights that help improve inventory management decisions.
- Non-structured and IoT data analysis
- Bottleneck analysis and identification
- Automatic order placement
- Defective product or packaging detection
- Voice search capabilities
- Inventory stock and demand prediction
Blockchain
As a decentralized ledger, blockchain allows businesses to improve asset tracking, enhance transaction traceability, achieve greater transparency and security, and reduce inventory and supply chain management costs.
- Real-time visibility and inventory item tracking
- Product authenticity verification and counterfeit prevention
- Quality control
- Auditable record of supply chain processes for better compliance
- Secure and transparent transactions
- Smart contracts
IoT
Through a network of interconnected sensors and devices, IoT-based inventory management solutions automate data capture, provide real-time updates on the inventory’s quantities, location, and movements, and trigger replenishment notifications.
- Real-time data collection and transmission
- Efficient space allocation
- Precise location tracking
- Route planning
- Lead time estimation and optimization
Build a reliable inventory management solution with Itransition
Benefits of digitizing inventory management
Inventory accuracy
Unlike manual spreadsheets, inventory management systems automatically track every product’s quantity and location, show what’s in stock, and update inventory movements in real-time.
Increased productivity
Businesses can spend less time on routine inventory control tasks and reallocate the workforce to perform more high-value activities.
Optimal inventory levels
Inventory management systems provide real-time updates on your inventory and help prevent overstocking or stock-outs.
Reduced costs
With an accurate inventory account, companies can fulfill orders without faults, prevent backorders, and cut storage, handling, and transportation expenses for excessive stock.
Accurate planning
Real-time inventory data enables managers to correctly forecast the demand, plan stock replenishment, and make better business decisions.
Fewer errors
By automating inventory management processes, businesses can establish efficient, smooth workflows and prevent asset miscalculations and inventory routing mistakes.
Higher customer satisfaction
Inventory management software enables businesses to accurately meet customer demand and quickly deliver orders, fostering positive customer experiences.
Greater insights
Analytical data collected by inventory management software can be used to optimize stock availability, improve the supply chain, identify sales trends, and boost overall profitability.
Custom inventory management software FAQ
How much does it cost to build a custom inventory management solution?
The cost of creating a bespoke inventory management solution varies greatly depending on the project’s complexity. Custom software’s cost can start at $50,000 for small businesses, $80,000 to $200,000 for mid-sized companies, and from $600,000 and over for large enterprises with multiple locations and complex inventory.
Cost factors
- Development team size and pay rate
- Technology stack
- Software development duration
- Software or hardware integrations
- Project size
- Onboarding and staff training
- Number, type, and complexity of features
- Post-deployment support and maintenance
- Interface design
How long can it take to develop an inventory management solution?
It can take from several months to 1-2 years to develop custom inventory management software depending on your requirements.
Generally, the development process takes longer in the case of more complex, highly custom systems, niche features or interfaces, and a large number of integrations.
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