11 Best Inventory Management Software for Small Businesses in 2023

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Inventory management software should help businesses easily track items or parts throughout the supply chain, give performance insights, and have industry-specific features. Some are part of point-of-sale (POS) software, while others integrate with the software of your choice. We considered over a dozen inventory control systems for price, features, quality, and how well they work for specific business needs.

Based on our evaluations, the best inventory management software for small businesses are:

  • Lightspeed Retail: Best for retailers
  • Zoho Inventory: Best inventory management software for perishable items
  • EZRentOut: Best for rental companies
  • Square: Best budget inventory management system for businesses with limited inventory and needing a point-of-sale system
  • Katana: Best for manufacturing companies
  • Agiliron: Best for B2B sales and Amazon fulfillment
  • Odoo: Best free inventory management system
  • Cin7 Orderhive: Best for growing ecommerce companies
  • MarketMan: Best for restaurants
  • Ordoro: Best for volume sellers and dropshippers
  • Orderry: Best for repair shops and services

Inventory Management Software Compared

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*Pricing plans are based on accounts that opt for Lightspeed Payments. If you use another processor, monthly fees increase by $50 per month. **This service limits the number of users but lets you add employees at a reduced price.

Best Inventory Management Software Quiz

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Lightspeed Retail: Best Small Business Inventory Software for Retailers

Zoho Inventory: Best Inventory Management Software for Perishable Items

EZRentOut: Best Small Business Inventory Software for Rental Companies

Square: Best Inexpensive Inventory Software for Limited Inventory

Katana: Best for Manufacturing Companies

Agiliron: Best Inventory Software for B2B Retail & Amazon Fulfillment

Odoo: Best Free Inventory Software

Cin7 Orderhive: Best Small Business Inventory Software for Growing Ecommerce Companies

MarketMan: Best Inventory Software for Restaurants

Ordoro: Best Inventory Software for Volume Sellers & Dropshippers

Orderry: Best Small Business Inventory Software for Repair Shops & Services

How We Evaluated Inventory Management Software

We looked primarily for inventory-first programs as opposed to POS programs with inventory (although two POS systems made our list). We then narrowed our list of over two dozen software systems to those that are easy to use and have pricing plans suited for SMBs. After that, we evaluated for inventory tracking, reports, low-stock alerts, and more. We also gave points for handling multiple warehouses or sales channels, integrations, and customer support.

Based on these benchmarks, Lightspeed Retail is the best inventory management software for small businesses. It received the highest overall score (4.51 out of 5) among the inventory platforms we reviewed.

Click through the tabs below for our full evaluation criteria:

Inventory Management Software Frequently Asked Questions (FAQs)

Bottom Line

The right inventory management software for your small business can save you time, headaches, and money. Many are tied to point-of-sale systems, but some work alone or with accounting software and are designed for specific industries, from warehouses to rentals and repair shops.

Lightspeed is our No. 1 choice for the best inventory management software. With an excellent starting price, it nonetheless checked off all our boxes for features for inventory tracking, purchase order management, and reporting. You can get special plans for retail or restaurant, and users found it overall easy to use once they learned the system. Plus, it includes a POS. Sign up for a free trial to get started.

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