Inventory management software can help businesses track stock levels, identify changes in customer demands, and simultaneously respond to such changes effectively in order to maintain order fulfilment. This article includes a list of the three best inventory management software in Australia, having a minimum of 4.1/5 star user ratings.
Having an appropriate inventory management system might be crucial for businesses. From sourcing products to storing and distributing them, inventory management software can effectively manages all such operations. In addition, such tools can also help businesses analyse the potential future demands of customers via a centralised dashboard.
How does inventory management software work?
Inventory management software are tools that help businesses track, organise, store and manage multiple products in order to satisfy the customers’ demands efficiently. Such tools potentially help businesses ensure that there is ample inventory required for day-to-day operations. In addition, they also help streamline the process of how companies purchase, produce, store and distribute items.
In this article, we have curated a list of the best three inventory management systems having headquarters in Australia. The tools have been selected based on considerate factors such as software having user ratings above 4.1/5 stars and more than 10 user reviews in the past year. The full methodology for selecting the tools can be found at the end of this article. In addition, the tools listed below are arranged in alphabetical order.
- Value for money- 4.3/5
- Features- 4.3/5
- Ease of use- 4.5/5
- Customer support- 4.1/5
Datapel WMS is both inventory management and warehouse management software that help businesses improve inventory control while integrating with existing systems. This software provides real-time insights to users that potentially helps in efficient order fulfilment and automated return and purchase order management. With the help of this tool, users can get full visibility in their warehouse workflow with user action audit trails, reports, notifications, and dashboards.
Moreover, Datapel also helps users take a full 360-degree view of their operations from an inventory-centric perspective and thereby manage their orders efficiently. Users can take advantage of the ‘order demand’ feature to anticipate stock requirements and drive purchase re-ordering from internal or external suppliers. This software also lets users integrate with their logistics partners to ensure timely delivery and pickups. This tool does not offer a free version, and additional details on the paid plans can be found on its official website.
- Value for money- 4.2/5
- Features- 4.1/5
- Ease of use- 4.1/5
- Customer support- 4.3/5
DEAR systems is an inventory management tool that helps businesses get visibility into their stock levels and order statuses, irrespective of the volume of products. Users can benefit from the tool’s strategic elements like supplier analysis and financial summaries or incorporate crucial day-to-day features like purchase orders, returns management, barcode scanning, notification reminders, reporting or batch recalls.
In addition, with DEAR, users can set low stock reorder points to trigger a purchase order when they’re running low automatically. Moreover, the automated backorder feature ensures that all orders are fulfilled when the stock arrives. The tool’s smart reordering feature allows forecasting of future product sales and generating email alerts to reorder products from merchants. DEAR also allow users to use drop shipping to sell items they don’t physically stock. With this tool, every transaction across all the users’ sales channels is synced immediately, providing them with an accurate view of your business financials in real time. This tool does not offer a free plan, and other details on the paid versions can be found on the tool’s website.
Alt text: simPRO’s inventory management software gives users complete visibility over the materials they have in stock.
- Value for money- 4/5
- Features- 4/5
- Ease of use- 3.9/5
- Customer support- 4.1/5
simPRO’s inventory management software gives users complete visibility over the materials they have in stock and their exact location. With the help of this tool, users can group catalogue items together according to their product line or functional type and assign them to a job or project. In addition, they can request multiple suppliers’ pricing at the same time and see them side-by-side for a simple price comparison.
Additionally, the software notifies users every time when their stock levels run low. Moreover, once users have loaded stock into the tool’s database, the storage device feature shows where the materials are physically located. Users can transfer those items to different storage locations (including warehouses or vehicles), monitor stock levels and run a stocktake. simPRO also allows users to view details on receipted items and materials transferred from storage to a job and manage stock takes or adjustments. Other helpful features of the tool include report generation, returns management, purchase order management and calendar syncing. This tool does not have a free version available, and other information on the paid plans can be found on its website.
To be a part of this list, software had to meet the market definition of inventory management software, and other criteria as mentioned below:
- The tools justify the market definition of inventory management software: ‘Inventory management software help businesses track and manage product location, item details and stock level, as well as report on trends to inform forecasting decisions, in order to reduce the costs of holding overstock and the missed revenue from out of stocks’.
- All three online booking systems have headquarters in Australia.
- The tools have the following core features:
- Inventory information
- Inventory optimisation
- Product identification
- Have over 10 user reviews in the past year (1 Dec 2021 to 1 Dec 2022)
- They have average overall ratings of above 4.1/5 stars.
- We selected the three best tools with the highest average overall ratings from our resultant list compared to other products.
- These tools also have the highest ratings regarding the following four features —customer support, ease of use, value for money, and functionality.