E-Commerce 101

Top-rated inventory management systems for your Shopify store

By Finaloop Team
May 16, 2022

Managing inventory has never been an easy task. It wasn't easy back when Gram and Gramps managed their brick-and-mortar grocery store, and with ecommerce, this process has just intensified.

How do you keep track of your inventory and costs when you are selling on Shopify and Amazon or Etsy? How do keep track of your quantity in stock when your online sales are constantly moving? 

The complexity of managing this process has only increased over time, but, on the plus side, the number of options available to help you manage the process has also increased. 

In this blog, we'll discuss the top-rated inventory management systems (IMS) for Shopify stores to help you automate and streamline this complicated process. The list below is based on ratings and reviews from Shopify sellers just like you.

First, let's catch you up....

In our blog on Fundamentals of inventory management: How to track your ecommerce inventory, we discussed two very important tasks every Shopify seller should know how to do:

  1. Managing your inventory to make sure you always have enough stock to meet customer demand, and
  2. Accounting for your inventory costs and COGS properly so you get your P&L and balance sheet in shape, accurately report your taxes, and correctly manage your inventory expenses.

We also cover all the key terms you should know in order to properly calculate the ending inventory balance for your Shopify store.

We continued our inventory series with our blog on Shopify Inventory Management Tools and Tips. In that blog, we discuss the pros and cons of self-managing your inventory through a Google Sheet or Excel tracker versus using an IMS. We also cover when to consider if a switch is right for your business and what features to look for in any tracker or IMS. 

Helpful hint: You can also check out that blog for a free Google Sheet inventory tracker template.

If you are reading this blog, we'll assume it means you have already done the research and decided an IMS is the right way for you to go. Now comes the next step of deciding which of the many IMS options is right for your business.

 

What is an IMS?

IMS is software that can help you manage various aspects of your inventory and supply chain by integrating across online stores, marketplaces, and warehouses to sync inventory updates in real-time.

For example, let's say you sell emoji T-shirts on Shopify and Amazon. You carry multiple types of designs - happy face, sad face, party emoji, the kissing face, you even sell the emoji wearing a mask. Each product comes in multiple sizes and colors.

You decide it's time to find an IMS that can integrate to both your Shopify and Amazon stores and to your warehouse. This way, when there is a sale on Shopify of a party emoji T-shirt in red, size M, it reduces the count of this product for both Shopify and Amazon.

The IMS can alert you when it's time to reorder more T-shirts based on forecasted sales. Some systems even automate the purchase order to your vendor. 

There are lots of IMS out there each with its features, pros, and cons. The key is finding the one that checks off all the boxes on your wish list.

 

Best inventory management systems for Shopify brands

1. Stock Sync

Key features:

  • Connect to multiple sources including suppliers, warehouse management systems, or dropshipper to update inventory feed automatically
  • Manage multiple feeds in a single platform
  • Update Shopify inventory with any available connection method
  • Customize reports for your needs

Overall rating on Shopify: 4.7 stars out of 970 reviews

Cost: Stock Sync offers a free plan and a 14-day trial. Paid plans start at $5/month.

2. Trunk

Key features:

  • Real-time stock syncing and bundling

  • Multi-channel inventory management within the same dashboard

  • Low stock alerts

  • Unlimited sales channels and listings

Shopify rating: 5.0 stars out of 353 reviews.

Cost: Trunk offers a 14-day free trial. Pricing is based on the number of orders per month, with their essentials plan ranging from $35 per month for up to 100 orders to $279 per month for up to 10,000 orders.

3. Katana

Key features: 

  • Geared towards manufacturers
  • Manage raw materials, finished products, and sales orders all from the same place. 
  • Visual dashboards make it easier to keep track of your production process.

Shopify rating: 4.9 out of 132 review

Cost: Katana pricing plans begin with the essentials plan at $99 per month for 1 user.

4. Syncio Multi Store Sync

Key features:

  • Real-time inventory updates
  • Product across multiple stores
  • Fulfillment tracking

Shopify rating: 4.8 stars out of 155 reviews.

Cost: Syncio's prices range between $19 per month and $69 per month.

5. ShipHero

Key features:

  • Multi-warehouse inventory management

  • Packing, picking, and shipping functions

  • Real-time inventory and order tracking

  • Kit creation and cycle counting

  • Integrations with USPS, eBay, and Amazon

Shopify rating: 4.8 stars out of 141 reviews.

Cost: Shiphero Pricing starts at $499 per month.

6. SKULabs

 

Key features: 

  • Inventory management for all items across multiple stores
  • Send POs to suppliers
  • Track inventory across multiple warehouses

Shopify rating: 4.6 stars out of 58 reviews.

Cost: SKULabs pricing plans begin at $499 per month for 2,500 orders and up to 10 users.

7. Skubana

Key features:

  • Easy integrations to Shopify, Shopify Plus, and Shopify POS
  • Print shipping labels from major carriers
  • Synchronize inventory across sales channels, warehouses, FBA distribution channels, etc.
  • Automated POs based on lead times, sales, and seasonality
  • Helps account for costs per each SKU

Rating on Shopify: 4.5 stars out of 75 reviews

Cost: Skubana works on a custom pricing model, with a minimum $1,000/month fee.

8. Orderhive

Key features:

  • Real-time multi-channel inventory updates
  • Automated purchase order (PO) creation
  • Bulk add, update, or delete products
  • Easily transfer stock between warehouses
  • Low-stock and out-of-stock alerts

Shopify rating: 4.4 stars out of 152 reviews.

Cost: Orderhive plans range from $95 per month to custom quotes starting at $500 for multi-channel, high-volume sellers.

9. Sellbrite

Key features:

  • Best for Shopify and Shopify Plus owners that want to sell products in marketplaces like Amazon, eBay, Etsy, and Walmart
  • Supports multiple warehouse locations and integrates with FBA
  • Control inventory quantities from Shopify admin

Shopify rating: 3.8 stars out of 165 reviews

Cost: Sellbrite for Shopify has a free plan for up to 30 orders per month and goes to $99 per month for up to 2,000 orders. 

 

Final thoughts on inventory management for your Shopify store

Having an inventory management process in place for your Shopify store is crucial to meet customer demands, prevent inventory waste, and manage your inventory costs.

There are so many great inventory options for Shopify stores. In order to choose which you want to move forward with, we recommend first making a list of features you can't compromise on. This will be the list you consult when checking out any new system.

After that, read through the sites and reviews from customers to see which are worth trying. Many of them will give you an option of a free trial to play around a bit first and get a real feel of the system.

Of course, we are always here to answer any questions you have on choosing an IMS, accounting for your inventory costs, and any questions on automating ecommerce bookkeeping for your Shopify store.

 

About Finaloop

We are a technology company providing automated end-to-end accounting service to ecommerce businesses. Our system connects to your apps, syncs all your data, and reconciles your books in real-time, replacing your bookkeeper. We offer reconciled books available 24/7, tax-saving insights, and a single place for all your financial data.

*The information provided on this website does not, and is not intended to, constitute legal advice. All information, content, and materials available on this site are for general informational purposes only. Readers are advised to consult with their attorney or accountant with any questions or concerns.*

Recommended for You