Deal with inventory management is always one of the most important tasks in ecommerce, especially if you also sell on different marketplaces. Especially IF you sell on Amazon it is directly a critical aspect because of all the implications it has.
Stock-outs are a real problem from the moment we are not able to meet orders that will most likely end up in the competitor’s listings. And, of course, you must consider the negative implications of running out of stock on your performance metrics suc as:
- Days out of stock (this will KILL your rankings)
- Pre-Fulfillment Cancel Rate
- and so on
However, overstocking also means additional costs in terms of logistics, products to be discontinued or even perishable products that end up becoming disposable after spending months in our own warehouse or paying fees to Amazon FBA.
In this comparison you will find the best inventory management tools for Amazon so that none of this happens to you and, therefore, you have the peace of mind that you are providing a service at the level that your customers demand (and that Amazon demands).
There are quite a few options on the market with their advantages and disadvantages and many of you have asked us which one you should choose. That’s why we’ve decided to write a complete comparison and, in this way, answer all those potentially interested.
5 best inventory management tools
In carrying out the study you are about to read we have used 4 basic criteria:
- price
- learning curve
- features quantity (and quality)
- how user-friendly it is or is not
We have been as objective as possible and based on our experience using all the tools reviewed. You may miss some of them, but that doesn’t mean that we think they are bad, we simply find more recommendable those that we know and have applied in real projects.
Forecastly
This tool fulfills exactly its purpose: it simplifies the day-to-day task at the same time that it is able to anticipate, based on data, the demand we are going to receive. In fact, this is its main feature and the one in which it stands out the most.
Features:
- Advanced Replenishment Stats
- Industry-Leading Demand Forecasting
- Inbound Shipment Tool
- Insightful Account Dashboard
It works really well, so much so that a few years ago – since 2018 to be exact – Forecastly was acquired by one of the leading all in one suites when it comes to tools for Amazon: Jungle Scout.
It is important to emphasize as a really differential advantage, that we can connect Forecastly with our eCommerce to comprehensively manage sales in both channels simultaneously.
The don’ts? It only works for Amazon USA, Canada, UK and Mexico. So you can’t use it in Europe or Asia. Plus, it’s a little bit more expensive than some of it’s competitors.
Forecastly can also be accessed on the “inventory management” feature inside Jungle Scout.
You can read a detailed review on Forecastly here.
Ordoro
Ordoro is the second in our top list of inventory and management tools. We can certainly say that it is a very complete solution.
It may not be as powerful in estimates as Forecastly, but in return its level of integration with the different carriers is 10.
It allows you to automate to a large extent the part of the process that involves shipping and tracking.
As we just said, “integration” is the key word at Ordoro. We see this both in the shipping companies and in the different CMS and Marketplaces.
The don’ts: by far, the most expensive tool on this vertical. So, if you’re looking for every feature included on the software, it may cost you around $1000 a month.
You can read a detailed review on Ordoro here.
Tradegecko
It has a very complete dashboard that automatically records every sale and every purchase, so we do not run the risk of having outdated data at any time.
Tradegecko is an advanced tool that works really well for all those sellers who market their products in FBA. It manages the different warehouses where we have our merchandise and even allows us to manage the shipment of stocks to them when necessary.
The don’ts: pretty expensive in relation to the number of orders you can process monthly. $199 for 1000 orders a month it’s just too much. But I guess, since it was acquired by Quickbooks, pricing tiers rose up.
You can read a detailed review on Tradegecko here.
Sellbrite
Go Daddy’s inventory tool (how weird is that!)
If you know Sellbrite you won’t be surprised to see it on this list of the best inventory management tools. As a good all in one software for Amazon it covers a wide spectrum of features and aspects within selling on this marketplace. To put it another way: Sellbrite is not only for inventory management.
This will be discussed in future posts, but let’s focus on this last functionality. Sellbrite is able to perform a multi-warehouse management, automatic and in real time. For this it connects directly with Amazon and this allows us to have a perfectly updated inventory 24 hours a day and 7 days a week.
The don’ts: man, I don’t trust GoDaddy for the domains, so I won’t trust them with my inventory xD Besides that, it has only plans for 2,000 orders a month, which may not work for every seller.
You can read a detailed review on Sellbrite here.
Veeqo
We close our top 5 with Veeqo, a tool that we have not yet reviewed (although we will do so soon).
Let’s just say that it divides its services into three major logistics areas:
- inventory
- shipping
- and warehouses
All three are important, but we will focus on the first as the subject of this analysis.
Like some of the other options mentioned, Veeqo allows you to connect multiple channels, so that all your warehouses will be monitored from a single platform. You can combine the warehouses that you manage and those that Amazon FBA works with. The information will always be consolidated to avoid problems.
It implements stock forecasts, purchase management, barcode scanning software, creation of automatic tasks based on flows… it is a great tool.
Price comparison
We will compare them using the minimum order per month rate.
Which one is better?
Actually, as you can see, they play in very different leagues. If you are a seller with a “serious” sales volume, I would stay away from Ordoro, Tradegecko and Sellbrite, as their target is small sellers and companies.
On the other hand, between Forecastly and Veeqo, I would stick to the first one. Why? pricing and sclability.
Let’s say that you are dealing with +10,000 orders a month. You’d be facing $374 using Veeqo vs $240 on Forecastly.
BUT if you need warehouse management (picking, warehouse transfer, barcode scanner, optimizing picking routes…) + multi user management and different user roles, you will just find them on Veeqo.
Advantages and disadvantages of these inventory tools
First of all, you should consider whether you need a specific solution like Forecastly or Veeqo or, in fact, you want something that solves more than just stock management.
The main difference is usually that the more features, the more difficult it is to learn how to use it efficiently. It is also very likely that you are paying for options that you will never or almost never use.
What we would also recommend is that the tool you choose should be as automatic as possible. When you get the machines to free up staff we will be gaining efficiency, productivity, freeing up resources and ultimately improving our service level and ROI.
Final thoughts
Here’s what I would do:
- grab a pen and paper
- write down the needs /goals you have
- choose what software you need
Then, see what it costs and don’t try to stick to the cheapest one because the costs of having problems with inventory management will be much higher than paying and extra $30 or $300 more a month, trust me.
