Effective inventory management is crucial for eCommerce businesses to ensure smooth operations, minimize stockouts, and maximize profitability. Fortunately, there are several inventory management systems and extensions available that integrate seamlessly with Magento platforms, providing efficient inventory tracking, order fulfillment, and more. In this article, we’ll explore the top seven inventory management extensions for Magento 2 that can revolutionize your eCommerce business.
Why Is Inventory Management So Crucial?
Inventory management is vital for eCommerce success. Effective inventory management in your Magento store improves customer experience, optimizes cash flow, and aids decision-making for ordering and restocking. By leveraging it efficiently, you can ensure smooth operations and meet customer demands. Key benefits of inventory management are as follows.
- Enhancing Customer Experience:
- Prevent out-of-stock situations, improving customer satisfaction
- Provide accurate product availability information to customers
- Optimizing Cash Flow and Fulfillment:
- Prevent overstocking or understocking, optimizing capital usage
- Ensure efficient order fulfillment and timely deliveries
Inventory control also helps determine:
- When to Order the Next Shipment:
- Prioritize replenishment based on sales velocity and demand
- Proactively restock items before inventory runs out
- What to Order in the Future:
- Analyze market trends and upcoming demands
- Help decide which products to order for future trends
- How Much More to Order:
- Analyze sales patterns and historical data
- Inform decisions about the quantity of products to order
Top 7 Best Magento Inventory Management Extension For Your Business
Currently, there are many inventory management tools on the market.
And in this article, we will highlight the top 7 Magento Inventory Management extensions.
Magento 2 Inventory Report by BSS
Magento 2 Inventory Report by BSS is a powerful extension that provides detailed reports and analytics to help you gain valuable insights into your inventory. With this extension, you can monitor stock levels, track product movement, analyze sales trends, and identify slow-moving or overstocked items. The intuitive dashboard and customizable reports make it easier to make informed decisions and optimize your inventory management strategies.
- Automatic listing of stock movements in a grid format
- Separate grids for tracking quantity changes per product
- Convenient export of inventory reports in .CSV format
- Effortless deletion of inventory logs from the grid
- Distinction between guest and customer orders
- Direct link to customer details in the report grid
- Salable quantity tracking
- Automatic quantity updates for canceled orders
- Tracking of product quantity changes via REST API
- Compatible with the Hyva theme
- Community: $99
- Enterprise: $249
CE, EE: 2.3.x – 2.4.x
Multi-location Inventory Management by Magestore
Magestore’s Inventory Management software offers a comprehensive set of features to streamline your inventory processes. It enables you to sync stock status in real time, track stock levels, manage multiple warehouses, set up low stock notifications, and handle product bundling and serialization. It also integrates with barcoding systems, making inventory tracking and fulfillment more accurate and efficient.
- Centralized Inventory Control: Manage all inventory-related activities from a single platform, providing a holistic view of stock levels, product data, and order fulfillment.
- Real-time Inventory Tracking: Track inventory changes in real time, ensuring accurate stock visibility and preventing stock outs or overselling.
- Multi-Warehouse Management: Effectively manage inventory across multiple warehouses, optimizing stock allocation and order fulfillment based on warehouse locations.
- Low Stock Notifications: Receive automated notifications when stock levels reach a specified threshold, allowing proactive reordering and preventing out-of-stock situations.
- Serialized Inventory Management: Assign unique serial numbers to individual products for improved traceability, warranty management, and tracking of individual item history.
- Barcode Scanning and Labeling: Utilize barcode scanning and labeling functionalities to streamline inventory management processes, including receiving, picking, and stocktaking.
- Integration with eCommerce Platforms: Seamlessly integrate with popular e-commerce platforms like Magento, ensuring seamless synchronization of inventory data between the online store and the inventory management system.
- Reporting and Analytics: Generate comprehensive reports and analytics to gain valuable insights into inventory performance, sales trends, and demand forecasting, aiding in better decision-making.
Pricing: Custom quote based on:
- Number of stores
- Business requirements
- Level of support and services
Magento 2.3.x – 2.4.x
Multi Warehouse Inventory by Amasty
For businesses operating across multiple warehouses, the Multi-Warehouse Inventory extension by Amasty is an excellent choice. It allows you to manage inventory across different locations, track stock movements, and allocate stock based on warehouse availability. The extension also offers advanced features like inventory reservations, backorder management, and warehouse-specific shipping rules, ensuring seamless order fulfillment regardless of your warehousing setup.
- Multi-Warehouse Control: Manage and track inventory across multiple locations for optimized stock allocation and order fulfillment.
- Warehouse-Specific Stock Management: Set individual stock levels and availability for each warehouse, preventing stockouts and overselling.
- Inventory Reservations: Reserve stock quantities for specific orders or customers to ensure accurate allocation.
- Warehouse Reports: Gain insights into stock levels, order fulfillment, and warehouse performance through detailed reports and analytics.
- Fulfillment: Easily create shipments in one click and set custom shipping methods and rates.
- Community: $349
- Enterprise: $649
- Magento Cloud: $949
Magento 2.3, 2.4
Advanced Inventory by Wyomind
Wyomind’s Advanced Inventory extension provides advanced inventory management capabilities for Magento 2. It enables you to manage stock across warehouses and locations.
- Unlimited Stock Levels: Define multiple stock levels per product
- POS/Warehouse Management: Manage stocks for each location
- Inventory Synchronization: Automatically sync POS inventory with Magento
- Stock Overview: View stocks for each location in a treeview
- Order Dispatch: Manual or automated order dispatch based on country or zip codes
- Permissions: Assign permissions for each location
- Frontend Display: Display stock levels and POS info to customers
- Google Map Integration: Show POS locations on a map
- Stock Tracking: Receive low stock notifications per location
- Dropshipping Support: Notify POS when orders are placed
- API Integration: Remotely manage stocks via API
- Automatic Availability: Update product availability based on stock levels
From $295 (~ €275)
Advanced Inventory Management by Veeqo
Veeqo’s Advanced Inventory Management extension offers centralized inventory control for e-commerce businesses. It integrates with Magento 2 and various other platforms, consolidating inventory from multiple channels into a single interface. The extension provides real-time stock updates, order syncing, and automated stock replenishment to prevent stockouts and improve fulfillment efficiency.
- Manage inventory levels across various platforms (Amazon, eBay, Etsy, Shopify, etc.)
- Ensure accurate knowledge of stock, sales, and potential sales
- Provide data-driven inventory forecasting for you to plan for the future
- Analyze past and trending demand for accurate inventory needs
- Streamline purchasing process and manage suppliers with an all-in-one tool
- Integrate with Demand Forecast Tool for intelligent restocking
- Automatic adjustments to average cost price for accurate profit reporting
- Effortlessly manage product bundles across all sales channels
- Track availability of individual products in bundles to prevent overselling or stockouts
- Update stock levels in real-time through mobile app, scanner, and web app
- Instantly reflects stock adjustments across all sales channels
Multi Warehouse Inventory by Aitoc
Aitoc’s Multi Warehouse Inventory extension is designed to streamline inventory management for businesses with multiple warehouses. It allows you to manage stock across different locations, track inventory levels, and automatically route orders to the nearest warehouse for faster fulfillment. The extension also provides visibility into warehouse-specific stock levels and offers features like stock transfers and inventory adjustments.
- Intuitive interface for creating multiple warehouses with a single grid view
- Real-time tracking of stock availability across warehouses
- Automated notifications for low stock, ensuring optimal inventory levels
- Streamlined order fulfillment with warehouse selection rules
- Centralized management of suppliers and restocking orders
- Simplified product stock management with reorder point and optimal order quantity settings
- Flexibility to update warehouse assignments for specific orders, improving shipment generation
- License: $245.00
- Pro installation: $59.00
- Extended support (1 year): $79.00
CE, EE: 2.3.x – 2.4.x
Inventory Management by Unleashed
Unleashed’s Inventory Management extension offers seamless integration between Magento 2 and the Unleashed inventory management system. It provides real-time inventory tracking, order management, and stock level synchronization between platforms. With features like batch and serial number tracking, multi-currency support, and customizable reports, this extension is ideal for businesses with complex inventory needs.
- Real-time Inventory Management:
- Live, 24/7 visibility of stock, value, and location
- Batch/serial tracking for traceability and profit margin insights
- Seamless Integrations: Unify with other cloud platforms for an enterprise-level solution
- Efficient Purchasing: Take control with powerful buying tools for timely and cost-effective procurement
- Streamlined Manufacturing: Optimize assembly by knowing stock availability and requirements
- Unified Sales Channels: B2B portal and seamless integration with eCommerce and POS platforms for synchronized sales.
- Medium (for mid-sized businesses): $349/month, paid monthly or $319/month, paid annually
- Large (for scaling businesses): $649/month, paid monthly or $599/month, paid annually
- Larger Plus (for emerging enterprises): $999/month, paid monthly or $919/month, paid annually
Efficient inventory management is vital for the success of any eCommerce business. The top 7 Magento 2 inventory management software and extensions discussed in this article offer a range of features to help you streamline your inventory processes, enhance order fulfillment, and optimize your overall business operations. Choose the one that aligns with your business requirements and take your inventory management to the next level.
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