7 Free Tools for Inventory Management with PROS & CONS – 2021

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Last Updated on May 19, 2021 by Sarwar

Inventory management is one of the most important parts of a business for tracking inventory levels, orders, sales, managing stocks, and deliveries. And, If you are running a business or want to start, This article can work as a gold mine for you because here we are going to talk about the 7 free tools for inventory management that you can easily use for your business.

free tools for inventory management

What is Inventory Management and How it can help us in our business?

In simple words, Inventory management is a task to manage the data of stocks, order, equipment’s, deliveries, refunds, etc… in a ordered form. Basically, These types of software’s are used by Small-Scale to Large-Scale business.

It can benefit your business to avoid losses, building good relationships with your customers, and adding good value to the consumer’s life by doing good time management and performing easy tasks through the software.

Can I use Excel for Inventory management? Will that be Easy or Hard for Beginners.

I have listened to many people talking about MS. Excel for inventory management. Yaa, of course, It is a good software provided by Microsoft office with one-time activation cost and also It is being used by many great companies also to manage the stocks and billing.

But will it be easy for the beginner to get started with MS. Excel? The direct answer to this question is no because there is also a complete course to learned to start with MS. Excel you can’t just easily type something in excel to manage the data.

So, That’s Why it is recommended to use user-friendly tools instead of those complicated Excel spreadsheets as a beginner.

Here is a List of FREE tools for inventory management.

  • Odoo
  • ABC Inventory
  • Skyware
  • Zoho Inventory
  • SquareforRetail
  • Microsoft Excels Managing Templates
  • GOGSTBILL (Only for Indians)

Odoo – Open Source Inventory Management Software with FREE Comunity Edition

Odoo - Inventory Management software free

Odoo is a Great Open Source Inventory Management Software and having over 7 Million users joined with them. This platform provides amazing features to build a good company with easily manageable tools.

This Application Provide everting that you want to use starting and expanding your business.

  • It helps to Boost your Company with CRM and POS Features
  • Automated process to Streamline your Operations (Inventory, Purchase, and MRP)
  • Great Website Builder combining with eCommerce Websites Feature
  • Manage your Finances with Invoicing and Accounting
  • Expand your Business using Email Marketing and Marketing Automation

There are many more features you can explore by using basically Odoo is a Great Open-Source FREE software for Inventory management. You should absolutely go with that.

Pros
  • Fully Cloud-Based Software
  • Amazing Features
  • eCommerce Website Builder (Personal Favorite)
  • Good Marketing Planner Tool
  • It offers integration with Whatsapp, Amazon, and 16,000 other third party application
Cons
  • Lack of Support
  • Complicated Pricing Plans
  • Hard to Maintain

ABC Inventory – FREE Inventory Management Software for Small and Mid-Sized Business

ABC Inventory - Free Inventory Management tool

ABC Inventory is a FREE Inventory Management Software by Almyta Control System (ACS). This Application as designed to control every aspects of inventory management. There is no limits of records storage or usage limitations in this software.

But unfortunately, this software doesn’t have a Support and Helping service in the free version you can use this forum to solve your problem related to this software.

Here are some of the amazing features you can get in this tool for absolutely free.

  • You can Handle Multiple Companies with their warehouses
  • Multiple Currencies with Rate-Auto Update Feature
  • Multiple Workstation configurations feature
  • Easy Logo Uploading
  • Good Data Encryption with Password Protection Feature

There is Numerous amount of feature provided in this software it is not possible to write all of them here in a descriptive way. Click here to check more features of that software.

I really suggest you this tool for inventory management. If you are looking for something free with good features.

Pros
  • Easy Control on High Priority Inventory
  • No Limits of Workstation and Database Records
  • Require minimal system requirements
  • Backup and Restore Feature available
Cons
  • Single User
  • No Support in Free Version
  • Old Style Panel

Skyware – Complete FREE Web-Application for Inventory Management

Skyware is a FREE Web-Application for Inventory Management for small businesses with Easy use customized panel and Inventory Tracking Software.

You can easily set up your account with Few clicks and Each section has Help Features for the Free Users also. Here is a complete overview of the features provided in this tool.

  • It has Multi-Location accessed Inventory Management
  • LIPO, FIFO and AVERAGE Inventory Cost Reporting and Management System
  • Tracking Software Included
  • Simple Click Account Setup
  • Absolutely FREE Web-Application

Basically, If you have just started up with a business then this can be a great choice for you because It is easy to use and absolutely free as Single User.

Pros
  • Single User Version Completely FREE – No Hidden Cost
  • Easy Setup
  • The help button on every page of the tool
  • Accessible from Anywhere on the WEB
Cons
  • No Option Input for Barcode Scanning
  • Less Integration with Third-party applications
  • Less Detailed Report

Zoho Inventory – Most Trustable Brand according to my personal experience

Zoho is an Amazing software used by me personally for my various business. This software is present both offline and online with easy to use dashboard. This software has numerous amount of features some of them can be discussed here and for more, you can check the official site.

  • This Software is present both offline and online for easy customization and maintenance from anywhere on the globe.
  • Easy Integration with a variety of platforms such as Shopify, Amazon, Etsy, Etc…
  • Detailed Report with easy generation and shareable feature.
  • Easy Warehouse management with tracking and management system.
  • Generate Reports and Analytics in a single click

Basically, I am having an awesome experience with this software. So, That’s Why I personally recommend you to use this software. Its free version is also having amazing features with 1 Warehouse and 2 Users.

Pros
  • Support is Really Amazing
  • User-Friendly Accounting and Inventory Management Interface
  • Easy to Maintain Data
  • Offline and Online Service
Cons
  • Limitation in Free Version
  • Sometimes the Software get’s slower and start lagging

Square for Retail – A Complete set for business retail services

Square for Retail - Best Billing and accounting software for free

Honestly telling this is the first time I came to knew about this software. But, After reading its features I hope that it will give a good user experience to its users.

If you are running a retail inventory software for your store. Then this Square for Retail can be a good option. Basically, all the software discussed above works for Retail business also but this tool is specially built for that purpose.

Square for Retail is a complete package of the retail business toolkit. Here are some of the amazing features that can help you choose your best.

  • Retail POS application support
  • Easy and Smart Customer Dictionary
  • Easy manageable Inventory with amazing features
  • Built in Employee Management
  • User Friendly Panel

After reading all features provided with this software. This can be a great choice for your retail business. Give it a try and let me know its review in the comment section.

No Pros and Cons because I am not having a personal review from my side. That’s Why its your time to give the pros and cons. 🙂

Microsoft Excel Managing Templates – Almost FREE

You may be thinking, In the introduction questions of this article we have discussed that we should not use Ms. Excel without Learning it and having a good experience.

Yaa absolutely that was correct but here we are talking about the Templates. There are some platforms on the internet that provides free and paid templates for inventory management. Use this Search term to get some templates for free “Inventory management excel template free download

Here are a few links you may find helpful.

Pros
  • Free to use for Lifetime or with minimal costs
  • Easy Customization
  • No Internet connection Needed
Cons
  • Bad Interface
  • Needs the practice to use

Personally, I have used excels for 2 years. When I was having no software for inventory management free. Yaa, But If you are having good knowledge about it then It is good for you.

GOGSTBILL – Complete Free Solution for GST Billing

If you are an Indian then you might know about GST (Good Service Taxes). This Web-Application can’t be fully considered as Inventory Management Software. But you can use it for billing, accounting, managing customers and vendors, and many more… Absolutely for free.

This software comprises amazing features that come with paid software and can be a good alternative for Paid GST Billing Softwares.

Here are some features that will blow your mind.

  • Software is designed with proper documentations of GST rules and regulations.
  • You can easily create unlimited products and manage all stocks in just few clicks.
  • Generate Performa and Quotation with simple interface in just few clicks.
  • Build Credit & Debit Note against any invoice.
  • Multi-Currency Invoice Generation.
Pros
  • Excellent Support Team
  • Safe and Secure
  • Easy to use
  • Comes with Numerous amount of features for free
Cons
  • Simple Invoice Template in Free Version

Ending Words

Thanks for paying attention to our article. So, If you are starting a business then this can help you a lot if your budget is somewhere a little bit tight. And, If you are thinking to play the online game of business. Here are some articles which can help you with that.

Thanks 🙂


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