Singapore’s business environment is extremely competitive, requiring businesses to streamline their operations. In today’s fast-paced industry, inventory management can be difficult and costly. This post will look at inventory management software and explain why it is important for firms in Singapore.
As Singapore’s business environment gets increasingly competitive, effective inventory management becomes critical. The IMDA and the Personal Data Protection Commission’s Better Data Driven Business (BDDB) program assist SMEs in improving data management, optimizing operations, and lowering costs.
This article discusses the fundamentals of inventory management software, including its critical role in increasing efficiency and accuracy. It also reviews a comprehensive inventory management software list to assist you in choosing the best solution, making it a must-read for business owners trying to improve their operations.
Key Takeaways- Inventory management software refers to automating product tracking, reorders, and providing real-time insights for better decision-making.
- Main functions of inventory software include tracking inventory, managing orders, automating tasks, providing insights, and integrating with business operations.
- Choose the right software by evaluating business needs, scalability, ease of use, system integration, and local support for long-term growth.
- The top 13 inventory management software in Singapore include ScaleOcean, Fishbowl, Zoho Inventory, Cin7, and Sortly, catering to diverse business needs.
What is Inventory Management Software?
Inventory management software is a centralized digital application that tracks products along the supply chain. This solution replaces error-prone spreadsheets, automates stock monitoring, and manages reorders, resulting in a unified inventory view for real-time decision making.
It not only counts inventory but also prevents costly issues such as stockouts and overstocking. This technology provides a strategic advantage to firms dealing with physical products in today’s competitive markets by ensuring accuracy and efficiency.
Main Functions of Inventory Management Software
Inventory management software is critical for optimizing operations and maintaining a steady supply chain. Businesses that understand their essential tasks can optimize stock levels, manage inventory more efficiently, and improve overall operations. Let’s look at its key functions.
- Tracks Inventory: Monitors stock levels in real time across many locations, delivering particular information such as SKUs, descriptions, and amounts. This gives you a precise picture of inventory status, removing any guesswork.
- Manages Orders: Automates the full order lifecycle, from purchase to sales orders, and changes inventories as goods are received or sent. This guarantees that orders are processed quickly and accurately.
- Automates Tasks: integrating with barcode scanners, reducing human entry errors, and increasing productivity during stock management, order picking, and packaging. Automation accelerates operations and reduces human error.
- Provides Insights: Generates insights on sales trends, stock turnover, and profitability, allowing you to make data-driven decisions. This function provides vital insights into strategic inventory management and planning.
- Integrates: Syncs with a variety of business systems such as e-commerce platforms, point-of-sale (POS), and accounting software, allowing for seamless data exchange throughout your operations, increasing overall efficiency and accuracy.
13 Best Inventory Management Software in Singapore (2025)
Navigating the inventory management software Singapore market can be difficult, with so many solutions geared to different business sizes and industries. This list of Singapore’s top candidates will assist you in finding the best fit for your operating needs.
1. ScaleOcean’s Inventory Management Software
ScaleOcean provides an integrated system for Singaporean enterprises that combines inventory management, sales, purchasing, and accounting. It’s sturdy enough for both small and large businesses, optimizing warehouse space and enhancing production through automation.
Trying ScaleOcean now allows you to use its strong capabilities while benefiting from the CTC grant, making this smart technology cheaper. This is an excellent opportunity to streamline procedures and increase productivity.
Key Features:
- Real-Time Inventory Tracking: Provides real-time visibility into stock levels, preventing shortages or overstocking.
- Automated Stock Adjustments: Automatically updates stock levels and sends low inventory alerts.
- Multi-Location Management: Manages inventory across multiple locations, ensuring accurate stock availability.
- Optimized Warehouse Operations: Ensures efficient stock rotation with FIFO and FEFO systems, reducing waste.
- Seamless Integration: Integrates inventory management with other modules for smoother operations.
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2. Fishbowl
Fishbowl is a popular inventory management application for QuickBooks users, including features such as bills of materials, work order management, and multi-location monitoring. Its primary advantage is its tight connection with QuickBooks, which makes it excellent for manufacturing-focused firms with complicated operations.
Key Features:
- Integration with QuickBooks for seamless financial tracking
- Bills of materials and work order management
- Multi-location tracking for detailed inventory control
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3. Zoho Inventory
Zoho Inventory is an excellent solution for small enterprises and startups, particularly if you currently use other Zoho applications. It has an easy-to-use interface, important functionality like order and warehouse management, and interfaces smoothly with e-commerce platforms such as Shopify, Amazon, and Etsy.
Key Features:
- Easy-to-use interface with comprehensive order and warehouse management
- Integration with e-commerce platforms like Shopify, Amazon, and Etsy
- Real-time tracking and reporting for small businesses
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4. Cin7
Cin7 is a connected inventory management solution designed for organizations that sell through several channels, including online and in-store. Its functions, such as POS and warehouse management, maintain synchronized stock levels. Its automation and interfaces with third-party programs enable scalability. However, its pricing may be expensive.
Key Features:
- Multi-channel sales and inventory synchronization (online and in-store)
- Automation of stock management and order routing
- Integration with third-party programs for scalability
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5. Sortly Inventory Management Program
Sortly is a graphically appealing, user-friendly inventory management program ideal for small enterprises and non-profits. It provides simple asset tracking using photographs, QR codes, and barcodes. While it is useful for basic tracking, it lacks advanced functionality such as purchase order administration and detailed sales analytics.
Key Features:
- Visual asset tracking using images, QR codes, and barcodes
- Simple and intuitive user interface
- Ideal for small enterprises and non-profits
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6. InFlow Inventory
InFlow Inventory is a versatile inventory management platform designed for small and medium-sized organizations. It provides both cloud and on-premise versions, covering purchasing, sales, and reporting, with a user-friendly interface, mobile app, and robust barcoding capabilities.
Key Features:
- Flexible cloud and on-premise deployment options
- Mobile app support and robust barcoding capabilities
- Easy-to-use purchasing, sales, and reporting functions
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7. Katana
Katana is inventory management software for small to medium-sized firms that combines inventory control and production planning. It connects effectively with platforms like as Shopify and Xero, making it suitable for direct-to-consumer firms who want to streamline their make-to-order and make-to-stock operations.
Key Features:
- Inventory control integrated with production planning
- Seamless integration with platforms like Shopify and Xero
- Ideal for direct-to-consumer and make-to-order businesses
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8. Oracle NetSuite Inventory Management Tools
Oracle NetSuite is a sophisticated ERP system with advanced features like demand planning and multi-location fulfillment. As an integrated inventory management software, it’s ideal for large enterprises but may be too costly, complex, and time-consuming for small to medium-sized businesses.
Key Features:
- Advanced inventory tools for demand planning and multi-location fulfillment
- High scalability for large, complex enterprises
- Integrated with broader ERP features for comprehensive management
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9. Extensiv’s Inventory Management
Extensiv (previously 3PL Central) provides a robust suite for e-commerce fulfillment and warehouse management. Its Order Management technology, designed for multi-channel sellers, automates complicated activities such as order routing and inventory allocation, making it suitable for high-volume enterprises looking to scale quickly.
Key Features:
- Multi-channel order management with automated routing and allocation
- E-commerce fulfillment and warehouse management
- Designed for high-volume businesses scaling quickly
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10. Odoo
Odoo is an open-source, modular business management suite that includes a strong inventory application. It provides flexibility, scalability, and advanced capabilities such as routing, cross-docking, and drop-shipping to ensure traceability from supplier to customer. Customizable, but requires technical expertise.
Key Features:
- Open-source and modular for flexible customization
- Advanced features like cross-docking, drop-shipping, and routing
- Traceability from supplier to customer, ensuring smooth operations
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11. Finale Cloud-Based Inventory System
Finale Inventory is a cloud-based system designed to help growing e-commerce enterprises manage inventory across different channels and warehouses. It excels in handling large transaction volumes, preventing stockouts, and providing accurate stock counts, making it a reliable choice for multi-channel shops.
Key Features:
- Cloud-based platform with multi-channel inventory management
- Handles high transaction volumes with accurate stock counts
- Prevents stockouts and streamlines inventory across different channels
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12. ERPAG
ERPAG is a cloud-based ERP solution for small and medium-sized businesses, with a focus on manufacturing and inventory control. It provides a comprehensive set of features, from sales to accounting, as well as strong manufacturing modules, competitive pricing, and effective inventory management capabilities.
Key Features:
- Comprehensive ERP solution for small and medium-sized businesses
- Strong manufacturing and inventory control modules
- Competitive pricing with efficient inventory management capabilities
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13. ShipBob Inventory Management System
ShipBob is a tech-enabled 3PL that provides proprietary software to e-commerce enterprises. Its inventory management system software covers warehousing, picking, packing, and shipping, offering complete visibility and control over inventory. Ideal for direct-to-consumer firms.
Key Features:
- Full visibility and control over inventory in fulfillment centers
- Outsourcing of warehousing, picking, packing, and shipping
- Ideal for D2C businesses looking to focus on marketing while outsourcing fulfillment
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Also Read: 11 Types of Inventory All Singapore Businesses Need to Know
Why is IMS Crucial for Businesses in Singapore?
In Singapore’s competitive market, handling physical products is critical. Businesses encounter operational issues when commercial rents rise and the labor market tightens. A strong inventory management software (IMS) is required for survival and growth in this climate.
An effective IMS enables firms to optimize space, boost productivity, and remain nimble, transforming obstacles into strengths. Adopting this method is a smart step for retail and e-commerce enterprises that increases productivity and promotes business growth.
1. Overcome High Rental Costs with Space Optimization
Singapore has among the highest commercial and industrial rental rates in the world, making warehouse space incredibly desirable. Holding onto extra or slow-moving merchandise means paying for space that does not generate income, which reduces profit margins over time.
A successful inventory management system gives statistics on inventory turnover and sales velocity, enabling more informed purchase decisions. This optimizes warehouse space, lowers storage costs, and frees up cash tied to sluggish stock, making it a viable solution.
2. Increase Efficiency to Combat a Tight Labour Market
Singapore’s tight labor market makes it difficult and expensive to retain competent warehouse workers. Manual processes such as stock counting are time-consuming. According to MOM, Industry 4.0 adoption will redefine work positions over the next 3-5 years, necessitating skill upgrades and technological adaptation.
Businesses use inventory management software to automate operations such as barcode scanning, automated reordering, and integrated order processing. This improves efficiency, lowers costly human errors, and enables organizations to manage more orders without hiring additional workers, enhancing resilience.
3. Achieve Real-Time Accuracy for E-commerce and Retail
With the rise of e-commerce and omnichannel retail, customer expectations for real-time information and quick delivery have increased. Failure to maintain stock levels updated across platforms can result in lost sales and damage to your brand’s reputation.
An integrated inventory system syncs stock levels in real time across all sales channels. This eliminates the danger of overselling, ensures correct inventory updates, and fosters customer trust in Singapore’s competitive e-commerce sector.
4. Improve Cash Flow by Preventing Overstocking
Cash flow is critical for any organization, and overstocking may quickly drain it by tying up resources in unsold products. This not only increases storage expenses, but it also locks up funds that could be better spent on marketing, hiring, or product development, particularly for SMEs.
Using inventory management software with forecasting and reporting capabilities facilitates accurate purchase decisions. It analyzes previous sales data to estimate demand, reducing overstocking and boosting cash flow, giving your company the financial freedom to expand.
5. Make Data-Driven Decisions with Advanced Reporting
In today’s corporate world, making judgments based on gut feelings or inadequate knowledge might result in failure. To remain competitive, clear insights about your company’s performance, particularly inventory, are required. It is impossible to analyze data accurately without the proper system.
Good inventory management software includes robust reporting and analytics tools that transform raw data into actionable insights. It enables businesses to track best-sellers, profitable items, inventory movement, and seasonal trends, allowing them to make data-driven decisions that increase profitability.
Key Features to Look For in the Best Inventory Management Software
When choosing the best inventory management software, you must evaluate features that will not only fulfill your current demands but also assist your company’s long-term growth. A solid system will help to speed operations, enhance accuracy, and enable scalability. Here’s a rundown of the main features to look for:
- Real-Time Inventory Tracking: Real-time inventory tracking provides precise and up-to-date data across many locations, reducing guesswork and improving decision-making.
- Barcoding & Scanning: Integrates with barcode or QR code scanning technology to decrease human data input errors and expedite warehouse processes such as receiving, picking, and shipping.
- Order Management: Order management effectively manages buy and sales orders by automating operations, maintaining inventory levels, and assuring efficient processing.
- Multi-Warehouse Management: Businesses can manage inventory across different warehouses or locations, providing greater flexibility and control over supply and delivery.
- Reporting and Analytics: Provides meaningful insights into sales patterns, stock turnover, and profitability, enabling organizations to make data-driven inventory optimization decisions.
- Integration Capabilities: Syncing with company systems like e-commerce, accounting software, and shipping carriers to improve accuracy and efficiency across all channels.
How to Choose the Right Inventory Management Software
Choosing the correct inventory management software is critical for Singapore firms, as it affects long-term productivity and profitability. With many options available, selecting the top inventory management software is essential to avoid overpaying for unnecessary complexity or underestimating your requirements.
To make the optimal decision, begin by evaluating your current operations, difficulties, workflows, and future objectives. Understanding this is essential for selecting an inventory management system that is compatible with your expansion. This guide will help you pick the proper software for your Singapore-based business.
1. Assess Your Specific Business Needs
Before looking into software demos, evaluate your inventory management challenges. Identify specific requirements, such as multi-channel synchronization for e-commerce or raw material tracking in manufacturing. Create a list of pain issues and potential solutions to help guide your software search.
Involve important departments such as the warehouse, sales, and finance to get a full view. This helps to establish explicit criteria for assessing software options, ensuring that you prioritize solutions that address essential operational gaps above extraneous features.
2. Consider Scalability for Future Growth
When selecting inventory management software, think about your long-term business objectives. Look for a system that can grow with you, whether you intend to enter new sales channels, add more locations, or broaden your product offering.
Choose software that includes pricing levels or modular add-ons to meet future needs. Ensure that the system can handle growing order quantities and SKUs, and review vendor track records to avoid costly migrations later on as your firm grows.
3. Prioritize Ease of Use and Team Training
A powerful inventory management software is pointless if it is too complex for your staff to utilize regularly. The interface should be straightforward to use, as this directly influences adoption and lowers errors, accelerating your return on investment.
During evaluation, request a free trial or demo so that actual users can try it. Ensure that the vendor provides adequate training and support materials. A user-friendly system with reliable assistance ensures a smoother installation and greater long-term outcomes.
4. Evaluate Integration with Your Existing Systems
Your inventory management software must interact with other systems such as your e-commerce platform, accounting software, and shipping carriers. Seamless integration promotes an efficient, automated workflow by eliminating manual data entry between systems.
Before deciding on software, make a list of your existing systems and confirm that the platform provides solid pre-built connectors. If direct integration is not possible, look for an open API that allows for custom connections, resulting in a single source of truth for your company data.
5. Check for Local Support and Compliance
Local or regional support is extremely beneficial to Singaporean firms. Being able to access support during business hours, rather than waiting for a staff member in another time zone, can significantly minimize downtime and increase efficiency.
It is also critical that the inventory management software comply with local legislation, such as GST. A vendor with a strong local presence understands the market better and can provide relevant assistance, making compliance and reporting much easier.
Conclusion
Moving beyond old manual processes is required to navigate the inventory management business in Singapore. Adopting specialized software is critical for lowering operational expenses and satisfying modern consumer demands by providing real-time data for more informed decision-making.
Choosing the correct system entails examining your requirements and future objectives. Whether you’re a small startup or a major manufacturing company, ScaleOcean’s inventory management software may help you streamline your processes, increase productivity, and provide the groundwork for future growth.
FAQ:
1. What is the best software for inventory management?
The best inventory management software depends on your specific business requirements. Well-known options include ScaleOcean, Fishbowl, Oracle NetSuite, and TradeGecko. ScaleOcean, however, stands out with its robust ERP integration, limitless user support, and tailored solutions for various industries.
2. What are the 4 types of inventory management?
There are four primary inventory management methods:
1. Just-in-Time (JIT): Reduces inventory by ordering products only when needed.
2. FIFO (First In, First Out): Prioritizes selling older items to minimize waste.
3. LIFO (Last In, First Out): Focuses on selling the newest stock first.
4. Par Stock: Maintains a set inventory level to guarantee availability.
3. Can I use Excel for inventory management?
While Excel can be used for basic inventory management, it has limitations. It allows manual tracking but lacks features like automation, real-time updates, and advanced analytics. For better efficiency and scalability, especially for growing businesses, specialized software is recommended.
4. Is Zoho inventory really free?
Zoho Inventory provides a free plan for small businesses, supporting up to 20 orders per month and 1 warehouse. However, to unlock advanced features such as multi-warehouse management, a paid plan is required. In contrast, ScaleOcean offers a more robust, scalable solution with seamless ERP integration.
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