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Best 12 Shopify Inventory Management Apps to Track Your Inventory [2023]

5 minutes

Inventory management is one of the most important tasks any successful Shopify store can focus on. Effective inventory management helps streamline operations so that orders are fulfilled on time, ensuring customer satisfaction.

But inventory management can become a considerable challenge when stores grow and become more popular. In addition to keeping track of items on the shelves and in the warehouse, shipping can become complex. Therefore, finding the right tools is a must.

There are plenty of great third-party inventory management platforms on the market. Unfortunately, they tend to be expensive and require complicated integration into Shopify. That problem goes away when using Shopify apps for inventory management.

In this article, we’ll talk about the best Shopify apps for inventory and how you can take advantage of their best features.

Why is Inventory Management Important on Shopify?

Inventory management is a core function of any successful Shopify store. Effective inventory management allows Shopify stores to set up successful processes and procedures. That is why Shopify inventory management is crucial for the following reasons:

Keeping Costs in Check

According to estimates, about 43% of American small businesses don’t keep track of their inventory or use a manual system. This concerning trend specifically impacts businesses’ cost structure. Companies that do not track their inventories effectively open the door to one thing: rising costs.

One of the keys to keeping costs in check is tracking inventory effectively and accurately. Knowing how much goes, goes out, and stays allows businesses to understand how they make money and how much they’re making. This approach gives businesses the room they need to grow and develop the strategies they need to ensure they can become profitable.

Maintaining an Efficient Operation

A study into the viability of RFID technology in inventory management revealed that the average inventory accuracy rate was 63%. While the implementation of modern tools has improved overall inventory management processes, it’s concerning to see such a low inventory accuracy level.

In particular, small businesses must ensure they keep accurate track of their inventory as close to 100% as possible. Doing so is critical since one of the most common issues is selling out-of-stock products. When that occurs, it negatively impacts costs and customer satisfaction. Consequently, maintaining an efficient operation through accurate stock takes is critical.

Improving Customer Satisfaction

More than a third of businesses have shipped items late that was not in stock, according to a 2017 study. This figure is particularly troubling since being unable to keep track of inventory accurately leads to costly mistakes. In particular, shipping items late involves impacting customer satisfaction. When customer satisfaction suffers due to mistakes, the likelihood of boosting customer loyalty goes down the drain.

Businesses must strive to run an efficient operation to ensure that mistakes such as selling out-of-stock items doesn’t happen. Fulfilling orders on time sends a clear message that the company is organized and ready to meet customer demands as they arise, ensuring customer satisfaction.

Reducing Stock-Outs and Overstocks

Stock-outs and overstocks can quickly derail a company’s profitability. That is, reducing stock-outs and overstocks helps boost cost savings by 10%. Additionally, reducing stock-outs helps keep sales going while reducing shipping delays.

Similarly, overstocked merchandise can become a serious issue for businesses. Overstocks force companies to slash inventory, increase liquidation campaigns, and break even on products at best. Therefore, using the best inventory management tools allows companies to track their inventories properly, enabling cost savings.

Increasing Profitability

According to 2019 data, American retailers held $1.39 of inventory for every $1 in sales. These data highlight a concerning trend regarding inventory overstock. Please bear in mind that inventory overstock leads to increased costs, negatively impacting overall profitability. That is why keeping accurate inventory helps greatly enhance a Shopify store’s overall profitability.

Businesses of all sizes must pay closer attention to their inventory management practices to ensure they’re keeping accurate track of their cost structure, leading to improved profitability. Nevertheless, the question remains, “how can businesses improve their inventory management processes?”

The answer to that question lies in the best Shopify apps for inventory management.

How to Find a Shopify App for Inventory?

Finding the best Shopify apps for inventory management is much simpler than most people believe.

First, visit the Shopify app store. The Shopify app store contains thousands of third-party apps to manage a vast array of Shopify store functions. For the purpose of this discussion, we’re going to focus on Shopify apps for inventory management.

Once at the Shopify app store, type “inventory management” in the search bar.

The search results display a healthy list of great Shopify apps for inventory management. You can now take the time to review the apps available. Please notice that most apps have a monthly subscription. While some offer a free option, the majority of apps require a subscription. The good news is that some apps are completely free to use. So, it’s worth considering free options, especially if you’re on a shoestring budget.

What to Look for in the Best Shopify Apps for Inventory?

There are five key elements to look for in the best Shopify apps for inventory management.

Price: Most Shopify apps have a monthly subscription cost. The monthly subscription cost varies from app to app.

Free trial: Many apps offer a free trial. Checking out the free trial gives you an opportunity to test out the app’s functionalities before committing to it.

Number of reviews: Shopify encourages users to leave reviews. These reviews reflect how well the app works and what issues there may be with it.

Rating: With user reviews come ratings. Individual ratings allow users to get a glimpse of how well the apps have worked for most users.

Support: User support is a crucial component of the best inventory apps for Shopify. Getting support when you need it most is highly important.

12 Shopify Inventory Apps

App Name	PRICe	Free Trial	Number of Reviews	rating	Support
Atom Inventory Management	$9.99/month	Free plan available	2	5.0	Email
Horse Inventory Management	$20/month	14 days	4	5.0	Email
Inventory Management & Bundles	$24/month	30 days	33	4.8	Email, phone
Katana Manufacturing ERP	$129/month	14 days	143	4.9	Email
Low Stock Alert & Forecasting	$4.99/month	14 days	85	5.0	Email
MBC Bundles	$9/month	7 days	181	4.9	Email
Multi Source Inventory	$100/month	14 days	5	4.7	Email
Multi-Label Barcodes	$9.99/month	5 days	81	4.7	Email
PULPO WMS Warehouse Management	$50/month	30 days	6	5.0	Email
Reports: Inventory & ales	$39/month	7 days	137	4.9	Email
STTM: Dropshipping & Sourcing	Free	N/A	22	5.0	Email
Thrive by Shopventory	$99/month	30 days	83	4.7	Email

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#1: Atom Inventory Management

Atom Inventory Management by atomdot is a Shopify inventory tracking app you must check out. This great app helps reduce overstock while ensuring stock levels remain at optimal levels. Automate your inventory management processes so staff can focus on monitoring and repurchasing items as needed. Use a Kanban board to track inventory movement to determine where the bulk of your products lie. Increase profitability by using this killer inventory management app for Shopify.