Top 10 AI Tools for Inventory Management

Today people are using AI tools at a very high scale. One such purpose in which AI tools are in huge use is for Inventory Management. AI tools for Inventory Management have brought a drastic change in businesses by helping them just like human managers. These tools help in handling stocks, machine learning algorithms, and data-driven approaches which all help to fasten inventory management.

The AI tools for Inventory Management help demand forecasting, real-time tracking, inventory optimization, automated replenishment, precision and accuracy, engagement, and much more.

Since AI tools for Inventory Management can be of huge use, it is essential for the company to have knowledge about the best ones for their growth and benefits. So, the following are the best 10 AI tools for Inventory Management:

Infor Warehouse Management System (WMS)

Infor WMS is one of the best AI tools for Inventory Management which is best for warehouse operations and its advanced features for inventory management, labor management, visualization in 3D, etc. Due to its wide ranging features it is suitable to all the sectors of industries.

Features:

• It offers an intuitive wave management system for optimized Omni channel operations.
• It has flexible allocation options available like dynamic, hard etc.
• The 3D visual analysis allows enhanced visibility and also streamlining inventory management.

Pros:

• It has many Advanced features available.
• It supports B2B and D2C from a single facility.

Cons:

• It has a high learning curve.
• The pricing is not available, it is custom.

Pricing:

• It offers custom pricing plans only.

Link: https://www.infor.com/solutions/scm/warehousing/warehouse-management-system

Atera

Atera is an AI tool for Inventory Management that is best for being a SAAS management platform which is designed mainly for complete solution of operations of IT professionals and teams as well. This application has a huge multiple functions.

Features:

• It offers remote monitoring and management which enables proactive IT issue resolution.
• It has many professional services for automation of streamlined operations.
• It allows remote access to networks as well as other devices for easy management.

Pros:

• It has a policy based secure automation process.
• It allows integrations with third parties that engage more audiences.

Cons:

• It requires full functionality applet download.
• The pricing plans are a bit expensive.

Pricing

• $99 per month (Pro plan)
• $129 per month (Growth plan)
• $169 per month (Power plan)
• Custom pricing in Superpower plan.

Link: https://www.atera.com/

RentMan Software

Another AI tool for Inventory Management is RentMan Software which is best for delivering unforgettable events and media productions. This tool is a cloud based platform which has a huge number of features for managing resources, tracking, inventory management and much more.

Features:

• The AI Inventory Management is useful for managing the Warehouse and inventory with least stress.
• It has a quick availability lookup feature which helps the users a lot by reducing their burden.
• It makes an efficient and effective management and scheduling system.

Pros:

• It uses QR codes and barcodes too for labels and equipment tracking.
• It can create estimates, proposals, and customer billing in a second.

Cons:

• The CRM feature lacks and needs improvement as well.
• It is only available through browsers.

Pricing:

• €53 per month per user (Standard)
• €58 per month per user (Pro)
• Custom pricing for Enterprises.

Link: https://rentman.io/

QuickBooks Commerce

QuickBooks Commerce is one of the best AI tools for Inventory Management which is mainly popular among people for serving as a central hub to manage inventory, orders, customers, etc. This is best for e-commerce sites and businesses.

Features:

• This can smoothly integrate with the e-commerce platforms and online Businesses.
• It can easily manage inventory in multiple currencies and across multiple warehouses too.
• It offers centralized management of orders, inventory, and customers across various channels.

Pros:

• It allows real time tracking of orders.
• It is capable of managing multiple warehouses at once.

Cons:

• It has a complex interface.
• The customer care service is slow.

Pricing:

• $30 per month (Simple)
• $60 per month (Essentials)
• $90 per month (Plus)
• $200 per month (Advanced)

Link: https://quickbooks.intuit.com/quickbooks-commerce/

Fishbowl

Fishbowl is an AI tool for Inventory Management which is best to get ahead with other professionals out there.It joins others in your industry and company to get helpful advice from colleagues and co-workers.

Features:

• It is designed for people in warehouses, manufacturing, distribution, mainly for small or mid sized businesses.
• It has comprehensive AI tools which helps to automate and enhance the company.
• It offers seamless integration with QuickBook which helps in financial management.

Pros:

• It provides Robust Inventory Management functions.
• It is easy to use.

Cons:

• It provides limited customization options.
• It doesn’t support FIFO and LIFO.

Pricing:

• Fishbowl Warehouse
  • 2-5 users: $4,395.00–$8,095.00
  • 6-10 users: $9,595.00–$13,995.00
  • 11-15 users: $15,095.00–$18,995.00
  • 20 users: $23,495.00
  • 25+ users: $1,280.51/user
• Fishbowl Manufacturing
  • 2-5 users: $6,495.00–$11,795.00
  • 6-10 users: $13,895.00–$20,195.00
  • 11-15 users: $21,885.00–$26,395.00
  • 20 users: $31,495.00
  • 25+ users: $1,411.80/user

Link: https://www.fishbowlapp.com/

Zoho Inventory

Zoho Inventory is one of the best AI tools for Inventory Management which is designed mainly for Indian businesses and also allows to increase sales, real time tracking, stock management, order fulfillment, etc. This has its main aim to streamline operations and enhance efficiency for businesses.

Features:

• It has a comprehensive range of features which makes it worth it to use.
• This platform allows easy syncing of accounts in various devices.
• It is also available as a Mobile app which helps to see and manage work from anywhere.

Pros:

• The automation features reduce manual work.
• It has a centralized inventory management system.

Cons:

• Additional cost for Zoho books is charged.
• It has a steep learning curve.

Pricing:

• $29 per month (Standard)
• $79 per month (Professional)
• $249 per month (Essential)

Link: https://www.zoho.com/in/inventory/

Freshworks

Another AI tool for Inventory Management is Freshworks which is cloud based easy to use software with new AI superpowers which helps to manage and improve the inventory management system, Customer service, IT and CRM software. It helps to reduce the stress of inventory managers.

Features:

• It not only helps to manage inventory systems but also allows to track IT and non-IT assets as well.
• It helps to make informed decisions about assets, utilization, governance etc.
• It offers a complete IT service management solution which integrates seamlessly.

Pros:

• It allows real time collaborations and tracking.
• It has powerful Chatbots that support end users.

Cons:

• Integration process is complex.
• It offers many features which makes it confusing sometimes.

Pricing:

• $35 per month (Growth)
• $83 per month (Pro)
• $131 per month (Enterprise)

Link: https://www.freshworks.com/

Cin7

Cin7 is one of the best AI tools for Inventory Management which helps to manage inventory, sell products and connect with customers. This platform is a fully AI integrated software that is designed to streamline the stock management process across the multiple channels. It serves as a complete solution for managing businesses.

Features:

• This tool is suitable for retailers, wholesalers, online stores, financial managers, etc.
• It offers seamless integrations with popular e-commerce platforms.
• It has an accurate tracking of stock levels and real time inventory visibility as well.

Pros:

• It has an intuitive and easy to use interface.
• It has a wide range of features available.

Cons:

• Users face problems with integrations.
• It has a slow and unresponsive customer care support.

Pricing:

• $349 per month (Standard)
• $599 per month (Pro)
• $999 per month (Advanced)
• Omni plan has Custom pricing.

Link: https://cin7.com/

NetSuite

NetSuite is another best AI tool for Inventory Management which is number 1 Cloud Enterprise Resource Planning (ERP). This is mainly designed to streamline and automate processes, real time invoice and inventory management as well. It has a rich functionality and built-in flexible features available for the users.

Features:

• It helps to raise the expectations of customers and clients.
• It helps to free up cash and reduce handling costs as well.
• It has a huge number of customization options available for the variety of functions that it provides.

Pros:

• It has an excellent search feature.
• It is a powerful ERP with flexibility and convenience.

Cons:

• Subscription plan’s cost changes over time.
• Customization options are mostly paid.

Pricing:

• It has custom pricing plans.

Link: https://www.netsuite.com/portal/in/home.shtml

DEAR Inventory

DEAR Inventory, which is one of the best AI tools for Inventory Management, offers every single thing which can help the users to operate their business by using just a single system. It also has advanced automation and integration features available.

Features:

• It offers many features and functions that cater to various sectors, retail, manufacturing, distribution and so on.
• It is best for small and mid sized businesses.
• It has popular third-party integration options available like Stripe, Shopify, PayPal, etc.

Pros:

• It offers a quick customer care service.
• It updates its app frequently.

Cons:

• It has a steep learning curve.
• Users face minor bugs.

Pricing:

• $349 per month (Standard)
• $599 per month (Pro)
• $999 per month (Advanced)

Link: https://dearsystems.com/

Each and every discussed AI tool for Inventory Management has its own unique features which is the reason these are most used and popular among the audience. Since these all have different multiple features, sometimes it can be difficult to choose from which one to use in accordance with the business so there cannot be any one which can be considered as best.

These AI tools for Inventory Management should be used to enhance the appearance, engagement of the audience and management of the businesses and enterprises as these benefit the overall performance of the company.

How can AI be used in Inventory Management?

AI offers many features like machine learning algorithms, analysis etc. which helps in Inventory Management.

What are tools that can be used for inventory management?

Some best AI tools for Inventory Management are Zoho Inventory, Cin7, DEAR Inventory, Fishbowl, etc.

What are the most used AI tools?

Some of the most used and appreciated AI tools are LLMs and Midjourney.

How Amazon uses AI for Inventory Management?

Amazon uses AI tools for Inventory Management for features like Analytics, learning algorithms, personalized recommendations, fraud detection, etc.