Top 8 Inventory Management Software in India

Top Inventory Software in India Managing inventory effectively can often feel like walking a tightrope—balancing stock levels, meeting customer demands, and staying compliant with regulations. For businesses in India, these challenges are amplified by the complexity of GST, multi-location operations, and rapid market shifts. 

This is where this top inventory management software becomes a game-changer. The right solution not only simplifies your operations but also empowers your team with real-time insights, automation, and seamless integrations. 

But how do you choose the perfect software for your needs? Let’s explore the key considerations to make an informed decision.

Software	Starting Price	Trial Period	Free version
Refrens	₹7500/year	✔️	✔️
Zoho Inventory	₹12,999/year	✔️	✔️
TallyPrime	₹22,500/year	✔️	❌
Vyapar	₹3,239/year	❌	❌
Marg ERP	₹8,991/year	❌	❌
Vasy ERP	Custom	❌	❌
Odoo	Custom	–	✔️
Netsuite	Custom	–	–

Essential Features of Best Inventory Management Software in India

• GST-Ready Functionality: Enables hassle-free GST invoicing, e-way bill generation, and seamless tax return filing.
• Multi-Warehouse Management: Efficiently monitors inventory across multiple warehouses, outlets, and storage locations.
• Live Stock Monitoring: Tracks stock updates in real-time, ensuring accurate inventory data and reducing discrepancies.
• Reorder Automation: Automatically triggers purchase orders and alerts when stock levels dip below set thresholds.
• Barcode and QR Code Support: Simplifies stock handling with barcode scanning and batch/serial number tracking.
• Batch and Expiry Tracking: Manages perishable goods and ensures compliance with batch tracking and expiration date alerts.
• Integration with E-Commerce and POS: Connects inventory data with online marketplaces and point-of-sale systems for unified operations.
• Advanced Reporting and Analytics: Provides customizable reports and insights for stock trends, sales patterns, and demand forecasting.
• Mobile and Cloud Accessibility: Offers mobile apps and cloud-based solutions for inventory control anytime, anywhere.
• Accounting Integration: Syncs with financial systems to manage costs, taxes, and inventory valuations effortlessly.
• Multi-Currency and Regional Language Options: Supports diverse needs for global transactions and localized operations.
• Flexible and Scalable Plans: Adapts to the growth of businesses, catering to startups, SMEs, and large enterprises.

1. Refrens

Refrens is a top choice for invoicing and inventory management, trusted by over 150,000 businesses worldwide. This all-in-one platform streamlines invoicing automates stock updates, and tracks expenses efficiently, making it ideal for inventory invoicing needs.

With secure cloud storage, role-based access, and regular updates, Refrens ensures your data stays protected and up-to-date, offering businesses both reliability and peace of mind.

Key Features:

• Easy Stock Management: Add items individually or in bulk with Refrens. Automatically update stock levels for invoices, expenses, and orders to maintain accuracy.
• Robust Warehouse Management: Track and manage stock across multiple warehouses. Update inventory levels automatically for invoices or purchase documents and monitor location-wise stock.
• Batch-Wise Inventory Tracking: Organize and track inventory by batches. Ensure accurate stock movement and record-keeping during transactions with batch details.
• Serial Number Management: Assign and track unique serial numbers for items to maintain precise records across sales, purchases, and stock transfers.
• Barcode-Enabled Transactions: Streamline inventory processes with barcode scanning. Simplify product identification and speed up operations for accurate management.
• Order Management: Simplify sales and purchase order tracking, manage deliveries, and generate delivery challans to improve fulfillment and customer satisfaction.
• Detailed Profitability & Valuation Reports: Identify top-performing items with profitability reports. Generate real-time inventory valuation insights for informed decisions.
• Smart Low Stock Alerts: Get automatic alerts for low stock levels. Prevent stockouts and ensure timely replenishment with Refrens Inventory Management.
• Seamless Sales/Purchase Order Creation: Create sales orders, purchase orders, and invoices with customizable templates, including fonts, colors, and headers, effortlessly.
• Client & Vendor Management: Manage clients and vendors in one place. Access detailed reports on payments, transactions, and relationships to streamline operations.
• Integrated Bookkeeping & Accounting: Automate journal entries, vouchers, and ledgers. Generate key reports like balance sheets, profit & loss statements, and payment summaries.
• Auto-Update Inventory Based on Accounting Documents: Inventory automatically updates when invoices, expenses, or purchase orders are created. Ensure real-time accuracy without manual intervention.
• Expense Management: Record and track all business expenses in one place. Categorize and monitor costs to maintain control over cash flow.
• Multi-User Management: Manage your team with customizable roles and permissions. Give access based on tasks while ensuring data security.

Additional Features:

Refrens is an all-in-one platform that integrates expenditure management, accounting management, and sales CRM. Features like 1-click sharing, auto-suggest/auto-assist, and audit trails streamline operations. With cloud-based access and customer support.

Pricing:

• Basic: Free
• Accounts Lite: ₹7500/year
• Accounts GST: ₹12,500/year
• Accounts: ₹15,000/year

User Reviews:

2. Zoho Inventory

Zoho Inventory is a GST-compliant inventory management software tailored for Indian businesses. It simplifies order management, inventory tracking, and GST billing. With seamless warehouse oversight and barcode scanning support, it ensures operational efficiency. The software also offers robust integration options and real-time inventory insights.

Key Features:

• Item Grouping and Bundling: Create item categories based on attributes and offer bundled products at special prices to maximize sales.
• Multi-Warehouse Management: Track inventory across multiple locations and manage inter-warehouse transfers effortlessly.
• Serial and Batch Tracking: Monitor the movement of items and track expiry dates with unique identifiers for enhanced stock control.
• Sales Order Management: Convert sales orders into invoices, email them, and track their status, ensuring smooth order processing.
• Packaging and Shipping: Generate packing slips, print shipping labels, and get real-time shipping rates for secure and efficient delivery.
• Vendor Price Lists: Create customized pricing for vendors and automatically update prices to maintain strong vendor relationships.
• Inventory Analytics: Generate detailed reports on inventory valuation, stock aging, and sales to make informed business decisions.

Additional Features:

Zoho Inventory supports e-invoicing to comply with GST regulations and automates tax calculations for hassle-free billing. It includes tools like reorder point calculators, economic order quantity calculators, and packing slip generators to streamline inventory processes. The software facilitates integration with major shipping carriers to ensure smooth order fulfillment.

Pricing:

• Free Plan: Suitable for small businesses.
• Standard Plan: ₹12,999/year.
• Professional Plan: ₹26,999/year.
• Premium Plan: ₹45,999/year.
• Enterprise Plan: ₹89,999/year.

User Reviews:

3. TallyPrime

TallyPrime is a comprehensive business management software widely used in India, renowned for its robust inventory management capabilities. It offers a user-friendly interface that simplifies complex inventory tasks, making it suitable for businesses of all sizes. With TallyPrime, users can track stock levels, manage orders, and streamline operations to enhance overall productivity.

Key Features:

• Stock Categorization: Organize inventory by creating unlimited stock groups and categories, allowing for efficient tracking and management of diverse product lines. 
• Warehouse Management: Manage multiple godowns or storage locations, enabling real-time tracking of inventory across various sites and ensuring optimal stock distribution. 
• Batch and Expiry Date Tracking: Maintain inventory in batches with manufacturing and expiry dates, crucial for businesses dealing with perishable goods, to prevent stock wastage. 
• Reorder Level Management: Set reorder and minimum order levels to automatically generate reports indicating stock shortfalls, ensuring timely replenishment and preventing stockouts. 
• Multiple Stock Valuation Methods: Choose from various stock valuation methods such as FIFO, LIFO, and Average Cost, providing flexibility in financial reporting and compliance. 
• Job Work Management: Handle job work processes efficiently, whether as a principal manufacturer or job worker, by recording material issues, receipts, and consumption with comprehensive job work reports. 
• Comprehensive Inventory Reports: Access a variety of reports, including stock summaries, aging analysis, and item-wise profitability, to monitor stock movement and make informed decisions. 

Additional Features:

TallyPrime offers features like flexible units of measure, seamless integration with accounting functions, and support for GST compliance, making it a versatile tool for managing various aspects of business operations.

Pricing:

• Silver Edition: Single-user license priced at ₹22,500 + 18% GST.
• Gold Edition: Multi-user license priced at ₹67,500 + 18% GST.

User Reviews:

4. Vyapar

Vyapar is a comprehensive business management software tailored for small and medium-sized enterprises. It offers a user-friendly interface integrating billing, accounting, and inventory management functionalities. With Vyapar, businesses can efficiently handle their inventory, ensuring seamless operations and compliance with GST regulations.

Key Features:

• Godown/Store Management: Manage multiple godowns or stores across various locations, allowing centralized control over inventory and facilitating efficient stock transfers. 
• Stock Management: Monitor stock levels in real-time, set low-stock alerts, and establish reorder points to prevent stockouts and overstocking, ensuring optimal inventory levels. 
• Order Management: Streamline sales and purchase orders, track deliveries, and generate delivery challans, enhancing order fulfillment processes and customer satisfaction. 
• GST Compliance: Generate GST-compliant invoices and bills, maintain records of GSTINs, and facilitate seamless tax filing, ensuring adherence to Indian tax regulations. 
• Business Reports: Access various reports, including stock summaries, valuation reports, and aging reports, providing insights into inventory performance and aiding informed decision-making. 
• Personalized Communication: Send invoices, quotations, and other documents via WhatsApp and email, enhancing communication efficiency with customers and suppliers. 
• Multi-User Accessibility: Assign roles and permissions to multiple users, enabling collaborative management of inventory and other business operations.

Additional Features:

Vyapar integrates with various hardware like barcode scanners and printers supports data backup and security features, and offers customizable invoice templates, making it a versatile tool for comprehensive business management.

Pricing:

• Silver Plan: ₹3,239/year
• Gold Plan: ₹3599/year

User Reviews:

5. Vasy ERP

VasyERP is an advanced cloud-based ERP software built specifically for the retail sector, offering tools for POS, inventory tracking, CRM, and e-commerce management. It centralizes inventory management and streamlines processes across multiple outlets and franchises. VasyERP caters to both online and offline retail needs. It also integrates with payment gateways and logistics partners, ensuring seamless workflows for businesses of all sizes.

Key Features:

• Unified Inventory Control: Oversee stock across all branches and warehouses from a single platform, ensuring streamlined inventory management.
• Omnichannel Synchronization: Harmonize inventory data across online stores, physical outlets, and marketplaces for accurate tracking.
• Low Stock Alerts & Auto Reordering: Receive instant notifications for low stock levels and automate the replenishment process to avoid shortages.
• Branch-Wide Product Sync: Synchronize product details and inventory levels in real-time across multiple locations to eliminate discrepancies.
• Barcode & Label Creation: Simplify stock identification and improve organization with automatically generated barcodes and labels.
• Sales and Purchase Monitoring: Keep a detailed record of all transactions, providing insights into stock movement and helping maintain optimal inventory levels.
• Mobile App for Stock Audits: Use VasyERP’s mobile app to conduct efficient and accurate stock verification at any time.

Additional Features:

VasyERP offers features like loyalty programs, multi-payment method support, and advanced reporting tools. The software also enables online store integration, easy stock transfers between outlets, and comprehensive performance tracking with over 100 customizable reports. 

Pricing:

• Advanced Plan: Custom pricing tailored to mid-size businesses.
• Enterprise Plan: Quote-based pricing for large-scale retail operations.

6. Odoo 

Odoo Inventory is a cloud-powered solution that simplifies inventory management for businesses of all scales. It seamlessly integrates with other Odoo applications, offering tools to optimize stock levels, enhance warehouse workflows, and improve overall supply chain efficiency. 

Automated replenishment, advanced picking methods, and offline capabilities ensure smooth operations. Real-time insights and customizable features make it ideal for streamlining processes and boosting productivity.

Key Features: 

• Automated Stock Replenishment: Keep inventory levels balanced with automated restocking using strategies like min-max rules, make-to-order, or production schedules.
• Live Inventory Monitoring: Access up-to-the-minute details of stock movement, product locations, and warehouse activities across various facilities.
• Efficient Picking Methods: Implement single, batch, wave, or cluster-picking techniques to reduce labor and expedite order fulfillment.
• Integrated Barcode Scanning: Speed up operations with offline barcode and QR code scanning, ensuring seamless performance even in areas without Wi-Fi.
• Strategic Storage Solutions: Utilize advanced put-away methods like ABC analysis or cross-docking to minimize stock movement and optimize storage space.
• Full Inventory Traceability: Gain complete transparency with real-time tracking, detailed logs, and comprehensive reporting for every inventory activity.
• Flexible Inventory Valuation: Select valuation methods like FIFO, LIFO, Average Cost, or Standard Price to align with your accounting practices.

Additional Features:

Odoo Inventory integrates seamlessly with logistics services for shipping labels, supports multiple reservation strategies, and offers cycle counting to ensure accurate stock management without interrupting daily operations. It also enhances vendor communication with automated follow-ups and optimizes delivery routes to improve efficiency.

Pricing:

• Community Plan: Free, includes basic features and community support.
• Custom Solutions: Tailored pricing for businesses requiring advanced features and personalized configurations.

User Reviews:

7. Netsuite ERP

NetSuite ERP is a comprehensive cloud-based enterprise resource planning solution to streamline business operations. It offers integrated accounting, order management, inventory control, procurement, supply chain, and warehouse management modules. By unifying these functions, NetSuite provides real-time visibility and control over various business processes, enhancing efficiency and decision-making capabilities.

Key Features:

• Real-Time Inventory Tracking: Monitor inventory levels across multiple locations in real-time, ensuring accurate stock information and reducing the risk of stockouts or overstocking.
• Automated Replenishment: Set up automatic reorder points and preferred stock levels to streamline the procurement process and maintain optimal inventory levels.
• Lot and Serial Number Tracking: Track products by lot or serial numbers throughout the supply chain, enhancing traceability and compliance with industry regulations.
• Multi-Location Inventory Management: Manage inventory across various warehouses and retail locations, providing a consolidated view of stock availability and facilitating efficient distribution.
• Demand Planning and Forecasting: Utilize historical data and predictive analytics to forecast demand accurately, aiding in inventory planning and reducing carrying costs.
• Cycle Counting: Implement regular cycle counts to maintain inventory accuracy without the need for full physical inventories, minimizing operational disruptions.
• Integrated Order Management: Seamlessly connect inventory with order management to ensure timely fulfillment and accurate stock updates, improving customer satisfaction.

Additional Features:

NetSuite ERP also offers advanced procurement capabilities, supplier management, and comprehensive reporting tools. Its customizable dashboards provide insights into key performance indicators, and the platform supports scalability to accommodate business growth. Integration with other NetSuite modules, such as CRM and financial management, ensures a unified approach to business operations.

Pricing:

Custom pricing based on your business requirements.

User Reviews:

8. Marg ERP

Marg ERP is an inventory management solution designed to meet the needs of businesses of all sizes, including SMEs and large enterprises. It offers real-time tracking, warehouse management, and automated reordering features to streamline inventory operations. Marg ERP enables GST billing and return filing, providing a GST-ready solution for compliance. 

The software is designed to optimize stock-keeping, sales tracking, and purchase monitoring, helping businesses improve efficiency and reduce losses.

Key Features:

• Real-Time Inventory Tracking: Keep a detailed record of all saleable items, accessories, substitutes, and expiry dates with advanced search options and shortcuts.
• Warehouse Management: Manage stock across multiple warehouses and locations, tracking inventory movements and generating location-specific reports.
• Reorder Management: Automatically set reorder points using sales data and customer demand trends to ensure timely stock replenishment.
• Dispatch Management: Monitor shipments and deliveries in real-time, tracking every stage of the process with visual indicators to maintain on-time dispatches.
• Centralized Dashboard: Access a comprehensive view of order status, transactions, and key business metrics on a single screen to make informed decisions.
• Barcode Scanning: Streamline item tracking with barcode integration, allowing real-time updates for SKUs, serial numbers, and batch numbers.
• Integrated Banking Features: Manage banking operations directly within Marg ERP, including NEFT, RTGS, and auto-bank reconciliation with over 140 banks.

Additional Features:

Marg ERP also supports advanced billing, purchase order management, and MIS reporting with over 1,000 customizable report formats. The software enables seamless GST compliance with direct GST return filing and internal audit capabilities. Additionally, Marg ERP offers features like digital sales management, QR code-based order placement, and automated claim processing to simplify everyday operations.

Pricing:

• Basic Edition: ₹8,991/year 
• Silver Edition: ₹12,600/year
• Gold Edition: ₹25,200/year

User Reviews:

Key Considerations When Selecting Inventory Management Software

• Ease of Use and Customization: Choose software with a simple interface that your team can quickly adapt to. Ensure it allows customization to align with your unique business processes and inventory needs.
• Integration and Scalability: Ensure the software integrates seamlessly with your existing systems, such as accounting or e-commerce platforms. Opt for a scalable solution that can support your business as it grows.
• Real-Time Tracking and Automation: Look for software that provides live updates on stock levels and movements. Automation features like reordering and notifications save time and reduce manual effort.
• Reporting and Compliance: Advanced reporting tools and analytics help you make informed decisions. Ensure the software is GST-ready and compliant with local regulations to avoid legal challenges.
• Cloud Access and Security: Cloud-based solutions allow you to manage inventory from anywhere, while robust security features protect your sensitive business data.
• Cost and Support: Consider the pricing structure and ensure it fits your budget. Reliable customer support and training resources are essential for smooth implementation and long-term success.

Conclusion

Inventory management is no longer just about tracking stock, it’s about enabling smarter, faster, and more efficient decisions that drive growth. The right software acts as your strategic partner, automating processes, enhancing accuracy, and keeping you a step ahead of the competition.

By choosing a solution tailored to your business needs, you’re investing in a system that adapts with you and ensures you’re always prepared for what’s next. With the right tool in hand, the future of your business is as organized as your inventory.