Top 7 Inventory Management Software in Malaysia

Managing inventory effectively is a cornerstone of any successful business, especially in a competitive market like Malaysia. With the rise of e-commerce, multi-location operations, and evolving consumer expectations, having the right inventory management software is no longer a luxury—it’s a necessity. 

From real-time tracking to seamless integrations with e-commerce platforms, these tools ensure businesses can optimize stock levels, reduce waste, and boost profitability. 

In this guide, we explore the best inventory software available in Malaysia, highlighting its key features, pricing, and unique advantages tailored to diverse industries and business sizes.

Software	Starting Price	Trial Period	Free version
Refrens	RM50/month	✔️	✔️
Million	RM124/year	❌	❌
Quickbooks	RM68/month	✔️	❌
Xero	$14.50/month	✔️	❌
HashMicro	Custom	–	–
HDPOS	Custom	–	–
NetSuite	Custom	–	–

Essential Features to Consider When Choosing Inventory Management Software for Your Business in Malaysia

• Real-Time Inventory Tracking: Monitor stock levels in real-time to avoid stockouts or overstocking and maintain optimal inventory levels.
• Multi-Location Management: Manage inventory across multiple warehouses or retail locations seamlessly from a unified platform.
• Automated Reordering: Get low-stock alerts and automate purchase orders to ensure timely replenishment and prevent missed sales.
• Batch and Serial Number Tracking: Track inventory with batch or serial numbers for better traceability and compliance with industry regulations.
• Integration with Local Tax Systems: Ensure the software supports GST/SST compliance and generates tax-compliant invoices and reports.
• E-Commerce and POS Integration: Seamlessly connect with platforms like Lazada, Shopee, or Shopify and integrate with POS systems for omnichannel inventory management.
• Reporting and Analytics: Generate detailed reports on stock movement, sales trends, and profitability to make data-driven decisions.
• Mobile and Cloud Access: Use mobile-friendly, cloud-based software for real-time updates and remote access to inventory data.
• Customizable Features: Tailor inventory fields, such as categories or attributes, to match your business needs, like size, color, or type.

1. Refrens

Manage inventory, SST invoicing, and finances effortlessly with Refrens, trusted by 150,000+ businesses in 170+ countries worldwide. Automate stock updates, track expenses, and stay SST-compliant with customizable invoices, purchase orders, and real-time reports. Access everything from any device while enjoying secure cloud storage and role-based controls. Streamline inventory processes with reliable automation and regular updates. 

Key Features:

• Simplified Stock Control: Quickly add items in bulk or individually while ensuring real-time updates for invoices, orders, and expenses, keeping your stock records accurate and up-to-date.
• Real-Time Inventory Updates: Maintain accurate stock levels as inventory adjusts automatically with every invoice, order, or expense entry.
• Smart Warehouse Management: Oversee inventory across multiple warehouses, with location-wise stock tracking and automated updates linked to invoices and purchase records.
• Batch Tracking Precision: Manage inventory by batches to streamline stock movement and maintain accurate transaction records effortlessly.
• Serial Number Tracking: Assign unique serial numbers to products, enabling precise tracking throughout sales, purchases, and transfers.
• Barcode Transactions: Use barcode scanning to improve efficiency, simplify product identification, and enhance overall inventory operations.
• Order Fulfillment Made Easy: Efficiently manage sales and purchase orders, monitor deliveries, and create delivery challans for smooth and timely order execution.
• In-Depth Profitability Analysis: Leverage real-time reports to evaluate inventory valuation and profitability, enabling smarter decision-making.
• Low Stock Alerts: Avoid stockouts with automatic low-stock notifications, ensuring timely replenishments and smooth operations.
• Customizable Document Creation: Design professional SST-compliant invoices, sales orders, and purchase orders with personalized templates, including adjustable fonts, headers, and colors.
• Efficient Client & Vendor Management: Consolidate and manage client and vendor information in one place, with detailed transaction and payment history reports.
• Seamless Accounting Integration: Automate journal entries, ledgers, and voucher creation while generating essential financial reports like balance sheets, P&L statements, SST reports, and more.
• Streamlined Expense Tracking: Record all expenses in one place with categorized tracking to better monitor and control cash flow.
• Role-Based Team Management: Assign specific roles and permissions to team members, ensuring secure and efficient access to business data.

Additional Features:

Refrens simplifies business management by integrating inventory, accounting, and sales CRM into one platform. Features like 1-click sharing, automated suggestions, audit trails, and secure cloud storage make managing operations seamless. Round-the-clock support ensures your business stays on track.

Pricing:

• Basic Plan: RM 0/year
• Boutique Plan: RM 600/year 
• Multi-Store Plan: RM 1,040/year 
• Enterprise Plan: RM 1,600/year

User Reviews:

2. Million 

Million Stock Control Software is a robust inventory management solution designed for businesses of all sizes. It simplifies stock control with features like multi-location inventory tracking, real-time updates, and seamless integration with accounting systems. Tailored to meet the diverse needs of businesses, it ensures accurate stock levels, reduces inefficiencies, and supports streamlined operations. 

Key Features:

• Multi-Location Inventory Management
  Easily track and manage inventory across multiple locations, making it ideal for businesses with multiple warehouses or branches.
• Real-Time Stock Updates
  Keep inventory data accurate with automatic real-time updates as sales and purchases occur.
• Multi-Company Transaction Handling
  Manage transactions across multiple entities with ease, simplifying operations for complex business structures.
• Serial Number Tracking
  Monitor individual items with serial numbers for better tracking and control over stock movements.
• Customizable Pricing for Customers and Suppliers
  Set unique pricing and discounts for different customers and suppliers to meet specific business requirements.
• Integrated Accounting
  Sync seamlessly with Million Accounting software to ensure accurate financial tracking and reporting.
• Streamlined Order Management
  Simplify order processing to reduce errors, speed up deliveries, and improve customer satisfaction.

Additional Features:

The software offers advanced reporting, automated alerts for low stock levels, and detailed stock analysis. It also integrates with POS systems, enabling smooth sales tracking and comprehensive inventory control in one platform.

Pricing:

• Coding License: RM 1499/year
• Dongle License: RM 1899/year

3. HashMicro

HashMicro’s Barcode & Inventory Management System is a versatile solution designed to simplify and optimize inventory operations. Equipped with features like barcode generation, inventory forecasting, and multi-warehouse management, it ensures efficient stock control across multiple locations. The system enhances productivity with real-time tracking, accurate stock aging analysis, and seamless integration with other business tools.

Key Features:

• Barcode Generation: Create and manage barcodes for products, documents, and storage bins to improve identification and streamline tracking.
• Batch and Serial Number Management: Assign unique identifiers to items or groups for precise tracking and accountability in inventory systems.
• Inventory Forecasting: Anticipate future stock needs with predictive analytics, ensuring balanced inventory levels.
• Multi-Warehouse Management: Oversee stock across multiple locations with real-time updates, space optimization, and efficient layout planning.
• Stock Aging Analysis: Analyze inventory age to identify and manage slow-moving or overstocked items effectively.
• Putaway Strategy: Automate the storage process by determining the best locations for incoming inventory based on capacity and type.
• Real-Time Dashboard: Monitor stock levels, internal transfers, and inventory activities through an intuitive, live operational dashboard.

Additional Features:

HashMicro also offers integration with POS and CRM systems, streamlining inventory and sales synchronization. The system includes automated workflows for stock requests and approval processes, ensuring smooth and efficient operations. Barcode creation for documents ensures authenticity verification and secure tracking.

Pricing:

Custom Pricing based on your business requirements.

4. QuickBooks

QuickBooks Online offers a seamless inventory management solution tailored for small and medium-sized businesses. With features like real-time stock tracking, automated low-stock alerts, and integration with popular sales platforms, QuickBooks ensures you always stay on top of your inventory. The software provides multi-location tracking and detailed reporting to optimize stock management.

Key Features:

• Real-Time Inventory Tracking: Automatically updates stock levels as items are added or sold, ensuring accurate inventory records at all times.
• Low-Stock Notifications: Receive instant alerts when stock levels drop, allowing you to reorder and avoid interruptions in supply.
• Supplier Order Management: Track purchase orders and seamlessly convert them into accounts payable when inventory is received.
• Integration with E-Commerce Platforms: Sync with Shopify, eBay, and other platforms to consolidate sales and inventory data in one place.
• Inventory Valuation Updates: Automatically adjust inventory value in your balance sheet, providing real-time financial insights.
• Comprehensive Inventory Reports: Generate detailed reports to analyze stock performance, and sales trends, and optimize inventory levels.
• Multi-Location Inventory Management: Monitor and manage stock across multiple warehouses or outlets, ensuring full visibility and control.

Additional Features:

QuickBooks supports advanced inventory features through third-party apps like Stockpit and Erplain for B2B sales and multi-location tracking. It also offers tools for GST/VAT tracking, project profitability analysis, and recurring transaction management. Cloud-based accessibility ensures you can manage inventory anytime, anywhere.

Pricing:

• Simple Start: RM 68/month 
• Essentials: RM 98/month 
• Plus: RM 128/month 
• Advanced: RM 246/month

User Reviews:

5. HDPOS

HyperDrive POS Billing Software is a comprehensive inventory management solution ideal for retail businesses. It simplifies stock management with features like multi-level categorization, seamless stock transfers, and detailed audit capabilities. The software supports batch tracking, stock valuation, and dynamic drill-down views for enhanced visibility.

Key Features:

• Customizable Multi-Level Inventory: Organize inventory with dynamic categories and subcategories, allowing flexible views and detailed stock analysis.
• Efficient Stock Transfers: Move stock between warehouses effortlessly with complete audit trails, ensuring accurate tracking and accountability.
• Batch Tracking & Expiry Management: Monitor batch numbers and expiration dates to manage perishable goods effectively, with support for FIFO methods.
• Reorder Alerts: Stay ahead of demand with low-stock notifications, ensuring timely reorders and uninterrupted operations.
• Accurate Stock Valuation: Generate stock valuation reports using methods like FIFO or last purchase value for precise financial insights.
• Quick Stock Audits: Identify and resolve discrepancies between actual and recorded stock levels through efficient audit tools.
• Label Assignment for Tracking: Assign unique labels to inventory items to streamline stock tracking and improve accuracy.

Additional Features:

HyperDrive offers advanced functionalities like Excel integration for audits, internal stock usage tracking for services, and automated conversions between wholesale and retail units. Consolidated stock views provide valuable insights, enabling businesses to manage inventory and sales hierarchically.

Pricing:

• Pricing details are available upon request. Contact HyperDrive for tailored pricing plans to suit your business requirements.

User Reviews:

6. NetSuite

NetSuite Inventory Management offers a comprehensive solution for businesses seeking real-time inventory visibility and control. With features like multi-location tracking, replenishment planning, and cycle counting, it optimizes stock levels across all locations and sales channels. The software automates inventory processes, reduces costs, and enhances customer satisfaction. 

Key Features:

• Multi-Location Fulfillment: Manage inventory across multiple locations with predefined rules to eliminate redundant shipments, reduce shipping costs, and ensure stock availability.
• Demand-Based Replenishment: Optimize inventory levels using historical demand, sales forecasts, and seasonality to avoid stockouts or overstocking.
• Real-Time Inventory Visibility: Gain a unified view of inventory across warehouses, retail stores, and other locations, enabling better decision-making and faster fulfillment.
• Cycle Counting: Perform regular inventory checks without disrupting operations to maintain accurate stock records and reduce discrepancies.
• Traceability: Track items throughout their lifecycle, from supplier to customer, ensuring accountability and transparency.
• Stock Transfer Optimization: Proactively monitor and transfer inventory between locations to meet demand and minimize obsolete stock.
• Intelligent Fulfillment: Automate order fulfillment processes to minimize handling costs and boost efficiency while maintaining customer satisfaction.

Additional Features:

NetSuite includes advanced reporting tools for analyzing inventory performance, insights into slow-moving stock, and support for various costing methods like FIFO and LIFO. Its integration capabilities extend to ERP, CRM, and analytics, ensuring seamless business operations.

Pricing:

Custom Pricing based on your business requirements.

User Reviews:

7. Xero

Xero Inventory Management offers small businesses an efficient way to track and manage stock in real-time. It simplifies stock control by integrating inventory with accounting, providing a clear view of stock levels, values, and sales. With Xero, businesses can streamline invoicing, purchase orders, and stock adjustments. Its intuitive design and automation features save time and enhance decision-making.

Key Features:

• Real-Time Stock Tracking: Monitor stock levels as sales and purchases occur, ensuring you always have the right inventory on hand.
• Sales Insights: Identify best-selling and most profitable items with detailed reports, enabling informed restocking and pricing decisions.
• Integrated Invoicing and Purchase Orders: Add frequently sold items to invoices or purchase orders automatically, saving time on billing and procurement.
• Adjustable Inventory Levels: Update stock quantities and values directly within the system, accommodating returns, losses, or adjustments.
• Data Import and Export: Import inventory data in bulk using CSV files, simplifying initial setup and ongoing updates.
• Stock Valuation: See the total value of stock on hand for financial clarity and accurate reporting.
• Customization and Visibility: Connect Xero to your bank and other apps for seamless integration, enabling real-time collaboration and cash flow monitoring.

Additional Features:

Xero supports inventory management with features like attaching item photos, archiving outdated inventory, and creating credit notes for inventory adjustments. The software also connects to external apps for extended functionality, making it versatile for various industries.

Pricing:

• Starter Plan: $14.50/month 
• Standard Plan: $23/month 
• Premium Plan: $34.50/month 

User Reviews:

Key Factors to Consider When Choosing Inventory Management Software in Malaysia

• Cost and Local Support: Assess total costs, including setup and subscriptions, and ensure access to reliable local support.
• Integration with Local Suppliers: Opt for tools that connect seamlessly with local suppliers, logistics providers, and payment gateways.
• Multi-Currency and Multi-Language Support: Look for multi-currency handling (e.g., MYR, USD) and multilingual interfaces for accessibility.
• Scalability for Business Growth: Ensure the software can accommodate more users, warehouses, and transactions as your business expands.
• Cloud Accessibility and Mobility: Cloud-based and mobile-friendly systems are essential for real-time inventory tracking across locations.
• E-Commerce Integration: Integration with platforms like Lazada, Shopee, or Shopify is crucial for omnichannel inventory management.
• Industry-Specific Features: Choose software with features like batch tracking or expiration management tailored to your industry.
• Internet Reliability: Consider software that works well with variable internet speeds or offers offline functionality.
• Sustainability Features: Tools that help reduce waste align with Malaysia’s focus on sustainable business practices.

Conclusion

Choosing the right inventory management software can transform your business’s operations, improving efficiency and customer satisfaction while keeping costs in check. 

Whether you’re a small retailer, a growing e-commerce platform, or a large enterprise, the right tool ensures you stay ahead of the competition. 

As you evaluate your options, consider factors like scalability, integration capabilities, and industry-specific features to make the best decision for your business. With solutions like Refrens, QuickBooks, and NetSuite leading the market in Malaysia, your business is one step closer to streamlined operations and sustained growth.