- Free Version: Available for teams of up to 10
- Pricing: Premium plan $24/seat/month (with free 30-day trial period)
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use SafetyCulture?
With SafetyCulture, vendors and manufacturers can easily track their inventory levels in different locations. This platform integrates with smart sensors that can track the temperature and air quality of various storage areas to ensure everything is stored at the right temperature. It also has a robust asset management feature to stay on top of equipment conditions, storage areas and racks, and inventory stocks so teams can constantly track inventory levels, monitor equipment usage, and even manage fleets, all from one place.
Features:
- Inspect storage and inventory areas with smart customizable checklists to ensure that employees leave no stone unturned.
- Gather data about stock levels and generate reports to keep everyone updated on stock levels in various locations.
- Make it easier for employees to report low stock levels so that the team can work on restocking right away.
- Develop your team’s skills by facilitating vendor-managed inventory training directly on the platform.
- Integrate the platform with other inventory management or control software for a smoother workflow.
Why Use Oracle?
Oracle helps streamline supplier collaboration and inventory accuracy across global supply chains. It improves vendor demand forecasting, automates replenishment, and reduces stock outs.
Features:
- Accounting tools
- Real-time inventory visibility
- Warehouse management tools
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use Fishbowl?
Fishbowl’s vendor managed inventory platform provides robust inventory control with easy integration to accounting and shipping systems. It helps businesses maintain balanced stock levels and improve vendor and supplier communication.
Features:
- Automatic reorder generation
- Barcode scanning support
- QuickBooks integration option
- Free Version: No
- Pricing: Contact vendor for pricing
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
Why Use Katana?
Katana gives manufacturers and vendors live inventory updates and order management in one intuitive interface. As a vendor managed inventory software, it reduces stockouts and simplifies supplier workflows.
Features:
- Ecommerce integration
- Purchase order automation
- Visual production scheduling
- Free Version: No
- Pricing: Starter plan starts at $179/month, billed annually
- Platforms supported: Available as a web-based software
Why Use Finale Inventory?
Finale Inventory helps manage vendor inventory with robust reporting and multi-channel stock control. It improves forecasting, automates reordering, and ensures accurate inventory counts.
Features:
- Integrations with multiple markets
- Automated replenishment alerts
- Customizable reporting options
- Free Version: No
- Pricing: Self-starter plan starts at $99/month
- Platforms supported: Available as a web-based software
Why Use Square?
Square simplifies inventory tracking for retailers and suppliers with automatic low-stock alerts and real-time updates. It supports small businesses by streamlining stock control.
Features:
- Bulk edits
- Multi-location inventory syncing
- Real-time stock adjustments
- Free Version: Yes
- Pricing: Plus plan starts at $29/month
- Platforms supported: Available as a mobile app (iOS and Android) or a web-based software
What is Vendor Managed Inventory Software?
Vendor-Managed Inventory (VMI) software is a digital solution that enables suppliers to manage customer inventory levels. This collaborative approach to inventory management allows vendors to monitor, plan, and replenish stock based on real-time data and agreed-upon parameters, ensuring optimal inventory levels and reducing stockouts or overstock situations.
Importance
VMI platforms are important because they help businesses maintain the right inventory levels by automating replenishment and improving stock visibility. These platforms strengthen collaboration between vendors and companies, enabling quicker responses to changes in demand. By reducing manual tasks and forecasting errors and demand, VMI software increases efficiency and helps businesses avoid costly stockouts or excess inventory.
Key Features
Finding the right VMI can be a tall task for some organizations. Each option on the market has its own unique features, making it easy to get overwhelmed. That said, it’s critical to ensure that any VMI that you use comes with the following key features:
- Real-time inventory tracking
- Automated reorder management
- Multi-location inventory control
- Supplier collaboration tools
- Demand planning and forecasting capability
- Purchase order automation
- Barcode and QR code scanning support
- Low-stock alert notifications
- Customizable reporting options
- Multi-channel stock management
How to Choose the Right Vendor Managed Inventory Software
While each option featured above is a great pick for VMI, it’s important to find the best fit for the team. Here’s a quick comparison of all the VMI software mentioned earlier:
| Vendor Managed Inventory Software | Free Version | Paid Plan | Mobile App |
| SafetyCulture | Yes | $24/seat/month* | Yes |
| Oracle | No | Contact vendor for pricing | Yes |
| Fishbowl | No | Contact vendor for pricing | Yes |
| Katana | No | $179/month* | No |
| Finale Inventory | No | $99/month | No |
| Square | No | $29/month | Yes |
* billed annually
Leon Altomonte