Top 10 Parts Inventory Management Software for Your Facilities in 2024

Poor inventory management can wreak havoc on maintenance operations. It's like a frustrating game of hide-and-seek with crucial parts and supplies.

When you need them the most, they mysteriously vanish, causing costly downtime and headaches. On the flip side, you might find yourself drowning in a sea of excess inventory, tying up precious resources and cash.

The impact is undeniable. Maintenance costs skyrocket, productivity takes a nosedive, and technicians waste valuable time searching for elusive parts.

Skilled technicians end up twiddling their thumbs while waiting for supplies, and low-priority tasks take precedence over critical ones due to parts unavailability.

If you're here, you've probably faced at least a few of these inventory troubles. We've curated a list of the ten best parts inventory management software you can choose from.

But first, a quick recap on what parts inventory management entails and how software solutions can help you streamline inventory management.

What is parts inventory management?

Parts inventory management is the process of tracking and managing the inventory of parts and components used in a business.

It includes tasks such as:

• Receiving parts from suppliers
• Storing parts in a safe and organized manner
• Issuing parts to employees or customers
• Tracking the usage of parts
• Reordering parts when necessary
• Maintaining accurate records of parts inventory

What does a parts inventory management software do?

Parts inventory management software can automate many of these tasks, freeing up employees to focus on other activities. It can also help you to improve inventory accuracy, reduce waste, and improve customer service.

Here are some of the benefits of using parts inventory management software:

• Improved inventory accuracy: It helps you prevent stockouts and overstocks, which can save businesses money.
• Reduced spare part waste: Parts inventory management software tracks the usage of parts, so using this information, you can identify parts that are not being used and discontinue their purchase.
• Improved customer service: Parts inventory management software can help you to improve customer service by providing accurate information about the availability of parts. This enables you to meet customer demands more quickly and efficiently.

There are many great parts inventory management software options available, each with its own strengths and weaknesses.

10 of the best parts inventory management software in 2024

1. Facilio
2. Cin7
3. Orodoro
4. inFlow
5. Katana
6. Zoho Inventory
7. ShipBob Merchant Plus
8. Fishbowl Inventory
9. Skubana
10. Sortly
11. monday.com

1. Facillio

Facilio seamlessly integrates inventory with work orders, ensuring that stock availability is tied to the successful completion of preventive maintenance tasks, inspections, or on-demand work orders.

You also get real-time inventory visibility as Facilio automatically resets inventory levels.

Further, you can issue technicians with all the parts and tools they need to execute a work order to perfection.

Technicians can also raise inventory requests from an easy-to-use mobile app in case they need additional parts midway.

These requests are automatically routed to a store manager who can promptly address the request and ensure the parts the technician needs are delivered quickly.

Next, Facilio notifies you when stock levels drop below a set reorder quantity and automatically schedules a request for restocking.

You can send PR, RFQ, or a PO to vendors, set up approvals, and centrally manage inventory from a single platform.

Lastly, planning and budgeting for parts inventory management are simple with Facilio's dashboards, which help you visualize patterns in parts usage, track inventory levels, and forecast purchases.

With accurate and real-time insight into your inventory levels, you can make data-driven budget decisions to reduce excessive inventory costs, improve oversight, and maximize inventory availability.

What do users like about Facilio?

Sumit S, an employee at a facilities management company, reviews Facilio after using it every day for 1-2 years.

This is what he likes about Facilio:

1) Flexibility to quickly adapt to the existing operational methods without any hassle
2) Amazing support since implementation (apparently, they take customer service very very seriously!)
3) Will not drill a hole in your pocket - even in comparison with other established platforms that has got relatively lesser features and functionalities.
4) Already future-proof and consistently putting fruitful efforts to maintain that edge

Facilio has a stellar 4/5 rating on GetApp

2. Cin7

Cin7 is a cloud-based inventory management software that offers a wide range of features, including barcode scanning, inventory tracking, and order fulfillment. It is a good choice for businesses of all sizes, but it is particularly well-suited for businesses with complex inventory needs.

3. Ordoro

Ordoro is another cloud-based inventory management software that offers a wide range of features, including barcode scanning, inventory tracking, and order fulfillment. It is a good choice for businesses that sell products online or through multiple channels.

4. inFlow

inFlow is a cloud-based inventory management software that is specifically designed for small businesses. It offers a user-friendly interface and a range of features, including barcode scanning, inventory tracking, and order fulfillment.

5. Katana

Katana is a cloud-based inventory management software that is specifically designed for manufacturers. It offers a range of features, including barcode scanning, inventory tracking, and order fulfillment. It also offers features that are specifically designed for manufacturers, such as bill of materials (BOM) management and manufacturing resource planning (MRP).

6. Zoho Inventory

Zoho Inventory is a cloud-based inventory management software that offers a range of features, including barcode scanning, inventory tracking, and order fulfillment. It is a good choice for businesses that are looking for a cost-effective inventory management solution.

7. ShipBob Merchant Plus

ShipBob Merchant Plus is a cloud-based inventory management software that is specifically designed for businesses that use ShipBob for fulfillment. It offers a range of features, including barcode scanning, inventory tracking, and order fulfillment. It also offers features that are specifically designed for businesses that use ShipBob, such as real-time inventory synchronization and integrated shipping labels.

8. Fishbowl Inventory

Fishbowl Inventory is a desktop-based inventory management software that offers a range of features, including barcode scanning, inventory tracking, and order fulfillment. It is a good choice for businesses that need a more robust inventory management solution than a cloud-based solution can offer.

9. Skubana

Skubana is a cloud-based inventory management software that is specifically designed for dropshippers and businesses that use Fulfillment by Amazon (FBA). It offers a range of features, including barcode scanning, inventory tracking, and order fulfillment. It also offers features that are specifically designed for dropshippers and businesses that use FBA, such as automated order processing and real-time inventory synchronization.

10. Sortly

Sortly is a cloud-based inventory management software that is specifically designed for small businesses and asset tracking. It offers a range of features, including barcode scanning, inventory tracking, and asset tracking. It is a good choice for businesses that need to track the location of inventory or assets.

Picking the right parts inventory management software for your facilities

When choosing a parts inventory management software, it is important to consider your specific needs and requirements. Some factors to consider include the size of your business, the complexity of your inventory needs, and your budget.

Here are some features and capabilities you should look for in a parts inventory management software to ensure it fits perfectly with your needs today, and into the future.

1. Comprehensive tracking: The software should provide detailed tracking of parts inventory, including real-time visibility of stock levels, locations, and movements. This ensures accurate inventory management and prevents stockouts or overstocking.
2. Integration capabilities: Compatibility with existing systems such as work order management, asset management, and purchasing systems is crucial for seamless data flow and efficient operations. Look for software that offers easy integration options.
3. User-friendly interface: A user-friendly interface simplifies navigation and reduces the learning curve for technicians and store managers. Intuitive features and workflows contribute to better efficiency and productivity.
4. Mobile accessibility: Mobile compatibility allows technicians to access the inventory system on the go, enabling them to request parts, track availability, and update inventory information directly from the field.
5. Automated processes: Look for software that automates key inventory processes such as reordering, stock alerts, and request routing. This reduces manual effort, enhances accuracy, and ensures the timely availability of parts.
6. Reporting and analytics: The software should offer robust reporting and analytics capabilities, providing insights into inventory trends, usage patterns, and overall inventory performance. This empowers data-driven decision-making for better inventory optimization.
7. Scalability and flexibility: Consider the scalability of the software to accommodate the growth of your organization. It should be flexible enough to adapt to changing business needs, such as supporting multiple locations or handling different types of inventory.

Hope this article has helped get your further in your journey of evaluating the solution that fits your parts inventory management needs to streamline your maintenance processes.

The product experts at Facilio love solving problems across the O&M spectrum!

If you'd like to understand how inventory management software can boost your maintenance efficiency and, in turn, operational excellence, get in touch today!