Inventory is a list of goods in stock i.e. total amount of materials contained in a unit/store. Inventory management is the management of that list of material in stock. Efficient inventory management means that there should be constant inflow and outflow of material, it should be a consistently controlled process so that inventory should not become too high or too low. Buffer stock should be kept in order to meet the uncertainties in the market i.e. in the demand of goods as well as to meet the time lag from supplier to user. Inventory can be of different types like raw material inventory, work in progress inventory, finished goods inventory and goods for resale inventory. Different components of an inventory management system are barcode scanner, barcode printer, barcode label, inventory software etc. Inventory management software works along with barcode for inventory tracking and control. These software provide business solutions for managing inventory, sale, purchase and shipping etc. Below is the compiled list of top five freeware inventory management software.
1. Pos Maid
Pos Maid is free software for inventory management and control which is very helpful in merchandise retail sale like in provision store, super market store, electronics goods store etc. POS stands for Point of Sale. This program has many good features like you can easily fill in your inventory and has complete control over it; customer and employee management, financial report generation, account management, low stock alerts etc. This software is recommended for small business stores.
2. inFlow Inventory Free Edition
inFlow Inventory Free Edition is a free inventory management software which keeps your business organized and manages all your cumbersome paper work easily. This program keeps full track of inventory from purchase till sale. Its features include product and customer management; issue invoice and create purchase order; multiple units measurement, creates business documents, automatically assembles finished products and updating inventory; barcode scanner for accurate inventory management and much more.
3. ABC Inventory Software
ABC Inventory Software is a freeware inventory management application which should be an absolute choice for small and middle level business groups because it works like a professional. This program is jam packed with multiple features like purchase order management, complete inventory track along with barcode, sale and shipping order management, scheduling warehouse appointments, automatic stock report generation, sale quotations, unlimited database record, mailing labels and so on.
4. BS1 Enterprise Accounting Free Edition
BS1 Enterprise Accounting Free Edition is a freeware program for inventory control and management which is useful for small business section. This program has a very simple interface with very easy to use design. It has different department like accounting, distribution and manufacturing department which have further sub terms like sales orders, purchase orders, accounts payable, accounts receivable general ledger, inventory and much more.
5. Chronos eStock Card Inventory Software
Chronos eStock Card Inventory software is a freeware inventory management application which keeps the complete track of your sales, purchase and warehouse inventory. It supports barcode system. Its features include detail inventory tracking, customizable interface, email alerts, complete inventory management, stock transfer, report generation, multi currency conversion and many more.