As an eCommerce expert, we have seen many standalone business owners rely heavily on spreadsheets and face various challenges in visibility and tracking inventories as their business grows.
So what can be a different hit in this case?
The best POS system for inventory control can do that.
In this article, we will save you some trial and error by providing a 360-degree analysis of top-rated POS systems in the current market. We will dive deeper into the key features, pricing, hardware packages, and pros & cons of each choice.
Let’s take a look-see at this comprehensive POS system for inventory control review with us!
Contents
1. Best POS system for inventory control: At a glance
A POS system can be said to be an all-in-one omnichannel solution for business management. With built-in tools for advanced inventory management, sales, and staffing, it can support every side of your business.
Between a wide array of POS features, inventory management is arguably the cornerstone. Why? No doubt that as a business owner, you have to know exactly what’s in stock, what’s selling, and what’s not. And the best POS system for inventory management can help you do that.
A top-notch inventory tracking POS system is a game-changer, offering product and supplier registration, inventory audits, total value calculations, barcode scanning, sales reporting, and more. They can automate inventory management by allowing businesses to monitor their stock levels and make informed purchasing decisions.
Therefore, when looking for the best POS system for small businesses, let inventory management be the feature that seals the deal. Based on this requirement, we listed here some top-rated choices for the title “The best POS system for inventory control”.
👇🏻 Keep scrolling down and get it straight!
2. Best POS system for inventory control: Our top picks
Here are some top POS systems renowned for their excellent inventory management features:
- Shopify POS: Best for multi-channel selling
- Lightspeed Retail: Best for large inventories
- Square POS: Best for small businesses
- Toast POS: Best for restaurants
Now, let’s dive into a 360-degree analysis of each solution here to find the best POS system for tracking inventory!
2.1. Shopify POS: Best for multi-channel selling
2.1.1. Overview
Score | 4.6/5⭐ |
Pricing | From $5/month to $399+/month |
Hardware price | From $49 to $499+ |
Key features | ✔ Unified inventory management ✔ Detailed inventory reports |
Suppose you are looking for a point-of-sale stock management that ensures safety, ease of use, efficiency, and accuracy for your business operations. In that case, Shopify POS is a go-to choice that is worth every penny.
2.1.2. Pricing
Shopify POS requires you to subscribe to at least one Shopify plan to experience POS Lite. Shopify has different monthly plans, tailored to different business needs, including:
Monthly subscription | Transaction fee | |
|---|---|---|
Starter | $5/month | 5% + $0.30 |
Basic | $39/month | 2.9% + $0.30 online payments 2.6% + $0.10 in person |
Shopify | $105/month | 2.7% + $0.30 online payments 2.5% + $0.10 in person |
Advanced | $399/month | 2.5% + $0.30 online payments 2.4% + $0.10 in person |
Plus | $2500+/month | Quote-based, typically lower for high-volume |
In other words, Shopify POS Lite is free for all Shopify users, no matter what Shopify plan you are on.
Besides, if you are looking for more advanced features, you can try Shopify POS Pro at $89/month/location.
🔍 Discover a thorough comparison of both systems by visiting the Shopify POS Lite vs POS Pro article for an in-depth review.
2.1.3. Features
To streamline your back-of-house, Shopify POS offers these robust inventory features:
- Omnichannel inventory management: Your inventory will be updated instantly for purchases made online or at any location.
- Low stock reports: Set up minimum stock levels for your products and get notifications for low stock and out-of-stock situations.
- Sale item suggestions: Know which products aren’t selling so you can make actionable decisions.
- Inventory counts: Make the most use of a barcode scanner to match your store inventory to your records.
💡 Check more powerful features of this tool in Shopify POS review!
2.1.4. Hardware
Hardware package of Shopify POS includes:
- Retail kit: $219
- Barcode scanners: $229 to $329
- Label printers: $299 to $499
- Receipt printers: $299 to $369
- Cash drawers: $139 to $159
- POS Go (with case): $429
2.1.5. Payment method
Here are some of the payment methods you can set up on Shopify POS:
- Credit/debit card payments
- Cash payments
- Shop Pay installments
- Gift cards
- Custom payment methods
2.1.6. Who should use it
- Businesses with multiple sales channels
- Businesses that sell online
2.1.7. Pros & cons
2.2. Lightspeed Retail: Best for large inventories
2.2.1. Overview
Score | 4.1/5⭐ |
Pricing | From $109/month to $339/month |
Hardware price | Custom |
Key features | ✔ B2B catalog ✔ Inventory tracking system |
As the best POS system for tracking wholesale inventory, LightSpeed Retail is craftily designed to reduce errors and make inventory management a breeze.
2.2.2. Pricing
LightSpeed Retail offers 3 main plans, including:
Basic | Core | Plus |
$109/month | $179/month | $339/month |
Transaction fees:
- 2.6% + 0.10 for card-present transactions
- 2.6% + 0.30 for keyed-in transactions
2.2.3. Features
When choosing LightSpeed Retail as your inventory solution, you will have a chance to experience these features:
- B2B catalog: Access thousands of products synced straight to your system and automate your supplier information.
- Inventory tracking system: Track inventory levels and SKUs with unique serial numbers across multiple locations.
- Bulk pricing changes: Make price changes across your entire business with just a click.
- Inventory analysis: Provide insightful reports of trends and confidently plan about your locations and inventory.
2.2.4. Hardware
LightSpeed Retail POS offers some hardware kits for iPads, MacOS devices, and Windows PCs. However, it does not publish the price of each package. You should contact the LightSpeed Retail team to get an exact quote.
2.2.5. Payment method
Considered the best POS system for large inventory, Lightspeed Retail has a wide variety of payment types:
- Cash
- Check
- Credit card
- Credit account
- Gift card
- Debit card
2.2.6. Who should use it
- Enterprise-level businesses
- Businesses with large inventories
2.2.7. Pros & cons
2.3. Square POS: Best for small businesses
2.3.1. Overview
Score | 4.6/5⭐ |
Pricing | From $0 to $29+/month |
Hardware price | From $59 to $799 |
Key features | ✔ GTIN and SKU barcodes ✔ Purchase order management |
Square POS is a complete inventory control solution, which helps you say goodbye to time-consuming spreadsheets and lets it do the heavy lifting with a digital database of all your products and up-to-date analysis.
2.3.2. Pricing
As the best free software for POS & inventory, Square POS has an affordable pricing plan:
Free plan | Plus | Premium |
Free | From $29/month | Custom |
Transaction fees:
- 2.6% + $0.10 for card-based transaction
- 3.5% + $0.15 for manual keyed-in sales
- 2.9% + $0.30 for eCommerce payments
2.3.3. Features
Square POS is equipped with important features to manage your inventory efficiently:
- Automatic item creation: Search or scan a Global Trade Item Number (GTIN) barcode to add items to your catalog automatically.
- Low-stock alerts: Be notified when each of your items reaches their minimum quantity level so you can reorder.
- Purchase order management: Easily create, edit, and manage purchase orders for every vendor from different locations.
- GTIN and Stock Keeping Unit (SKU) barcodes: Easily add, search for, and manage products by using a GTIN, or create SKUs for your products through your online Square Dashboard.
2.3.4. Hardware
Square POS has full options of hardware devices that you need:
- All-in-one POS with dual screens: $799
- Compact card reader and receipt printer: $299
- iPad-based POS with integrated payments: $149
- For existing iPads: $149
- Compact card reader: $59 (2nd gen)
2.3.5. Payment method
Available payment methods of Square POS are:
- Manual credit card entry
- Card on file
- Gift card
- Invoice
- Send payment link
- Cash app pay
- Cash
- Check
- Other gift cards or certificates / Other payment types
2.3.6. Who should use it
- Small and medium-sized businesses
- Budget-conscious businesses
2.3.7. Pros & cons
2.4. Toast POS: Best for restaurants
2.4.1. Overview
Score | 4.2/5⭐ |
Pricing | From $0 to $69+/month |
Hardware price | From $100 to $5000 |
Key features | ✔ Unified inventory tracking system ✔ Comprehensive reports |
As one of the best POS systems for restaurants, Toast POS can help you easily manage stock to ensure you have the right products in the right places at the right time.
2.4.2. Pricing
Toast POS offers different plans for every type of restaurant, from single-location restaurants to growing ones. Here is a breakdown:
Starter Kit | Point of Sale | Build Your Own |
Free | $69/month | Custom |
Transaction fees:
- Starter Kit: 3.09% + $0.15
- Core Plan: 3.5% + $0.15
- Traditional pricing (Pay for hardware up front): 2.49% + $0.15
2.4.3. Features
To keep your culinary and finance teams on the same page, Toast POS comes with these top-notch features:
- Inventory counts: Get counts done quicker on your phone or mobile device by mapping count lists to your unique kitchen setup.
- Unified inventory tracking system: Make bulk changes to adjust prices across all your channels at once.
- Comprehensive reports: Offer insightful data such as actual vs theoretical (AvT), depleting inventory, and more.
- Centralized order management: Send orders directly to your suppliers with seamless purchasing & order management capabilities.
2.4.4. Hardware
Depending on your specific hardware packages and installation needs, Toast POS offers different choices:
- Handheld Starter Kit: $799.20
- Countertop Starter Kit: $1,024.20
- Guest Self-Service Starter Kit: $1,339.20
- POS hardware components: Terminals cost $800 – $2,000, handheld POS cost $500 – $1,200, credit card readers cost $100 – $400, and kiosks cost $1,500 – $5,000
2.4.5. Payment method
Toast POS allows you to configure various payment methods, including:
- Mobile payments
- Cash
- Credit
- Gift card/loyalty
2.4.6. Who should use it
- Restaurants, cafes, and food service businesses
- Small to mid-sized restaurants
2.4.7. Pros & cons
3. What are some must-have features in a POS inventory system?
Here are some features that you should look for when choosing the best POS system for inventory control:
3.1. Inventory tracking
Your POS system can ensure that all inventory is up to date by adjusting stock totals as new inventory comes in from vendors or when an order is fulfilled. Also, it can track patterns of missing value to identify waste, shrinkage, and theft.
Better inventory tracking means less time spent counting and reconciling inventory. It saves you and your staff time and effort to focus on serving customers and growing your business.
3.2. Sales reporting
POS solutions will keep tabs on your stock, expenses, and COGS from anywhere, at any time with comprehensive and insightful reports available on demand. By making the most use of these sales reports, you can stay on top of the latest trends and ensure your customers are getting exactly what they want.
3.3. Purchase order management
With the purchase orders feature, you can create and save orders for the supply of products, send orders to suppliers, receive products, and save information about suppliers in the system. All in one unified dashboard.
3.4. Barcode scanning
Use a barcode scanner to match your store inventory to your records and perform accurate inventory counts for incoming orders.
3.5. Vendor management
By keeping track of the source of all your inventory, you will never lose track of vendor information again. Some POS systems can automatically reorder stock from suppliers when inventory levels hit a preset minimum. This reduces the risk of running out of stock and ensures that businesses maintain optimal stock levels.
4. How to choose the suitable inventory control POS system for my business?
It is not easy to find the best POS software for complex inventory and even a small one. Below are helpful tips that can tip your choice in favor of the inventory system that best fits your business needs.
- Clearly define your requirements (such as inventory size, complexity, and required features like tracking, reporting, and integrations)
- Identify the inventory features that the POS system can offer
- Know how much you are willing to spend
- Make sure it is user-friendly for every employee in your business
- Read reviews of other users who have already used that POS
- Check the security features (Data privacy and protection must be a high priority)
- Try its free trial or demo before making a purchase
5. Final thoughts
To wrap up, the best POS system for inventory control can help maintain healthy stock levels for each product. Inventory is the backbone of a business – it means that a strong backbone supported by a powerful POS system can make a big difference.
With various POS choices in the market, it is your task to research and review everything carefully. If you have any other questions about these potential POS solutions in this article, why don’t you leave us a comment below? We are willing to share more helpful insights about the POS world so you can find a perfect fit!
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6. FAQs
