In the world of Magento, inventory management is made more accessible and effective through extensions. In this blog, we'll explore some of the top Magento inventory management extensions available right now, highlighting their features and benefits for Magento Open Source. Whether you're a small business owner or a large enterprise company, these extensions can help streamline your inventory management processes.
Inventory Management in Magento Open Source vs. Adobe Commerce
Before diving into the extensions, it's important to understand the distinction between inventory management in Magento Open Source and Adobe Commerce. Both versions offer inventory management capabilities, but there are some key differences.
Adobe Commerce's Native Inventory Management
Adobe Commerce — the paid, premium eCommerce solution that’s built on the Magento codebase — comes with native inventory management capabilities. This includes multi-source inventory (MSI), which allows you to track your inventory levels across multiple warehouses, stores, and pickup locations. You can also set out-of-stock thresholds and allow backorders. The system also supports real-time stock accuracy and multi-channel inventory tracking. Adobe Commerce's native system also offers advanced functionality for managing product quantities, order processing, and shipping.
Extensions compatible with Adobe Commerce can enhance these capabilities, providing even more flexibility and customization options. When selecting extensions for Adobe Commerce, consider your specific needs and how an extension can complement the platform's native features.
Magento Open Source Inventory Management
While Magento Open Source doesn’t offer the same native inventory management capabilities, you have the flexibility to select an extension or build a customization to meet your specific inventory management needs.
5 Popular Magento Inventory Management Extensions
We’re going to highlight some popular Magento inventory management extensions that you can use to enhance your Magento Open Source or Adobe Commerce site:
Advanced Inventory by Wyomind
Advanced Inventory is a multi-stock management and drop-shipping extension that offers a wide range of features, including:
- Multi-warehouse inventory management
- Real-time inventory tracking
- Backorders and stock reservations
- Inventory reports and insights
This versatile module accommodates a wide range of scenarios and needs, as well as boasting user-friendly configuration options. Pricing starts from $311 for a lifetime license. This extension is a strong choice for businesses of all sizes.
Multi-Warehouse Inventory by Amasty
Multi-Warehouse Inventory is another popular extension that offers similar features to Advanced Inventory. It includes the ability to:
- Easily create multiple warehouses
- Manage stock right from the product grid
- Reduce delivery cost with a smart algorithm
- Create shipments in one click
- Set custom shipping methods and rates
Amasty is a trusted name in Magento extension development (and an IronPlane partner), with a 4.4 star rating out of 5 on Trustpilot — so you know this is a solution you can depend on. The extension costs $349 for Magento Open Source users and $649 for Adobe Commerce sites.
Inventory Management by Magestore
Magestore’s Inventory Management extension is a great tool for businesses that need a more basic but still comprehensive inventory management solution. It includes features such as:
- Centralizing products in Magento core
- Syncing multi-channel and multi-location inventory
- Inventory accuracy tools
- Manage multiple warehouses
There is no pricing provided by MageStore, but you can book a free demo of their solutions on their website.
MageMob Inventory
MageMob Inventory is a cloud-based inventory management solution that integrates with Magento. This solution stands out due to its mobile-forward approach to inventory management — it uses an Android and iOS app that users can tap into for inventory management on the go. It offers features such as:
- Mobile access
- Multi-channel and order management
- Purchase order management
- Reporting and analytics suite
- Retail inventory management
- Supplier and warehouse management
MageMob Inventory does not have a dedicated website, but Capterra lists the solution as costing $99 one-time.
Magento 2 Multi-Vendor Multi-Warehouse Inventory Dropship by Webkul
Webkul’s Multi-Vendor Multi-Warehouse Inventory Dropship extension offers a wide range of features for multi-warehouse management, including:
- Splitting product inventory between multiple warehouses
- Rapid customer delivery capabilities
- Hassle-free logistic processes for sellers
- Optimized shipping costs
- Integration with shipping carriers
This extension costs $219 for a license — they also charge an optional $44 fee for installation, as well as multiple support period extensions beyond the included three month coverage.
Finding the Right Magento Inventory Management Extension for Your Business
Whether you're using Magento Open Source or Adobe Commerce, these inventory management extensions for the Magento platform can help you streamline your operations, reduce costs, and provide a seamless shopping experience for your customers. Select the extension that most closely fits your needs and budget, then find a Magento development partner like IronPlane to help you effectively implement it to give your store the features you need to succeed.
FAQs: Best Magento Inventory Management Extensions
What are the key features to look for in a Magento inventory management extension?
When choosing a Magento inventory management extension, look for key features such as real-time inventory tracking, multi-location inventory management, automated stock updates, low-stock alerts, and the ability to sync with multiple sales channels. Advanced features like batch and serial number tracking, purchase order management, and integration with shipping and accounting systems can further streamline your operations and enhance efficiency.
What are some of the best inventory management extensions for Magento?
Some of the top-rated Magento inventory management extensions include Boost My Shop’s Embedded ERP, Magestore Inventory Management, and Multi-Source Inventory (MSI). Boost My Shop’s Embedded ERP offers comprehensive features like advanced stock management, supply chain automation, and purchase order management. Magestore Inventory Management is known for its flexibility in managing multiple warehouses and handling complex workflows, while Magento’s built-in MSI feature allows businesses to manage inventory across multiple locations natively within the platform.
How can an inventory management extension improve my Magento store’s operations?
An inventory management extension improves your Magento store’s operations by automating critical tasks such as updating stock levels, managing inventory across multiple locations, and syncing data with other systems. This reduces the risk of human error, ensures more accurate stock levels, and enhances the overall efficiency of order fulfillment. With real-time insights into inventory, businesses can better anticipate demand, avoid stockouts, and optimize supply chain processes.
Is it important for Magento inventory management extensions to integrate with other systems?
Yes, integration is essential. The best Magento inventory management extensions should seamlessly integrate with other systems such as ERP platforms, accounting software, shipping providers, and point-of-sale (POS) systems. These integrations ensure that all parts of your business, from sales to fulfillment, are connected, allowing for more efficient operations and accurate data across all platforms.
