Learn about actual and potential costs
How much should I pay for Inventory Management Software?
What is the average price of Inventory Management Software?
This procurement report includes pricing information to help you purchase Inventory Management Software. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Inventory Management Software been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Inventory Management Software yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Inventory Management Software?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Inventory Management Software with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
Market share concentration for inventory management software is high, even though there are about 400 suppliers in the market. The four largest vendors, IBM, Microsoft, Oracle and SAP SE, account for more than 50.0% of market revenue. Market share concentration has been increasing in the three years to 2020 as... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
How does your firm maintain a competitive edge?
What is your reputation among customers and peers, and how have you developed it?
What is your client turnover rate? How long do your contracts last, on average?
How do you market your software to potential clients? Do you rely heavily on repeat buyers?
What proprietary software or technology do you use? How will that affect our ability to maintain and troubleshoot in house?
To what extent can our data be extracted from your software in a raw format? Can data be removed if we do not renew?
Can I integrate your content with other vendor software, such as CRM/VRM programs?
Is it required that we use your proprietary software or technology, or can we use our own systems?
What improvements are you currently planning? Do you have a calendar of future enhancements?
What new features/functionality have you added in the past year? What improvements do your customers request most frequently?
How often is maintenance performed? Will my service be disrupted during maintenance and how much notice will be given of planned disruptions?
What is the size of your R&D budget?
What checks and balances are in place to ensure that my software customization process has received a thorough evaluation?
Who normally identifies errors when they occur?
How do you balance quick turnaround times with maintaining maximum accuracy?
How much access and time do we have with technical staff?
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Key elements for every RFP
What should my RFP include?
Buyers should specify the number of expected software users and level(s) of software access required.
Buyers should detail the contract term for annual ongoing costs (e.g. system support, upgrade and maintenance charges and license fees).
Buyers should consider vendors that offer software solutions that meet the requirements of the RFP.
Buyers should review the experience of vendors based on client references and the quality of their customer service.
Buyers should evaluate providers based on the estimated costs of the inventory management software and services they are providing.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should provide the timeline of the RFP and project.
Buyers must include the date of when proposals are due and when the award information will be available.
Buyers should provide any other benchmark dates that suppliers will need to be aware of (e.g. system testing date and IT evaluation date).
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for inventory management software exhibits an overall low level of risk. However, suppliers still face some risk from the supply chain. Suppliers need a variety of products and services, including computers, to create their software and provide ongoing support. Computer and peripheral equipment manufacturers in particular have... Subscribe to learn more.