The main things your inventory management software should be capable of:
Store your entire product portfolio in one place with no need to enter something twice
Integrate with the most popular business tools for a unified experience
Use barcode scanners for stocktakes
Attribute as many variations (size, color, embellishments, etc.) to each product
Track orders from suppliers, so you know when stock is expected
Reorder points to avoid stockouts
Be accessible to you anywhere while still being secure, also known as cloud inventory management