If you want to run your Amazon business with significant profits and efficiency, you may need Inventory Lab to reduce your unnecessary efforts. Nowadays, it is easy for all the online merchants to list and sell their products through Amazon FBA.
But there are many necessary things that you need to take care of to sell anything efficiently. Many applications are there to manage your data and help in the workflows.
Such tools are not only helpful for your Amazon business but also, it makes everything crystal clear. It is necessary to know whether you are investing your money in the right way. In the following Inventory Lab review, we will go through detailed information about this tool and how it can effectively run a business. This application stands at a different corner in the inventory management system of Amazon.
If we talk about the interface, it comes with a simple user interface, making the listing process relatively easy. You can access and do everything if you do research and listing well for your Amazon business. It makes everything quick and streamlined. It is possible to create FBA shipment and barcodes on all your goods. Let us discuss the Inventory lab in detail.
How is Inventory Lab Helpful for Your Online Amazon Business?
Makes the Listing Process Fast
If you want to add ASINs to your system, there are two different ways to create an effective listing. It is possible to upload all the information, including sales tax and buying cost of the products, etc., on the list. When you get the software list in the software, you can easily scan it by using a barcode scanner. The entire data of the product will be displayed.
Managing the Price
When you upload the Buy list, you will also include the cost and link it to the supplier. After logging the unit, you can modify the item’s price with the help of an ROI calculator and net profit.
When you use the Inventory Lab, it shows the price, current offers, quick links to access price history, etc. You can also add an option of “Ship to Amazon” to provide a facility to the customers. In this way, you can easily go through the margins and make good pricing decisions.
Determine the Right Prep Way
When you use the Inventory Lab, you can get the prep information. In this way, you can determine the right way to pack the product, like bubble-wrapped, polybagged, etc. You can also get the size tier and decide the type of parcel. If you do prep in the right way, Amazon will not charge or penalty for wrong prep.
When you are uploading the buy list with offers on the same ASIN, the Inventory Lab will give a warning. You will get notifications to either remove or merge all the duplicates. In this way, there will be no duplicates in your product list.
Simplified Parent-Child ASINs
It is a complicated task when anyone lists their items through ASIN variations. It is possible to make small mistakes, and in the end, you can disappoint your customers and Amazon by sharing the wrong information. The Inventory lab helps in providing a warning in case of the ASIN variation and allows you to pick some selling products from the list.
Maintains the Inventory Structure
Even if you are an expert in code-cracking, then looking for the inventory in Seller in the ASIN’s long list is quite difficult. The main aim of the Inventory Lab is to create batches so that the added ASINs stay together. It makes everything well-managed and organized. The sellers can make strategic decisions regarding their business after understanding it properly.
Date of Expiry of Products
There is an expiry date for groceries and other products which need to be sold before that date. You can add the expiry date in the listing process to set the lifetime of the inventory. In this way, your products will be sold quickly.
FBA Shipment in a Specific Warehouse
Within a few clicks, you can list the products along with the price in the Amazon warehouse. After listing, it is easy to determine the location of the buy list in which the warehouse. With the help of Inventory Labs, you can also sort various products on the list and make relevant changes according to your FBA shipment.
Printing barcodes of Your Product Lists
When you add your products to the list, you will get the barcode print. There is no need to batch print the barcodes after ending the session or determine which product’s barcode belongs. The printed code will stick to it effectively without putting many efforts.
How to Source New Products from Amazon?
In this Inventory Lab review, we will understand how we can list and manage the inventory and know-how to source new Amazon products. Let us check out some of the following steps:
Getting a Mobile App Known as Scoutify 2
If you want to source new products with the help of Inventory Lab, then you need a mobile app, i.e., Spotify 2.
Scanning and Executing
With the help of this application, you can scan the product’s barcode to get the entire information about it. You will see all the ASIN’s existing offers, the sales rank, and the net profit breakdown of both MFN and FBA. It is possible to preset the shipping fee of the web service of the Inventory Lab. It can also include an ROI breakdown and net profit.
Scouting New Products
It is not necessary to have the product with you. It is possible to research the product by typing a keyword. You will get detailed information about the product, including the sales rank, and offer a count of the same category. When you research deeply into the ASIN, you can divide the details of the breakdown page of ASIN into ROI and net profit.
Easy Uploading of the Buy List
Suppose you have all the information about the products you have brought in Scoutify 2 shopping. It is possible to send and open the buy list in Inventory Lab. You can do different tasks at the same time in your inventory if the fields are automatically matched.
Easy Scouting of New Products on the Web App Stratify
There is a web app of Inventory Lab, also known as Stratify. It also provides all the pricing details of the product on the list. It includes the fulfillment fee of FBA, type of prep, price history, ROI breakdown, net profit, etc.
Get Information About Your Business In a Few Seconds with Analytic Reports of Inventory Lab
In the following Inventory Lab review, we will discuss certain questions that come into the sellers’ minds. If anyone gets complete information about his business, it will help them make strategic decisions on their seller account of Amazon. Inventory Lab answers several questions regarding business decisions. You must check out the following questions:
Information About the Supplier to Whom You Should Contact
It is necessary to know which supplier is profitable for your business. It can be determined by analyzing the profitability report for every level. In this way, you can easily determine what things are correctly working and what needs to be improved.
Things You Should Replenish
When you check the Inventory Lab’s Velocity Report, you can determine different things that you need to replenish on an SKU or ASIN level. You can get information like lead time, inbound, things inside the inventory, daily sales, replenishing date, supplier information, etc. In this way, you can calculate the safety stock. It provides an error margin and takes a lot of energy and time for the setup process.
Inventory Lab Pricing
You can buy the annual plan, which can cost you $40 per month. There is a trial period of 30 days to enjoy all the services for free. You can access Scoutify and Stratify to check the details of the inventory, printed labels, and listed products. It comes in a less expensive price range, in which you can enjoy all the features for a year.
The Bottom Line: Inventory Lab Review (2021)
The use of Inventory Lab is perfect to list products on Amazon for buyers. It is possible to monitor many things like shipping rate, expiration dates, ROI calculator, etc. to make specific improvements while making their business's strategic decisions.
There is a 30-day trial period to enjoy all the features of listing and managing items in the inventory. In this Inventory Lab review, you might have understood how it is helpful to use inventory management to run the Amazon business smoothly. If you can manage everything properly, then no can stop you from earning profits efficiently.
It is possible to check the analytics of the workflow to keep everything clear while doing your business. It is necessary to access Scoutify and Stratify to keep checking the labels, inventory, and listed products. Grab the deal as soon as possible.