/Inventory Lab: Streamlining Your Amazon Business Like a Pro
Inventory Lab: Streamlining Your Amazon Business Like a Pro
Inventory Lab is a third-party inventory management software. By connecting your InventoryLab account with your Amazon Pro Seller account, it can streamline inventory management and sales processes. Composed of diverse solutions, the software can efficiently aid in the many aspects of running an online business.
With the help of Stratify and the Scoutify app, InventoryLab will streamline your daily operational tasks. Here’s how these two solutions help the software be a necessity.
The Stratify App
Powering Business Operations
Stratify powers Inventory Lab to list products. It will create FBA (Fulfillment by Amazon) shipments when needed.
As a user, you can print product and barcode labels, integrating them with product information to enhance efficiency and accuracy. You can also track your costs to view the total profit, click useful links to Keepa, and view the pricing history of an item.
Strong Data Research
In current time, the tool conducts product research to deliver accurate information to sellers. This can help with smart decision-making while also saving time in data gathering.
Intelligent Bookkeeping
Bookkeeping is one of the most vital tools InventoryLab offers through the tool. Automated accounting enhances the efficiency of managing business operations and human error can really affect your profit calculations and business decisions.
Thankfully, this accounting tool can manage all types of business expenses, sales, and profits. The bookkeeper even tracks mileage. This continuously automatically updates your real net income.
A calculated ROI (return on investment) is an indicator of the health of your business’s finances.
Detailed Reporting
Stratify generates profitability reports as a critical feature. These reports help users account for their expenses, track product suppliers, and mainly measure data on profitability specific to your business. These automatically go into depth on which Amazon categories and suppliers are most profitable.
You can break down profitability by category, ASIN, or SKU. For instance, you can measure profitability by source of inventory or by competitors. This is ideal for sellers in online arbitrage.
Note that sales tax automatically adds into reports, saving you time on further calculations.
Inventory Management
Lastly is the tool that gives Inventory Lab its niche - the inventory tool. With this application, you can instantly view stocks levels, the sales value, and make inventory adjustments when needed.
Want to know the best repricing tool to pair with InventoryLab to automate your listings, increase sales and profits, and is super easy to use? You can learn more here.
The Scoutify App
Rapid Barcode Scanner
InventoryLab partnered with Scoutify to share the rights to sell the Bluetooth barcode scanner. This adds to the benefits list of subscribing to the software. The scanner is another streamlining initiative for sellers.
You would no longer have to take the time to manually type in a SKU. Nor would you need to analyze the product page to decide on a product's worth of purchase.
Upon scanning an Amazon product, you can quickly see useful information regarding its profitability. Such information that's presented is:
- Product name
- Number of offers
- ASIN
- Buy Box
- Current ranking
- Amazon category
- The total count of the product in the category
On top of that data provided to the user, Scoutify even places a thumbs up or thumbs down on the screen. This aids the seller in the worth of buying the specific product. This sourcing app shows competitor prices too, which can also be seen during the listing process within Inventory Lab.
Highly Accessible
Scoutify is very accessible as you only need your cellphone. You can share your account to an unlimited amount of devices as well.
Inventory Lab's Major Advantage
Seller software companies flood to the trending online marketplaces to sell their digital service. Yet, Inventory Lab has been able to be a leader in this competitive industry. The main reason for this is because its extensive product listing service directly connects to Amazon FBA, offering an all-in-one solution with web-based tools designed to streamline business operations.
With that, Inventory Lab can then limit the number of warehouses a reseller can use. Between that and the two solutions, Stratify and the Scoutify app, Inventory Lab is a powerful tool that users need.
Inventory Lab limits the count of warehouses to send inventory too.
What are benefits from that? Well the software offers two different ‘Workflow Types': Live and Private. If you are on the Private Workflow Type, an Amazon submission does not take place until a whole batch is set.
Because of the batch shipping, inventory is spread to less fulfillment centers. Hence, tracking is easier and more reliable.
With Live Workflow, you do not need to complete a batch in order to submit to Amazon. Also, this Workflow uses more FBA warehouses because there are higher amounts of submissions made.
Pricing
- 30 day free trial, no credit card needed
- Monthly Plan: $49 per month
- Annual Plan: $40 per month
Who is this software intended for? Amazon sellers.
It is ideal for the Amazon sellers with a high paced and rapid turnover business model. Such models are online retail arbitrage, , and private label.
But ultimately, this is for any Amazon seller who simply wants to save money and time. People don’t realize how much time is actually spent in the process of listing products. Much time is spent from:
- Listing their product onto Seller Central
- Printing labels
- Organizing the products according to the FBA fulfillment center and everything in between
Inventory Lab can do it all for you, including tracking and managing your business's finances.
In fact, Aura integrated Inventory Lab into its business to bring together streamlining and automation.
Seeing Aura is an automated automated Amazon repricing software geared for sellers, the help from Inventory Lab makes it a very powerful tool. This is why sellers who use this platform see a drastic improvement in revenue generated while being more hands-off in the workflow.
Not only does the online seller reap the benefits of Inventory Lab's services, but Aura Repricer takes it to the next step by having a direct influence on boosting sales.
For example, say you are a reseller. You can use the Inventory Lab perks for the reasons I previously mentioned - research, product listing, and more.
Then upon a product listing, Aura's automation service will continuously monitor product prices and adjust them according to competition. This will not only boost revenue through an increase in Buy Box ownership, but profits will be optimized as well.
Overall, think of Inventory Lab as a necessity.
It is probably clear to you now that this software can be an essential foundation to your business. No longer will you have the daily hassle of self-managing your Amazon FBA process.
Focus more on what you enjoy doing and let computer automation complete the rest. Note there are other seller software, like Aura, who take it to the next step to increase your online success.
