The software also analyzes listing products, printing labels, tracking profits/costs, and making FBA shipments. Stratify makes it feasible to track expenses, view total in-stock values, and monitor traffic on the accounting side. You can trace all of your business expenses in one place; this makes it simpler to make strategic decisions. Complete reports are also possible, ensuring you know which products and suppliers are the most profitable. From a strategic prospect, having this information can save you a lot of time and money.

Before you could sync your numbers, a Bqool user would have to enter their original buy cost manually. Now, Bqool imports the buy cost — a huge help when it comes to setting up your minimum and maximum prices within Repricing Central. One of the really cool features of Inventory Lab is that you can generate reports about the profitability of your inventory.

Access Product Prep Information

It doesn’t have to be same day but that sort of guarantee definitely made me feel more confident about their support’s responsiveness. In this tab, you can select your desired period and it literally sums up ALL incoming and outgoing money to and from your business and presents them in a clean, color-coded table. This report is extremely useful because it allows you to see everything from a bird’s eye view. If that was the case, you may want to hold off on going knees deep into the gaming category, because its performance may have been the exception rather than the rule.

• Inventory Lab has two ways for adding the inventory to your system.
• Plus, you can also know how many sellers are selling your desired price, which can give you an edge over your competitors and help you determine an alternate way and stay ahead of them.
• Accelerlist preloads this graph right in the listing page for every product you scan, which lets you check for product seasonality with a quick glance.
• On downloading the app, you can calculate the profitability of each of the product in your inventory.

The fewer times you can touch a piece of inventory as you process it, the better. This doesn’t include the time it takes to sort your products after you bring them back from sourcing, removing any stickers, and prepping the products with poly bags or shrink wrap. If Inventory Lab reviews are not enough for you, you can use the 30-day free trial with access to all irs schedule 1 2 and 3 their features. If you choose a paid plan, you can access the same data beyond 60 days at no extra cost. Since our software is an all-in-one product, it means sellers won’t need to spend money on additional, unnecessary apps or software. We provide our users with everything they need to streamline their business processes, get organized, and stay organized.

You can create a listing of these products with the expiry dates. After adding the product to the database, you can modify the price at any time by checking the profit and ROI calculator. Inventory Lab has so many features — we’ve really just scratched the surface in this review. There are so many ways to maximize this software in your business, and we’re more impressed with its usefulness every day. You don’t need any extra tools to start using InventoryLab, but we do recommend that you use a compatible browser such as Chrome, Firefox, or Safari. You don’t need to download Stratify, but you do need to download the mobile app, Scoutify.

Best Alternatives of Inventory Lab

Get a feel of its great user interface, create and send in some shipments, do some product research, and generate some business reports. It’s a great way to understand how InventoryLab can actually help you scale your business. If you are a BQool user, with just one click of a mouse button, you can import all of your products’ buy cost from Inventory Lab directly into BQool’s Repricing Central. This saves you a lot of time because you won’t have to manually enter them any more, and when BQool imports the buy cost, setting up min and max prices in Repricing Central becomes faster and easier. On the other side, if you are an Informed.co user, you can connect your InventoryLab and Informed.co accounts to automatically sync the most current Cost/Unit amounts you’ve set for MSKUs in InventoryLab.

Managing duplicate product listings is a real challenge FBA sellers face every other day. If you enter different offers on the pre-entered ASIN, then you’ll get a warning message from the tool. Data – you need a lot of it if you are to determine the best use of your time and money. InventoryLab’s robust reporting system allows you to determine just that by showing you your business’ sweet spots and sore areas.

Can I export my data?

Even if you are a pro at adding ASINs to the database, finding a particular ASIN code can be a tedious task. Few sellers have various products added to their database, and that’s where Inventory Lab is a helpful tool. It provides you with a search bar that the sellers can use to search for different ASIN codes. Also, the sellers can even create batches of ASIN codes which can help them manage their inventory well.

Get weekly success tips on how to succeed as an Amazon seller – Subscribe for FREE today.

But if you want the insights as well, the cost increases to $94/mo or $715/mo. If you prefer to try ere you buy, Inventory Lab offers a 30-day free trial, with access to all their extensive features. There is an expiry date for groceries and other products which need to be marketed before that date.

Helps You Determine the Proper Prep Way

You can also generate reports about your profit and loss and your sales tax. Again, the more you know these types of numbers for your business, the more you’re able to make the right decisions for your business. For instance, you can measure profitability by source of inventory or by competitors. We also look once a month at the lines for each of our subscription services as the supplier. First, I look at the profit and make sure it’s more than the amount we’re paying for the subscription.

You can also use this report to see if you can source more of the exact same product, if you find its metrics interesting. On a larger scale, this report really helps you see patterns of consistently performing and underperforming suppliers. This allows you to see things like the top supplier that drove you the most number of sales, revenue, net profit or ROI. Similarly, you can sort by the lowest performing suppliers on any of these metrics.