If you haven’t yet, I suggest signing up for the 30-day trial to decide whether Inventory Lab meets your business requirements. Listing retail arbitrage inventory is made much easier with the Scoutify app. With the help of the Scoutify app, it’s possible to print a label and attach it to an item as soon as you list it. Scoutify is very popular with online and retail arbitrage sellers. Once you download the app, you can analyse potential inventory directly from your mobile device.
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The sellers can even create batches of ASIN codes to keep the inventory well managed. The smart software determines the type of product a customer has ordered and tells you about the right prep way. However, it is up to the FBA sellers irs announces 2014 retirement plan contribution limits for 401 if they want to use the suggested prep way or not. You can create a listing of these products with the expiry dates. Additionally, if you already have your information saved in a spreadsheet, you can easily import a .CSV file.
Weighted Average Method
Again, the more you know these types of numbers for your business, the more you’re able to make good decisions for your business. FBA sellers can use this tool to streamline and automate the operations for generating better sales. The price of this tool is $10 more than Inventory Lab, but it has going concern accounting and auditing a lot more features as well. When you click on Inventory, the tool displays everything, including total SKUs, total items in stock, total buy cost, and other important things FBA sellers need to know. Another impressive feature that Inventory Lab has is that it works with the Scoutify App.
Both support multiple types of thermal label printer.
The Dashboard option listed in the menu provides access to important stats. You can easily filter the data based on the month and year as per your requirements. You can read the product chart to understand the prices, ranks, and other details in a better way.
- As the name suggests, the supplier profitability report lets you see how profitable you were on the “supplier” level.
- 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.
- You’re 8 hours in trying to find the right Pre-Season product.
That’s not the case with AccelerList which means you’re going to have to shell out an additional $10 a month or so for an app like Profit Bandit. Or, cutting the categories/verticals/niches that aren’t performing well. As the name suggests, the supplier profitability report lets you see how profitable you were on the “supplier” level.
Inventory Lab Review – Why We Use InventoryLab For Listing Amazon FBA Inventory
Your subscription covers everything—InventoryLab, Scoutify, ScoutX, and for an extra $25 a month, you can also get our Insights add-on for smarter restocking. If you value your time, InventoryLab acquisitions pays for itself each and every month. Inventory management helps you figure out how much inventory you have, its value and how much you need to run your business efficiently.
You can always use Inventory Lab’s trial to get access to Scoutify app and start scanning items at your local stores to find great deals. I also feel IL has more accounting and reporting features, but AccerList’s reports and accounting sections look cosmetically better and don’t seem to lack any of the basics. The main highlight of the reports section is the different profitability reports available.
You might want to go for AccelerList just because of the slight pricing advantage. Recently born competitors like AccelerList are catching up fast, though. IL offers a generous 30-day trial and AccelerList offers a 14-day trial.
Your data belongs to you and can be exported at any time you choose. I would suggest you take the free trial first to evaluate the performance of this tool. The free trial doesn’t require adding the credit card info so you won’t get charged at all.
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. These tools empower sellers to automate and streamline time-consuming processes like inventory management, profit calculation, and decision-making. By looking at Inventory Lab reviews, it’s clear that using the right tool can be a game-changer, but like any other tool, you must master its use to get the most out of it. Yes, simply put, all businesses must report their inventory to their country’s revenue collection agency.
Every feature comes included in the subscription, and you don’t have to pay anything extra for it. Well, using Inventory Lab isn’t that expensive when compared to other tools available in the market. You either get billed annually or monthly, as there are only two options available on the official website.
It’s helpful in creating product listings in your database, and you will be using this feature most of the time. The best part about the List feature is that it helps FBA sellers prepare the FBA shipment from scratch. Managing duplicate product listings is a real challenge FBA sellers face every other day.
Take advantage of the Total Cost Calculator and eliminate the extra step of having to account for these costs separately. We are confident that this will save you time and ensure accurate accounting! If so, you can create individual lists for each employee to add their products to.
We can quickly scan the barcode of an item and have all the information we need at our fingertips to tell us if the item would be a good buy for resale. The profit is displayed in black, whereas the expenses get displayed in red, making it easier for sellers, especially beginners, to read the chart. You can even check the ROI and profit on the supplier level, so knowing all the details is easier with Inventory Lab. The FBA sellers can even import or export data using quick and advanced searching. The local accountants or CPAs working with you (FBA seller) can use the Accounting section for easy movement of data. It has a search bar where the sellers can search for different ASIN codes.
Surprisingly, even after closing my account of 12 years, there was no inquiry about my decision or any offer of a discount. However, with alternatives like Helium 10, MyProfit, Sellerize and Sellerboard offering more features at a similar or even lower cost, the competition has intensified. The tool helps you access detailed business reports that include the expenses required to run the FBA business. When using Inventory Lab, you don’t need other tools to track the reimbursements, sales, profits, and losses. If Inventory Lab reviews are not enough for you, you can use the 30-day free trial with access to all their features.
It’s a mobile app you (FBA sellers) can install on their Android and iOS devices to track the inventory. Using this tool, you can track almost anything related to your business’s finances and performance – including sales, reimbursements and refunds, profits, losses, etc. Or, an alternative approach is to get a $10/month subscription for Profit Bandit and test AccelerList 14 day trial. In any case, if you’re just starting out, both software will equally serve you well.
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. We can’t image sourcing for inventory without the using the Scoutify smartphone app when doing retail arbitrage.
