Inventory Lab Review – Why We Use Inventory Lab For Listing Amazon FBA Inventory

As Amazon FBA resellers, we’re all looking for ways to save time and money in processing our inventory. One of the biggest ways I encourage FBA sellers to save time by spending a little money is to use a third-party listing service, rather than listing your FBA inventory directly through Amazon Seller Central.

The fewer times you can touch a piece of inventory as you process it, the better. By listing through Seller Central…and then printing your labels on a sheet of 30…and then separating the items out into the various fulfillment centers, you are spending a lot of time touching each inventory item over and over and over again. 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.

The best way to streamline the listing process is to use a third-party listing software so that you can scan the item into the software, print and attach the individual label, and sort the item into the correct fulfillment center’s box – all in one step.

For our Amazon FBA business, we use the Inventory Lab inventory management software. We love how it helps us streamline the process of listing our inventory, along with several other useful functions that we use on a regular basis. It is well worth the monthly fee to pay for this software and save a ton of time, not to mention gain access to useful reports for our business (we’ll get into that a bit more below).

Here are the reasons we find Inventory Lab to be a beneficial program to use in our Amazon FBA business:

  1. Inventory Lab is a feature-rich listing service.

We use a barcode scanner to scan an item into the system, and Inventory Lab pulls up the item with all the information we need to price it. It shows the FBA, Merchant Fulfilled, new, and used prices, as well as whether Amazon is selling the item and who owns the buy box. It gives quick links to CamelCamelCamel and Keepa for the ASIN of the item, so we can check out sales rank and price history as we’re pricing the item.

Inventory Lab List

Inventory Lab also lets us know the item’s current sales rank, category, size tier, and any prep needed, like poly bagging. We can also enter our buy cost and the supplier for each inventory item, so we can later generate reports to help us keep track of things like return on investment or the profitability of certain sources.

As we enter in the items, we always choose “Live” for “Workflow Type.” This way Inventory Lab lets us know which fulfillment center each item is assigned to, so we can sort them into piles or boxes as we go, no need to go back and sort them later — they are already in piles ready to be boxed for shipment.

  1. Inventory Lab is packaged with the Scoutify sourcing app.

Photo Apr 15, 10 23 15 PMWe use the Scoutify app when doing retail arbitrage. 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: competitors’ prices, whether Amazon is in stock, potential profit, and links to CamelCamelCamel, just to name a few. You can see our detailed review of Scoutify in this recent blog post. It’s great to be able to pay one package price to get our listing service and our sourcing app together.

  1. Inventory lab has accounting capabilities.

We are still in the process of learning everything that Inventory Lab is capable of doing in the form of bookkeeping, but so far we have found it to be helpful. If you want to make your Amazon FBA business profitable, you have to know your numbers. You can’t just assume because you’re getting disbursements from Amazon that your business is actually making money. You have to know where your money is coming from and where it is going.

Inventory Lab Accounting

You can use Inventory Lab to keep track of your buy prices, sales prices, return on investment, inbound shipping costs, money going out for refunds, money coming in from reimbursements, and more. You can even track your mileage with Inventory Lab! These are the types of numbers you need to know in depth for your business so that you can make better decisions for sourcing, for repricing, and for other services you might need to purchase.

  1. Inventory Lab shows us reports on profitability, profit and loss, and sales tax.

One of the really cool features of Inventory Lab is that you can generate reports about profitability of your inventory. You can see the profitability of an entire category in your inventory, a particular ASIN, or a SKU.

Inventory Lab Analyze

If you entered in a supplier during the listing process, you can generate reports on supplier profitability. You can use the supplier profitability feature several different ways:

  • to keep track of inventory purchased by different sourcers you’ve hired
  • to see if certain stores or wholesale accounts are more profitable than others
  • to analyze how profitable an online arbitrage deal list is for your business over time

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 good decisions for your business.

Inventory Lab175_InventoryLab has so many features as a program that we’ve really just scratched the surface in this review. Like I said, we’re still in the process of learning all the ways to maximize this software in our business, and we’re more impressed with its usefulness every day.

If you’re interested in learning more about Inventory Lab, we recommend doing a 30-day free trial. You can play around with the features, send in some shipments, generate some reports, and see how Inventory Lab can work for you.

Do you use Inventory Lab? Is there anything you love about it that we didn’t mention here? Please let us know in the comments!

24 responses to “Inventory Lab Review – Why We Use Inventory Lab For Listing Amazon FBA Inventory

  1. WHICH BROWSER DO YOU USE? I,ve had problems with scanning, then printing labels..inconsistent. I use a Mac. Thoughts, suggestions?

    • I use Inventory Lab on the Firefox browser on my Mac and don’t have any problems with it. I’ve heard using Safari sometimes causes glitches, and that Firefox is better. I’ve hear the same thing abbot other listing services too… it’s not just IL. Try using Firefox and it should work better for you. Also, Inventory Lab has a good support group. They can help you work out any issues too.

  2. I use InventoryLab on a Mac and it works great. I use it in Safari, and am able to connect to a Demo label printer and print labels for each item as it’s listed.

  3. Regarding, “As we enter in the items, Inventory Lab lets us know which fulfillment center each item is assigned to” – how is this done since for me until all items are entered and you click to create the shipment you do not know what fulfillment center the individual items will be going to?

    • There are two ways to list in Inventory Lab, “live” and “private” workflows. The advantage of a “live” workflow is that you can sort as you go, but you can only make as many changes to your items or quantity that Seller Central allows (5% or 6 units). The advantage of a “private” workflow is that you can make as many changes as you want as you list, but the destinations are only a guess, so it’s best to wait until the feeds have been created to sort your shipments. My guess would be that Stephen is using a “live” workflow and that you are using a “private” workflow. We use the private workflow as well so that we have the flexibility to make changes as we list.

      • Rebecca Smotherman Rebecca Smotherman

        Thank you so much for your comment. Yes, you are correct that we use “Live” for the Workflow Type. We prefer to sort the items into fulfillment centers as we go. It’s a trade off, not being able to make changes like you can in “Private” Workflow.

    • Rebecca Smotherman Rebecca Smotherman

      Thank you so much for asking this question! Yes, as others have pointed out, this feature is available if you choose “Live” for the “Workflow Type.” If you have it set to “Private,” you won’t know the fulfillment centers until you create the shipment. I’m sorry this wasn’t clear in our original post — we’ve updated it to reflect the answer to this question. Thank you again for asking!

  4. Stephen: I love reading your blogs and the information that you share – comment or request: is there a way for us to print off your blogs – for those pieces that we would like to read over and over?

    I enjoy having some of this information close by – and not having to scramble around looking around or trying to figure out where I read it.

    Also – is the Scoutify Application with Inventory Lab (as I have both), a ‘live’ feed or is it a database? My wife tried to use it once, since your post – and it was very slow.

    Thanks for the tips and advice !!

  5. Charlene Anderson

    Judy, using the Live workflow will assign the items to a FC.

  6. If I can’t afford a dymo yet, can you print 30 up labels with IL? I know it’s not quite as efficient but it’s the best I can do at the moment. Also, as a newbie, I know you get a free mo., but wondering if IL has affiliates that have access to discount codes. $ is pretty tight, but really need a program that will help to keep my books, Excell just doesn’t cut it, and I do not want to go retroactive to input inventory. Thanks Stephen!

    • Yes, you can still print the 30 labels per sheet from the Seller Central shipping queue. Right now, I don’t know of any Inventory Lab discounts available.

  7. Dear Rebecca and Stephen,
    Thanks for all your information. So helpful. Question: Can Inventory Labs incorporate Ebay and possible Etsy into the accounting? Does the Scoutify work for Ebay also?
    Jewel Guzzardi

  8. Great info! Two questions:

    1) Does the info on Scoutify differ in any way from what I’d found in the seller app, e.g. restrictions, etc.? I have heard that sometimes one app can be more accurate than another, and sometimes you have to go back and check on Amazon. I keeping getting confused about this.

    2) More broadly, how do you determine the percentage of your income that should be taken up by monthly subscription fees as you are beginning and scaling your business?

    • 1. Scoutify doesn’t tell you all the time if an item is restricted, so I’ll check Amazon Seller app on items that I’ll be going deep on or spending a lot of capital on.

      2. That’s a good question…. and one that I’ll ponder on for a while. This might be a good blog post for the future. I’ll get back to you on this… but so as not to leave you hanging, I would think that 10-15% would be a good starting point.

  9. Wish I had stumbled upon this website when I was first getting started! lots of cool information on here. Quick question: do you know if it is possible to change the colors of the profit and expenses on the dashboard?

  10. Do Inventory Lab work outside USA?

  11. Hey Stephen, great work here! Very useful, thank you very much!
    As a newbie, i have a question about SKU:
    After opening a new batch, i enter my personal SKU with some initial information hoping that IL would take on automatically as i scan my books (Ex. GDW_10_6_2016_…… (space for sequential numbers).
    Unfortunately, as soon as i delete, change my mind or go back an entry (for whatever reason) , the SKU cannot be changed and the whole count gets messed up.
    Most importantly, when i feed my batch to Amazon Seller Central, i have the problem to reconcile my new entries, as i prepare and print labels for the new batch directly on Amazon SC (can’t afford a Dymo for now…). It’s basically almost impossible to find the newly-entered inventory items, unless they are clearly marked in a specific, recognizable way. I am hoping for a more automated way to handle the shipment’s preparation.
    I am pretty sure i am missing something in this process. Can anyone be kind to clarify ?

    Thank you in advance and Keep on “booking” !!!


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