February 24

InventoryLab Review: Amazon Seller Software That Streamlines Your Workflow?

 

 

InventoryLab Review

Are you looking for a way to ramp up your online selling expertise as well as your bottom line?

InventoryLab has all the bases covered.

There’s really no way to operate an Amazon e-commerce business of your own in an efficient way without a powerful software product by your side.

In my own e-commerce journey, it’s become painfully true that I can’t manage to keep track of accounting data, individual products, profit margins, ROI, the location of each piece of merchandise, etc., without some kind of automated, software-based help.

 

What to Think About Before Buying

The unique problem these days can be summed up in one word: competition.

Just about anyone with a rusty old desktop computer and a basic smartphone can list hundreds of items for sale on e-commerce sites, particularly Amazon.

If you are searching for a software product to help you get out front of all your competitors, it needs to be fast, agile, easy to set up, user-friendly for both you and your customers, not so pricey that it cuts into your profits too much, and reliably detailed for finance and accounting data.

And, to stay competitive, you need not only all the features and capabilities noted above, but simply must have software that is designed to speed up your workflow.

Being an e-commerce merchant is a totally different ballgame when your listings include hundreds, perhaps thousands of products.

When I started out, for the first two years I only sold three items on Amazon and did everything from my laptop with zero software of any kind.

Before you purchase any type of product to help you navigate through the Amazon FBA maze and get the job done right, decide first of all how much money you are willing to spend and have the ability to spend.

Likewise, before buying something like InventoryLab or one of its competitors, it’s essential to do a trial.

There’s not a better way to evaluate the basics than to take these things out for a spin and see if the reality matches the advertising.

So, before you sign up with anyone’s product, test it out, make a list of questions for the seller, and see how quickly they respond, if at all.

 

What is InventoryLab?

The InventoryLab is designed to help you with your Amazon business and make the entire workflow process totally seamless and error-free.

Can it do that? Can any product do that?

My InventoryLab review below will delve into the finer points of the product and explain just what each feature can or can’t achieve.

InventoryLab is designed to let you know whether you’re making the right choice about each product listing you put up.

Its financial reporting and analysis function is said by the owners of InventoryLab to give you all the info you need to say “go” or “no go” for any given product.

That way, you can invest your money in exactly the right way.

InventoryLab has the potential to help you run your e-commerce business in a way that minimizes your expenses, maximizes profits, and puts financial data in your hands so you can make informed decisions about virtually everything pertaining to your business.

The InventoryLab software attempts to be an all-in-one solution for Amazon e-commerce owners by making it simple to list products, manage their sales data, track their whereabouts, and perform with the simplest interface possible for such a powerful package.

InventoryLab helps you do research on potential products you’re thinking about listing, lets you put them into your store in seconds, delivers detailed profit-and-loss accounting stats when you need it, streamlines workflow, makes all the necessary barcodes for FBA shipment you need, and seamlessly tracks the value, age, and location of every inventory item you own.

 

InventoryLab Home 00

 

InventoryLab Pros

  • The built-in scanning tool/app is unique and extremely helpful
  • Label-printing is easy and fast
  • Allows for efficient listing, accounting, and research of huge numbers of products
  • Simple user-interface

InventoryLab Cons

  • There’s no social community that focuses on IL Amazon users
  • Formatting of finance and accounting reports is inconsistent
  • The business reports are not as clear as they could be

 

Features and Benefits

To understand more, it’s necessary to examine the product’s features up close. Here are the key features of InventoryLab and a bit about each one.

 

 

Fast Listing

Product lists go up fast with InventoryLab. You can add products one at a time or in batches.

Once they’re loaded, the software will alert you if all the necessary data is not where it should be or otherwise not right. It’s easy to correct errors and then see the listing appear immediately.

Product Prep

InventoryLab provides all the info you need to correctly prep your items so you don’t end up getting charged by Amazon for “faulty prep.”

You’ll see, for example, whether you need to use bubble-wrap and what size restrictions (if any) there are on parcels.

Price Management

 

 

Here is where InventoryLab really shines. As you add individual prices to items, you can instantly see margins, ROI, and supplier data.

You’re not “stuck” with the initial price you select.

In fact, it’s wise to expect that you will want to raise or lower every price once you find out what other offers are, what your potential profit margin is for a given price point, and more.

Avoiding Duplication

It’s easy to lose track of ASINs and upload duplicate products. It happens often to large sellers.

InventoryLab gives you a clear alert whenever you attempt to use an ASIN you’ve already assigned.

This is a simple but very handy feature of the product.

Setting Expiration Dates

 

 

Sellers can set any number of expiration dates on products that need them.

When the date arrives, that item will automatically be removed from your listings but not from your inventory. You’ll still be able to see where it is so you can deal with it however you wish.

Barcodes

 

 

For many sellers, barcodes are a major pain. But InventoryLab does an end-run by assigning codes step-by-step as you upload your items.

That way, when you’re finished with a lengthy session, there’s no “batch” of codes to deal with. Each one is assigned and attached to the products as you upload them.

This simple feature will save you hours of time and is one reason InventoryLab creators boast about “streamlining” the workflow.

Scanning Tool

 

 

The beauty of the InventoryLab scanning tool is that you can enter or physically scan any Amazon product and get all the necessary data about it in one swoop.

Some of the included information is profit breakdown, sales rank, and every exiting offer for the associated ASIN.

Profitable Suppliers

 

 

Want to know which of your own suppliers are giving you the best deals?

Of course you do. InventoryLab business and accounting data reports reveal each supplier’s specific ROI for your own purposes.

That way, you can gravitate more of your buying to the suppliers who do the most to boost your bottom line.

 

Other InventoryLab Reviews

There are thousands of reviews out there for InventoryLab, with these being fairly representative of the overall user attitude for this Ecommerce software:

Review #1

Susan R. applauds IL’s top-notch customer service and notes that she “couldn’t run my business without it.”

Review #2

Bob S. says that it would be impossible to do FBA without InventoryLab and also commends the high-level of customer service by calling it “some of the best I’ve ever experienced.”

Review #3

Chris D. likes the way IL offers a “top-down view of your business,” and praises the incredible number of features that come built-in with the product.

Review #4

Ron B. says IL is the “gold standard” when it comes to Amazon software designed specifically for sellers.

 

Alternatives and Comparisons

There are some close rivals to InventoryLab out there, but each one has its own characteristics that make it unique.

The three main ones are listed below with my summary of how it matches up with InventoryLab.

 

Nembol

 

Nembol 000

Nembol does a good job of offering basic functionality for anyone who wants to sell merchandise online, but it’s not as comprehensive as InventoryLab, nor does it integrate as well with Amazon.

One thing Nembol does very well is that it can list all your products in varied locations, like social media, POS locations, and virtually any online site that sells products, including small and large blog platforms.

It’s even possible to share all your listings on multiple outlets as diverse as eBay, Amazon, Shopify, Etsy, PrestaShop, and more.

The trial is not as long, and the pricing is a bit trickier, ranging from $29 up to $139 per month depending what features you want.

Nembol Pros

  • Allows excellent functionality for cross-listing
  • Easy interface and setup

Nembol Cons

  • Cost is higher than IL if you want all the features
  • Geared more for amateur sellers who don’t need as much financial data
  • Short trial period

 

Related: Check Out Our Full Review of Nembol here.

 

Scanlister

 

ScanLister

Unlike some of InventoryLab’s competitors, ScanLister shouldn’t really be considered a “rival,” because it just doesn’t offer near the power of the top products in this niche.

For instance, if you like lots of accounting and financial info, and prefer to frequently re-set prices when the market changes, you’ll be left out in the cold with ScanLister.

ScanLister Pros

  • Lower price than its competitors
  • Generally easy to set up and use, for sellers

ScanLister Cons

  • That low price comes with far fewer features than IL
  • User interface is weak
  • Accounting features are almost non-existent
  • It’s hard to reprice items after you list them

 

Related: Check Out Our Full Review of ScanLister Here. 

 

AccelerList

 

AccelerList 00

AccelerList is perhaps the closest competitor to InventoryLab and comes with a lower price tag.

But, with that lower price you lose out on two key factors, namely the price scanning capability and the super-detailed accounting/reporting data features of InventoryLab .

But, it’s fair to say that AccelerList is a good buy for the price and offers many benefits for sellers.

AccelerList Pros

  • Excellent user interface
  • It automatically builds your initial box and places items in it
  • Competitive price at $34 per month for basic service

AccelerList Cons

  • Does not come with built-in mobile scanner. You must acquire one separately.
  • Noticeably weaker with reporting and accounting data than IL
  • Hasn’t been on the market as long so it’s harder to evaluate its track record

 

Final Thoughts

InventoryLab is the clear leader in this product niche.

The main benefit, from my point of view as a long-time e-commerce seller, is that InventoryLab offers the detailed financial data and instantaneous re-pricing function that is necessary to stay competitive.

Just a few years ago, you could probably gotten away with less detailed data, but not anymore.

InventoryLab solves the data dilemma, offers a super-simple dashboard, includes a built-in mobile price scanner, and is priced right at $40 per month with a full 30-day trial for the asking.

If you want more info about InventoryLab, check out their main website here. Good luck with your online selling.


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Join Our Growing Community of

Online Business Owners

>