Inventory Labs: How to manage your amazon business more efficiently
When you are selling on amazon, it's very important to stay organized with how much inventory you have. This can ensure you are not missing anything as well as keep track of how much money you are making. Inventory labs is one of the most popular inventory tools there is for a reason!
What is Inventory Labs?
Inventory labs is one of the most popular inventory tracking tools there is. It is used by many sellers from your small business to huge sellers with warehouses!
Inventory labs make doing product research super easy! They can give you all the information you need on product ranking, what your profit margins would be, and ability to tell you how much you should buy to start out!
Inventory labs have made listing your product super easy! You can directly list your products on the amazon site right from the tool! Even better than that is that they will even print your labels for amazon to scan when they are checking in your products to make the process hassle-free! You never have to toggle through multiple screens and be limited in the number of labels you have to print!
One of the biggest benefits of Inventory Labs is their accounting platform which makes tracking your expenses and profits extremely easy due to their ability to automatically calculate reports for you based on the information you put in. Now only is this a huge benefit from a tax standpoint, but it also gives you an idea of what products you have the highest margins on along with which products are selling the fastest!
Inventory is in the name of the company so you would expect them to have a great section for inventory tracking! Inventory labs keep track of how much inventory you have currently along with how much they cost per unit. This makes it easy in the future if you need to buy more. You will always know if you are paying more or less in the future along with an idea of how much you should buy without overbuying your demand!
Reports are a huge way to see how your business is doing. Inventory labs has many different types of reports you can create from comprehensive reports on what products you have, your suppliers and which product categories are most profitable for your business so you know what to focus on and what to stop doing!
How Much Does Inventory Labs Cost?
This is a very important question you may be asking yourself to see if its worth getting or not. Inventory labs currently cost $69/month, but you can save $138 by paying annually! Although the pricing may seem high, they do offer you a free 30 day trial so you can see if their product is worth it for you before you spend alot of money on it!
Is inventor labs right for you?
We recommend you get inventory labs if you are a more experienced seller. If you are someone who is just starting out and don't have a ton of inventory then it may not be the best idea to get inventory labs because it may eat into your profits. However, as you scale your business, things can get out of control quickly if you aren't organized.
Do YOU Want to Learn More About Selling On Amazon?
We are constantly pushing tons of content for amazon sellers like you can benefit from! Earlier we posted a blog about the top tools for streamlining your amazon business. One of the tools was Inventory labs while there were two other important essential tools we think you need to scale your business to the next level. CLICK HERE to learn more about those tools so you can be more informed about the products you buy before and after you buy and sell them!