Inventory Lab Reviews? Thoughts on InventoryLab.com

AMZTrackerAMZTracker admin
edited January 2016 in Amazon Seller Tools & Software
Inventory Lab Review

This post is to provide AMZ Tracker Community members insight into other products and services and to get your feedback.
We are not affiliated with, nor do we endorse these products.

Product Overview:

Inventory Lab offers a one-stop shop for managing inventory and accounting processes for your Amazon business by automatically pulling your seller data to their web application-No manual entry required. The tool allows sellers to understand real time profitability and in-stock inventory value. You can even print labels directly from the app.

The robust accounting features help you track all of your business expenses from top to bottom. Everything from fulfillment costs to subscriptions. Co-founder and CEO Ryan Stephens created Inventory Lab as a means to solve his own pain points as an Amazon seller. Once he saw the benefit of the tool, he decided to share it with the public. You can see more from Ryan on his Reddit AMA here.

Inventory Lab Overview and Tutorial:





Social Media:

Twitter: https://twitter.com/inventory_lab
Facbeook: https://www.facebook.com/InventoryLab
Google+: https://plus.google.com/+InventoryLab/about

Support:

https://inventorylab.desk.com/

Pricing:

$49/month
$490/annual (save 17%)

Reviews?

Tell us your experience.

Do you have any feedback on Inventory Lab that other community members could benefit from?
What do you love about the tool, and what could they improve?

Has anyone compared any of the below?
  • InventoryLab vs. Scan Power?
  • Inventory Lab vs Outright?
  • Inventory Lab vs Stitch Labs?



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Comments

  • I mentioned this before in a post... I generatelly like Inventory Lab, but I have just unsubscribed from their service after using it for about a year.

    Like: If done properly, shows you ROI on each product. If entering all expenses, it will use Amazon API to calculate total costs and revenues to give you a picture of how much exactly you made or los either by product or by month, week etc.

    Dislike: Dispite having many interesting features, it is not a complete system. It is marketed as an "inventory" tool, but I cannot effectively manage our inventory with IL. I have inventory in a local warehouse and in Amazon - this is yet another place to enter shipments, expenses etc... Instead of easing the workload, it gave me more things to do... Shipments go out every week, so you need to manually tell it that you got this and sent out that... It also does not replace an accounting system, such as QuickBooks or Xero - so great, now you or your accountant needs to keep track of inventory PLUS you have to do it in their back end... which for us was a big hassle... Also, this does not make you money... knowing how much I make after Amazon fees etc is nice, but how does it pay for itself? AMZ Tracker, for instance, gives me useful information for marketing, shows me progress of a campaign, helps me promote products... IL gives you more data and more work and I want less work. Ideally, there should be a system that integrates easily or replaces completely an inventory and accounting system. If someone is entering the same data, it might as well be in one place. It also does not help you plan inventory at all... I can see how much product was sold in Seller Central...

    Again, this is a well made product that addresses some issues and gives you some useful data, but I am still on the lookout for something more complete from inventory and accounting standpoint.

  • edited January 2016
    Review Update:
    I thought I would give a quick update of my Inventory Lab review. My team has been using the Inventory Lab software for a month or so now, and it's working well for us. It takes my manager a little bit of time to dig through the data, but it's a huge improvement upon Amazon's backend.

    Bad:
    Horrible UX. The software is not very intuitive or visually appealing (at least for our needs).

    Good:
    With a little effort it gives us the data we need that is really difficult to get elsewhere.

    I wanted to be able to take a quick snapshot and see all of my sales, my ROI, giveaways, profit, etc and Inventory Lab helps with that. My manager still has to manually take the data from InventoryLab and then transfer it to a spreadsheet, but it still works.

    Also, we tried out Stitch Labs and even had a call with them, but they don't have the ability (yet) to filter out Amazon fees, so it ends up being useless for us here. The UI is much better though.

    TL;DR - it's working for me and I'm keeping it until something better comes along.
  • allooalloo
    edited January 2016
    Inventory Lab software gives a total value of inventory unlike any other easy amazon system at a very reasonable price. The ability to keep track of costs, notes, vendors is very good. Knowing gross profit after amazon fees and warehousing, sales, and profit per sku or asin, is essential. If you have a good size business this is essential. The interface is a bit "clunky" but is good enough. Apparently it is difficult to do what InventoryLab achieved; I'm very willing to put up with a few cosmetic shortfalls.
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