Inventory Management Tools For Amazon Sellers In 2021
Selling in-demand products on Amazon is a sure-fire way of getting financial independence. As an Amazon FBA seller, it’s vital for you to take measures that will help you process your inventory in a timely manner.
If you really want to take your business to the next level, you should consider using a third-party SAS (Software as a service) for Inventory Management. You may be under the impression that listing your products via Amazon Seller Central is your best option. However, working with a third-party service will yield better results.
You should focus on limiting the number of times you touch your inventory. When you use Amazon Seller Central, you are hindering your productivity. There’s no need for you to waste your precious time on printing labels and separating your items for multiple fulfillment centers.
This does not include bringing your inventory back for sourcing, taking off the stickers, and putting shrink wrap on your products.
I found out that using third-party software can help you save precious time and increase your profits. This is one of the main reasons why I became a top Amazon FBA seller.
In this article, we will cover the best inventory management tools for your Amazon business. They can increase your productivity and profits if you use them daily
1. Inventory Lab
What is Inventory Lab?
It’s a top-notch listing service for your products.
You can use a desktop barcode scanner to scan your items into Amazon’s system. Inventory Lab pulls up the data that will help you price them.
It shows the following: new prices, old prices, merchant fulfilled, the FBA, Amazon’s interest in selling the item, and the owner of the buy box.
Inventory Lab also gives links to Keepa for the item’s ASIN. This will help you check out the price history and sales rank. Getting this valuable information will help you price your items properly.
Inventory Lab List – This is where you will be able to get the item’s size tier, category, current sales rank, and details on prep.
You will also be able to create reports that will disclose your profit margins. Just enter your min/max price, your purchase price, and the supplier for the product.
Inventory Lab can limit the FBA Warehouses for Your Inventory
When you process your batch in Inventory Lab, you can choose “Private” or “Live” for the “Workflow” Type”.
When you select “Private” workflow, nothing will be submitted to Amazon until the entire batch is completed.
It’s important to point out that the “Private” workflow can change the final destination for some of your items. This is why you must make sure that your items are being sent to the right place.
The “Private” workflow seems to work better for many Amazon FBA sellers. It will send your products to fewer fulfillment centers.
The days of sending 50 items to 9 different warehouses are over. In my humble opinion, the “Private” workflow option can give you a sharp edge over your competition. This is why I believe you should take full advantage of it.
Inventory Lab Comes with the Scoutify Sourcing App
When it comes to doing retail arbitrage, I couldn’t imagine how things would be without the Scoutify Sourcing app at my disposal. One scan of the barcode will let you know if the item is a great buy for your resale business.
Scoutify will point out the following: the potential profit, competitors’ prices, sales rank, sales rank percentage, ROI, if you are allowed to market the product on Amazon, how many items you have in stock, your sales, ASIN’s Keepa graph, and links to ask for approval to sell restricted items.
With Inventory Lab, you can get the sourcing app and listing service at one incredibly low price. In essence, you will be killing two birds with one stone.
Inventory Lab has Great Accounting Capabilities
Inventory Lab uses its bookkeeping tools to organize your finances. You have to work on increasing your numbers if you want your Amazon FBA business to be profitable.
Don’t fall into the trap of believing that disbursements from Amazon are indications that your business is turning a profit. You must know where your capital is coming from and where it’s going. It’s really that simple.
Inventory Lab Accounting - As you are starting to see, Inventory Lab can take your Amazon FBA enterprise to the next level.
It can help you monitor the following: sales prices, buy prices, inbound shipping, return on investment, money coming in from reimbursements, money going out for refunds, and much more.
The Inventory Lab also makes it possible for you to keep track of your cost of supplies, mileage, and every other detail related to your business.
Getting this information will help you make the right decision for sourcing products and setting competitive prices for your products.
Inventory Lab Creates Reports on Profits, Losses, and Sales Tax
One of the best features of Inventory Lab is that you can create reports about your profits. You can break it down to profitability for a particular ASIN, a SKU, or an entire category.
Inventory Lab Analyze – If you enter the supplier’s name during the listing process, you can create reports on the supplier’s profitability.
Getting this information can help you do the following:
- See if certain wholesale accounts or stores will yield better profits
- Help you determine if an online arbitrate deal list is worth your time
- Help you keep up with inventory acquired by different sourcing companies (outfits you hired)
Staying on top of your profits, and sales tax will help you make sound decisions for your enterprise.
Inventory Lab can be combined with the BQool Repricer Service
I started using the BQool automatic repricer service two years ago. I heard about it, so I decided to give it a try. To my surprise, it works extremely well.
With one click of a button, you can direct your buy costs from Inventory Lab to BQool’s Repricing Central. This will help you save time. This comes in handy when it comes to establishing your minimum and maximum prices in Repricing Central.
Here’s a side note – You may be skeptical about Bqool. That’s fine. However, it increased my sales within three weeks.
This was a big game-changer. If it is working well for me, there’s no reason why it will not work well for you.
A Third Party Prep Service can Access Inventory Lab
To save time, you must outsource some of the work. Hiring someone to take care of the easier tasks will give you a chance to focus on other important parts of your business.
What should you outsource? You should outsource inventory prepping, packaging, and shipping.
Inventory Lab makes it easy for you to create several employee accounts for your shipments, FNSKU labels, and everything else you need to ship your products to an Amazon warehouse. Please keep in mind that the employee sub-accounts cannot get access to your financial details.
I use My Prep Center. From my experience, they are one of the best prepping centers in the business.
If you would like to get more information on Inventory lab, I suggest that you take advantage of their 30-day free trial offer. This will give you an opportunity to check out the features, ship inventory, and create reports.
Take Your FBA Business to a Higher Level
Are you fond of simplicity? Well, RestockPro can make things easy for you.
There’s one dashboard for monitoring inventory data, and you get support on making shrewd decisions. You also get dynamic automation tools that will help you save time.
In short, RestockPro can help simplify your business and expand your profits.
How does RestockPro Work?
RestockPro collects your FBA information and breaks it down to inventory intelligence. This will help you keep a close eye on your sales, competitor listings, projected profit margins, etc.
RestockPro will send you alerts about your inventory. The software will make suggestions on purchasing new inventory, and when you should order it.
Once you’ve made your decisions, RestockPro will process the information. It will create P.O.’s for your suppliers and inbound inventory shipments to Amazon.
RestockPro also collects and organizes shipment plans.
FBA Profit Management – The sky is the limit when it comes to the Amazon FBA program. Contrary to popular belief, high sales volume does not mean you are making profits. You must monitor your costs and keep your eyes on your most profitable products. RestockPro will help you do these things.
Track Your Margins – RestockPro does a fantastic job at figuring out the estimated margin for your stocked products by examining Amazon fees, your costs, and the average cost of goods.
The landscape at Amazon can change anytime. RestockPro can help you find new opportunities. This can help you stay one step ahead of your competition.
FBA Forecasting – You must know what you need to order, how much you need to order, and when you need to order it. RestockPro suggestions will help you make these decisions with ease.
Receive daily suggestions – RestockPro suggestions will point out needed restocks. The software will highlight them in red. Upcoming alerts will be highlighted in yellow.
For every flagged item, you will be able to see the suggested ship quantity and the suggested reorder amount.
You will also get pertinent information on profit margins, sales history, competitive offers, rank, etc.
The data will be stored in one place, so you can make the appropriate restocking calls.
Issue Purchase Orders With RestockPro
Purchase Order Management for FBA Sellers
Restock Pro will help you record the items shipped from your suppliers via purchase orders. It will also record your costs.
Manage Your Orders with Ease
With RestockPro by your side, the “Restock Suggestions” feature can help you create your P.O.’s. In return, you will be able to meet your supplier target order projections without any difficulty.
If you decide to use an external system for this process, the data can be imported or exported by Restock Pro.
Shipments to Amazon FBA
Restock Pro makes it extremely easy for you to structure the right shipments, pack them, and make sure they make it to their destination on time.
Optimize Your Shipments
Send the correct shipments
RestockPro’s tools are a dream for Amazon FBA sellers. They make solid suggestions on what you should ship to the Amazon FBA warehouse. The Shipment Wizard gives you the option to create case pack shipments or an individual shipment.
Once your shipment is ready to go, you can look at the prep and sticker requirements for every product. This is called “Quality Control”.
What makes Restock Pro special? It is designed to help you cover all your bases. When all the bases are covered, you will be in a position to run your business efficiently.
Use RestockPro To Print Stickers And Labels
Experienced Amazon sellers know that accurate shipment prep is mandatory. It’s vital for everyone in the shipping and receiving process to know what is in the shipment. RestockPro makes this communication easier, and you will be able to print labels and stickers that are compliant with Amazon’s policies.
Simplify Shipment Prep with Stickers
Multiple Flexible Options (Includes Two Extra Lines per Sticker) - I found out that stickering your inventory to comply with Amazon’s policies is simple with Restock Pro. Simply choose the print sticker option to get a preview of your stickers. The line items required by Amazon are in the software. This will help you avoid violating Amazon’s terms.
You have the option of adding two additional line items so that your stickers have more description. This includes the following descriptions: your store name, Supplier SKU, ASIN, SKU, UPC, and EAN.
You can add more product identifiers so that the sticker can help you manage your inventory locally. This may not seem like a big deal to you. However, these special features will make your job easier.
Destroy Your Competition with Kits
How can you be successful on the Amazon FBA platform? You must make an earnest effort at increasing your profit margins and focus on winning the buy box. Kitting can help you do both with ease.
Kit building puts you in a position to market your customized bundles of goods. You will be the sole owner of the buy box. Your prices will not be affected by your competitors. This will make it easier for you to become an authority in your niche.
It’s imperative to mention that selecting the right kits for your products is not that easy. Fortunately, Restock Pro can help you do this without any difficulty.
Restock Pro can help you do the following:
- Identify the kits that are suitable for your business
- Create kits with a few clicks of your mouse
RestockPro is dependable when it comes to analyzing selling trends. This will help you target the products that can be marketed in custom bundles or multipacks.
Designing a kit is not as difficult as you may believe. The instructions can be followed by a middle school student. You can set up the kit as a single product or as a set of multiple products. The choice is yours!
What is RestockPro?
RestockPro, created by eComEngine, LLC, is an innovative automation tool that is built on cloud-based analytics. It is designed to help you take your Amazon FBA business to another level.
When it captures and analyzes critical data from different sources, it can give you clear insight into your business. It will also make recommendations that can help you make your business operate in a more efficient manner.
You will be able to automate some of the tasks associated with your business, and you will have the freedom to concentrate on other parts of your business.
Does RestockPro have limitations?
This amazing software is exclusive to Amazon FBA sellers.
Do you offer special support for bundles, multipacks, or kits?
This is an excellent question. Yes, we support our kits, bundles, and multipacks. We know that supporting these items can help you stay profitable.
RestockPro offers the following important incentives for your FBA business:
- You will be able to manage kit reorders without any problems
- The software will make it easy for you to spot profitable kitting opportunities
- RectockPro monitors demand and profitability on your kits
- RestockPro comes fully equipped with Kit Optimizer technology
Does RestockPro Work Outside of the United States?
At this present time, RestockPro supports stores in the United States, Canada, and the United Kingdom. More marketplaces will be considered in the near future.
How does RestockPro Compliment the Inventory Tools in the Seller Central dashboard?
The Amazon Seller Central dashboard offers tons of vital details about your listings and sales. However, if you’re interested in increasing your profits, you should add it to outside information. This includes costs, supplies, stock levels, and lead times.
This approach helps you keep a clear perspective and optimize your business.
3. Seller Legend
What is Seller Legend?
Seller legend was created in 2015 by a group of ambitious Amazon MWS API developers. They wanted to create software that can help novice FBA sellers compete with more experienced sellers.
If you use Seller Legend correctly, you can manage your Amazon Central Seller data in one place.
After undergoing extensive testing, the software went live in 2016.
The company stands behind their product. This is great news for Amazon FBA sellers.
Unfortunately, there are so many scams taking place these days. It’s nice to know that you can turn to reliable software like Seller Legend. It has a solid reputation for producing positive results.
It’s also important for me to mention that the company is dedicated to making improvements to the software. This means that the software will help you stay on top of your game.
Seller Legend has received high praise from industry insiders and FBA sellers. Let’s take a closer look at it.
How Will Seller Legend Help You?
Seller Legend is well-known for its impressive features and versatility. It’s ideal for novice FBA sellers, intermediate FBA sellers, and advanced FBA sellers. Let’s check out the pros.
- You can customize it
- It uses real-time data
- It can help you visualize data
- It’s easy to master
Seller Legend Is Customizable
You can customize the software. This makes it great for all types of businesses. Simply set your personal preferences and concentrate on the information pertinent to your business.
Great for Visualizing Data
You may be a visual learner. If so, this software can help you organize your data. This will help you make decisions about buying new inventory, shipping, and sourcing
How is the data presented? The software can create charts, detailed graphs, and other visual representations of data.
Smart Automation Saves Time
This software will save you precious energy and time with analytical tasks. The automation for management and reporting activities will become easier. At the end of the day, you will be able to run your business in a more efficient manner.
Seller Legend 'Almost' Real-Time Data for Accuracy
It’s important for you to create strategies that complement current data. This will help your business grow.
Unlike similar software, Seller Legend uses the latest data. You can call this “Real-Time Data”. This will put you in a position to keep up with the latest trends.
Is Seller Legend perfect? No, it’s not perfect. Seller Legend offers many advantages that you cannot afford to turn down.
However, Seller Legend does have its cons.
- Adjusting the software will take some time
- Due to Amazon restrictions, some features are not available
If you are a new user, you may have to deal with the learning curve. However, you will be able to master this software within a few days or a few weeks.
If you need extra help, you can find tutorials and videos online. They will help you learn how to use Seller Legend like a polished professional.
Does not Have Some Features due to Amazon Restrictions
The developers of the software are transparent about the lacking features. They did not include features such as Keyword Rankings and Review Tracking. These features violate Amazon’s policies. It doesn’t take a rocket scientist to see that your business will suffer if you do not take heed to Amazon’s Terms of Service.
When you begin to use the software, you may notice other pros and cons that are not listed in this article.
Now it’s time for us to go over the features.
- The Dashboards
- The Sales and Revenue Marketing Section
- Order Management
- Inventory Management
- Customer Management
- The Product Management
- Precise Pay-Per-Click Performance Tracking
It’s important for you to understand that these features will work better for some businesses. It is not the perfect solution for every business. Keeping your business goals in mind will help you decide if the software is suitable for your operation.
Seller Legend comes with three unique dashboards that will assist you with managing your Seller Central data.
- Market dashboard
- Product dashboard
- Customer dashboard
Let’s start off with checking out the customer dashboard.
You will find a variety of widgets on each dashboard. These widgets aim at addressing Key Performance Indicators. Having a full understanding of the KPI will help you determine new targets for your business.
With the marketplace dashboard, you can see your sales, revenue, and estimated profits. You can view these numbers over various periods. There’s no need for you to waste your time going through the stats for months or years.
You can create impressive sales history charts. This will help you analyze revenue and costs. When you have this data at hand, you can compare operating costs.
If you decide to use the product dashboard feature, you can keep track of vital performance metrics. If you’re like me, you take these metrics seriously.
This includes the following:
- Refund rates
If you prefer to use the build a sales history chart via product dashboard, you can see what’s being sold in the market. You will also be able to see their profit potential. Seeing these things can give you an edge over your competition.
Before we go any further, I want to highlight the customer dashboard. This dashboard will uncover your customer’s spending behavior and their perception of your products.
The three unique dashboards in the Seller Legend software can help you become a successful FBA seller. However, there are some other features that I would like to cover.
Uncover New Markets
Search for new trends by monitoring your sales in the marketplace. Seller legend breaks down the data so that you can get a full detailed report based on things like the Amazon Payout, SKU, brand, and much more.
If you want to manage orders like a pro, you can use Seller Legend to see pending orders and pass orders in full detail. This includes promotional discounts and coupon codes. You can also see the statistics on your return items.
Inventory Management and Forecasting
With Seller Legend by your side, you will be in a better position to manage your inventory. You can track how much inventory you are selling, and you will also be able to track how much inventory you have left.
This feature would help you determine when it's time for you to stock new inventory. As you can see, you can tailor the software to meet your business standards.
Clear Customer Management
Seller Legend can help you learn more about your prospective customer’s behavior. It will keep a record of vital metrics like customer cross-sell, customer lifetime value, etc.
Proper Product Management
With the proper product management element in play, you can create realistic statistics about your iTunes, your position in the market, and the cost of goods.
PPC Performance Tracking
It's a pleasant surprise to see that seller legend offers PPC performance tracking. This nice feature can help you manage your pay-per-click campaigns and make improvements to your digital marketing sales strategy.
How much does Seller Legend Cost?
I don’t mind discussing the software's price. As a potential customer, I know that the price may push you towards getting the software, or it may push you away.
Seller Legend is not the software that you can get with a one-time purchase. It is available to FBA sellers via subscription. For a modest monthly fee, you will be getting direct access to Seller Legend.
So, is imperative for you to make sure that the software offers the benefits you are looking for.
What are the Seller Legend Pricing Points?
The software developer offers several different subscription plans. Each plan has different benefits.
Is it Safe to use Seller Legend?
It's not unusual for FDA sellers to ask this question. When it comes to safety, the creator of the software has publicly stated that the software is safe for sellers to use.
The software uses Amazon's Elastic Cloud Computing service. This ensures that you will get secured server storage.
Many online security experts have stated that Seller Legend has spared no expense when it comes to making sure that software offers optimum security for their customers.
Will Seller Legend help my Business?
In my humble opinion, I believe that Seller Legend will help you sell more products. It is working well for me and thousands of other FDA sellers. There's no reason why it would not be able to work well for you.
Seller Legend’s subscription price is inexpensive. This awesome software will help you gain vital insight into your business vertical. The software's layout is simple and easy to master. It comes in handy when you need to create graphics that cover your sales.
If you are unsure about the software, you can always take advantage of the free trial. During the free trial, you will be able to determine if the software will be beneficial for your business.
If you have been looking for a way to have a competitive edge in your niche, you should consider taking advantage of Seller Legend. It offers many distinct advantages that can help you increase your profits within a short period of time.
For example, it would help you organize your data and concise categories. This will help you expand your business with ease.