Today I’m going to walk you through how to list items using the web-based program, Inventory Lab. Inventory Lab, in my opinion, blows it’s competition out of the water, and depending on when you are reading this, they will be releasing a fully-integrated re-pricing program soon. So, let’s get started:
First, Login to your I.L account:
Type in your email address and password and then click on the blue Login button. Next, click on the “List” menu option at the top of the screen.
On the “List” page you are going to want to start a “New Batch”, which is code for “New Shipment”. If you already started a shipment and you would like to continue working on it, you’ll see all of your active shipments on the left hand side of the screen (the shipment name and then the number of items in the gray little oval).
Next, a pop-up window will appear and you’ll have some options. The Batch Name is the name of your shipment, how it will appear in both Inventory Lab and on Amazon once it has been submitted (I recommend that you just leave it) Make sure that all of the other options are correct. If you are planning on listing items that will all be sent to Amazon to be Fulfilled by Amazon, be sure to select that option, and then click on the “Create” button.
Now you’re ready to start listing your items. On the upper right-hand side of the page is a text-box that can be used to search for products, already listed on Amazon, that you’d like to sell. If you’d like to sell an item that hasn’t been sold on Amazon yet, you’ll need to do that from Amazon Seller Central. Once you have created a new listing page, then you’ll be able to access it from Inventory Lab. You can either type or scan in(with a USB laser scanner) a barcode number or you can do a product search using keywords. I’m going to enter in the ISBN for a book, I’d like to list:
After I entered the ISBN I was directed to the product listing page, where I can start filling in pertinent information:
In the middle column you’ll want to make sure that all of the information is filled out as best you can. Quantity, Cost Per Unit (which will help you calculated profit here in a minute), the date purchaser and the Supplier (the store you bought the item at). Now, you don’t have to fill out some of this information, but it will be helpful in helping you properly analyze your business once the sales start rolling in.
MSKU is a unique number that’s assigned to each of your items for your reference. Just be aware that 1) your customer may be able to see this number on their invoice and 2) you can’t use the same MSKU on more than one particular item. Inventory Lab will auto-populate one for you, but I recommend that you add some valuable info for your reference later.
We use this code to label our items Inventory Lab Number/Store Abbreviation/ Purchase Price. So, since I bought this book at Savers for $1 I added that information to then end of the MSKU number (SVRS1). If the item is perishable, I’ll add the expiration date before the Store Abbreviation, for example 122016WM5. This would tell me that the item that was bought at Walmart for $5 expires 12/2016.
Make sure that the condition, and condition notes are to your liking, this book is in Used-Very Good condition so I selected that.
On the right-hand side of the screen you are given pricing information that will help you set the price of your item.
The Orangeish colored vertical column shows New Merchant Fulfilled prices, the blue in the middle shows Used Merchant Fulfilled Prices (LN=Like New, VG=Very Good, G=Good, and A=Acceptable), and finally the green column on the far right is the FBA prices, both New and Used.
Based on this information you should be able to select a price for your item. If you still need more information, you can click on one of the 6 icons directly below the vertical columns. The two that we use almost exclusively are the Camel (which represents CamelCamelCamel) and the icon directly to the right which is Keepa. Toy around with these neat resources, they will both give you valuable price and rank history, which can help you price your items competitively and maximize your profits.
Next, type in the List Price of your item, how much you would like to sell it for.
I apologize for this horrible example, for a calculated Net Profit of $.79, I honestly wouldn’t even bother listing this book. Hopefully your inventory yields a much better Net Profit than this. Once you type in your price Inventory Lab will determine your estimated Net per unit and the calculated ROI which stands for Return On Investment.
If you are satisfied with all of the information that you entered click on the Submit & Save button at the bottom of the screen.
This will bring you back to the main listing page so that you can list another item. We use a Dymo LabelWriter which automatically prints out individual barcode labels (which are required for items sold FBA), after I hit the Submit & Save button a label popped out. You can skip this step and print out sheets of labels when the shipment gets to Amazon Seller Central, then you’ll also have the option of paying Amazon to label all of your items for you once they reach the fulfillment center(for a small fee of course).
At the bottom of the page you will see some helpful information about how profitable your shipment is so far.
I’m going to go through this process a few more times to add some more books to our shipment.
I’ve added a few more items and now I’d like to send this shipment off to Amazon Seller Central so that I can finalize it. Next, click on the blue button at the bottom of the screen “Send Products”. This will bring you to the “Send Products” page that will give you a final opportunity to make any changes before moving forward.
From the Send Products page you can print and remove labels among a few other things. If you are satisfied with your shipment, go ahead and click on the blue “Submit” button at the bottom right-hand side of the page.
The Send Product Feeds Pop-up will ask you a final time if your are sure that you want to submit this shipment, just warning you that you wont be able to make changes to it later. Click “Ok”.
Next you are brought to the “FBA Shipping” page, from here you will take the batch that you just finished and will finalize your FBA shipments. As you can see, of the 6 items that we listed 5 of them are going to one fulfillment center and 1 item is going to another (CHA1 & PHL7 under the “Destination” Column). You will need to “Create Selected Shipments” one at a time, I will click on the top shipment (CHA1, Qty5).
This brings up the shipment contents(bottom right) and then also activates the blue “Create Selected Shipment” button at the top of the page. If everything looks good, click on that blue button.
Another Pop-up will ask you if you are ready to send this shipment to your “FBA Shipping Que” (which is in your Amazon Seller Central account on Amazon.com.), click on the blue “OK” button.
As you can see the first shipment is gone and now there is only one left (PHL7, Qty1). Click on the shipment and then on the “Create Selected Shipment” Button at the top of the screen.
Just like before, Click the blue “OK” button verifying that you are ready to send the shipment.
And that’s it, you’ll be directed to the Closed Batches page, which will show you your completed shipment. Now you can go to Amazon Seller Central, select Manage FBA Shipments from the Inventory drop down menu, and finalize you shipment. Here you’ll verify you shipment contents, print labels (if applicable), and then you’ll box your items, purchase postage and ship them off (if you ship UPS you can either schedule a UPS pickup at your home or office, or you can drop them off at any UPS store or official drop off location).
You are really close to getting actionable info to help you take your business to the next level or to start one from scratch.