Jungle Scout Inventory Manager - Comprehensive Tutorial

Jungle Scout Inventory Manager: Comprehensive Guide and Review

Ever wondered how to supercharge your FBA profit analysis in a flash?

Buckle up and get ready to discover the uncanny power of Jungle Scout Inventory Manager!

Hi there, I'm sure we have met before.

But in case we haven't, it's Vova Even, an active Amazon seller since 2016. 

I also share tutorials, hacks, and trade secrets on YouTube and Udemy.

My sole aim is to help new and advanced Amazon FBA sellers make more money while growing consistently and saving all they can! 

As you'd already know, Jungle Scout as established itself as a provider of top-notch tools for Amazon sellers over the years. 

And today, I would like to showcase one of its most valuable offerings – the Jungle Scout Inventory Manager.

You're about to discover how the tool has been instrumental for the sellers in doing their FBA profit analysis in a flash! 

But before getting right into it, here's the link to my YouTube video, which pretty much sums up everything we're going to talk about in this blog. 

Don't forget to check it out, and of course, enjoy! With me Ed the man from Jungle Scout.

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How To Master Inventory Management with Jungle Scout

Product Costs

Before we get into Inventory Management, let me walk you through Manage Products because you need to plug in some information for good analytics. 

Starting with Product costs, once you decide to launch your products on Amazon, you'll see them in a tabular form under the respective section.

Then, Jungle Scout will need you to fill in the data about how much you spend when buying from your supplier. 

The effective date of a product cost on Amazon can either be the date of its launch or a later date if the price changes due to a new order with a supplier. 

So basically, the effective date is determined by the date you set in the system.

Once you add the effective date, it's time for you to fill in the cost details, i.e., how much money you pay per unit. 

While most people combine the two costs as just the cost of goods, you may even add the shipping cost per unit if you wish to keep track of both separately. 

Then, it's time to add Miscellaneous costs, which can include things such as royalty fees, the cost of product photography, and any other expenses related to creating, marketing, and selling your products. 

That's about it for the Product Costs.

By accurately entering all of your product and miscellaneous costs into Amazon, you're providing Jungle Scout with the necessary information to generate accurate profitability analytics.

This will give you a clear picture of your expenses and incredibly help you with making informed decisions about your business on Amazon.

Product Settings

The product settings feature lets you specify the information, such as the lead time for your products and whether you prefer to opt out of receiving review requests for specific products. 

Precisely, when you scroll down the Product Settings, you can say whether the product is active in all of Jungle Scout's tools or not. 

In case you don't already know, lead time is the time that elapses from when an order for a product is placed with a supplier to when the product becomes available for sale on Amazon. 

Experienced sellers understand that there are various stages involved between placing an order with a supplier and the product becoming available for sale on Amazon, such as shipping to the warehouse and Amazon's inspection process.

These stages are all taken into account when calculating the lead time.

With Jungle Scout, it's recommended to be conservative and allow for some extra time in case of potential product delays.

This way, when you receive forecasts for when to order your next batch of products, you'll be able to place the order in time and, of course, receive them. 

Plus, you may also specify the number of days of supply that you typically order at one time. It's entirely up to you; simply let Jungle Scout know your preferences. 

This way, when you receive their analysis, it will be tailored to your specific needs. Sounds pretty cool, right? We bet! 

Inventory Manager

Once you have set up your prices and lead times, it's about time you jump to the Inventory Manager.

With this tool, you can easily keep track of your inventory levels and costs. In fact, it allows you to see the amount of a particular product in stock on Amazon and the associated price based on the cost of goods information that you provided.

Then comes the Reorder Cost. Suppose you wanted to place another order for 180 days' worth of supply, so this feature will show you what that would cost you. 

And then, based on your sales history, Jungle Scout's Inventory Manager can even estimate how much profit you could make from the following order from your supplier.

However, it's important to note that all this depends on you giving them accurate information about your own costs. 

But what I really like about this is that it gives you an estimate of your real-time profit, which I believe is fantastic! 

Let's face it - investing in huge orders where you have to spend thousands of dollars all at once is scary. But, estimating the profits beforehand is the easy way out – it lands you on a rational decision. 

Another thing about the Inventory Manager is that the time frame you choose affects the relevance of the information displayed. To clear it up, suppose you choose a 30-day time frame. In this case, the tool will calculate the data based on the past 30 days. 

Likewise, if you change the time frame to 90 days, the data will be recalculated accordingly.

For example, if the tool shows that you are overstocked on a particular product based on the 30-day time frame, this conclusion may change if you extend the time frame to 90 days. 

The longer the time frame, the more accurate the information will be. But, if you are looking at a shorter time frame, the tool may believe that you have more in stock than you actually do. 

Next up, the Date to Order tells us precisely the date when we should place our order with the supplier based on the lead time. Not just that, the Inventory Manager tool also indicates an order quantity that will ensure that you stay in stock.

And the best part?

Currently, they're in the process of updating the Inventory Manager tool to enable sellers to track their inventory across multiple locations, not just Amazon's warehouses.

This means Jungle Scout knows that many sellers receive their products in different locations and would like to have a comprehensive view of their inventory.

I personally can't wait for the upgrade to come in! 

The Bottom Line

So, that's about it for the Jungle Scout's Inventory Manager tool.

Hopefully, you know how it helps track inventory levels and costs, as well as indicates the quantity of an order needed to stay in stock on Amazon.

For most of the sellers out there, including me, it's a real lifesaver! 

Alternatives to this tool are Sellerboard and SoStocked.

And before we end the blog, I have great news in store for you – many updates to the tool are coming down the pipeline soon! So, let's all look forward to a great time selling on Amazon. 

Yours, 

Vova :) 

P.S - Want to learn how to use ALL the tools of Jungle Scout?

Here’s a detailed video with Ed the man from JS, which covers all the tools!