diff --git a/client/ayon_core/tools/sceneinventory/model.py b/client/ayon_core/tools/sceneinventory/model.py
index 27211165bf..ef5cd04d76 100644
--- a/client/ayon_core/tools/sceneinventory/model.py
+++ b/client/ayon_core/tools/sceneinventory/model.py
@@ -9,6 +9,9 @@ import qtawesome
 from ayon_core.style import get_default_entity_icon_color
 from ayon_core.tools.utils import get_qt_icon
 from ayon_core.tools.utils.lib import format_version
+from ayon_core.pipeline import template_data
+from ayon_core.lib import filter_profiles
+from ayon_core.settings import get_project_settings
 
 ITEM_ID_ROLE = QtCore.Qt.UserRole + 1
 NAME_COLOR_ROLE = QtCore.Qt.UserRole + 2
@@ -128,13 +131,55 @@ class InventoryModel(QtGui.QStandardItemModel):
     def outdated(self, item):
         return item.get("isOutdated", True)
 
+    def _get_repre_info_template_data(self, repre_info):
+        fake_folder_entity = {
+            "name": repre_info.folder_name,
+            "id": repre_info.folder_id,
+            "folderType": repre_info.folder_type,
+            "path": repre_info.folder_path
+        }
+
+        folder_data = template_data.get_folder_template_data(
+            fake_folder_entity,
+            self._controller.get_current_project_name()
+        )
+
+        template_data = {
+            "product": {
+                "name": repre_info.product_name,
+                "type": repre_info.product_type,
+            },
+            "representation": {
+                "name": repre_info.representation_name,
+            }
+        }
+        template_data .update(folder_data)
+        return template_data 
+
     def refresh(self, selected=None):
         """Refresh the model"""
         # for debugging or testing, injecting items from outside
         container_items = self._controller.get_container_items()
 
         self._clear_items()
+        # fetch the label settings
 
+        settings = get_project_settings(
+            self._controller.get_current_project_name())
+
+        selected_profile = filter_profiles(
+            settings["core"]["tools"]["inventory"]["profiles"],
+            {
+                "host_name": self._controller.get_host().name,
+                "task_name": self._controller.get_current_context()["task_name"]
+            },
+            keys_order=["host_name", "task_name"])
+        group_name_template = "{folder[name]}_{product[name]}: ({representation[name]})"
+        if selected_profile is not None:
+            group_name_template = selected_profile["inventory_name_format"]
+        
+
+        items_by_repre_id = {}
         project_names = set()
         repre_ids_by_project = collections.defaultdict(set)
         version_items_by_project = collections.defaultdict(dict)
@@ -248,11 +293,9 @@ class InventoryModel(QtGui.QStandardItemModel):
                     status_name = None
 
                 else:
-                    group_name = "{}_{}: ({})".format(
-                        repre_info.folder_path.rsplit("/")[-1],
-                        repre_info.product_name,
-                        repre_info.representation_name
-                    )
+                    template_data = self._get_repre_info_template_data(repre_info)
+                    group_name = group_name_template.format(**template_data)
+
                     item_icon = valid_item_icon
 
                     version_items = (
diff --git a/client/ayon_core/tools/sceneinventory/models/containers.py b/client/ayon_core/tools/sceneinventory/models/containers.py
index 0e19f381cd..8ed3cfcc93 100644
--- a/client/ayon_core/tools/sceneinventory/models/containers.py
+++ b/client/ayon_core/tools/sceneinventory/models/containers.py
@@ -41,6 +41,7 @@ def representations_parent_ids_qraphql_query():
     folder_field = product_field.add_field("folder")
     folder_field.add_field("id")
     folder_field.add_field("path")
+    folder_field.add_field("folderType")
     return query
 
 
@@ -126,6 +127,8 @@ class RepresentationInfo:
         self,
         folder_id,
         folder_path,
+        folder_name,
+        folder_type,
         product_id,
         product_name,
         product_type,
@@ -136,6 +139,8 @@ class RepresentationInfo:
     ):
         self.folder_id = folder_id
         self.folder_path = folder_path
+        self.folder_name = folder_name
+        self.folder_type = folder_type
         self.product_id = product_id
         self.product_name = product_name
         self.product_type = product_type
@@ -268,6 +273,8 @@ class ContainersModel:
             kwargs = {
                 "folder_id": None,
                 "folder_path": None,
+                "folder_name": None,
+                "folder_type": None,
                 "product_id": None,
                 "product_name": None,
                 "product_type": None,
@@ -283,6 +290,8 @@ class ContainersModel:
             if folder:
                 kwargs["folder_id"] = folder["id"]
                 kwargs["folder_path"] = folder["path"]
+                kwargs["folder_name"] = folder["path"].split("/")[-1]
+                kwargs["folder_type"] = folder["folderType"]
             if product:
                 product_type = product["productType"]
                 product_base_type = product.get("productBaseType")
diff --git a/server/settings/tools.py b/server/settings/tools.py
index da3b4ebff8..03eb47d581 100644
--- a/server/settings/tools.py
+++ b/server/settings/tools.py
@@ -379,6 +379,29 @@ class PublishToolModel(BaseSettingsModel):
     )
 
 
+class InventoryTemplateNameProfile(BaseSettingsModel):
+    _layout = "expanded"
+    host_names: list[str] = SettingsField(
+        title="Host names",
+        default_factory=list
+    )
+    task_name: list[str] = SettingsField(
+        title="Task names",
+        default_factory=list
+    )
+    template: str = SettingsField(
+        title="Template",
+        default_factory=str
+    )
+
+
+class InventoryToolModel(BaseSettingsModel):
+    profiles: list[InventoryTemplateNameProfile] = SettingsField(
+        default_factory=list,
+        title="Inventory label templates"
+    )
+
+
 class GlobalToolsModel(BaseSettingsModel):
     ayon_menu: AYONMenuModel = SettingsField(
         default_factory=AYONMenuModel,
@@ -400,6 +423,10 @@ class GlobalToolsModel(BaseSettingsModel):
         default_factory=PublishToolModel,
         title="Publish"
     )
+    inventory: InventoryToolModel = SettingsField(
+        default_factory=InventoryToolModel,
+        title="Inventory"
+    )
 
 
 DEFAULT_TOOLS_VALUES = {
@@ -690,7 +717,10 @@ DEFAULT_TOOLS_VALUES = {
                 "task_names": [],
                 "template_name": "simpleUnrealTextureHero"
             }
-        ],
-        "comment_minimum_required_chars": 0,
+        ]
+    },
+    "comment_minimum_required_chars": 0,
+    "inventory": {
+       "profiles": []
     }
 }