diff --git a/plugins/woocommerce/changelog/issue-37835 b/plugins/woocommerce/changelog/issue-37835
new file mode 100644
index 00000000000..5712552039f
--- /dev/null
+++ b/plugins/woocommerce/changelog/issue-37835
@@ -0,0 +1,4 @@
+Significance: minor
+Type: enhancement
+
+Design enhancements for the Inventory tab.
diff --git a/plugins/woocommerce/client/legacy/css/admin.scss b/plugins/woocommerce/client/legacy/css/admin.scss
index 7253c2d1d2a..ed05f5b7f76 100644
--- a/plugins/woocommerce/client/legacy/css/admin.scss
+++ b/plugins/woocommerce/client/legacy/css/admin.scss
@@ -947,8 +947,13 @@
 #inventory_product_data .notice,
 #variable_product_options .notice {
 	display: flex;
-	margin: 10px;
 	background-color: #ffffff;
+	border-color: #eee;
+	border-width: 1px 0px 0px 0px;
+	border-style: solid;
+	align-items: center;
+	box-shadow: 0 0 0;
+	margin: 5px 0 0;
 	> p {
 		a {
 			text-decoration: none;
@@ -958,6 +963,10 @@
 	> p:not(:last-child) {
 		width: 85%;
 	}
+	> img.info-icon {
+		width: 1em;
+		filter: brightness(50%);
+	}
 	.woocommerce-add-variation-price-container {
 		width: 15%;
 		display: flex;
@@ -4938,6 +4947,11 @@ img.help_tip {
 		float: left;
 		width: 80%;
 
+		._backorders_field .wc-radios li {
+			display: block;
+			padding: 0 0 2px;
+		}
+
 		.wc-radios {
 			display: block;
 			float: left;
diff --git a/plugins/woocommerce/includes/admin/meta-boxes/views/html-product-data-inventory.php b/plugins/woocommerce/includes/admin/meta-boxes/views/html-product-data-inventory.php
index 7b4c9674778..6edca596679 100644
--- a/plugins/woocommerce/includes/admin/meta-boxes/views/html-product-data-inventory.php
+++ b/plugins/woocommerce/includes/admin/meta-boxes/views/html-product-data-inventory.php
@@ -10,13 +10,10 @@ if ( ! defined( 'ABSPATH' ) ) {
 }
 ?>
 <div id="inventory_product_data" class="panel woocommerce_options_panel hidden">
-	<div class="inline notice woocommerce-message show_if_variable">
-		<p>
-			<?php echo esc_html_e( 'Settings below apply to all variations without manual stock management enabled.', 'woocommerce' ); ?> <a target="_blank" href="https://woocommerce.com/document/variable-product/"><?php esc_html_e( 'Learn more', 'woocommerce' ); ?></a>
-		</p>
-	</div>
 	<div class="options_group">
 		<?php
+		$info_img_url = WC_ADMIN_IMAGES_FOLDER_URL . '/icons/info.svg';
+
 		if ( wc_product_sku_enabled() ) {
 			woocommerce_wp_text_input(
 				array(
@@ -31,6 +28,15 @@ if ( ! defined( 'ABSPATH' ) ) {
 
 		do_action( 'woocommerce_product_options_sku' );
 
+		?>
+		<div class="inline notice woocommerce-message show_if_variable">
+			<img class="info-icon" src="<?php echo esc_url( $info_img_url ); ?>" />
+			<p>
+				<?php echo esc_html_e( 'Settings below apply to all variations without manual stock management enabled. ', 'woocommerce' ); ?> <a target="_blank" href="https://woocommerce.com/document/variable-product/"><?php esc_html_e( 'Learn more', 'woocommerce' ); ?></a>
+			</p>
+		</div>
+		<?php
+
 		if ( 'yes' === get_option( 'woocommerce_manage_stock' ) ) {
 
 			woocommerce_wp_checkbox(
@@ -69,8 +75,6 @@ if ( ! defined( 'ABSPATH' ) ) {
 				'value'       => $product_object->get_backorders( 'edit' ),
 				'label'       => __( 'Allow backorders?', 'woocommerce' ),
 				'options'     => wc_get_product_backorder_options(),
-				'desc_tip'    => true,
-				'description' => __( 'If managing stock, this controls whether or not backorders are allowed. If enabled, stock quantity can go below 0.', 'woocommerce' ),
 			);
 
 			/**