Set up your inventory correctly
Set up your inventory correctly
Reasons to download this tool:
- It makes stock availability easy to determine.
- It makes your products easier to find and reference.
- It will help you identify your most profitable products.
What is an SKU?
SKU stands for Stock Keeping Unit. SKUs are also known as the product code and they are used to identify stock. Stock availability is easier to determine when products have SKUs. If you are selling products it is important to set up your inventory correctly and one of the most, if not the most important, part of this setup is the product SKU.
Examples of key uses for an SKU:
Track inventory: Product variations can be easily tracked using a SKU system to determine stock availability.
Identify shrinkage: Damaged or missing items can occur anywhere along the supply chain, a solid SKU categorization enables stock transparency.
Replenish inventory: Managing inventory with SKY means you can keep better track of your inventory levels, setting reorder points indicating when a new purchase order needs to be made.
Identify most profitable products: Tracking product variants with SKUs helps you pinpoint your best sellers, as well as the products that are underperforming.To help you implement SKU best practices within your inventory system, we’ve built an SKU generator for you!
For Business Type/s: Wholesale, Retail
Best For: Beers, Wine & Spirits, Apparel, Jewelry, Toys, Electronics
…the answer to many inventory and accounting challenges I faced with a slightly complicated type of product…Now I am able to quite easily control the inventory of the packages even if the item is sold individually or in multiple other packages on the website.
