What is a SKU?
Stock keeping units are a key part of an inventory management system. An SKU refers to a distinct type of item, such as a product or a service. The SKU includes all of the attributes that are associated with that type of item. These include the quantity, type, style, color, and other attributes. Often, a product or service has many SKUs, and a retailer needs to keep track of all of these if he or she wants to accurately manage the inventory.
The SKU is an eight- or twelve-digit alphanumeric code used to identify a particular product in a warehouse. These codes contain information such as color, size, price, brand, and gender. Though they aren’t universal, each SKU is unique. Businesses use SKUs to track inventory, and can even use them to target customers with similar products. A SKU allows a business to track sales and prevent loss.
SKUs help retailers track sales and calculate data by item. With these, they can better manage their inventory and inform their customers. A SKU also helps retailers better organize their inventory management system. Regardless of the type of business, a standardized SKU number will help you achieve your goals. It can save you time and money, and can improve your bottom line. It is important to know what you have on hand, so you can keep the right amount of it in stock.