How can SKUs affect inventory management?
Asked a year ago
Hello, it seems like I'm struggling with managing stock. I'm running out of space and spending a lot more money trying to source warehousing and shipping stock. I was told that I must relook at my inventory management at SKUs. But why SKUs?
Tuesday, April 19, 2022
A Stock Keeping Unit or SKU is a number that is assigned to a product for the purpose of inventory management and ease of tracking. I will give you the importance of SKUs regarding inventory management and you might be able to understand why you need to look at it.
The numerous applications for stock keeping units include:
-locating a particular product
-Inventory management is the process of keeping track of how many of a particular product are available.
-Assisting in the reconciliation of product stock levels
-Detecting inventory shrinkage
-Trying to figure out which items are the most profitable (through analysis)
-Assisting in the identification of product reorder points
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