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Stock Keeping Unit

Risk

A scannable barcode, also spoken as a stock-keeping unit (SKU), is printed on product labels in retail stores.

The label allows vendors to trace inventory movement in real time.

An alphanumeric combination of eight more or less characters frame the SKU.

The characters are a designed code that helps to keep track of the product’s price, product details, and manufacturer. Intangible but billable products, like units of repair time at an auto body shop or warranties, are also assigned SKUs.

SKUs track inventory levels by retailers, catalogues, e-commerce suppliers, service providers, warehouses, and merchandise fulfilment centres.

anagers can easily detect which products must be restocked thanks to scannable SKUs and a POS system.

When a customer purchases an item at a POS, the SKU is scanned, and so the POS system removes the item from inventory while also recording other information just like the damage.

Although organizations may incorporate model numbers into SKUs, SKUs mustn’t be mistaken for model numbers. SKUs allow customers to match the features of comparable items.

When a consumer buys a particular DVD, as an example, online retailers may show comparable movies purchased by other customers with SKU data.

This strategy may prompt the customer to make subsequent purchases, resulting in increased income for the corporation. SKUs also enable the gathering of sales data. supported by the scanned SKUs and POS data, a store may identify which items are selling well and which don’t seem to be the customer’s preference.

 

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