SKU is an acronym for Stock Keeping
Unit. It is a unique identifier for each
product or service in a database. The
main purpose of having a SKU is to be
able to systematically track inventory
or sales.
This concept has been used to run
websites that have a large inventory of
online products as well. The benefits of
doing so are many, below are named a
few.
Benefits of Online SKU Management
- ease of tracking inventory / sales etc
- universally applied concept
- easily adaptable to any business
scenario
- robust if well implemented
SKUs are not always assigned to only
physical items. All companies using the
SKU method have their own way of giving
the numbers based on various corporate
strategies. Successful inventory
management systems give a unique SKU for
each product and also for its variants,
such as different sizes or makes of
product. This facilitates companies to
track whether one variant is selling
better than another variant.
Online SKU Management is thus the most
appropriate choice for organizations
like ecommerce websites to function in
an effective way.
