Stock Keeping Unit (SKU)
A Stock Keeping Unit (SKU) is a unique code that identifies each distinct product and service for sale. SKUs are used by retailers to track inventory levels, sales, and product details.
Problem it addresses
Managing inventory efficiently and accurately tracking product sales can be complex, especially for businesses with a wide range of products.
How it helps
SKUs enable businesses to monitor stock levels in real-time, optimize inventory management, and analyze sales trends. They help in making informed purchasing and marketing decisions, reducing excess inventory, and improving customer satisfaction by ensuring product availability.