A SKU (stock keeping unit) is a tool used in the field of inventory management as a specific product identifier. It is a number or term that is assigned to individual retail products to identify price, product options, and manufacturer. Different retail locations and sources of sale use different SKUs to identify products. Unlike UPC codes, these are not universal or standardized, but in house specific. SKUs keep track of inventory and each variant of a product has a unique SKU.
You need products when running a business and you need a place to hold those products which is where warehousing comes into the picture. Warehousing is a skill that is important because it allows you to store your products in a secure place and to keep up with inventory, increasing or decreasing depending on demand. To help you on your journey of learning how to warehouse efficiently, here are 3 things to consider.
Step one after figuring out what your business will provide is learning how and where to source your product or products. Before we get too technical, let’s explain why where and how a product is is sourced is important for a business.
When running a business you most likely won’t have all you’ll need in order to complete a project. You get any supplies or services you’ll need from vendors and vendor management is managing the vast amount of vendors you’ll gain. This is another important skill to learn when running a business, so to help you here are 3 tips to keep in mind when managing vendors.