Last updated August 14, 2023
What does SKU stand for?
SKU stands for Stock Keeping Unit. It is a unique identifier for a product that is used in inventory management.
What does SKU mean?
SKUs are used to track inventory levels, sales, and profitability. They are a way to keep track of all the different variations of a product, such as size, color, and style. For example, if a store sells a shirt in three different sizes and four different colors, they would have 12 different SKUs for that particular shirt.
What do you use SKU for?
SKUs are used for a variety of purposes in . They help businesses keep track of their inventory levels, which can help prevent overstocking or understocking of products. SKUs also help businesses track sales data, which can be used to forecast future demand and adjust inventory levels accordingly. Additionally, SKUs can be used to track profitability, as businesses can analyze which products are selling well and which ones are not.
SKUs are usually created by combining different attributes of a product, such as size, color, and style. For example, if a company sells a shirt in two sizes and three colors, they would have six SKUs for that shirt (S-Red, M-Red, L-Red, S-Blue, M-Blue, L-Blue).
Yes, SKUs can be used for services as well. For example, a company that provides different levels of service (e.g. basic, standard, and premium) could use SKUs to track which services are being sold and at what price point.
A SKU is a unique identifier for a product that is used in inventory management. A UPC (Universal Product Code) is a barcode that is used to scan products at the point of sale. While they serve different purposes, they are often used together to track inventory levels and sales data.