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Stockkeeping Unit
In inventory management, a stock keeping unit (abbreviated as SKU and pronounced or ) is the unit of measure in which the stocks of a material are managed. Or to put it another way; is a distinct type of item for sale, purchased, or tracked in inventory, such as a product or service, and all attributes associated with the item type that distinguish it from other item types. (For a product, these attributes can include manufacturer, description, material, size, color, packaging, and warranty terms.) When a business records the inventory of its stock, it counts the quantity it has of each unit, or SKU. SKU can also refer to a unique identifier or code, sometimes represented via a barcode for scanning and tracking, that refers to the particular stock keeping unit. These identifiers are not regulated or standardized. When a company receives items from a vendor, it has a choice of maintaining the vendor's SKU or creating its own. This makes them distinct from Global Trade Item Nu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory Management
Field inventory management commonly known as inventory management is the function of understanding the stock mix of a company and the different demands on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable or prescribed level. Inventory management is important for every other business enterprise. Retail supply chain Inventory management in the retail supply chain follows the following sequence: # Request for new stock from stores to head office, # Head office issues purchase orders to the vendor, # Vendor ships the goods, # Warehouse receives the goods, # Warehouse stores and distributes to the stores, # Shops and/or consumers (e.g. wholesale shops) receive the goods, # Goods are sold to customers at the shops. Software applications SaaS inventory management software is a tool to help efficiently manage stock. While the capabilities of applications vary, most i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |