SKU numbers are alphanumeric codes that help retailers track inventory by providing information on key product characteristics. They are unique to each business and help track availability, facilitate inventory counts and replenishment. Using SKUs and a point-of-sale system allows for efficient tracking of inventory, quick checkout processes and reduced errors versus manual tracking. Properly implementing an SKU system improves organization, prevents loss and helps ensure the right products are available for customers.

1. SKU NUMBERS:
LEARN EVERYTHING YOU EVER WANTED TO KNOW
ABOUT STOCK KEEPING UNIT

2. DEALING WITH A MASSIVE INVENTORY OF
MULTIPLE PRODUCTS?
Whether you deal with a massive inventory of multiple products regularly in
your brick and mortar store or sell a specialised product online, chances are
that you already have an SKU system in place.
SKU numbers are a common yet important part of every retail business that
help to keep track of the store’s inventory. To get a better understanding of
how SKU works, let’s first understand what exactly SKU is and what it is used
for.

3. WHAT IS SKU?
Pronounced as skew, SKU stands for Stock Keeping Unit and is an
alphanumeric code, usually 6-8 characters long that helps to track a store’s
inventory by providing information on key characteristics of a product such
as colour, style, size, type, brand etc. SKU numbers can be created
manually, or in your inventory management or POS software.
SKUs aren’t common like UPCs. They are meant to be unique to your
business and can be customised as per your requirements.

4. SKU NUMBERS V/S UPC NUMBERS V/S
SERIAL NUMBERS
There are different types of numbers printed on
products and associated with inventory keeping. It
can be difficult to tell what makes a number
different from others as for a layman, everything is
barcode.
Apart from SKUs, numbers that are important in
inventory keeping are UPCs and serial numbers.

5. UPC stands for Universal Product Code. It is a twelve-digit number that runs
at the bottom of the barcode and is universal. UPC is not unique to a store,
which means if two companies are selling the same product, they will have
the same UPC, but different SKUs.
Serial numbers are unique to specific products and are generally used in
electronic products. Warranty information and ownership information of an
item can be tracked through serial numbers.

6. HOW TO USE SKUS TO BOOST YOUR BUSINESS
Track Inventory: To ensure your inventory is accurately tracked overall, SKUs,
which track product traits, are used. The availability of products can easily
be figured out in a store that has stock keeping units.
Easy stocktakes: To make sure stock levels of the inventory management
system matches the stock levels of the store’s warehouse, stocktakes should
be done at regular intervals. Every item you’re selling has its own unique
code. Organising and identifying products using SKUs make for very
straightforward fixing of the stock levels.

7. Replenish inventory: Managing large quantities of inventory manually
seems like a difficult task for business owners. However, including an SKU for
every product variation helps to know the quantity of products in hand.
Handling inventory with SKUs implies that the level of inventory will never get
out of stock and you will always know when to restock.
Now that you are well-aware of how SKUs can be used to boost business
productivity, let’s take a look at why SKUs are important for store owners.

8.  With the help of SKU numbers, store owners can
plan and organise their products in a way that
helps staff and shoppers to find the product in
need easily. Without SKU numbers, you can lose
your product track and find it confusing to search
the product at the correct time. Also, if you fail to
provide your shopper with the product they are
looking for, the probability is you will lose your sale
as well.
LET’S TAKE A LOOK AT WHY SKUS ARE
IMPORTANT FOR STORE OWNERS

9.  Tracking products using SKU numbers in
a Point-of-Sale system allows for a quick
and effective checkout process.
The reason being, it makes the checkout
and customer service task quick and error-
free.

10.  Non-availability of SKUs increases the chances
of human errors and situations related to shop-
lifting and employee theft. Adding stock
keeping unit numbers to all items eliminates
such occurrences and prevents retailer from
lost profit situations. Using SKU numbers along
with a compatible POS system minimises the
chances of errors.
POS Bundle

11. SKUs help you track, map and organise an inventory which in turn improves
the efficiency of your brick and mortar store. With SKUs, you can also
eliminate the amount of time your staff takes in searching the inventory.
To ensure a smooth and quick checkout process, it is essential to have a
portable barcode scanner. Online POS hardware retailers in Australia offer
a wide range of barcode scanners from reputed brands such as Zebra
Is2208. These scanners are lightweight in form and provide fast and reliable
scanning option to iPhone/ iPad compatible scanning devices.
THE BOTTOM LINE

12. REACH US
POS Plaza
PO Box 7921 Baulkham Hills BC
NSW 2153
sales@posplaza.com.au
1300 11 58 08
https://www.posplaza.com.au/