What is SKU? What is a Stock Keeping Unit?
SKU (Stock Keeping Unit) is an identification code used to track inventory and help suppliers manage their products efficiently. SKU codes consist of alphanumeric characters, usually represented as barcodes that can be scanned on product labels. These codes not only represent price, product information, and manufacturer but also facilitate point-of-sale management. SKUs apply not only to tangible products but also to chargeable services such as repair times in an auto repair shop or warranty packages.
Key Points:
- Inventory Tracking: SKU is a scannable code that helps suppliers easily track inventory.
- Appears as Barcodes or QR Codes: SKUs are typically displayed as barcodes or QR codes with alphanumeric characters.
- Applies to Services: SKUs are not only for physical products but also for services, repair times, and warranties.
Benefits of Using SKU
In the world of inventory management, SKU (Stock Keeping Unit) plays a crucial role, providing significant benefits to businesses. Let’s explore these benefits in detail:
- Optimizing Ordering Processes SKU codes simplify ordering from suppliers by creating a "common language" between you and the supplier. This ensures accurate product ordering, improves efficiency, and enhances communication between inventory management and supplier systems.
- Simplifying E-Commerce and Multi-Channel Integration In modern business environments, selling across various channels can be challenging. SKUs act as a "bridge" between systems, ensuring accurate product delivery and preventing confusion among product variants. This creates a seamless shopping experience and builds customer trust.
- Keeping Systems Updated Consistently SKU codes help automate inventory updates across multiple systems, ensuring consistent and accurate information. This saves time and prevents errors by maintaining up-to-date inventory details across all platforms.
- Accelerating Sales Processes SKUs provide a unique code for quick and accurate ordering, reducing processing time and minimizing sales errors. This creates a professional and efficient shopping experience for customers.
- Handling Terminology Differences Across Systems SKUs help overcome differences in product descriptions between systems by providing a unique identifier. This ensures accurate and consistent product information across various sales channels.
Where are SKUs Used?
SKU codes are crucial for managing and tracking products effectively in various settings:
- Retail Stores: SKUs help managers know which products are in stock and when to reorder, ensuring adequate inventory to meet customer demand.
- Warehouses: SKUs identify product locations, aiding warehouse staff in locating items quickly and reducing errors.
- Product Catalogs: SKUs facilitate easy identification and management of products, useful for inventory checks or reordering.
- E-Commerce Stores: SKUs ensure product information is synchronized across different systems, streamlining sales and delivery processes.
- Third-Party Fulfillment Centers: SKUs help these centers manage inventory for multiple businesses, ensuring accurate order fulfillment.
How are SKUs Created?
SKUs can be created from two main sources:
- For Products Manufactured by Others: Products from other companies may have pre-assigned barcodes and numbers such as GTINs, UPCs, or EANs. These codes can be used directly as SKUs for inventory management.
- For Products Manufactured by Your Company: Creating unique SKUs for each product you manufacture is important. You can purchase UPCs or create your own SKUs for efficient product tracking.
Difference Between SKU and UPC
While SKUs are often displayed as barcodes, they serve different purposes from UPCs. SKUs are used internally for inventory tracking, while UPCs (Universal Product Codes) are used for identifying products across various retail locations. UPCs typically consist of numbers, while SKUs can include alphanumeric strings of varying lengths.
Other Unique Product Identifier Types
Besides SKUs, there are other product identifiers like GTIN (Global Trade Item Number) and MPN (Manufacturer Part Number):
- GTIN: Developed by the international organization GS1, GTINs are 13-digit codes used globally to identify products and services, including ISBN (International Standard Book Number), UPC (Universal Product Code), EAN (European Article Number), and JAN (Japanese Article Number).
- MPN: A unique alphanumeric code issued by manufacturers to identify individual products. MPNs are optional in product data but crucial when GTINs are not available, especially for platforms like Amazon.
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Understanding Drives Eimskip's Fulfillment Service Strengths
Eimskip's Fulfillment services go beyond just providing standard warehousing and order processing. We create genuine value for businesses by understanding that each customer has unique needs. Therefore, Eimskip strives to personalize each service, offering the most effective and cost-efficient solutions.
With strategically located warehouses in Ho Chi Minh City (District 12) and Binh Duong, along with over 10 years of experience in B2B warehousing operations, we are committed to supporting businesses with fast and accurate order processing, ensuring delivery to customers in the shortest time possible.
Eimskip Fulfillment Warehouse Capabilities
- Inventory Storage: Goods are stored at Eimskip's strategic warehouses in Ho Chi Minh City and Binh Duong, with a modern management system that ensures safety and easy access when needed.
- Order Processing: Eimskip offers comprehensive services including label printing, barcode tagging, packaging, and other necessary actions to ensure orders are processed quickly and accurately.
- Goods Transportation: Eimskip's optimized transportation system ensures that goods are delivered to customers as quickly as possible, on time, and with quality assurance.
- Returns Handling: We ensure a smooth and hassle-free returns process, enhancing the shopping experience and maintaining customer trust.
Eimskip Fulfillment Center Address
- Address: Eimskip Fulfillment Center, No. 47, TL 47 Street, Thạnh Lộc Ward, District 12, Ho Chi Minh City.
- Hotline: 028 6264 6380
Eimskip's Fulfillment services not only help businesses save on costs and time but also enhance reputation and customer experience, creating a competitive edge in the market.
