SKU Number: Everything You Need to Know

If you’ve ever looked at an item and seen numbers on the price tag, you might wonder what those numbers mean. This is an SKU number and it has lots of useful information you should know about.

The Stock Keeping Unit

The initials SKU stand for stock keeping unit. Stock keeping units serve varied purposes. They’re also entirely unique for every single store you visit. You might have heard of something called the UPC number. UPC stands for Universal Product Code.

Like the SKU, the UPC code is located on the item’s tag. This is ready to be read once the item is scanned into the system. The UPC number is created by the manufacturer and is not unique to each store. The UPC can be used to convey information such as the manufacturer’s suggested price.

The SKU is a system that works differently. It has advantages that all retailers can use to help them run their store more efficiently. This includes organizing items more efficiently as well as realizing which items are selling faster and which items are not as popular.

Importance of SKU numbers

Once you know what is sku, you can use it to your advantage. According to Lightspeed, this system should be used by every retailer to help them ensure they are using a modern and highly efficient system.

As a store owner, you should have an internal tracking system. The internal tracking system lets you see where each item lies in the store and allows the employees to look it up. They can help your clients locate anything they want to find and buy in the store using this number.

How to develop an SKU number system

Creating an SKU number system for your business should be done by every modern retailer. In order to get this system in place and ready, you’ll need to follow a few simple steps. The good news? You can design this system any way you like. Most retailers take many categories into consideration.

These include the product department, the location of the item, the store branch, the original supplier, the features such as color and size and then leave room for specific details relevant to their stores such as women’s clothing or pet supplies. That makes it easy to get your items organized and arranged quickly on the shelves.

When using an SKU number, remember a few tips. You can reuse each number. Leave the top numbers for the most important thing about the item to your business, such as the price or the type. It’s also best to avoid starting an SKU number with zero as this can confuse your existing data software system. Using letters to start off can be a lot more helpful. It’s also best to keep things simple. Stick to a few basic categories and you’ll be fine.

Once you know what an SKU number does, you can use it to run your business more efficiently.

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