Business

Benefits of SKUs in Retail and Distributor Business

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Tuesday, October 31, 2023

SKU (Stock Keeping Unit) adalah suatu sistem identifikasi yang penting dalam dunia bisnis, terutama dalam industri retail dan distribusi. SKU adalah kode unik yang digunakan untuk mengidentifikasi setiap produk dalam stok, mempermudah pelacakan, manajemen persediaan, dan penjualan. Dalam artikel ini, kami akan membahas fungsi dan manfaat SKU dalam bisnis retail dan distributor, serta bagaimana sistem ini membantu meningkatkan efisiensi operasional dan profitabilitas.

SKU (Stock Keeping Unit) memiliki berbagai fungsi penting dalam bisnis retail dan distribusi. Berikut ini adalah beberapa fungsi nya, yaitu:

1. Product Identification

SKU serves as a unique identification tool for each product in stock. Companies can easily identify products, avoid confusion, and make inventory management easier.

2. Inventory Management

One of the main functions of SKUs is to help companies manage inventory better. Enables companies to track inventory quantities, monitor stock movements, and optimize product stocking.

3. Sales Tracking

SKUs help companies track individual product sales. With sales data linked to SKUs, companies can understand sales trends, the most popular products, and the products that are not selling well. This information is invaluable in planning inventory and promotions.

4. Price Adjustments

Allows companies to easily make price adjustments. With related sales data, companies can identify products that need price adjustments and respond to market changes more quickly.

5. Product Performance Analysis

SKUs allow companies to analyze the performance of each product separately. This helps companies focus on products that generate the best profits and take action to improve the performance of products that may be underperforming.

The important benefits of SKUs in the retail and distributor business and how the use of SKUs can optimize operations and generate profits, namely:

1. Better Inventory Management

One of the main benefits of SKUs in retail and distributor businesses is their ability to improve inventory management. Allows companies to monitor each product individually, including quantities on hand, sales levels, and required reorder times. With this information, businesses can avoid excess inventory or inventory shortages that can disrupt operational flow.

2. Deeper Sales Analysis

SKUs also allow businesses to conduct more in-depth sales analysis. By uniquely identifying each product, companies can see sales trends, the most popular products, and the less popular products. This allows them to make better decisions in terms of stock, promotions and product planning.

3. Product Performance Tracking

In the retail and distribution business, not all products have the same performance. SKUs allow companies to track the performance of each product separately. This allows companies to focus on products that generate the best profits and take action to optimize products that may not be performing well.

4. More Efficient Price Adjustments

Makes it easier to adjust prices more efficiently. Companies can easily identify which products require price adjustments, based on sales and demand data. This helps them to adjust prices quickly and respond to changes in the market more efficiently.

5. Improved Customer Service

SKUs also have a positive impact on customer service. Companies can provide customers with more accurate information about product availability and delivery times. This helps meet customer expectations and increase customer satisfaction.

6. Time and Resource Savings

In the retail and distribution business, time is money. SKUs help save time and resources by making product identification and inventory grouping easier. This makes the delivery and stock checking process faster and more efficient.

7. Reduction of Human Error

With SKUs, the stock checking and shipping process becomes more automated, reducing the risk of human error in recording and shipping products.

8. Facilitate Stock Location Management

In retail and distribution businesses, there are often many stock storage locations. SKUs facilitate stock location management by allowing companies to track where each product is located. This makes it easier to find and retrieve the necessary stock.

9. Increased Employee Productivity

With SKUs, employees have easier access to information about products and inventory. This can increase employee productivity, as they can quickly find the information they need without having to spend time searching for the right product.

10. Better Decision Making

Helping companies make better decisions. The data provided by SKUs allows management to make decisions that are based on facts and solid analysis. This helps improve business strategy and long-term profitability.

Conclusion

In conclusion, SKUs are an invaluable tool in retail and distribution businesses. Companies can manage inventory better, analyze sales in more depth, and provide better customer service such as helping reduce human error, increasing productivity, and enabling better decision making. Consult your business and get a free demo for FREE!

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