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Question
Explain the following term with proper example:
SKU
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Solution
Stock Keeping Unit (SKU) code
(a) All items in the inventory is to be identified with a unique code which signifies certain aspects of the item.
(b) It can be colour, size, weight or any other characteristics that is of importance in its use.
(c) The SKU code can be a combination of alpha and numeric.
(d) SKU is the very basic unit for data collection and further manipulation for deriving meaningful statistics and decision making.
(e) Bar Codes and RFID (Radio Frequency Identification tags are used in tracking etc. using SKU.
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