Stock Keeping Unit (SKU) Listing

A Stock Keeping Unit (SKU) Listing is a document or record in the Inventory Management module of an enterprise system that provides a comprehensive list of all the Stock Keeping Units (SKUs) within an organization's inventory. SKUs are unique codes or identifiers assigned to individual products or items to facilitate inventory tracking and management. The SKU Listing contains essential information about each SKU, allowing for effective inventory control. Here are the details of what a SKU Listing typically contains:

SKU Listing Details:

SKU Code:

• Description: A unique alphanumeric code or identifier assigned to each individual Stock Keeping Unit (SKU).
• Purpose: Uniquely identifies and distinguishes each product or item within the inventory.

Product/Item Name:

• Description: The descriptive name or title of the product or item associated with the SKU.
• Purpose: Provides a clear and human-readable reference to the product.

Description:

• Description: Additional information describing the characteristics, features, or specifications of the product or item.
• Purpose: Offers more detailed information about the SKU for better identification.

Category/Classification:

• Description: The category or classification to which the SKU belongs within the organization's product hierarchy.
• Purpose: Helps in grouping similar products and facilitates organization and navigation.

Brand:

• Description: The brand or manufacturer associated with the SKU.
• Purpose: Indicates the origin or source of the product.

Unit of Measure (UOM):

• Description: The standard unit used to measure the quantity of the SKU (e.g., each, box, pound).
• Purpose: Specifies the measurement unit for accurate inventory tracking and reporting.

Cost per Unit:

• Description: The cost incurred for each unit of the SKU.
• Purpose: Essential for financial reporting, valuation of inventory, and pricing decisions.

Selling Price:

• Description: The price at which the SKU is sold to customers.
• Purpose: Aids in pricing strategies and revenue calculations.

Stock On Hand:

• Description: The current quantity of the SKU available in the organization's inventory.
• Purpose: Provides real-time information about the stock level and availability.

Stock On Order:

• Description: The quantity of the SKU that has been ordered from suppliers but has not yet been received.
• Purpose: Helps in managing upcoming inventory inflow and planning.

Reorder Level:

• Description: The minimum quantity of the SKU that should trigger a reorder.
• Purpose: Assists in proactive inventory management to prevent stockouts.

Supplier Information:

• Description: Details about the primary supplier or vendors associated with the SKU.

Fields:

• Supplier Name
• Supplier Code
• Contact Information
• Purpose: Facilitates communication with suppliers and ensures accurate procurement.

Location/Warehouse:

• Description: The specific location within the organization's premises where the SKU is stored.
• Purpose: Aids in efficient inventory management and retrieval.

Lead Time:

• Description: The time required from placing an order to receiving the SKU in the inventory.
• Purpose: Assists in managing inventory levels based on the time it takes to replenish stock.

Last Updated Date:

• Description: The date when the information for the SKU was last updated in the system.
• Purpose: Provides a timestamp for reference and ensures data accuracy.

Status:

• Description: Indicates the current status of the SKU (e.g., active, discontinued, out of stock).
• Purpose: Helps in identifying the availability and status of each SKU.

SKU Listing Workflow:

Initialization:

The SKU Listing is initiated as a comprehensive record of all SKUs within the organization's inventory.

Data Collection:

Relevant information about each SKU is collected, including SKU code, product name, description, cost, and other details.

Data Entry:

The collected data is entered into the enterprise system, creating or updating records in the SKU Listing.

Verification:

The accuracy of SKU information is verified, ensuring that data is consistent with physical inventory.

Reconciliation:

The SKU Listing is reconciled with other inventory-related documents, such as purchase orders and stock issues.

Updates and Changes:

Any changes or updates to SKU information are recorded in the SKU Listing, including adjustments to stock levels.

Reporting:

SKU Listing reports may be generated for analysis, decision-making, and sharing information across departments.

Integration:

SKU Listing data may be integrated with other modules, such as Sales and Purchasing, for a holistic view of inventory-related activities.

The SKU Listing serves as a centralized repository of information about each SKU in the inventory, allowing for efficient inventory management, procurement planning, and decision-making related to product availability and pricing.