Stock Keeping Unit (SKU) Data
The Ultimate Guide to Stock Keeping Unit (SKU) Data 2021
What is Stock Keeping Unit (SKU) Data?
To automatically keep track of the movement of stock in a given store, SKU labels are made to be scannable and can be attached to the outer cover of products. In addition to keeping track of inventory movement, SKUs also help vendors ascertain the units of repair, services and warranties and to also have a clear view of when to re-order more inventory and sales data.
How is Stock Keeping Unit (SKU) Data collected?
Once a customer buys a product at the point-of-sale (POS), the SKU is analyzed through scanning. Once this is done, the POS system then eliminates the purchased item from the store’s ‘available’ list before archiving other crucial data of the product such as sale price. According to their line of business, stores generate diverse SKUs for their goods or services. For instance, a store that sells women’s apparel can generate SKUs that indicate various details about this line of product. These details may include things such as color, size, and style of wear, price, and manufacturing details.
What are the attributes of Stock Keeping Unit (SKU) Data?
The core attributes that are associated with SKU data are representative of the products that the SKU data is supposed to identify. The typical features of items sold in retail stores can include the price, size, and color. Other core product attributes which can be found in an SKU dataset include item identifiers and types, item status in terms of availability, and pricing and cost. Item identification attribute exclusively separates every item in a store to avoid any mix-up. Item status is an SKU data feature that shows the availability of a given inventory in the warehouse. This availability aspect gives the exact number of the scanned item that are still in the retailer’s warehouse.
What is Stock Keeping Unit (SKU) Data used for?
SKU data is a crucial tool for vendors and retailers because of its wide-ranging benefits. These benefits include keeping track of the available stock and enhanced ease in stocktake, replenishing of depleted inventory and keeping track of profits as per the items sold. Through an inventory management system, it is easier to apply SKU data to keep track of the available stock. When inventory items in warehouses have SKUs, it becomes easy for the retailers to ascertain the availability of stock. Stocktaking is another critical area of any business operation which benefits from the SKU data system. SKU data makes it easy for businesses to reconcile stock levels by ensuring that the actual stock levels in a business’ store are in-line with the stock levels indicated in the inventory management system.
How can a user assess the quality of Stock Keeping Unit (SKU) Data?
When evaluating SKU data of an inventory management system, business owners ought to bear in mind the critical factors to be considered for include integration, data analytics, multi-location support and the ability to customize this data. An SKU dataset should be integrable in the sense that it should be able to work with the services already in use in the business. Quality SKU data system also can give detailed analytics of the top and bottom performers of a business’ inventory. As such, SKU data, in addition to providing analytics of sellers, should also be able to keep track of profits. Another factor is the ability of the SKU data system to work seamlessly for a business that has multiple warehouses and storage facilities. Lastly, the quality of SKU data can be addressed by its ability to accommodate changes and work with the ever-growing needs of a business.
Who are the best Stock Keeping Unit (SKU) Data providers?
Finding the right Stock Keeping Unit (SKU) Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Stock Keeping Unit (SKU) Data providers that you might want to buy Stock Keeping Unit (SKU) Data from are DataWeave and MedMine.
Where can I buy Stock Keeping Unit (SKU) Data?
Data providers and vendors listed on Datarade sell Stock Keeping Unit (SKU) Data products and samples. Popular Stock Keeping Unit (SKU) Data products and datasets available on our platform are Assortment Intelligence by DataWeave and MedMine - Bespoke Research Projects by MedMine.
How can I get Stock Keeping Unit (SKU) Data?
You can get Stock Keeping Unit (SKU) Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Stock Keeping Unit (SKU) Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Stock Keeping Unit (SKU) Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to Stock Keeping Unit (SKU) Data?
What are the most common use cases for Stock Keeping Unit (SKU) Data?
The top use cases for Stock Keeping Unit (SKU) Data are Product Data Enrichment.