310 | What is a SKU and why do I need them? with Katie Hunt
Sep 12, 2023
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Katie Hunt, an expert in SKU systems for wholesaling, dives into the importance of SKU numbers, how to develop them, and the advantages of implementing a SKU system. She shares tips on managing and structuring SKU numbers as your business grows.
SKU numbers simplify wholesale operations and enhance inventory management.
Alphanumeric SKU codes should be clear, concise, and scalable for efficient product categorization.
Deep dives
The Significance of SKU Numbers
SKU numbers are crucial for internal organization and external communication in wholesale businesses. They simplify the sales and marketing processes, facilitate product fulfillment, and streamline customer communication. Additionally, SKU systems aid in inventory management, preventing errors and enhancing operational efficiency as the business scales.
Creating an Effective SKU System
An ideal SKU system involves using alphanumeric codes with a mix of letters and numbers for each SKU. These codes should reflect product categories or variations, providing clarity and ease of use for both internal teams and customers. Examples like 'BDGC001' for a green bandana with cats demonstrate how SKUs can efficiently categorize products.
Best Practices for SKU System Implementation
When establishing SKU systems, it is vital to avoid overly long or complicated codes to minimize errors in ordering and fulfillment. Ensuring SKU uniqueness, scalability for future product releases, and proper handling of discontinued SKUs are essential aspects to consider. Ultimately, simplicity is key in setting up an effective and user-friendly SKU system.
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Understanding SKU Numbers and Their Importance in Wholesale Operations
Do you find yourself fresh in the wholesaling journey? Are you asking yourself whether you need stock-keeping unit (SKU) numbers? And if you do, how do you create them?
In today’s episode, I’m answering some frequently asked questions often heard at Paper Camp, regarding creating and utilizing SKU systems. Listen in to hear tips on setting up your SKU system early on in your wholesaling journey and why I believes you shouldn’t overcomplicate your SKU systems.
Today’s episode is brought to you by our free, on-demand wholesale audio series. In this audio series I’ll walk you through the biggest mistakes and most common questions folks have when they are starting and scaling wholesale—so you don’t make the same mistakes myself and others did. You can binge this audio series in less than an hour and you can listen on the go in your favorite podcast player. No fluff here, just concrete action steps and answers to help you simplify and strengthen your wholesale sales.