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Free Sku Generator Microsoft Excel3/12/2021
But regardless, you should be using some type of system or process to track your inventory.This is a simple and efficient template for inventory management - because Excel can only do so much.
So when you receive inventory you will record that as one record. This method is beneficial for historical referencing, reporting, and accuracy. We encourage you to customize your template to best fit your needs and business model.). Every good inventory management process needs to have some sort of unique identifier to keep everything organized. You can use a custom ID that you created and assigned to a SKU if your process requires it, but for most retail businesses the SKU number is the recommended choice. Theres clearly no need to go deep on the reasoning behind this column, except that its a must for data mining and reporting at a later stage. When you receive an item it makes sense to describe the SKU that was received. When you adjust or make a sale I would still recommend the same receiving description but then appending the action or reasoning. We can write that description as Mens Black Nike Shoe Size 11 - Sold, Amazon. What if you are giving away a couple of pairs for a charity event In this scenario I would use the adjust reason followed by Mens Black Nike Shoe Size 11 - Adjust, Boys and Girls Club as the description. However, those that sell an assortment of products or have different accounting principles may find this field useful. UoM can be represented as units, sq ft, meters, liters, or pretty much any other unit of measurement. This is one of the most important metrics to keep your eyes on. Regardless, I choose to include it along with an array formula to help determine revenue and costs.
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