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Module 4 Inventory Tracking. While running a warehouse is important is just as important to properly manage your inventory your inventory is the heart and soul of your e-commerce business. So it is important to properly track and account for it. There's a few things you got to get right from the start. If you want to avoid major headaches in the future. First, as naming your products. Each product should have a unique name.
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An easy way to identify each variation you'll also want to come up with a shorthand for the names of your products. We call these stock keeping units or SKUs. I highly recommend that you use descriptive SKUs versus just combinations of letters and numbers. For example, instead of using a random string like this f 3, 2 uses q the list the brand category item
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and item variation like GE dash h B all you g is the brand hat as a category Excel is a size variation and blue is a color variation at one glance, you get a good idea of what item is being referenced by this SKU. This makes it much easier to understand your inventory
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reports and much easier to train new where our staff on what your products are. It is also critical to register your product with unique identifiers commonly referred to as universal product codes or UPC These are numbers that are registered with just org and ensure that no one else in the world has a product code that you have chosen for your product, you may also hear these numbers referred to by other names _i.e._ GTMNs or global trade item numbers or barcodes.
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Barcodes are just a version of your UPC that uses a pattern of parallel lines of varying widths that makes them easy to be read by a scanner. I highly recommend having your manufacturer put your barcodes on your product when they make them. If not make sure that when they arrive at your warehouse you apply them.
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This is especially critical if you're using a three people were planning to sell into retail stores barcodes can also be extremely helpful when you start processing lots of orders brauer because they can dramatically decrease errors in processing. Scanning a barcode that is immediately matching the scanner with the item that you're supposed to be processing can help reduce human error. It's also important to keep proper track of all your SKUs with an inventory tracking spreadsheet.
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This allows you to keep complete information about each queue. We'll be extremely useful to you as you increase your product catalog for HQ. You need to at least track product attributes like length with height and weight shipping package size inventory amount cost to manufacture lead town to manufacturer
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location of product images title UPC and product descriptions. Lastly it's important to keep a close eye on how fast you are scaling your inventory. So you can forecast when you need to reorder for each SKU need to keep track of how many you are selling per day and how many you have left in inventory. Then you can calculate when you will run out. If it takes you 60 days to reorder product
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from your manufacturer. You should put in another order to your manufacturer in more than 60 days before your scheduled to run out.
