What do SKUs help with in a retail context?

SKUs, or Stock Keeping Units, are unique identifiers assigned to products in a retail environment, and they primarily serve to track item movement history. This tracking includes recording sales, inventory levels, and the specific details related to each product, such as size, color, and style. By utilizing SKUs, retailers can effectively manage their inventory, ensuring that they are aware of what products are selling, what needs to be restocked, and how different items are performing over time. This information is crucial for making informed decisions regarding purchasing, pricing strategies, and inventory management, contributing to overall operational efficiency.

In contrast, tracking employee attendance, monitoring cash flow, or managing customer complaints involves other systems and methodologies that are not directly related to the product-specific data that SKUs provide. These areas are important for running a retail business but do not utilize SKUs as their primary means of analysis or management.