What are 'stock-keeping units' (SKUs) utilized for in retail?

• A. Identifying product quality for marketing
• B. Unique identifiers for individual products
• C. Setting prices on competitive products
• D. Limiting the number of promotions

Answer: (B)

Stock-keeping units (SKUs) serve as unique identifiers for individual products within a retailer's inventory system. Each SKU is tied to a specific item and contains important information such as the product’s description, price, size, color, and other attributes that distinguish it from other items. This unique identification allows retailers to manage their inventory effectively, track sales performance, reorder stock, and facilitate easier product management throughout the retail supply chain. The use of SKUs helps ensure accuracy in inventory control and contributes to better customer service by making it easier for staff to locate and sell products.