Reference no: EM132308404

My business is not into selling anything to customers; we provide a service so for the most part, these items will not help my business. The stock keeping unit (SKU) however is something that can be applied to my business. A stock keeping unit is a code for a product, often readable my some style machine with its bar code that helps track what you have in your inventory (Kenton, W., 2019). These would assist with monitoring the items that our business uses, like smoke canisters, blank ammo, an all office supplies. Using the SKU will ensure that we never run out of any given item and will always know what we have on hand.

The one item from this week that would have no value to my business would materials requirements planning (MRP). Materials requirements planning is a software-based system that provides info to improve productivity; it acts like a sale forecast for deliveries of raw materials (Kenton, W., 2019). The main reason that this would not help my business is that we do not sell anything so we will not have any sales to track using the system.

Just because my business is not into selling items that don't mean that inventory is something that we will not even need or use. Keeping track of supplies is essential no matter the business, you do not want to have a customer come to use your service only for you to find out that you are out of something that is vital to provide the service. Using some of these systems will ensure that everything that we need to have on hand to give the customer the best services is there when needed and will also help with the ordering of items. Without this service, we would be making a WAG on what we need to order.