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Inventory Overview

An Introduction on How to Manage Your Inventory in TWICE

Updated over a week ago

Understanding how to effectively manage your inventory is essential for maintaining a streamlined operation, whether you are selling or renting out items. This overview provides foundational knowledge to get you started with inventory management in TWICE.

What is Inventory?

Inventory encompasses all the physical assets a company owns and utilizes in commerce, such as through sales or rentals. This includes every item housed within a warehouse or the backroom of a retail store. These items are referred to as articles, and to simplify the management process, they are grouped into Stock Keeping Units (SKUs).

  • Learn more about inventory types here.

What are Articles?

Articles are the individual, physical items within your inventory, each potentially having a unique ID or article number. Additional metadata for each article, such as manufacturer, model, and year of production, can also be stored to enhance tracking and management.

  • Learn more about inventory articles here.

What are Stock Keeping Units (SKUs)?

SKUs are a vital component of inventory management, serving as a method to categorize and group similar inventory articles. This system simplifies order fulfillment and tracking by consolidating related items under a common identifier.

  • Learn more about Stock Keeping Units here.

The Difference Between Inventory and Product Catalog

It's important to distinguish between your inventory and your product catalog. While inventory refers to the actual physical items (articles and SKUs), the product catalog consists of the products, services, and combinations that you offer to your customers. Understanding this distinction is crucial for effective inventory and sales management.

  • Learn more about the difference between inventory and product catalog when renting and selling here.

Further Learning

For a deeper dive into managing rental inventory and other related topics, consider visiting our Blog.

  • Head over to our Blog for an introduction to rental inventory management here.

This guide serves as a starting point to familiarize you with the basics of inventory management in TWICE, setting the stage for more advanced applications and strategies as your familiarity with the system grows.

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