Item Groups management with Zoho Inventory
What Is Item Grouping?
An item group is a collection of products which share similar attributes like color, production, features, or usage. Item groups can also be formed based on the markets in which they’re sold or if they’re similar in price. For example, if an iPhone is an item group, then items in that group would be iPhone 5, iPhone 6 and iPhone 6s.
Even though the items are grouped together, each item from the group is a standalone product and can be purchased separately.
How are item groups useful?
New items are added to existing item groups to expand your product line or to replace an old item or group which isn’t performing well.advantages of item groups and how they can help your business function more effectively.
Advantage of item groups and how they can help your business function more effectively
To help organize your products: Imagine if your inventory is scattered with many items without a proper arrangement. You might be unsure as to what to order, which products are similar to each other, and how to price them. Creating an item group will help you organize items with similar attributes together, price them effectively, and know when to order a particular item from an item group based on the overall performance of that particular line of products.
Item group consistency
To determine the item group consistency variations between the items are considered. It is determined based on the usage, production, and distribution. The fewer the variations between items, the higher the item group consistency. For example: Ferrero’s top variations are Kinder, Rocher and Nutella which are all chocolates, hence their item mix consistency is high. Whereas, Apple has item groups where their product lines are not related to one another: iPhone is different from Macbook, which is different from their airpods, so their item mix consistency is low.
Learning how to create the right item groups with related items is crucial when you start selling your products in the market. Item groups help keep your inventory organized by helping you stack and dispatch related items, thereby helping in effective inventory management.
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