A lot is a batch of the stock-keeping unit. Lot tracking is a process of keeping under control the movement of batches (lots) from manufacturers through suppliers to the customers.
Lot tracking software allows companies to neatly track:
- any particular group or batch of their product;
- suppliers’ information and date of purchase;
- which customers and when have received consignments;
- products expiration date;
- movement of goods from start to finish along the supply chain.
Lot tracking helps businesses:
- keep inventory organized,
- trace products by manufacturer, production date, and expiration date,
- act quickly in case of a recall.