As consumers, we all see numbers randomly assigned to each product for identification purposes; but this is only half the story. If you’re only getting started with inventory management, you must learn the difference between lot numbers and serial numbers. A lot number is assigned to a group of products manufactured simultaneously — for example, a batch of slippers being produced at the factory on the 1st of March. A serial number, on the other hand, is a unique string of numbers that are associated with a specific product. Here’s diving deeper:
How Lot Numbers are Created
Do Serial Numbers Still Come in Handy Then?
Automating Allotment of Lot and Serial Numbers with AltheaSuite
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