What is unit of measure lot?

A unit of measure lot is a specified quantity of a product that is used for ordering, inventory management, or selling purposes. This lot unit is defined by the manufacturer or supplier and can vary in size depending on the product. For example, a lot unit for a perishable product like fruits or vegetables may be measured by weight, while a lot unit for clothing may be measured by pieces. Lot units are essential in ensuring that products are well-managed and ordered efficiently. It also helps in determining the potential profit and loss on a specific product.