vöruhóp

Vöruhóp is a term used in Icelandic commerce and statistics to refer to a defined group of goods treated as a single unit for purposes such as classification, inventory management, procurement, pricing, and reporting. The concept helps organizations organize products into manageable categories for operations and analysis. The word is formed from vöru-, meaning goods, and hóp, meaning group; in English the closest equivalents are “product category” or “goods group.”

Usage and examples: In retail and wholesale, vöruhópar structure catalogs, price lists, stock balances, and promotions. They may be hierarchical, with top-level groups such as electronics and subgroups like smartphones or laptops. In accounting and statistics, vöruhópar aggregate similar items to facilitate data collection, budgeting, and performance measurement. Modern information systems, including ERP and point-of-sale software, often store product data at the vöruhóp level to enable efficient reporting and procurement planning.

Relationship to related concepts: The concept is closely related to product categories, assortment planning, and inventory classification. Distinctions between a vöruhóp and individual SKUs exist, as a vöruhóp can encompass multiple SKUs sharing common characteristics, such as a family of items or a broad category intended for aggregated handling.

See also: product category; inventory management; retail classification.