Manufacturers assign lot numbers to a specific batch or run of a product they produce.
When you are sourcing your products having this data is important for managing the relationship with your suppliers.
If you have product defects at any point you have traceability in an advanced WMS like Shipedge.
This lets you track the product back to a specific production lot, batch, or run and helps you work with your manufacturer to correct production issues or ask for refunds.