The only advice I can offer is in the way of common sense; The easier it is for you to distinguish products by their SKU at a glance the better off you'll be.
If you do not rely on a distributor that uses standardized SKUs, you're free to make up your own, and you can use letters as well, so that Red doesn't have to be 444, it can be RD or whatever.
I also tried to make some kind of standardized system for myself across the field, but the model numbers don't have to be sequential (or make any kind of sense) and the biggest hurdle is being able to use them after not looking at them / thinking about them for a few weeks, after they'd cleared out of your short-term.
-Tim
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