When you’re running a busy company with a lot of stock going in and out, it’s difficult to keep perfect control of it at all times, and sometimes you can end up with more than you bargained for. If your storage space runs out, what can you do to manage the situation? These simple tips will help.
Store stock more efficiently
Have you really run out of space, or does your space simply need to be better managed? If you have stock that you know you won’t need for a month, can you place it under or behind stock that you know will leave your warehouse in that time? Can you fit in more shelves by using narrow ones for smaller items? Can you repackage items so that they take up less space? The key to doing this without running into trouble is careful labelling and cataloguing.
Set aside overflow space
Just like when you’re drawing up a budget, you should approach warehousing in a way that allows for overflow by setting something aside in case of that eventuality. Have an extra room or designated area that isn’t taken into account when you plan how much stock you can hold, and is used for storage only when an overflow develops. You can still use it as, for instance, a training room, as long as nothing is left there.
Rent a storage unit
One simple way to deal with your stock overflow problems is to make use of local storage units. This is easy to do in most areas, even in London, and, importantly, it can be done at very short notice, so that if a load turns up and you don’t know what to do with it, you can find a home for it straight away rather than risk it sitting outside and possibly getting wet. If you don’t have available transport, you can even arrange to get the excess stock picked up and returned to you later.
Offer discounts on low cost, bulky items
If your warehouse is only just beginning to overflow and your concern is that you need to free up space before more stock arrives, one solution is to speed up your sales. Even if you usually need to process stock before it leaves you and your production process is at capacity, there may be the option of selling some stock directly, over the internet. Offering discounts will get stock moving out more quickly and will increase customer interest.
Revise your inventory management process
If you’re having to deal with overflows on a frequent basis, it’s time to rethink the way you manage your stock. Is everything being checked off properly when it arrives? Is space being taken up by old stock that’s never going to shift? Could using automated inventory management software work for your organisation?
With the right approach, you will be able to make sure that overflows are only an occasional problem – and when they do happen, you’ll know what to do about them.
Comments are closed.