Whatever goods your company trades in, stock management is a vital component of your business. Whilst other aspects of your business need to be efficient and effective – marketing, advertising, customer service – failing to correctly organise and manage your stock levels will adversely affect your business performance.
Here are some aspects of business stock storage you should consider:
Effective stock management is essential
If you run out of product you will quickly disappoint – and therefore lose – custom! Implement an inventory management system that enables you to buy the right stock quantity at the relevant times – this will reduce your storage costs by not carrying excess stock whilst also maximising your sales.
If you are holding more stock than you are selling you will need larger storage space – and incur those costs – as well having to, perhaps, eventually sell the ageing stock at reduced prices – in some cases maybe even at a loss!
The ‘flip’ side of that is, if you don’t store enough stock, you will lose out on valuable sales as well as projecting a negative image of your service.
Analyse your sales to make forecasts
You can install inventory management software to accurately track your stock inventory and sales – this will inform of sales trends and allow you to forecast which stock is selling the most/quickest and therefore adjust your stock quantities accordingly.
Try sell stock chronologically
Wherever possible you should sell your stock chronologically – operate a ‘first in, first out’ stock policy. This is good practice for all stock but essential for items that have expiration dates. Organise your stock so that the items coming in are located at the back of your business storage space.
Stock storage should be flexible to your needs
Having acquired your stock you need to source an appropriate space in which to store it. Source a business storage company that specifically caters for business stock storage – many storage facilities can provide different sized spaces giving you the option of up or downgrading your space at relevant times.
Vertical storage will maximise the floor space
Organizing your business stock storage space efficiently is important. Ensure you make the best use of the space you have – use all the vertical space you can to ‘free up’ the floor space to create easy access to your stock. Store the heaviest items nearest to the ground with the lighter stock toward the top.
Place your biggest selling, or most popular, items toward the front of your space as these will be collected most frequently.
Labelling stock for storage is essential
Ensure they are clearly and correctly labelled, so they are easily identifiable. This makes them quicker to find and will reduce the risk of dispatching incorrect items.
When identifying the best option for stock storage in London, ensure the business storage facility you choose has all the safety and security features provided for the safe keeping of your valuable goods.
Chelsea Self Storage
Chelsea Self Storage we have 30 years experience in providing the ideal storage solutions for businesses. We understand the optimal storage methods for archived documents and records and can help you calculate the right size of unit you’ll need to maximise your budget. With some of the lowest competitive rates in the capital, we’re convinced that we can offer a file management solution that’s just right for your business.
We are conveniently located near Kensington, a short walk from the Kings Road in Fulham, and have satisfied clients right across London who can testify to our capability and customer service.
If you need to reclaim valuable office storage space then contact us today and we’ll be happy to help you archive your records safely and securely.