Running a business is no easy feat. With multiple tasks on your to-do list, you may constantly feel like you do not have the time or resources to manage your inventory. While it may be tempting to prioritise other aspects of your business first, we will advise against doing so.
Inventory management is crucial for businesses, as it ensures you always have sufficient stock to meet demand and can easily locate the product when there is an order to fulfil. So how can you manage your business inventory better? Read on to find out!
Tip #1: Rent a storage unit
If you wish to organise and keep track of your inventory, you will first require a dedicated place to store your products securely. While it may be tempting for you to stow them in your office, you are going to run out of space eventually. Moreover, a messy workplace serves as a distraction, affecting your productivity. In such circumstances, you should consider turning to business storage services in Singapore to keep costs low while ensuring everything stays organised.
At Work+Store, we offer comprehensive storage solutions tailored to every business need. Coupled with our flexible lease terms, you can easily upsize or downsize your storage space based on your requirements. Additionally, you can enjoy 24/7 access to your inventory, allowing you to promptly restock or perform your order fulfilment duties without fuss.
Tip #2: Invest in organisation shelves and products
Once you have your business storage sorted, it is time to figure out how to stow your products efficiently. This way, you will find it easier to retrieve the stock you need when you require it. We recommend thinking vertically and installing freestanding shelves to maximise your storage space.
Don’t neglect to store your products in durable storage containers to safeguard them from wear and tear. It will be good to ensure every container possesses the same dimension to make it easier to stack them vertically and prevent your items from toppling over.
Grab a label maker and mark each container individually so that you have a clear idea of the products contained within each box. After all, you may forget where you place each inventory after the items have spent some time in storage. Doing so allows you to have an easier time grabbing what you need without having to rustle through each box or bag.
Alternatively, you can invest in clear plastic containers if you wish to save time and effort from labelling every box in your storage unit. Since the containers are transparent, you can easily identify which product is inside which container without having to open each box and dig through its content.
Tip #3: Implement a logical layout
As a business owner, it is essential for you to know which products you carry are in demand and which are less popular. Taking your product demand and turnover into account lets you know when to resupply and what layout to implement for your business storage space.
Naturally, your frequent sellers should be placed at the front of your shelves. In particular, they should be located in an easy-to-reach location near the door of your storage unit. Conversely, items that are not flying off the shelves can be kept further back. This arrangement makes it more convenient for you to resupply when you run out of popular products at your store.
Are you ready to streamline your inventory management process now that you have a clearer idea of how to manage your business inventory? In that case, there is no better place to begin than at Work+Store! We offer storage space for your business at attractive prices. Do not hesitate to contact us today to request a price quote.