3 Tips To Storing Retail Stock Efficiently In Storage Units

3 Tips To Storing Retail Stock Efficiently In Storage Units

Setting up a brick-and-mortar business is relatively costly, which is why many aspiring entrepreneurs and start-up owners looking to create a business venture are moving towards online branding. However, storing all the inventory at home can take up a significant amount of space and interfere with your personal lifestyle.

As such, getting a self-storage space to manage your retail inventory and packing and delivering duties will help boost efficiency and revenue. This means that your business can improve its branding and meet customer demands easier.

So, if you are intending to use a self-storage for storing retail goods – read on to find out how you can keep your inventory safely and efficiently in storage units.

Check how much space you need

Make the most of the existing business finances you have by ensuring you secure a self-storage of the right size. A storage unit too big or small may mean that you are overspending or not having sufficient space for your storage needs. Hence, the need for having an estimate of how much inventory you have exactly to get the right storage space.

With Work+Store as your storage provider, you can select from a wide array of unit sizes beginning from 6 sqft to 730 sqft for storage spaces and 88 sqft onwards for storing and packing units. Throughout all our spaces, we are even able to offer round-the-clock camera surveillance and accessibility to keep our users’ spaces secured. Additionally, we now also have an improved door lock technology with an enabled fingerprint system for extra security. Also, we offer multiple locations islandwide, including Toa Payoh, 100 Eunos, Ang Mo Kio, Bartley, Aljunied, Kallang, Tampines, Bukit Merah, and Pasir Panjang. Our Kallang location currently offers storage unit rates at 15% off and up to 1 month-waiver. Moreover, it has 3 loading bays, 1 service lift, 1 passenger lift, and 1 cargo lift for storage unit users to enjoy. For more information, do get in touch with our staff. Terms and conditions apply.

Have the storage plan ready

After you have an idea of how much inventory you have on hand and the storage space you need, you can start planning how to store your retail goods in the unit. You can use shelves or stack things up from the bottom, and you can label all these items or boxes to make them distinguishable from each other. Sorting your inventory into colour-coding systems, categories, or alphabetically, is an effective way to avoid time wastage and confusion. Moreover, if your inventory turnover is frequent, it’s crucial to spend some time to make sure your stocks are accurately and efficiently ordered and labelled, with older products at the front and new items to the back.

Meanwhile, you should also be prepared for future business growth by having a well-put-together plan. In Work+Store’s case, we help support businesses by providing flexible service terms for storage unit users to enjoy the option of short-term storage usage and converting to other services and products within our property or even our parent enterprise, LHN Group, where users can find a broad range, including a serviced apartment, vending machine spot, and so on. To help businesses even further, we also have a Zero Deposit Guarantee programme where eligible business owners can keep the deposit for various other business expenses.

Remove any outdated stock

Discarding old inventory frees up more storage space for newer retail stocks, letting your business have a competitive advantage by staying in trend. This helps retail business owners store what they need only and improve overall storage productivity and efficiency. In addition, you could also build brand awareness by hosting giveaways, discounting old products in a flash sale, and even making a charitable donation while getting rid of old retail goods.

Decluttering in a comfortable and conducive environment is important, which is why Work+Store helps to establish these working conditions in our spaces. At Work+Store, we offer standard facilities for selected units like a powerpoint, air conditioning, and lightings. Through our spaces, business owners are able to expedite logistical processes and improve goods acquisition to provide better customer service.

After you have gotten a self storage, you also need to know how you should store your retail stock effectively to maximise storage space and sell goods for profit.

With the right storage space and methods in place, your retail business can enhance operations with everything organised and in order. However, while maintaining operational efficiency is important – so is employee wellness. With the current COVID-19 crisis, there’s a need for employers to be extra wary and implement the necessary safety precautions to ensure safe working conditions. In doing so, it will help employees stay safe and contribute to the government’s and frontline workers’ efforts.

If you wish to find out more about Work+Store and our other storage options, feel free to contact us at +65 6578 9966 or WhatsApp us at (65) 8345 9966. Alternatively, you can email us at space@workstore.com.sg for more information!

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