Tips To Managing Your Own Inventory And Office Documents

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As your business is growing, your inventory and volume of office documents may be increasing by the month. One of the most integral parts of any business is inventory and records management. If your workspace is in a chaotic order, you can lose productivity and the efficiency to carry out your job.

Determine how organized is your business’s inventory management. Do you find it easy to search for the right document or products when needed? Can you quickly reconcile your stocks between what’s in your records and what’s available physically? Do you lose out on business in terms of out of stock items or lose money due to excess inventory?

Avoid losing valuable productivity. Here are excellent tips for managing your own inventory and office documents.

Constantly Track Your Inventory

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Self storages in Singapore offer storage units and business spaces for rent as a convenient solution for companies to work in and store goods in the same place. Establish a solid system in place to track your stock levels. You can utilize various inventory management software that connects to your point of sale and offers real-time sales analytics. Stock levels are auto-adjusted every time you make a sale so you will always know which stocks are running low for future orders.

Identify and Remove Slow-Moving Stock

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Your inventory tracking software should also help you filter out stocks that have not been sold in the last 6 to 12 months. Excess stock wastes capital and takes up space that can be better utilized for other products. You can consider different ways strategies to get rid of it such as a sale promotion or special discount. If your business space is running out of space for storage, you can rent a unit in the cheapest self storage in Singapore for temporary storage of your inventory.

At Work+Store, we provide storage spaces ranging from 6 sqft to 730 sqft, with all-inclusive rental rates and flexible lease terms. There is also 24-hour keycard access to your units, so you can access your stock items at your own convenience.

Perform Self-audits

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Aside from having a good inventory management software, you still need to ensure that you periodically conduct physical checks and count your inventory to ensure your stocks matches. This can be useful for products that move fast or have stocking issues.

Document Management

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The influx of critical documents such as invoices and receipts may grow as days go by. Whether you are working at home, in a traditional office or workspace rental in Singapore’s self-storages, you can benefit from having a strategy for document management. Organize various files depending on the ease of retrieval and store them in a sequence that makes sense to you. Also, establish a policy on how long to keep those documents and when to dispose of them, if need be.

Your digital document storage should also mirror your physical filing system when storing documents and records. Regularly sort through, file and purge hard copy and electronic copies to prevent clutter from piling up.

If you are looking for a working space for lease, Work+Store is one of the cheapest self-storage in Singapore that offers work spaces for rent in sizes from 88sqft onwards. These units are equipped with aircon, lights and powerpoint to support a conducive working environment. Our working spaces allow you to utilize it as a place to work in or double it to include a storage space for goods and merchandise stocks. Under one space, you can reduce logistical inefficiencies and transportation costs, as well as better manage goods procurement. Our units are located islandwide in 8 locations namely Eunos, Ang Mo Kio, Bartley, Bukit Merah, Tampines, Kallang, Upper Thomson and Pasir Panjang. Under our parent company, LHN Group, we also offer bigger unit rental for office and warehouse in commercial and industrial spaces across 36 properties in Singapore.

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!