Even if you have a large warehouse, there may be times when you need to invest in additional storage space. For example, you might need more space if you’ve accidentally over-ordered, have stock that isn’t selling well, or have a sudden urge in customer demands.
Streamlining your inventory storage processes and keeping your stock organized are crucial aspects of warehouse management. When you’re able to store your inventory effectively, you’re better able to fulfil customer orders on time, minimize damage, and reduce unnecessary expenses.
The main issue you face when you’ve got extra stock is where and how to store it safely. Below, we’ve covered some top inventory management and storage tips for your business.
Rent Shipping Containers
If you suspect that your stock overspill is a temporary issue, it’s probably not worth buying permanent warehouse space or storage units. The alternative option is to purchase shipping containers for rent, where you can rent additional storage units or warehouse spaces for a specific length of time before returning them when you no longer need them.
Renting shipping and storage containers is a cost-effective way to manage increasing stock levels on a temporary basis. If needed, you can rent storage space on a long-term basis. However, if you suspect your customer demands and required stock levels will continue to rise, it might be worth purchasing additional warehouse space for permanent use.
Use Stackable Storage Solutions
When you’ve got too much stock and not enough space in your warehouse, you need to get savvy with your storage solutions. Stackable shelving and tall units are perfect ways to make the most of your available space without using more of the floor space in your warehouse for storage.
With stackable storage, you can safely store more products and keep them organized for easy access. Your warehouse workers can find products more easily when fulfilling orders when you’re able to keep your stock arranged neatly.
To improve warehouse safety, make sure to train your staff appropriately when you switch to stackable, vertical storage solutions. There are additional health and safety risks to consider when you’re storing stock above eye level. You will need to perform the necessary risk assessments and provide health and safety training, as well as moving and handling training for those working in your warehouse.
Implement FIFO Systems
FIFO refers to First in, First Out, and it’s a popular system. Using this approach to your warehouse storage means your oldest products are selected first by your warehouse workers when fulfilling customer orders.
FIFO is the most effective method for perishable products as it will ensure your stock gets used before it goes out of date and becomes unusable. In turn, you can reduce unnecessary waste and expenses, and use your income more effectively within your business.
short url:
