If your business is dependent on stock to sell, you need to make sure you have enough of it so you never run out. The minute you have no stock to sell is the minute you start losing customers. Stock management is the answer. And there are many ways to organise your stock for business storage.
We’ve pulled together the key elements for consideration:
Introduce effective stock management
If you have more stock than is being sold you will require more space to hold it; leading to additional costs. And you may even have to reduce the price of your items to get them sold quicker. Similarly, if you haven’t got enough stock, customers will start to lose interest and you may find your business and your reputation becomes less amenable.
By having an effective stock management in place, you are can ensure you are obtaining the right quantities; maximising sales and reducing the cost of excessive stock.
Why not consider one of the following:
First come, first served
Products should ideally be sold in chronological order. So, the first thing you produce is the first thing you sell. This is especially true of items which have expiration dates. If you focus on your last product first, you may struggle to sell your first product. It’s OK to stagger selling items if it helps you to sell more of the older stock first.
Analyse sales
A tried and tested way to keep on top of your inventory is to analyse your sales. You can use management software to track and forecast changes in supply and sales. You can also work out which items are selling the best and whether there has been any significant increases/decreases in sales to adjust your stock accordingly.
Categorise products
Split your products into profitability. Use a simple system like ABC or 123; with 1/A being the most profitable; 2/B being the second most profitable; and 3/ C as least profitable. That way you can work out how much stock you need of each item, with more stock required for 1/A.
Organise and store your stock
If you don’t have your own warehouse, Chelsea Storage can offer business storage in Chelsea. We have a range of different size storage solutions so you can upgrade or downgrade as appropriate. Whatever your needs and requirements, we can help! We are the best value for money self-storage company in London; with competitive prices, clean, dry and high security storage and flexible terms and sizes to suit all needs.
Once you have your storage space, you need to make sure it is well-organised. Effective organisation allows for a quick and easy dispatch, and reduces the risk of any damages. Consider using vertical storage solutions within the space to utilise the full height to the facility and allow floor space to manoeuvre.
Be sure to keep the heavier items to the bottom and the lighter items to the top; in case anything falls, the least amount of damage is made. Place more best-sellers within easy reach too to save time. Make sure all of you stock is clearly labelled; making it easier to find and reducing the risk of sending the wrong thing.
Chelsea Storage
If you’ve got a lot of business stock and need somewhere to store it, look no further than Chelsea Storage! We are a self-storage company in London offering convenient and secure self-storage space units for the public for as long or as short as you want it, at storage unit prices to suit all budgets. Call us today FREE on: 0808 1681310 to discuss your requirements or click here for a storage quote; and get your very own business storage in Chelsea today.
