Whether you are working with raw materials, processing or finished goods, maximising the inventory space in your warehouse is a smart strategy to improve your business. You can save money by keeping your inventory costs manageable, and you can also increase sales by having products easily accessible on-demand.
Here are ways you can better utilise your storage space:
Use the Proper Storage Equipment
The World Health Organisation, in a technical supplement, mentions that different storage equipment has different utilisation factors. The volume available in each storage container is affected by conditions such as storage method, ventilation and item accessibility.
To maximise your warehouse, make sure to invest in warehouse storage essentials like pallets, stillage cages and transport boxes that are suitable for the size of the items you store. If you have items that utilise the whole container but do not fill the space completely, consider storing items that can be packed more densely instead.
Measure the Vertical Space
The proper storage equipment offers not only easy access and organisation but also utilises vertical space. Stacking racks, for example, allow you to store similarly sized items on multiple levels while occupying minimal floor space. High-rise pallet racking systems can double or triple the storage capacity of your floor area, depending on the height of your warehouse. A free-standing mezzanine provides you additional storage levels that can be handily assembled and dismantled.
Clear Excess Stock
Finding the balance between keeping and disposing of excess stock is critical for reducing inventory costs. For example, CRN, an online tech magazine, reports that hardware distributors in the IT industry face inventory problems because of continuously evolving technologies that cause particular items to become rapidly obsolete. Activities like sales and inventory forecasting can help you adjust for the ebbs and flows of product demand throughout the business year.
Different storage equipment and strategies can help maximise your warehouse storage, allowing you to keep stock more efficiently. More than that, maintaining optimal capacity indicates that you are operating your business in a dynamic, proven formula of success.