Want to get the most out of your warehousing space? We don’t blame you. This is an investment for your business, and like any investment, you want to get your money’s worth. At Overflo, we take time to make sure each of our clients is getting the right inventory space for their needs – not too much, and not too little. Check out these five tips to maximize your warehousing space, courtesy of our Maryland warehouse.
Change Your Inventory Layout Seasonally
Your business needs will change throughout the year. New products come in demand, and those products need to be accessible. We recommend rotating your inventory seasonally. Those ‘seasons’ will be based the nature of your business, not the weather or definitive quarters of the year. Use last year’s sales data to determine when fluctuations are most likely to occur. Take time to re-arrange your inventory layout around those times so you can fulfill orders effectively. This ensures that your warehousing space is optimized for your sales.
Consider Vertical Storage Options
To get the most from your warehousing space, try to use every inch available. That includes the vertical space you have access to. You wouldn’t want to store high-demand items in upper shelving, but this is the perfect place for out-of-season low demand items. Perhaps you only sell certain products a few times a year. Those can be stored in upper sections of the warehouse, as long as they can logistically fit. Talk to your warehouse about how you can best make use of the vertical space available to you.
Clear Excess Inventory
Holding to certain products may eat up valuable warehousing space. There is nothing wrong with storing inventory that will sell, but you also need to know when to let go. If certain products have not sold in months and they’re not going to sell for months to come, find a way to liquidate them. Have a clearance sale online, sell them to another retailer, or donate the products and get a tax write-off. Be realistic about what your customers want, and use that information to dictate which products stay in the warehouse.
Adjust Your Re-stock with Demand
Ordering more of the right products can be just as damaging as keeping the wrong ones in stock. Just because something sells well now doesn’t mean it will sell well forever. Make note of your trends when you’re restocking your inventory, and scale back orders after the peak of the season. Once the demand disappears, you will only be left with a small amount of inventory to store the rest of the year.
Upgrade When You Need to
Don’t be afraid to get more warehousing space if the time is right. Your business is growing rapidly and your sales are propelling forward. You need room to grow. If you’ve reached the maximum potential of your current warehousing space, you need to expand. Overflo has scalable business options that can grow with your business.
Give Overflo a call at 1-800-626-0616 to learn more about our warehouse, distribution center and order fulfillment services in Maryland.