Regardless if you have a big or a small business, it might occur that you might not be able to fit most of your inventory at your designated retail location. A storage warehouse might be a solution for this but it might not be within your financial means to acquire or you might just simply not need that amount of space for your storage and as such a different solution needs to be employed.
This could come in the form of a self-storage facility which will certainly save you a lot of money. In no small part you will have to now employ your organizational skills and follow a few tips in order get the most benefit from your storage.
Compartmentalize your storage
Before placing a single item in your storage, you will need to start optimizing the space before-hand. This will help avoid having to dig up through mounds of boxes before you actually find what you were looking for.
Have the appropriate shelving units installed depending on the type of inventory you want placed. You can find both pre-made as well as customizable shelves depending on your requirements. What is essential is that you make the most use of the space that you have so that products will fit in perfectly in the spaces you have allotted for them.
Cataloging your inventory
Once the infrastructure of your storage is set in place, it is time to consider applying an inventory management system for cataloging or arranging your inventory. This starts with a labeling system for your inventory so that your employees can easily spot the boxes that they need and also a barcode system should come in second for purposes of identification and tracking.
Storing Popular Items
The rule of thumb in organizing your inventory is that only around 20% of your products will comprise 80% of your sales and as such, you will want those products to be at the front of your storage space where they will be easily accessible by your employees.
If you have more than just one storage space, try and get the popular items that you usually sell stored into cheap storage units and set aside the others for the rest.
As we live in these days, organizing your entire inventory on paper is not only an antiquated system but it’s also not the most secure one. Consider upgrading to a digital inventory management system which will safely keep the relevant information stored. You might as well have an integrated barcode scanning system to keep track of your inventory items and stock audits.