Are you looking to make cost savings in your warehouse in 2022?
Our warehouse cost-saving guide will help you identify ways to reduce costs, become more sustainable, and avoid unnecessary spending.
The costs involved in running a warehouse can be high, If they aren’t managed properly. But, with effective management and a proactive approach, it is possible to make savings while optimising productivity and efficiency.
The management of your warehouse
The management of your warehouse is crucial to ensuring that your day to day operations not only run seamlessly but also allow you to reduce costs and maximise profit. With this in mind, every part of your supply chain and management system should be reviewed to identify opportunities to make savings, without compromising on productivity – it has to be a balance.
Storage optimisation is crucial in any warehouse setting, ensuring you use every inch of space effectively.
As well as leading to you paying for unnecessary additional space, poor storage solutions can also lead to errors and poor service as items get lost or misplaced. With this in mind, you should look closely at all areas of your existing storage including its physical structure, warehouse flow, product placement, and storage and retrieval methods.
Ask yourself what you can do better and what savings can you make including investing in smart storage solutions.
Theft identification and prevention
Theft is a growing concern within the warehousing industry. And, when theft does occur, it increases costs for the business.
With this in mind, theft identification and prevention should be a top priority, tackling theft, fraud and misconduct. There are a number of different signs that could indicate that theft is an issue within your business, including stock levels not matching your sales records, staff reporting theft, a dip in sales, missing invoices, amended invoices and stock being left in the wrong place.
All of the above need to be addressed straight away to prevent unnecessary spending.
Improve warehouse inventory visibility
Managing and maintaining healthy inventory levels across your supply chain network can be incredibly beneficial to your operations.
Improving inventory visibility can reduce costs in a number of ways, including increasing overall efficiency, improving the accuracy of demand forecasting, improving the customer experience, increasing order accuracy, and reducing supply chain costs.
Invest in the right warehouse technology
Thanks to significant advances in technology, there are now more ways than ever before to improve the functionality of your supply chain for warehousing success.
For example, a warehouse management system (WMS) will help you tackle major warehousing challenges, reduce costs, optimise product visibility, trace your stock and optimise productivity. Ultimately, a WMS will save your business time and money.
Save on warehouse costs with Optima
Here at Optima, we have over 15 years of experience in designing, developing and implementing effective WMS solutions. Over the years, we have worked with a wide range of companies, across a wide range of industries and sectors, in the UK, Europe and further afield.
If you have any questions about our systems, please do not hesitate to get in touch with a member of our team today.