Space Utilization: Maximizing Storage Capacity During Peak Season
Space utilization is one of the most important factors in staying ahead during the peak holiday season. Maximizing your storage capacity without expanding is vital to be at the top of your supply chain game this season. Simply put, the more space there is, the more selling potential. Never underestimate what space can do for sales. Access to more effective space management means that orders are packed and shipped faster, and there’s often more room for the next round. Here’s how to maximize storage capacity during peak season.
Space Utilization: Maximizing Storage Capacity During Peak Season
Reassess Your Stock
Assess your stock just before the peak season. Knowing exactly how much stock you have to rely on and how it is being stored enhances overall performance. Inventory reassessment is a potentially significant advantage and tells you how to optimize storage solutions to their full potential.
Never be unsure about how items are stored or what your stock floor currently looks like. You must maintain a clear, ideal view to not only survive the holiday rush but prosper.
Reassess your stock by:
Analyzing sale trends and identifying the level of demand
Identify fast-moving items to avoid stockouts
Optimize warehouse space with strategies to move items that sit and waste space
Utilize reports generated from inventory management software
Consider a pallet racking system to decrease storage costs and avoid wasted space
Don’t wait until things are out of control to reassess your stock. Ideally, do this just before the expected holiday season to be best prepared.
Update to Real-Time Inventory Software
Real-time inventory software is the modern way to keep track of your supply chain. Modern inventory software is better than keeping track with pen and paper — and the difference is apparent in that all larger companies have long since switched. Utilizing this software:
Tracks stock and inventory levels
Generates reports for operational efficiency
Automates the reordering process
A real-time view of stock allows for complete control and guarantees you can utilize space as best possible in the long term. One of the key aspects of a warehouse management system (WMS) is stock audits. These counts verify stock and identify any discrepancies.
Would you have had the same advantage if you didn’t keep track of everything? Nope.
Outsource to Third-Party Warehousing
The moments before the holiday rush are an excellent time to consider switching to third-party warehousing solutions. A third-party solution can reduce pressure on your warehouse, allowing you to maintain balance and maximize the potential of your given space.
Reliable third-party warehousing means you increase storage capacity without expanding your current space.
Let third-party warehousing solutions free up some space. Why do it any other way?
Reorganize Before the Peak Arrives
Companies sometimes have dead stock that they discount until the point where it’s unlikely to sell. Reorganize your stock before the holiday season arrives, and move all stock becoming a liability to another location.
Holiday orders mean that you need all the space you can get. There has to be space for high-demand items, and there’s less room for any stock that stands in the way.
You might notice that many stores hold sales on particular stock around specific times of year. This is their clearance period, during which they’re freeing up essential warehouse space to make room for other things.
Larger companies lead by example, but not all smaller companies know how to follow.
Donate Surplus Stock to Charity
Companies can benefit from donating some of their surplus stock to charity just before the holiday season comes around. There are tax initiatives associated with donations, but this isn’t the only reason why companies donate before the holidays — it also allows companies to free up essential warehouse space during a crucial time.
Consider doing some good for local charities, and it might also do some good for your business at the same time.
Stock should never sit around in a warehouse for too long, especially not before the holiday season rush. Charity donations are a way to free up essential warehouse space and reap the benefits of knowing you’ve also done something good for the community.
Focus on Faster Order Fulfillment
More space means a more effective work environment, where employees can often focus on faster order fulfillment. The holiday rush means that orders have to see their destination at the busiest time of the year — and yes, a supply chain’s job is like having to be Santa!
Free up space before the peak, and there’s a lot more space to move around in, and space to put to use. Faster order fulfillment is what often means some companies are prepared for the rush, and other companies are running around trying to find their order list.
USA Global Logistics
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