Four Factors to Consider when Choosing a Warehouse for your Inventory
For any trading business, stock allows them to operate. Thus, the stock must be stored in a warehouse which suits the needs of the company. Often, when a business wants to secure a warehouse premise, they will have to consider what the warehouse offers and where it is located. But, there are other factors to consider and overlooking these factors can result in greater costs and losses for your business. If you are looking for a warehouse for your box inventory storage, take the following factors into account:
To secure the best warehouse for your inventory, determine what you need the warehouse for. While holding stocks is your main purpose, you should look further than this and consider the features that the warehouse can offer. These features include the following:
- Layout. Ensure the layout of the warehouse fits the way you operate.
- Size. Consider if the warehouse provides enough space. You don’t want a warehouse that is too big as this will only result in empty, wasted space. Or one that is too small that cannot accommodate your box inventory.
- Facilities. Does the warehouse provide easy logistical integration for deliveries? Evaluate if their facilities work for your company.
The location of the warehouse determines how easy it is for you to distribute and receive goods. Thus, the location of the warehouse is convenient for shipping goods to your customers. If you are running a smaller business, it is smart to choose a warehouse near your business premise but if you own a bigger business, ask if the warehouse can successfully supply regional demand. Great locations have great transport routes based nearby.
Moving warehouses is labour intensive, especially if you need to shift plenty of stocks to a new location. As you choose a warehouse, think about the longevity that it can provide. You want to ensure you don’t outgrow the storage facilities provided too quickly. Analyse figures which indicate the possible growth of your business before you start looking for an ideal warehouse.
Considering the cost of warehouse space will help you make an informed decision. However, some aspects that are associated with the cost will play a part in your choice. For instance, in case your clientele is based in a central location, you should expect that the warehouse in this area tends to be more expensive than others in another location.