Stock and storage in the business context is a very important part of the transaction cycle. Inventory management is considered easy when using a computer system that helps track the movement of stock. Secure storage for business
As long as it’s kept current, an inventory system keeps your finger on the incoming and outgoing stock, it’s cost prices, sales prices and what the profit margin is made with every sale.
In fact, stock is one of the biggest cost items in a business, normally with the most capital tied up in it. The challenge is to have the right stock available at the right time, as customers are relentless when requiring something they are happy to pay for.
As a result, businesses dedicate a lot of manpower and expertise to the management of inventory, as its availability, security and distribution assume such an important part of their daily activities.
Security is another vital consideration when it comes to stock management. As to be expected, securing stock could be very expensive. Besides the cost of renting a warehouse to store stock, security personnel and security systems are needed, all of which add to the overheads of the business.
At Stop & Store Penrith we are able to meet the storage needs of businesses that require storage for their inventory in the north of the UK. The very accessible location on the A66 just outside Penrith makes the storage facility a great storage and distribution centre for the distribution of goods into the Cumbria and adjacent regions.
Having said this, how does a business expand into new areas and at the same time have good inventory management. Here are some useful pointers to successful inventory management in the case of a remote location for your business.
Organize Your Inventory Correctly
There are different kinds of inventory in a business. We will look at them in due course, and in nearly all instances they need security, stock rotation and replenishment to ensure their correct storage practices.
When we consider the three principles of secure storage of inventory, the first one involves the physical security. By keeping inventory in a place that is difficult to access and takes some effort to reach, away from doors and windows, is a start. The lockability and control and monitoring by the likes of CCTV cameras are the next two actions to be considered. Access should be only allowed for authorized persons.
Self storage units fit into this category perfectly. A professional self storage facility like ours at Stop & Store Penrith is a prime example of what a well organized, secure storage environment can offer. Firstly, the self storage units have controlled access. Unit holders only are the ones that can access their inventory in the self storage units. CCTV cameras monitor the units and the premises, which in themselves are securely behind a very well secured fence. Secondly it is our duty to ensure the safety of our clients’ stock.
Arranging your stock in on a rotational basis is the next piece of advice that we give our clients, particularly if the stock could deteriorate or become obsolete.
If stock has a shelf life these dates must be observed in a storage environment, as if any stock is kept for too long, notwithstanding the ideal conditions that self storage provides, damage may occur resulting in the spoilage of the goods.
Lastly, the replenishment program plays a vital role in inventory management. This process will make sure that the correct inventory will be on hand when the customer orders them.
Self Storage: A Stepping Stone For Bigger Things
Most businesses that choose self storage as their storage option over traditional warehousing do so when first starting out. Self storage is good on the cash flow, and is risk free. No deposit is required and there is no lease to sign. The business is committed to a month-to-month obligation only.
This is a big attraction, coupled with the ease of access that self storage offers, it is an immediate solution that gets you up and running straight away. It’s good for situations where emergency stock or large orders apply. Simply get the extra space at short notice, without committing to the long term.
On top of it all, self storage is highly affordable, and for a business, keeping overheads low, especially as the business is getting established is a real blessing.
The difficulty with this arrangement is the limited space self storage provides, and it could limit growth accordingly. It need not necessarily, as an additional storage unit can readily be rented.
It’s recognized that the management of inventory has to be carefully monitored, and the space allocated to the storage of inventory must grow at the same pace as the growth of the company.
None the less, self storage has helped millions of businesses by solving their inventory storage needs along the way, and have been an excellent stepping stone on the path of growth.
Grow With Self Storage
Besides the advantage of being able to rent a storage unit in multiple locations thereby getting the business roots into many areas, the business also saves money and transport costs.
When the business has a spread of inventory in multiple locations, the inventory tracking system becomes essential to help track the movement of goods, and to flag low stocks so that they can be replenished. Top selling items can be highlighted, so that their sales are tracked in such a way as not to run out of stock.
Stop & Store Penrith is here to ensure that businesses with the need to store and distribute stock in the area are completely comfortable and secure with our storage facility. It is designed with safety in mind. Even booking is a safety feature. There is no need to come to the facility, you can view it online, or simply book remotely.
This can be done by contacting us, either by phone, email, or online through our website.
Go to https://www.stopandstore.co.uk/penrith-storage/ or call us at 01768 800291 when you need to arrange storage for your inventory.