Finding A Home For Your Retail Business’ Inventory
Issue: Jul 2023
Inventory Control: The Retailer's Dilemma
Managing inventory is a tough albeit necessary battle. As your business grows, your product lines expand and in turn so does the need for storage space. In Singapore where rental costs can be prohibitively expensive, it’s only natural for you to find yourself needing greater capacity. Holiday season, while great for sales, usually come with additional items that can exacerbate the issue of limited space.
How Space Limit Can Affect Your Business Potential
Limited space can make it difficult to store inventory in a systematic and easily accessible manner which can lead to disorganisation. If you or your employees find that there is insufficient space, products may be stored in a haphazard manner. When items that should be in your stock room overflow into customer-facing spaces, your store will look messy, and you may have trouble locating and retrieving items efficiently. This could cause problems like restocking delays and longer customer wait times.
Your customers may also have a less than ideal shopping experience due to clutter. They might not be able to easily find what they’re looking for which causes frustration. Your staff may become overwhelmed with customers relying on them to find items. To enable your staff to focus on other aspects of operations, an organised customer-friendly store is a great place to start.
It’s a good idea to keep your store organised in order to prevent accidents or injuries to your staff as well. Having to navigate cluttered areas or use ladders to reach higher shelves pose unnecessary risk that businesses should avoid where possible.
In an emergency, a disorganised space can be dangerous. During fires or other emergencies, there should be a clear and unobstructed evacuation route. It is every business owner’s duty to ensure this or risk breaching safety codes and regulations.
Why You Should Invest in a Business Storage Solution in Singapore
A good business storage solution can offer your business a myriad of advantages. Here are some of the reasons why you should invest in a business storage solution to help manage your inventory effectively:
- Additional space: If your business has insufficient on-site storage capacity, this can be especially helpful by giving you a place to store your extra inventory, seasonal items, or equipment that you don't use frequently.
- Flexibility: Business storage solutions can offer a high degree of flexibility, allowing you to change to a bigger or smaller unit depending on your needs. This can be particularly useful if your business experiences fluctuations in inventory levels throughout the year or if you need to store items temporarily during a renovation.
- Improved efficiency: You can free up space in your stock rooms, preventing your locations from becoming cluttered or disorganised. This can improve the efficiency of your operations and reduce the risk of clutter and avoid restocking delays.
- Cost-effective: Renting larger retail or commercial space can be very expensive. Optimise retail and commercial space usage by using business storage solutions as an alternate storage for less frequently used document and inventories. Moreover, such self storage spaces usually come with flexible terms that do not require long-term commitments, offering more convenience and ease of use.
- Security: Storage solution providers monitor their premises around the clock, have access control measures, and insurance policies in place. This can provide you a peace of mind knowing that your inventory is secure.
Why StorHub - Your Choice for Business Storage in Singapore
For affordable and flexible business storage in Singapore , look no further than StorHub. With units ranging from 4 sq ft to 2000 sq ft, finding the right size for your business’ requirements is easy. You and your employees can have 24/7 access to your items using a unique pin code, meaning you can move in or retrieve items outside of business hours. StorHub is equipped with multiple cargo lifts and large loading bays to accommodate goods vehicles. Keep your store’s retail environment organised, your operations running smoothly, and your customers happy, by trusting StorHub for your storage needs.
If you are looking for a dependable and secure business storage facility, visit the StorHub website or call 6337 2000 to request a quote today.