Maximizing Commercial Storage: Improving Inventory Management
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Managing inventory in commercial storage spaces can be a daunting task for any business, but it doesn’t have to be. With the right strategies and tools, you can maximize your commercial storage space and ensure that all of your assets are properly managed. Understanding strategies that can help you optimize your storage space and improve operations is one of the key components of improving operational efficiency. Here are a few of the ways you can improve your inventory management systems and how trusted commercial storage partners can help.
What is commercial storage?
Commercial storage is typically used by businesses to store products, materials, and assets that are not needed on-site. This can include items such as
- manufactured goods
- raw materials for production
- retail items for sale
- and more
It is typically used by businesses in the manufacturing, distribution and logistics industries that require larger volumes of space than what is available on-site at an office building
What types of businesses require commercial storage?
Businesses that typically require external storage solutions include manufacturers, distributors, retailers, and other organizations that need additional space to store their products or materials. Such businesses may also require a third-party provider to manage inventory control and transportation services associated with the stored items.
Commercial storage and inventory management
Inventory management is a key piece of the puzzle when it comes to commercial storage. Properly managing stock inside a storage facility can be the difference between success and failure for a company. Effective inventory management systems allow businesses to track stock levels and replenish items on time, adjust manufacturing and shipping timelines, and even manage distribution channels and order fulfillment more effectively. This is why your inventory management processes are crucial to business success.
How to improve inventory management in commercial storage spaces
Establishing an inventory management process is only the first step. As a business grows, identifying opportunities to expand and improve the system will be necessary to maintain high standards across your supply chains. Try some of these techniques to optimize and improve your internal systems.
Conduct and ABC analysis
ABC analysis is a process used to identify and categorize elements of inventory based on their importance. This can be useful for determining which items require more attention when managing the storage facility and then optimizing your facility layout to make sure those items are
- easy to access and manage
- always in stock
- tracked for bulk manufacturing or ordering discounts
Implement FIFO inventory management
FIFO, or “first in, first out” inventory management is a system where the oldest items are used before newer ones. This can help reduce obsolescence by ensuring that all items are stored properly and tracked to prevent them from becoming outdated.
Implement JIT inventory management
JIT, or “just in time” inventory management is the opposite of FIFO. With JIT, a business only orders what it needs when it needs it. This can help to reduce storage costs and overall inventory waste since items are not sitting on shelves for long periods of time waiting to be used.
However, with post-pandemic manufacturing and shipping delays, more businesses are hesitant to rely solely on JIT inventory models, and instead are turning towards managing their own commercial storage facilities to ensure backstock of products and equipment are always available.
Apply Lean Six Sigma principles
Lean Six Sigma is an approach to improving process efficiency and quality by reducing waste and eliminating inefficiencies. By implementing the principles of Lean Six Sigma, businesses can reduce inventory costs, increase customer satisfaction, and improve overall inventory control processes. Some Lean Six Sigma principles include:
- Continuous improvement – Encourages businesses to make regularly scheduled improvements to their processes
- Standardization – Makes sure all processes are consistently followed
- Streamlining – Eliminates unnecessary steps in the process
- Error-proofing – Ensures that errors are avoided or caught before causing costly delays
Don’t forget your MRO items
MRO (maintenance, repair, and operations) items are often overlooked in a storage facility but can have a huge impact on the efficiency of a business. By tracking MRO items such as parts, tools, and equipment used for maintenance or repairs, businesses can ensure they stay prepared for any unexpected issues that may arise.
How trusted commercial storage partners can help
When it comes to managing a commercial storage facility, having a partner that understands the importance of inventory management is essential. ADSI can help your business manage its inventory more efficiently, reduce costs, and alleviate the stress of sourcing extra storage space on your own. When choosing a storage partner, look for one who offers:
- Secure, restricted access to facilities
- Real-time tracking and inventory management tools
- On-site staff to assist with the organization and management of goods
- A focus on quality control and safety procedures
- Customized solutions tailored to your specific needs
Advantages of Outsourcing Storage
Outsourcing storage makes it easier for companies to manage their inventory without having to worry about the costs associated with running a storage facility. With a trusted storage partner, companies can access secure and efficient facilities that are tailored to their needs, while eliminating costs associated with staffing, training and equipment, allowing you to focus on other aspects of your business rather than worrying about managing inventory.
ADSI offers a variety of solutions that can help streamline your inventory management processes and ensure that your business is able to store items securely and efficiently. Contact us today to learn more about how we can help you maximize commercial storage and improve inventory management. Our team of experts will be happy to discuss your needs and provide tailored solutions that are right for you.