The current economic climate is no doubt putting the finances of businesses across the world to the test. 92% of UK companies admit feeling under pressure due to the rising cost of bills and raw materials, meaning they are trying to find effective ways to make ends meet.
What’s more, almost one-third of businesses have witnessed a decrease in sales in recent times, with more and more consumers keeping their spending habits in check to navigate this period of financial uncertainty.
In response to these trends, many companies have had to resort to some non-ideal measures. These include actions such as financial cutbacks, absorbing the costs themselves, or increasing the price of their services or products.
However, one of the most effective ways for businesses to save costs in their day-to-day operations is to implement an optimised storage solution. How? Cleveland Containers, a leading shipping container expert that supplies to more than 500 self-storage operators nationwide, reveals some of the cost benefits of making the most of your business storage.
Space utilisation
One of the best advantages of implementing an optimised storage solution is that it allows you to truly maximise any available room within your workplace, warehouse, or construction site.
Andrew Thompson, Chief Executive Officer at Cleveland Containers, said: “Optimising your company’s storage space can work wonders when it comes to saving precious money.
“By utilising every square foot cleverly and efficiently, you can reduce the need for expansions and additional storage facilities that, in the long run, can put a significant dent into your finances.
“For example, using 10ft, 20ft, or 40ft containers to store your equipment or products can be a great way to maximise your space. Because all shipping containers have standardised dimensions, they can easily be placed one on top of the other, allowing for efficient stacking, storage, and space-saving efforts.”
Improve inventory management
Having an optimised storage solution in place can also facilitate your inventory management practices, from space allocation to stock tracking and rotation. This will give you the chance to keep a real-time record of your inventory, preventing unwanted issues such as stockouts or overstocking.
Both situations can have an impact on your organisation’s pockets. If you are overstocked, you might end up wasting money, especially in the case of perishable items. If you aren’t stocked enough, you might miss out on valuable business and lose revenue opportunities.
As well as helping you run your operations smoothly and with more confidence, optimising your storage solutions can save you precious money and enhance your profits.
Using something like a tunnel or side opening shipping container offers more entry points, making it easier to access stock at short notice or that might be at the back of the unit.
Reduce damage or loss
Investing in reliable storage solutions can help you protect your goods, products, and equipment from avoidable damage or loss, as it minimises the risk of items being mishandled or stolen.
In fact, replacing tools and items that have broken or gone missing can be a significant expense. So, having somewhere to keep your belongings safe is a simple, effective step to keep costs down and ensure everything is kept in tip-top condition.
Thompson added: “If you are considering shipping containers as your business storage solution, rest assured that cargo containers are a sturdy and durable option.
“Made with steel and built to withstand any type of weather condition, shipping containers provide your products and equipment with a secure environment, exponentially limiting the risk of damage or theft.”
Energy efficiency
Although gas and energy prices are expected to go down over the summer, utility bills in recent times have been causing headaches to businesses and households alike.
In this respect, optimised storage solutions and containers can be modified to feature energy-efficient extras, including LED lighting, air conditioning units, and motion sensors.
The good news is that these technologies are able to actively reduce energy consumption, which – as well as contributing to your sustainability goals – can lower the cost of your bills at the end of each month.
On top of driving your eco-friendly efforts forward, optimised storage solutions can cut down your energy expenses, leaving you with extra money to invest in other areas of your business.
There is no hiding that, in the current cost-of-living crisis, every penny counts. With the aid of optimised storage solutions, though, businesses of all shapes and sizes can streamline their operations while also cutting down on unnecessary expenses and maximising their earnings.
From improving inventory management and space utilisation to reducing energy bills and potential damage to products or equipment, optimising your storage plan can help your company navigate these turbulent times with a more healthy-looking bank account.