For warehouse storage to be profitable it has to be productive. By keeping the warehouse space working efficiently, one can be rest assured that it can yield maximum returns.
1. Optimum utilization of available space: Consider optimum use of vertical space; add taller space units and the right equipment to pick and store material that can help keep more in the same square footage.
2. Safety measures: Safety is the top priority in the warehouse as without smart safety aspects one faces the dangers and accidents that lead to inefficiencies and loss of profits. Not considering not investing in warehouse safety measures might save you money in the beginning but the accidents are costly.
3. Effective front-line leadership: The best managers are leaders who thoughtfully plan, monitor and manage all the aspects of fulfillment. They have skills to recognize and address new issues. Warehouse with managers will have good efficiency and productivity.
4. Lean warehouse operations and practices: One of the most important warehouse efficiency tips is to implement lean warehouse practices. It is all about minimizing the waste and maximizing value. It can be applied to every aspect of the warehouse from how you receive and store inventory to how orders are fulfilled. Lean warehouse practices can be implemented by warehouse layout, ordering less product more often, employee training and process improvement.
5. Quick turnaround and fast shipping: Consumers expect their orders to be shipped quickly and efficiently in today’s fast-paced world. With warehouse set-up for fast shipping, the business can please their consumers and receive more business. A well-organized warehouse with clear labeling and streamlined picking process improves its productivity.
6. Thorough employee training process: Employees are the pillar of the warehouse. If they are not trained properly or if they are not knowledgeable, warehouse will not run efficiently. So, it is important to invest in thorough employee training process that covers everything from how to receive and store inventory to fulfilling the orders.
7. Omni channel warehousing: Today in the digital-era many consumers prefer to shop online. With Omni channel fulfillment, business will be able to serve these consumers better. It is therefore important that Warehouse storage of the business is equipped to handle multi-channel orders. This kind of warehousing requires good co-ordination between warehouse and other departments within the company.
8. Efficient organizing of inventory: One of the best ways to enhance the productivity of warehouse is to organize the inventory efficiently. It means there should be a good system for storing and retrieving inventory. Some of the smart methods of warehouse organization are product categorization, warehouse management software and more.
9. ABC method: ABC analysis method is the most popular warehouse organization method for optimum management of the inventory. This involves categorizing inventory in A, B and C group. Group A items are costly and do not often sell but have great profit margins. Group B items are in-between items that sell more quickly than A but do not have good profit margin and Group C items are the highest selling with lowest profit margins.
