Optimizing your retail store capacity is a complex task that you need to figure out as soon as possible in order to increase the efficiency of your retail store. The way in which you handle these supplies will help save time and labor, as well as allow you to save money by ordering units in bulk more efficiently. Here is how to optimize your retail storage capacity.
Inventory management software
The first thing you can do is to move your inventory to 2019. The best way to do so is to invest in an efficient inventory management system. There are a lot of free and open source tools out there that you should consider if you’re on a tight budget. This way, you’ll not only have a better insight into the current status of your inventory but also get an in-depth predictive analysis about the items that are best-sellers and those that aren’t really that hot. The benefits are numerous and one of them is also a discovery and prevention of employee theft which is a serious problem with the retail industry.
More efficient shelving system
The truth is that your storage is only needed for those items that you can’t display in a store. This is why improving your organizational abilities and exploring options like vertical storage space also improves your storage capacity. Keep in mind that not all items need to be reachable by your customers. Some can be displayed up high and if the customer expresses a desire to buy or inspect them, your staff member can get it for them. Also, keep in mind that not all items are on display both in your retail space and your storage. Therefore, with an improved shelving system, you can achieve quite a lot in this regard.
Alternative display methods
When it comes to displaying items in your store, you’re not restricted to shelving. Some items are stackable and there are some stores that excel in creative stacking. The best way to proceed here would be to look up some ideas online and try being realistic about your ability to properly recreate this idea. With enough time, patience and creativity, you can use your display method in order to decorate your store and even help with its branding.
Don’t neglect the high-traffic areas
When planning the layout of the store, keep in mind that people need to move around in order for it to be efficient. This is not just important for the retail area but for the storage, as well, seeing as how your employees need to be able to move and navigate these corridors. Keep in mind that these corridors need to be wide enough for you to push trolley or even operate a forklift through. This may somewhat complicate the situation.
Getting the right equipment
In order to increase the efficiency of the supply handling in your storage, you might want to consider investing in reliable materials-handling equipment. Now, the above-mentioned forklift might be a bit of an overkill for the majority of small and medium-sized retail places but a reliable trolley is a must, as well as a bare minimum. Also, you need to instruct your employees on how to use them safely and efficiently.
Organization and labeling
The key part in your storage organization lies in knowing what’s what and where you can find a certain item when you need it. An organization that makes sense benefits everyone and the best way to achieve it is to get a quality labeler. This way, you don’t have to rely on handwriting (which some people might not be able to read properly). This also helps you make an efficient labeling system, instead of just doing this on random when you feel the need for it.
The last thing you need to understand is the fact that for this to work, the size of the place needs to be big enough so that it doesn’t restrict your potential. Even with the most extraordinary organizational abilities, there’s only so much room you have at your disposal and if you’re not satisfied with the end results, no matter what you do, you might want to consider a relocation. Still, this method should only be used as a last resort and there are so many things that you can do first. The above-listed six ideas are just the tip of the iceberg.