Opening your own warehouse will give you the control your inventory and potentially save big money compared to outsourcing your warehouse needs. However, it will be a challenge to get your warehouse up and going during the first critical months. Below are 3 helpful tips that will allow you to smoothly open your warehouse.
Have a Smart Way to Track Inventory
When you open and operate a warehouse, you will have to become a master at tracking your inventory. Even large companies such as Amazon lose hundreds of millions of dollars each year due to lost inventory. Therefore, you will want to have a tracking system in place before you open your warehouse. The first thing you need to do is determine what type of tracking system you will want to use. There are a number of companies that specialize in an inventory tracking software. Second, you will want to make sure that you and your team are properly trained on how to use the inventory tracking system. Finally, you will want to make sure that the inventory tracking system will be able to scale and grow with your business.
Rent the Right Equipment
In order to properly set up your warehouse, you will need to rent equipment to set up your shelving system, move inventory and promote efficient operations. Some of the equipment that you will need includes cranes, rigging, trailers, trucks, mats, wheel loaders, forklifts, skid steers, and heavy lift products. It is a good idea to work with an experienced and reputable equipment rental company that can help you get the right equipment for your needs.
Ensure You Are in Compliance
The last thing you want to do is spend a large amount of time and money only to realize that you have a number of safety violations in your warehouse. Make sure you hire someone who understands the workplace safety and compliance regulations. Your safety and compliance officer should be onsite during the warehouse opening process to ensure that all safety codes are met and that the warehouse in complete compliance.
Setting up your own warehouse is one of the smartest investments that you can make for your business. By having direct access to your own inventory, you will have better control over your business operations and profit margin. Follow the above three tips and you will be well on your way to opening and operating an efficient warehouse.
Emma is a business strategist-turned blogger. She lives in Auckland, New Zealand. Emma is a passionate traveler and yoga aficionado. She is in love with coffee, interior design, books, and good vibes. 🙂