Whether you own a small retail store, restaurant, or real estate agency, inventory storage plays an important role in your business’ success. Well-organized business storage can make a big difference to both your bottom line and business operations.
Even if you have limited space and budget, there are creative ways to store and manage your inventory as the business grows.
Curious about what those inventory storage ideas are? Read on.
5 Tips for Inventory Storage
For a small business to function, your employees need easy access to products, supplies, and other resources within your inventory. Through diligent inventory management, you can keep your business organized and running smoothly.
Some inventory organization ideas to consider are:
Stock and Organize High Demand Inventory
A great way to stay organized with your inventory is to make sure you have backup on hand that’s organized and ready to use or sell when needed. Whether you stock up on backup supplies for your restaurant or product for your online store, we recommend making sure you have a designated, organized place to keep this excess inventory.
Apply the Pareto Principle
It’s important that your best-sellers are on hand, easily accessible, and not stored away. When you do this, consider the Pareto Principle, which states that “80% of the company’s sales volume is attributable to only 20% of the products in the product line. If those products are stored in a warehouse as inventory, then that superstar 20% of the product line should occupy 80% of the warehouse space.”
So, review your sales numbers and set aside the items that need to be nearby and easy to reach.
Organize the Items You’ll Keep On-site
For on-site inventory, consider applying one or all of the following storage methods wherever they’re appropriate:
- Block stacking – Palletization is a useful way to free up storage space, particularly if you have identical sales merchandise or inventory that will be quickly used. It costs practically nothing but provides convenient access to items at the bottom of the stack.
- Shelves and bins – There are a variety of shelves and bins to choose from—some stationary, others mobile. These include aisle savers that can be slid or arranged to best fit your storage needs.
- Racks – Storage racks are helpful ways to keep inventory organized without having to block-stack them. According to the Small Business Chronicle, “How you design racks is tied to whether you employ last-in, first-out or first-in, first-out inventory management.”
Create a List of Items That Can Be Stored Offsite
There may be inventory and equipment that must be kept but aren’t used on a daily basis such as files and documents. Or you may have excess inventory during peak seasons. Compile a list of these items and then separate that list according to whether the inventory can be boxed or needs to be stored via shelving.
Once that’s done, you need to find the right storage unit.
Find a Business Storage Unit
Self storage is the easiest and most cost-effective way to store your business inventory off-site. As you look for the right unit, consider the following factors:
- The size of the unit – A premier storage facility will offer businesses a range of storage unit types and sizes to pick from. Although it may depend on the storage location, common sizes include:
- Small Units – 5×5 storage unit* to 5×10 storage unit*
- Medium Units – 10×10 storage unit* to 10×15 storage unit*
- Large Units – 10×20 storage unit* to 10×30 storage unit*
Aren’t sure what size unit you’ll need? Check out our storage size guide for help! If you have a work car, truck, or boat, there are also units that can accommodate those items.
- Accessibility – When you look for a self storage unit, it’s vital that you have easy access to the unit. A modern facility should have wide driveways and plenty of ground floor drive-up units for easy loading and unloading. If the storage unit is inside, wide elevators and free courtesy carts are must-haves.
- Features – Storage units can come with a variety of important features that help with both inventory management, access, and security. These include:
- Helpful concierge service
- Security that limits access to the facility
- Climate controlled units
- Wine storage
- Moving supplies
- Daily access
Once you secure a storage unit, you’ll want to make sure you store your inventory with accessibility in mind. To ensure easy access to your business inventory, you’ll want to pack your storage unit appropriately. For tips on storage unit organization, check out our guide on How to Pack a Self Storage Unit.
Business Inventory Storage with Price Self Storage
Self storage is the best way to streamline and organize your business’ inventory management system. Whether you need a place to keep regular inventory, seasonal and excess inventory, or need a place to stock product for your online store, Price Self Storage is your storage solution.
With more than a dozen convenient locations scattered across California, a range of storage options, a host of features, and affordable prices—we are confident that we can meet all of your storage needs.
Interested in freeing up inventory space for your business? Let us help you live a life uncluttered. Call us or go online to rent a storage unit for your business today!
For more self-storage information, check out our top storage unit tips.
Investopedia. The Pareto Principle. https://www.investopedia.com/video/play/pareto-principle-8020-rule/
Small Business Chronicle. The Types of Inventory Storage. https://smallbusiness.chron.com/types-inventory-storage-72662.html