Leasing commercial property can be hard. If it’s your first time running a warehouse, leasing retail space is the easy part. Now you have to worry about properly managing the space and the way that you store your products. Determining warehouse space needs and how to properly utilize the space is your top priority. Question is, how do you get started? Here are five tips for how to better manage your commercial leases.
- Organize Well
You must make sure that your organization is as efficient as possible. Tons of problems can happen if you haven’t organized to the very best of the space’s ability. New products won’t be placed in the right areas, employees will get lost in the maze of your products, and you’ll lose money.
Some ways to fix this is to recognize what are your high sellers. Once you know that you can move the items closer to the shipping area. Your employees will have an easier time finding them and will respect you for taking the initiative. In order to find out what your top seller is you can use a tool like SkuVault’s Reporting Feature. This tool collects data like brand, class, and supplier in order to show you patterns that will help you stay informed about what’s making you a profit.
- Create A Solid System
Adding onto that is the need to create a system that works well. As soon as products come into the warehouse they should be inspected. After that, it is imperative that those same products are then sent to the right location immediately. Also, if the system that you’ve created needs sprucing that’s ok. In fact, that’s great! Improving on any kinks in the system can make for a more efficient and productive work space.
- Warehouse Safety
Also, it’s important when you’re leasing commercial property that you keep the space as safe as possible. Make sure that the warehouse is well lit so employees stay alert. Accidents not only harm your employees and their morale, but also harms the workflow and thus the efficiency of your business. Keeping your skilled employees safe also keeps your business safe.
- Train Your Employees
Speaking of your skilled employees, it’s best to utilize them well. Make sure that the people working for you are as capable of the task as possible. Train them to be well rounded workers so that if an employee is incapable of working his or her coworkers can take on any missing responsibilities. Also, have the more experienced workers work the floor when possible. These employees can spot possible mistakes or errors in the warehouse that other operators may have overlooked.
- Enact Quality Control
When leasing commercial property you want to make sure that there are as little mistakes being made as possible. While having senior employees double check is one way to go about this, there are also times when you will need to do the double checking. In fact, it would be a great idea to enact quality control, which is double checking your orders. By doing so you can verify the correct SKU and quality as well as make sure that the condition of the product is good. If you can’t do it yourself one of those experienced employees will do.
This is almost a necessity, because if you don’t double check orders and make a mistake you are out to lose a lot of money. Typically, it can cost more than $100 to send a product for a second time after a mistake. This is usually more than twice the amount it took for the first shipment. That means that every time you make a mistake you are in fact doubling your loss. To combat this issue you simply have to make sure to implement quality control. You must make it a policy to double check orders in order to make sure that you don’t lose money for any unnecessary mistakes.
Use these tips to help make great use of the commercial warehousing space you’ve rented. While yes, leasing commercial property is the easy part, properly managing the space doesn’t have to be backbreaking. With a little effort you can properly use the space you’ve rented and hopefully ensure you stay in the green.