The warehousing and storage industry is one that is expanding and ever evolving. With annual rise rates of 2.1% expected for the next 5 years the industry is set to reach 14.3 billion in 2019-20. Growth is expected due to economic acceleration. Increases in manufacturing activity, particularly that of retail sectors, which are predicted to increase by 3.4%, alongside the rises in merchandise exports and freight task amongst others will all contribute to increasing demands on storage and distribution services. Positioning your warehousing and storage business to thrive is vital to success and has never been easier than with our top tips on growing your business.
1. Increase and utilise your capacity
Contact a space management specialist to review your storage facilities and operational systems. By maximising your companies available footprint and building height, specialist storage systems and innovative space-saving ideas utilise invaluable space avoiding costly relocation, enabling your to enlarge your capacity and increase your operations.
2. Offer new services
As well as general storage consider offering other aspects of the supply chain. The engine of the real growth in this industry is set to be seen in companies that expand to become distribution centres providing order preparation, quality control, picking, handling and delivery. The online shopping trend is set to continue and increase and with between 10 and 30% of all online purchases being returned, centres that offer order Integrated logistics such as waste management, reusable packaging and customer returns will have a competitive advantage
3. Provide specialist storage
Product related storage designs and innovative technology such as barcode readers, radio frequency identification (RFID), automated tracking systems and voice-activated picking systems all hold a competitive advantage.Specialist storage and bespoke designs ensure valuable stock is stored correctly, safely and with optimum efficiency, whilst product related storage enables you to target niche markets. Look for storage solutions and ideas that are ‘out of the box’ not out of a box.
4. Speed up productions
Are your operations efficient? Can stock be easily managed and accessed? Can picking and handling machinery such as forklift trucks enter and exit with ease? Installing a warehouse management system can increase operational efficiencies and enhance your customer service. Ensuring your operations flow quickly and smoothly are part of making a good company great and creating a higher turnover of items and business.
5. Reduce your carbon footprint.
More and more of us are be becoming increasingly environmentally aware and are taking into consideration the environmental ethos of businesses when choosing service providers. Consider offering recycling and reverse logistics to customers and wherever possible try to use other British companies. In doing this you can expand your services and boost the local economy, shortens journey lengths, speeds up delivery times and reduces your companies carbon Footprint.
Whilst saving yourself time, money and providing quicker turnaround times for your customers, you’ll also be saving the environment – perfect!
Scotton, R. (2014) IBISWorld Industry Report H52.100 Warehousing & Storagein the UK. IBISWorld
4 ibid p.8
5 ibid p.6