While every business is excited to witness the growth of their sales, this also means more challenges up ahead – one of which is running out of warehouse space to keep up with the demand. Warehouses can be expensive, and every square inch of space costs money and time to manage.
Often, a warehouse has a smaller space than the capacity required since it helps to reduce the overall carrying cost of inventory. Facility managers have to search for creative solutions to maximise floor space utilisation and optimise storage capacity – which will be explored further below.
Calculate stock levels
In order to ensure optimal inventory management
, minimum, maximum and average stock levels go hand in hand with efforts in maximising your warehouse space. Knowing your stock levels allows you to identify SKUs that are kept in excess and beyond their average requirement rate. This means more warehouse ground space is being consumed – and they could be sitting for a long time if they are slow-moving. As such, calculating your stock levels and storing optimum inventory levels are crucial in maximising your space.
But if you are looking to physically expand your warehouse, our property at Space @ Tampines offers warehouse spaces for rent
ranging from 2,629 to 10,683 sqft with bare furnishing, sprinklers, 6-metre ceiling height and 15kN/m2 floor loading capacity. This industrial property is accessible via TPE, making it a favourable location by businesses that require warehouse logistic needs including delivering of products around Singapore. At the ground floor, there are numerous interior design and home furnishing companies that serve the public, thus bringing a good volume of customer footfall. It is also in close proximity to nearby industrial estates at Changi, Seletar and Loyang which provides an ideal business space solution. Season parking is available for cars & motorcycles, and the nearest train stations are Tampines and Pasir Ris MRT for daily commute. Other amenities include 40-footer access to ground floor loading bay, wide ramp-up, 24-hour access & CCTV, and heavy vehicle parking.
Adopt vertical storage solutions
Since you’re working with a limited floor space, it is possible to turn to expanding your capacity vertically. With vertical racks, they can be moved seamlessly like modular blocks so you can determine the capacity you need. They are useful for storing lightweight or non-fragile goods as well as slow-moving and seasonal goods to save ground space. If possible, you can also consider mezzanine floors to double your inventory space, especially for fast-moving goods.
Embrace organised chaos
You might have heard a lot about the importance of an organised warehouse – but chaotic storage is the exact opposite, and it works best with the help of an integrated database and RFID devices that provide real-time inventory data. This approach is adopted by Amazon, the world’s largest online retailer, allowing its order fulfilment rates to be sustained without necessarily increasing its warehouse space.
Under chaotic storage, the shipment of goods is placed into the closest available storage locations as they come, hence removing the need for a dedicated space for different categories of items. Pickers are afforded with maximum flexibility and agility in picking goods. Of course, this method will only succeed with proper planning of inventory levels and adequate warehouse technology.
To help with fluctuating demands especially during peak periods, you may wish to consider an additional warehouse storage rental. Our property at Tuas Vista has a strategic location which is designated to be the next mega container port for Singapore, ideal for tenants specialising in engineering, construction and logistics. It is accessible via AYE, with close distance to Tuas West Rd MRT station and Tuas checkpoint. This 6-storey industrial building has warehouse units ranging from 50 to 485 sqft with 3.5-metre ceiling height as well as a factory space at 3,821 sqft. To support your operations better, there is also a small office for lease
at 510 sqft within the building – suitable for ancillary purposes. Other facilities include 2 cargo lifts, 3 loading bays, 24-hour access and season parking.
Our special offer is back again for a limited time only! Enjoy 50% off rental for selected properties including offices, warehouses and industrial spaces when you sign up before 31 March 2021. Terms & conditions apply.