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4 tips to improve warehouse efficiency

  • Highlights

  • Improve efficiency by organising your warehouse

  • Take measures to ensure warehouse safety

  • Automate processes using tools and technology

  • Manage your godown smartly with a special Warehouse Loan

When you own a warehousing firm then your earnings are dependent on storage space, systems and processes, and how you manage these components. For this reason, your goal should be to minimise costs and maximise profitability by looking into efficiency. With e-commerce growing at an alarming rate, currently worth over $125 billion in India, the demand of warehouses is at an all-time high. Ensuring that you run a tight ship will help you stand out amongst others who provide a similar service.

If you require capital to acquire more space for your warehouse for better organisation or stock adequate inventory, consider opting for a Warehouse Financing from Bajaj Finserv that offers you Rs.30 lakh in just 24 hours without any collateral requirements.

Take a look at steps you can take to structure processes, improving efficiency and in turn your business’ profits.

1. Organise your warehouse

By organising every activity in your warehouse, you help processes run smoothly, save time, and reduce risk. This also makes for better utilisation of resources, increases output levels and improves efficiency on the whole. By defining destinations and pathways for products and people, be it storage, shipping, administration or sorting products, you can avoid a messy warehouse and the impediments that come with it. Next, you can select the best shelving option based on the type of goods you are holding and place items that are high in demand closely in easy-to-reach locations. This will also help improve speed.

2. Pay attention to warehouse safety

Due to the constant movement of articles, warehouses can be hazardous to work in if you don’t take safety measures. Ensure that aisles and passages are clear of any spillage and that shelving units have a rail that will prevent items from falling off. Additionally, provide safety gear and tools to your workforce at all times. Supplement this with proper lighting to avoid any accidents. By making safety a priority, you will be able to keep employee turnover to a minimum and run ensure that your workforce is more committed to doing a better job. This in turn will ensure that you aren’t losing money and time in hiring and training new employees constantly.

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3. Automate processes using tools and technology

Make the most of evolution in technology to improve warehousing. Research the market to see what hardware and software you can purchase to reduce errors, speed up processes and reduce your dependency on manpower. Tablets, forklifts, barcode scanners and RFID tags and readers are examples of tools you can look into. You can rely on a customised Machinery Loan from Bajaj Finserv for this purpose.

4. Collect performance data and use it

By collecting data on how your warehouse operates, you get a better insight regarding what works and what doesn’t work. This allows you to make informed decisions about the activities and procedures that are improving your performance and ones that aren’t adding value. Once you identify what doesn’t work, use the data to come up with possible solutions and replacements. If labelling inventory incorrectly is a recurring problem, for instance, RFID tagging may be solution you need to invest in. So, collect data on time taken to pack orders, location of inventory and bins, as well as frequency of errors to identify weak areas.

These measures will help you expand, grow and improve the efficiency of your warehouse. So, once you decide to dedicate your efforts to this aspect, action your plans with the help of a pre-approved loan as it offers funds instantly with a 1-step verification process that is as simple as it sounds!

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