As we know, in the manufacturing world, most packaging is sent and stored weeks before it’s actually needed. Many businesses are overholding packaging stock by around 30%+ without even realising, leading to wasted warehouse space and money you can’t make back yet, in unused materials. But don’t worry, there is a solution.
If you’re holding weeks of stock onsite, you’re likely dealing with two things:
• Space that’s constantly under pressure
• Cash tied up in inventory you’re not using yet
For many businesses, this becomes the norm until it starts limiting how efficiently the operation can run. Often, a company will receive packaging several weeks before they actually need it, which quietly takes up space and money without giving any immediate benefit.
The real issue isn’t how much stock you hold, but when and where you hold it. You don’t necessarily need to reduce your overall stock, but changing the timing and location of stock when it is ordered can make all the difference.
Our guide looks at three simple ways to do this, showing how some small changes can easily be put into practice at your company.
Get practical ways to free up space, reduce tied-up cash, and take control of your stock.
