Choosing a Warehouse Location
Kickstarting your business or revolutionizing the way it works comes down to proper planning. There is no sense in pushing production if you do not have a safe and organized way of storing your product. Selecting a warehouse location is a crucial step toward making sales, but this process comes with a fair share of decisions to make along the way.
Warehouse Location Decisions
Before finding the perfect warehouse location, you must ask yourself an important question: Do I plan on buying a warehouse, or will I be renting? Keep in mind that both renting and buying typically include a cost per square foot. You also want to look at your plans for the future. If you want to stay in the same area for a while and want to be able to customize your location, buying may be the best option. However, renting a warehouse space can give you more freedom to expand, shrink or change locations depending on business growth.
Additionally, you need to consider cost when selecting a location. Whether you decide to purchase or rent a warehouse location, try to factor in the cost of taxes depending on the regions you seek. Saving money upfront gives your business the option to funnel savings into expansion efforts.
What Are Key Warehouse Location Factors to Consider?
Aside from purchase or rental costs, consider where your customers are located. Finding a warehouse location that fits in the pocket of your customer base carries the potential for easier access to merchandise and even quick delivery times. It can also reduce shipping costs since the distance to the delivery destination is shorter.
A warehouse location that sits close to customers and your manufacturer is ideal. When your manufacturer is close to where you store inventory, you and your customers benefit from this proximity. How to choose a fulfillment warehouse location will boil down to your customers, manufacturer and product.
How to Choose a Fulfillment Warehouse Location
Take a look at your product and any safety precautions that might surround it. Under a certain circumstance, is your product breakable, flammable or temperature controlled? The right warehouse location should suit the customer as well as the product you are storing. Factoring in the size of your product and how much you will need to store will help you with your search.
Also, think about the travel time to and from your fulfillment warehouse location. Can product deliveries stay on schedule based on traffic flow? Along with this, how long will your business be at this location? Does staffing offered here meet demand?
Warehouse Location Mapping
If possible, it is ideal to select a warehouse location that includes custom location mapping technology. Following Finale Inventory gets you out of outdated Excel spreadsheets and gives you your own software solution.
Designed to scale with your business, Finale Inventory has multi-location support and is a lightning fast, scalable and highly adaptable inventory management system for warehouse management and e-commerce businesses.
Matching inventory management needs with e-commerce storage, Finale Inventory assists in picking and receiving orders, handling serial numbers, shipments, returns and barcode creation. Each new account is assigned a customer relationship manager, so be sure to sign up for your free trial today!