When your business grows, it will demand expansion in all aspects. The expansion of the business means more costs to you and you will also face more risks either internally or externally. The greatest challenge that you may face is in terms of the storage of your products which form part of your stock. Expansion of your premises may be difficult if you are situated in a crowded location where chances to expand are dismal. Also, it may be extremely expensive to acquire a piece of land, especially in a prime place to build a warehouse for the storage of your products. This demands you to select a storage facility that will enable you to keep your merchandise safely and retrieve it whenever it is needed. These are the factors you must consider before selecting the storage facility.
The first consideration is the safety of the storage facility. Safety carries a broad approach from the physical security of the place to the safety of the products you choose to store your goods. You must choose a storage facility that is well guarded by the security personnel and security equipment to minimize the cases of theft that may arise in the premise. Ensure the storage facility is also fitted with fire controlling equipment to minimize the risks of fire which may cause huge losses when it occurs. Additionally, depending on the nature of the products you choose to store in the facility, ensure there are specialized storage equipment such as cold rooms and refrigerators for perishable products to avoid any form of losses. As a precautionary step, select a storage facility that is insured so that in case a risk occurs, you will be compensated by the insurers.
The second factor to put into consideration is the accessibility of the storage facility. You must choose a storage facility that easily accessible by most means of transport be it road, water or air. This consideration comes in handy whenever your goods are needed urgently. When there is high demand and your stock is low in your store to meet the market demand, you can easily access your products from the storage facility and meet the market demand without any delays. Choosing an easily accessible storage facility also gives you a chance to visit it more often and monitor the condition of your goods. Constant monitoring od your goods ensures that they are well kept and reduces the chances of losses that may occur when goods are mishandled within the storage facility.
The third aspect you must consider is the ease of clearing your products from the storage facility. In this case, you need to select a storage facility that will clear your goods to leave their premises in the shortest time possible. Always consider their policies when it comes to clearing goods so that you are not inconvenienced when the need arises. Some storage facilities may require prior written request before they process the clearance of your goods. This may work against you when goods are urgently needed to meet the market demands. Therefore, settle on a storage facility that will clear your goods in the shortest time possible to enable you to meet the customer needs.