Inventory management and stock-keeping are key aspects to help you stay on top of the demand and supply in the market for successful business operations.
Warehouse operations typically involve picking and storage of stocks – and in order for your business to operate at optimum speed and efficiency, it’s vital that you rent the right warehouse to achieve your objectives and meet your needs. Given its importance, we share 4 tips on what to consider before you decide on the warehouse for rent.
1. Business requirements
You have to consider what needs the warehouse has to fulfil. What requirements do your business have? Most certainly, the facility will need to hold an immense amount of stock to keep up with customer demand and orders.
Consider the amount of stock and the size of these items. Think about how can they better fit inside the warehouse and stored on the shelves and racks. Along with the size of the facility, you have to think about accessibility. Check for the number of loading bays are available to support your fleet of delivery trucks and ensure your delivery process goes smoothly.
Furthermore, look at the overall layout of the interior. Do you need a separate small business space for rent or can you allocate space within the warehouse to cater to admin functions? Bear in mind how you will manage inventory from within the facility.
2. Security and access
When deciding between warehouses, you have to consider the facilities of the property, such as security access and systems. It will provide you with a peace of mind over the safeguarding of your inventory.
Some warehouses provide card access so you can enter the premises round-the-clock. There are also security guard posts which will monitor and record visitations from anyone without proper authorisation.
Our property at Soon Wing Road includes security facilities which can benefit your business without incurring extra costs. Units available here are suitable for B1 light industrial, warehouse and ancillary office in Singapore. This 8-storey B1 industrial building is located near popular commercial spots like Genting Lane, with accessibility via CTE and PIE. There are 5 units available for rent – ranging from 400 to 1,100 sqft and equipped with window, lights and aircon. Facilities and amenities of the property include shower facilities, 3 loading bays, in-house canteen, 1 complimentary season parking, 24-hour access & security guard, and 5-min walking distance to Mattar MRT.
It is crucial to determine the rental costs involved so you can factor it into your budget. Additionally, there are also other aspects to consider such as operational costs, transportation costs and other service costs. These are evaluated based on the proximity from your warehouse to your clients and markets.
The location is key, so you can position your products to be close to customers for cost-effective and timely delivery. Labour costs are also factored in to ensure operations are efficiently managed for order fulfillment. The chosen warehouse should have the capacity to operate accordingly to your business needs.
4. Future business plans
Your warehouse space has to constantly adapt to meet evolving consumer expectations. Consider your short-term and long-term planning of expanding your business. This can accommodate future business growth and scale up your operations. Renting a warehouse is the first step to securing your business’ growth for the future. Having enough warehouse space for all your products will maximize all ventures for long-term prospects.
One warehouse that can fit the bill for bigger space is our property at Space @ Tampines. Located at 18 Tampines Industrial Crescent, this ramp-up property has close proximity to neighbouring industrial estates – ideal for companies in clean & light B2 industries seeking industrial spaces for rent. With easy accessibility via TPE & PIE, businesses can expect to improve their delivery processes with better connectivity. Suppliers can also consider this space as it is conveniently located opposite Courts Megastore and IKEA. Units range from 1,247 sqft to 13,671 sqft with attached toilets, 6m ceiling height and floor load of 15 kN/m2. Facilities include wide ramp-up, 40-footer accessibility, 6 loading bays with dock levellers, heavy vehicle parking, 24-hour access & CCTV, and season parking.