What all steps one should take while leasing a warehouse?

by Ankita Sehgal Freelance Blogger, Lives in New Delhi

In this modern era of business, warehouses are a very integral part of the expansion. They are defined as the place for the safekeeping of goods. From storing to securing the goods from theft, the warehouse monitors and controls each and every aspect of the inventory management.

If you are willing to hire a warehouse for the safekeeping of goods, here are 5 things that you should consider beforehand:

What are your needs?

Before deciding on the warehouse, you have to first understand your business’ requirements. After being fully aware of all the features that are required, you can picture the ideal warehouse you require. For example, if your business requires shipping products through waterways, a warehouse near the dock will be more reasonable. Check out several logistics parks in India before making an informed decision.

Where is it located?

A warehouse should not be located too far from the supplier as transporting goods from one place to another increases the expenditure. This can be minimized by taking a manufacturing space for lease somewhere nearby. The same stands for the distance between the warehouse and the client. Hiring a warehouse where most of the clients are located will help to reduce the unnecessary expenditure on transportation. Also, a warehouse that is well connected to major highways and other transportation mediums will prove to be more advantageous.

How experienced are they?

A warehouse service provider that is well established tends to be more competent in their endeavors. They have more capital and resources that allow them to provide better service. Well established warehouses are equipped with better features like climate-controlled warehouses that prevent perishable goods from getting spoiled. Apart from this, more experience allows them to evaluate and implement better strategies and contingency plans.

Goodwill in the market

Before you take up a manufacturing space for lease, enquire about its past experiences. The best way to judge a warehouse service provider is by asking about the organization from its previous customers. Moreover, you can also check for feedbacks online. An organization that cares about its customers and clients has a better reputation in the market and provides better service.

What will be the total expenditure?

Costing is one of the major factors affecting the decision of hiring a warehouse. Apart from storage, there are several miscellaneous factors people overlook that add to the total costing. Calculating each and every aspect and incorporating them in financial planning is crucial to have an estimate of the overall expenditure before leaving the warehouse.