What Is Warehouse Liquidation and How Should You Organize Your Tasks While Getting It Done?

Warehouse liquidation involves the process of dismantling the racks and various equipment used inside a warehouse for productivity purposes. You might have a need for warehouse liquidation services if you’re moving your business to another location, dismantling your entire warehouse completely or having to relocate your equipment to a larger warehouse because of the restrictive lack of space.

When you organize your activities, make sure that only workers qualified to use forklifts and other large pieces of equipment will be allowed on the premises. Also make sure that any employees that take part in the liquidation process are OSHA-trained and capable of handling the work.

The best approach is to hire a professional team of warehouse liquidation experts who know how to handle the work safely and efficiently. They will be able to guide you on how to remove all items from your racks, organize each part of the work and dismantle all electrical installations. They will also take it upon them to take care of dismantling your pallet racks and shelves, so that they can be relocated to the new warehouse (if needed).

Even if you plan to have your employees do all the work so you can save money, make sure you at least call and ask an expert for information and support on the main basics of warehouse liquidation, before you begin.

Best Ways to Get Rid of Excess Stock

warehouse liquidation

In case your business activities are in any way slowed down or disturbed by excessive stocks, there are certain ways to deal with this type of issue.

The thing is, no matter how well-organized your company may be, it will certainly end up with too much inventory at a certain point. That can be the result of unpredicted shifts in marketplace or technological advancements. Being prepared for this situation puts you in a very good place as compared to other businesses that are similar to yours.

Most of the time, you may not be able to recover all your costs. The methods of disposal may be related to the level of your original value for your acquired products.

One good thing you can try is ask for a refund from the part of your supplier. This could be a reasonable option, and you could recoup at least a part of your investment.

You can schedule a cost effective warehouse liquidation event. Gives you an opportunity to unload excess equipment and inventory and improve cash flow, and provides others with items you no longer need.

You could also try and direct your inventory to new products. The thing is, some business have actually created new products from excessive inventory obtained from other companies.

Your competitors could actually become your partners, at least in this particular situation. You could trade certain products with them, while also building relationships that can bring you many benefits in the future.

 

 

How Do You Liquidate a Warehouse?

warehouse liquidation

Sometimes, business plans change. You need to turn property into cash. Or you decide to move your business to another location. Before you can put up the warehouse for sale, you need to liquidate its inventory first.

Here are some ideas to speed up the process without sacrificing your revenues too much:

  1. Create Product Bundles

Product bundles are very popular among consumers. If you offer complementary items together – such as shampoo, hair conditioner and hair mask – with a small discount, the bundles will fly off the shelves. You can also put these bundles in gift packaging, helping clients find a present for their loved ones.

  1. Auction Contents Online

If you speed up the sale process, you can host an online warehouse liquidation auction for the entire lot of inventory. Many wholesalers are looking for good deals, as well as smaller retailers who want a bargain to help them improve their bottom line.

  1. Host Clearance Sales at the Premises

If you don’t want to deal with auction websites, you can organize a clearance sale at the warehouse. In this case, you need to offer attractive deals – buy one get one free, significant discounts, etc.

In the end, you may not recover the full value of the inventory. But any cash you can get is more than welcome to fuel your new business plans.

Pallet Racking Accessories – What You Should Know

If you just purchased some basic pallet racks, you will have to think about how to use them wisely. This is especially important if the racks are somewhat old and you have to make sure that it remains sturdy and stable, while allowing you to organize and secure items properly.

warehouse liquidation

According to warehouse liquidation specialists, some of the most important accessories to consider are upright protectors and similar safety equipment designed to keep your racks stable and prevent injuries. When items are not placed on pallet racks properly, there is a possibility that the rack will become unstable. As a result, upright protectors, corner upright protectors and channel support accessories can be used to promote improved stability.

Chipboards, shouldered shelf bearers and drum holder accessories are also very popular in this day and age. While upright protectors are mainly added to the base of the racks to promote better stability overall, these items are designed to be used primarily on the shelves and racks themselves, especially on the ones that are higher. A drum holder will prevent circular and cylinder shaped bottles, canisters and barrels from tipping over or moving around too much. This is a great asset during earthquakes or while adding and removing items from the rack, as they allow for better stability.

 

 

How to Make Your Warehouse Truly Efficient: 5 Steps to Get There

warehouse liquidation

Warehouse efficiency is a big thing these days, especially among fiercely competing large and medium sized companies. Consider the following five tips for making your warehouse truly efficient:

 

  1. Keep Things Flexible: From operations to storing items, handling inventory tasks and managing labels, warehouse work has evolved greatly in recent years. It’s no longer just about storing goods, but also about loading and unloading speed, accuracy in keeping track and managing items, and the ability to keep up with the changing market.
  2. Technology to Remove Errors: Do your best to implement new technologies and scanning tools to minimize human error and ensure that you can properly keep track of all your inventory.
  3. Use ABC Analysis: Also known as the Inventory Categorization Method, ABC Analysis is a method that places a hierarchy on your most valuable items assigning them to the “A-stock,” which is high priority, big ticket stock. A-stock will always have priority over B or C-stock, so you can make sure to always stock up on the most important items that are highest in demand.
  4. Worker Incentives: Let’s face it, warehouse work can be hard, and if you don’t care for your workers, you’ll find them quickly moving to your competition. Use incentives such as productivity-based bonuses to keep that from happening.
  5. Safety Culture: Respected warehouse liquidation companies insist that regardless of productivity, safety must come first. Creating a safety culture will ensure that your workers are more confident, decisive and productive, as their safety is ensured by accountable and skilled warehouse managers.

How to Find A Warehouse Liquidation Sale

Warehouse liquidation sales are often signs that the local economy is struggling, but they are also excellent opportunities to get machines, racking systems and other equipment that you might need for bargain prices. The items sold at such liquidation sales or closeout sales are usually in great condition, so having a look at what is being sold is always worth your time. Here is how to find out about the sales around you:

warehouse liquidation

  • Specialized websites – liquidation sales websites are great for finding out about the sales available in your area and many of them also provide information about excess inventories available from manufacturers or large retailers. Many such warehouse liquidation websites also have an auction platform that you can use to bid on the inventories or on the warehouse equipment that you need;
  • Word of mouth – if you maintain a good relationship with other businesses, you will surely be among the first to find out about the liquidation sales that you can check out in your area;
  • Keeping your eyes open – keep looking for the Closing down sign wherever you go. Many companies choose to put out the sign rather than announce their liquidation sale using any other type of advertising media.

Smart Ways to Use Warehouse Liquidation to Save a Lot of Money

Warehouse liquidation might feel like a step back. However, in changing times like these, it’s usually smart to cut down on your operations and consider waiting for things to improve before expanding with future investments. That being said, an efficient warehouse liquidation plan can still help you save a lot of money, as long as you play your cards right and do a little research.

warehouse liquidation

One of the things you can do is re-purpose some of the equipment and redistribute it to your other warehouses or locations. If you had already planned to add more equipment to certain areas and operations, then this is the best time to do so without wasting money, and increase your productivity in the process.

You can also think of selling used equipment and tools to get some of your investment money back. Large equipment like forklifts, hydraulics, construction and digging equipment, as well as smaller items such as office furniture, computers and networking devices, can all be sold at a great price either directly or through a dealer.

Once you get through the process of warehouse liquidation, you’ll find that the impact on your company will not even be as bad as you thought, and you can easily manage your remaining resources to avoid being affected by a possible economic crisis.

Space Saving Ideas for Your Commercial Warehouse

warehouse liquidation

A chaotic, overburdened warehouse, in which locating items takes long or, even worse, is impossible can cause huge financial damage to the company operating that warehouse. Fortunately, even the messiest warehouse can be transformed into an efficient space – here are some tips:

  • A thorough evaluation – if your business is constantly facing warehousing issues, the first step towards a solution is a thorough evaluation of the current situation. Take a look at your current racking system, evaluate your picking methods and your inventory management system, then identify the weak points that need to be addressed;
  • Figure out how you could use vertical space more efficiently – your limited horizontal space can be safely and easily enlarged upward. If you have not used palette racking before, think about how you could implement it now; Look for cost saving warehouse liquidation opportunities to find quality warehouse products like shelving at a reduced price.
  • Don’t forget about aisles – the width of the space between the racks is essential for efficient picking, so don’t try to save space there;
  • Don’t cram more into your warehouse than it can take – if you have lots of overstock, you might want to consider getting external storage space for the goods that are not sold that frequently, but that you want to keep in your inventory, nevertheless.

The Services Offered by a Warehouse Liquidation Company

Warehouse liquidation can be a process in a company insolvency procedure, but in most cases, warehouse liquidation services are used by companies that need to restructure their stocks or their warehouse for other reasons, such as relocation or changes in the company’s profile. Here are the services readily offered by a warehouse liquidation company:

warehouse liquidation

  • Handling customer returns in the form of liquidation sales – many retail companies struggle to store and to manage the goods returned to them by their customers. One of the services offered by liquidation companies is help with such returned stock through their platforms;
  • Help with overstocking – many retailers that sell seasonal goods have difficulties dealing with seasonal goods that were not sold by the end of the season. Liquidation companies help retailers get rid of such stocks by helping to create the contact between the seller and interested buyers;
  • Help selling stocks from a closed store – if a retail chain decides to close down one of its stores, the process involves the handling of the store’s stocks, too. If the goods from that store cannot be redistributed to other stores in the chain, the retailer is likely to turn a liquidation company to sell the goods on the warehouse liquidation marketplace.

How to Find Affordable Warehouse Equipment

Efficient, perfectly functional warehouse equipment is essential for the proper operation of any warehouse, machines that no warehouse can do without. However, buying the machines for your warehouse is a huge investment, so here are a few tips about how to find affordable machines without cutting corners in terms of quality:

  • Consider buying used equipment – the second-hand machines available from dealerships come with detailed descriptions, damage reports and a full history, so you can be sure that you will get exactly what you pay for. These used machines also come with warranties;

warehouse liquidation

  • Check out online platforms – you can find many great, reliable online platforms that sell used and new machines for great prices. Many of these platforms are similar to the platforms that publish classified ads – the verified sellers post their listings, then interested buyers contact them to discuss the details. There are other warehouse liquidation websites that are practically bidding platforms – the seller places the ad and specifies the asking price for it, then the auction takes place according to the website’s auctioning and bidding rules, then the machine is attributed to the winning bidder;
  • Check with companies that are going out of business and are selling their assets – they will probably want to get rid of their machines fast, so they will probably accept lower prices.