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.

Finding Great Warehouse Equipment on A Budget

Your warehouse equipment, including the storage units, such as the racks and shelves, conveyor systems, railing systems as well as the motorized units, including forklifts and other equipment intended for material handling that you use for accessing your goods are essential for the efficiency of your warehouse, but they can be costly. Fortunately, there are many great ways to reduce the related costs – here are some:

  • Buy second-hand items – used warehouse equipment in most cases comes for a fraction of the price of new items is still in excellent condition, but is still in excellent condition because the reason why they are scrapped is not poor quality, but redesigning or growth;

warehouse liquidation

  • Check out auction warehouse liquidation websites – many auction sites have sections where they sell warehouse equipment and there are auction sites that specialize in such equipment. Many such auction sites sell not only used equipment, but new items as well, all for very favourable prices;
  • Classified ads – you can also find what you need on the sites that provide classified ads. It might take some time to find what you want on ads listings and you will have to browse the new ads every day, but you have a good chance to find what you want for the price that you want it.

 

Keeping Your Warehouse Space Organized and Making Sure You Keep Track of Everything

Staying organized is one of the main issues that large businesses have. If you have a manufacturing plant that requires many different types of resources stacked in a large warehouse, you have to ensure that your workers can access everything fast and deliver all your products to the production line in order to avoid delays.

warehouse liqidation sales

The best way to keep your warehouse space organized is to use large industrial shelves, forklifts to make sure you can access your items safely and some form of pallet racking, so that the first item placed on the shelves will be the first one to be retrieved, thus eliminating the issue of trying to determine whether or not the viability of certain components have expired. To save on costs, you can find quality used warehouse equipment at local warehouse liquidation sales.

Organizing your space also requires extensive labeling. In a large warehouse, every shelf looks the same, and it can be hard for workers to make their way around the place without having a distinctive and detailed labeling system to rely on. Aisles, shelves and individual racks have to be labeled along with the stored packages themselves. Also, labels need to exist to let workers know which items are too heavy to manage by hand and have to be retrieved with the help of a forklift.

Keeping your warehouse organized will ensure that production doesn’t stop and that you can rely on your logistics workers to retrieve all the items that need to be delivered or sent into production on time.