If you set out to find the right warehouse for your business, you will come across many lucrative opportunities. But, will it be the right decision to select any prospective warehouse? How would you judge and confirm your decisions for choosing the best warehouse in Kolkata? Certainly, the task is challenging when there are many options available. That is why we have identified six easy-to-follow steps to make the right choice. Read the information carefully to guide your team in finding the warehouse perfect for your business.
1. Sort Out Your Requirements
Before accessing any warehouse services, you must clearly know your key requirements. Do you want to store inventories? Do you need transport support? Will you utilize the space for production and support services? Answering all these questions is critical to understanding what type of warehouse you require in Kolkata.
Many businesses opt for shared warehousing, where they will utilize the space at a much lower cost by sharing electricity, water, transport and other facilities with different businesses accessing the different parts of the warehouse. However, it is not rare to find businesses which require dedicated warehousing facilities where the businesses will solely be responsible for available resources, facilities and amenities. The cost of accessing dedicated warehousing services is higher than that of shared warehousing services.
2. Check Out Feasibility of Location
Is the warehouse connected to the ports and local markets? This is crucial for making your business successful. If the warehouse facility is well connected with the nearest airports, railways or ports, you will get different options to choose the best easy to transport your products. It will reduce overall transportation, order handling, and delivery costs.
Similarly, if the warehouse is well connected with the local market, the cost of procuring resources diminishes significantly. You can easily source trained human resources for your business. You can also access the required food and water supply to sustain your operations for the long run. If the cost of accessing the basic resources becomes high, making a profit from warehouse operations can become difficult to achieve.
3. Cost Plays a Significant Role
The cost plays a pivotal role in choosing the right warehouse in Kolkata. There are various factory spaces for sale in Kolkata. But how much are they transparent in disclosing the cost structure and financial planning? You must know each and every cost you would be paying for accessing the warehouse facility. If you do not see any long-term future for your business, we advise you to refrain from investing in accessing warehousing services. Otherwise, you must have a financial plan in check to plan for the prospective factory space you would buy.
But, you should not undervalue quality while assessing the cost of procuring a warehouse facility. Today, you can get various financial facilities such as bank loans, leases and other options to procure warehouse services. It makes the process easier to focus on scaling the business, offering better services, enhancing competitive advantages and outperforming competitors. So, choose the best warehouse services in Kolkata wisely while considering cost as a key parameter.
4. Safety And Insurance Comes With High Priority
The prospective warehouse service provider in Kolkata must have required safety and security measures which are aligned with your business needs. Check their safety and security provisions before finalizing any contract. In case you find any gap in their safety and security measures, you must consider other alternatives for accessing warehouse services.
While investing in warehouse services, you must not compromise on quality. You must check if the warehouse facility is completely insured. You should read all the documents carefully so that there does not arise any problem in future.
5. Scalability Is Crucial for Long Term Contract
In Kolkata, you can find many factory spaces available for sale. But does this space align with your business scaling plan? If you successfully operate your business, it will grow in future. But, can the facility offer enough space to accommodate the business growth? You must check this aspect while finalizing and selecting any warehouse facility in Kolkata.
Similar to this, you can also plan for scaling down your business in the near future. Market volatility or other reasons can play a significant role here. Will the warehouse service providers cooperate with you to reduce the cost and space?
While finalizing any contract with the prospective warehouse service providers, you must include these clauses to make your operations strategic and flexible. It will help you keep aside many hurdles and challenges while making the operations cost-effective and efficient.
6. Associated Risks Must Be Evaluated
Once you contact the warehouse service providers, the risk of storing, handling and shipping products shifts to the warehouse. Does the reputed warehouse in Kolkata have all the provisions to bear the risk? First, check if they have proper insurance plans in place. Then, clearly communicate how they will manage the responsibility in case of any fatality, such as if the space catches fire, thieves steal the products, employees fail to deliver services, poorly functioning electricity, and various other uncertainties that can impact business operations. Once you stay confident that the warehouse service provider in Kolkata will offer all the required support and assistance to your business, you should sign the contract. Otherwise, searching for other alternatives is a wise decision.
You should consider these key aspects when choosing the right warehouse service provider. You must weigh the importance of these factors to your business based on percentage. It will help you to move ahead strategically and make better decisions in choosing the right warehouse service providers. Suppose the weightage of cost is 30% and that of risk is 20%. If the criteria for cost meet well, you can overlook certain aspects of risk factors while selecting the warehouse. This process will help you prioritize and focus on key needs to achieve and ensure the best for your business.
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