Whether you are a small business or a start-up, you might be spending a lot on your office supplies. Although low in figures, these office expenses start snowballing if left unchecked.
You need them to maintain the efficiency and productivity of your business. But, you can still save money on procurement. Here are some ways to manage the procurement process for more significant savings.
Determine the Needs of Your Office Staff
Since every business is unique, there’s no cookie-cutter approach for procuring office stationery and supplies. For example, the needs of a small plumbing office are much different than a huge corporate setup.
So, conduct an office audit depending on the size, industry, and supplies you need. Based on this audit, you can create a proper list of items required for your workplace. Make a game plan for the next week or month to determine the things your employees need the most and others that can wait.
Study the Historical Data
Apart from auditing the inventory, you also need to take a look at some historical figures. Check the previous purchases and budget to see where you can cut the costs.
Some items may not be necessary, and you can also find the deals to check out in previous figures. This way, you can stick to your budget for every quarter and make some savings as well.
Know About Your Options
As a small business owner, you do not have to buy your office supplies from prominent vendors. Instead, you can find local suppliers and procurement partners that can offer special offers and deals for incredible savings.
When you have several options, it becomes easier to compare the prices, delivery process, services, and more. You can find the best suppliers based on your budget and requirements.
Look for Special Promotions and Featured Offers
Sometimes, suppliers may be offering exclusive deals on selected office items. Don’t forget to check these deals before placing your orders. A discount coupon saving a few dollars every week may not sound much, but it can still cover the small expenses in your office.
You can spend this money on staff lunch or morale-boosting activities that add value to your bottom line. If you’ve good relations with your supplier, you can also negotiate a purchase contract for the supplies you need the most. If you focus on these items, you can save more money over time.
Order in Bulk
Buying in bulk can reduce your costs by a significant margin. Prepare a list of items that are most frequently needed in your office. Buy them in large amounts to get better prices and ensure that there are no shortages in office supplies.
For example, you can purchase 5000 sheets of paper instead of 500 to get better deals from the suppliers. Here, you can also set up a corporate account with your supplier to provide you with a statement of purchases made over the past week or month.
The franchises can also provide great discounts on the items ordered in big volumes. You will get a better price without worrying about the storage and overall costing of office stationery and supplies.
Buy High-Quality Supplies
Despite their price tag, the cheapest supplies aren’t the best option for your business. They sound like a good deal for a moment, but the shoddy quality is prone to easy damages as well. You will end up buying them more frequently when compared to high-quality supplies that offer longevity. Here, not every item has to be the best in quality, though.
You can also create a supply station in your office to have a precise measure of items that need replacement every week or month. Make a person-in-charge of procurement to monitor the supplies and avoid wastage of money. With these tips, you can save more and optimize the procurement processes.