Funding is a primary requirement of owning an enterprise. And aside from staffing, tools procurement plays a significant role in enhancing the running of your business.
Calculating the worth of a basic item might seem to be nothing at first. But when you do that over time, you’ll see how much money goes into some essential equipment.
Office supplies are consumables and things that are regularly used in an organization. They are usually used for writing, keeping records, and facilitating more complex duties.
Standard office supplies include a pen, pencil, folders, binding equipment, printer paper, calendar, planner, highlighter, toner, printer ink, push pins, and sticky notes.
Businesses with up to four employees spend between $77-$92 per employee every month. Despite all the usefulness of office supplies, your company might be spending more money on them than necessary.
Below are some tips to save high on office supplies:
Buy in Bulk
Purchasing your office needs in bulk is a sure way to reduce the cost of your supplies. Most stores that deal in office supplies offer a discount on wholesale or bulk purchases. Stationery will cost less when you buy it in bulk at a store.
Track your office Supplies Monthly Expense
When you monitor how much your company spends on office supplies every month, you’ll find it easier to identify essential supplies. Also, you will know where your firm is spending unnecessarily, and you can take action to cut such costs.
Shop Online
Online stores undoubtedly offer the best prices on office supplies. Online stores are cheaper because, unlike physical stores, online stores do not have to pay for large office spaces or many employees. This affords online stores the luxury of selling at a cheaper rate.
However, when buying online, you should consider the cost of delivery as part of the total cost of what you’re buying.
Try Generic Products
Branded products are often considered to be far better than generic products, but that’s not always true. Branded products cost more than generic ones because of the recognition and trust people have in them.
Some generic office supplies will offer you the same quality as the branded ones while saving you a considerable amount of money at the same time.
However, it is advised that you re-evaluate your decision to switch brands from time to time and make the necessary adjustment according to the situation.
Monitor Office Supplies Theft
More than 70 percent of employees admitted to stealing office supplie like pens, pencils, paper clips, sticky notes, and highlighters.
This is considered petty theft, but when the cost begins to add up and reduce the company’s overall profit.
Shop at one place
Purchasing your office supplie from one store is a sure way to ensure that you buy them at a discounted price. You may even qualify to meet the requirements to deliver your supplies for free.
Register for Reward Programs
Reward programs are designed to promote customer loyalty through various schemes that allow customers to earn rewards or points.
Such points are converted to discounts on future purchases. By signing up for one of those, you can enjoy all the privileges that reward programs have to offer.
The less you spend on office supplies, the more money you have available for other areas of your company. Also, changing where and how you buy your office supplie can go a long way to managing your company efficiently and productively.