Everywhere that there are offices, there is a need for office supplies. The daily grind of business requires tons of paper to be consumed every day, along with miles of pencil lead, staples, ink, and everything else that is used by millions of offices all over the world. Office supplies can account for up to 40% of a company’s operational costs. More often than not, companies spend 20% more than they really need to.
When a company is wasting money, profits grow smaller. Companies that could earn $150,000 in profits could lose up to $30,000 of potential income because of needless spending on office supplies. Experienced businessmen know that it’s more difficult to raise profits than to reduce expenses. A profit margin of 10% can be doubled by cutting costs by that same amount.
I wrote this article to present some practical and effective steps to reduce costs on office supplies. By following these steps, your operational expenses will be reduced considerably and your revenue start to grow.
1. Inventory all the office supplies you have available right now and rearrange them in specially designated areas where people can easily find them when needed.
2. Reuse old supplies. Binders, folders, or even notepads from last year can be used again or salvaged with a little inventiveness and resourcefulness.
3. Collect them all. All those expositions, seminars, and conferences can yield a lot of office goodies. You can stash them all and use them at the office.
4. Buy your supplies in bulk. A lot of office supply stores can give a substantial markdown if you buy in bulk from them. Buy enough supplies to last an entire year. If this proves to be too difficult, gather your friends, co-workers and associates who need the same supplies that you need.
5. Learn when to buy. Stores have peak seasons and off seasons. Usually, office supply stores will offer discounts, rebates or sales on school and office supplies during summer, so try to stock up on what you need to avoid paying full price.
6. Use the Internet. The information highway is available 24 hours a day, 7 days a week, so go ahead and use it. You may find the best prices for your corporate budget. Most online stores have detailed pricing and delivery information available on their websites.
A lot of times we can save time and money by just using common sense and diligence. It doesn’t take an expert to find ways to save money. I hope that this article has provided you with valuable information about reducing expenses and saving money by buying and using office supplies wisely.
By: azlan Idris