Instead of rushing to expand warehouse space or leasing extra storage, prioritize vertical optimization first. Implement narrow-aisle racking systems combined with specialized equipment such as reach trucks or automated guided vehicles (AGVs), significantly increasing your pallet density without additional square footage. Implement dynamic slotting fregularly analyzing your fastest-moving SKUs to keep them easily accessible, while strategically placing slower movers higher or deeper in storage. Leverage cross-docking to minimize storage and also explore to establish flexible, temporary 3PL partnerships

from a warehouse management perspective have an inventory plan to move or bulk store slow moving items and move fast moving items to a forward picking location, you can use sales forecasting data or historical data to do this on a daily basis from an organisation level you can plan to have an offer/combo/discount on old items which are slow moving to free up inventory making it easy to have more available location -this works if your own manufactured/ purchased inventory

Strategies to maximize storage space efficiency: a. Relayout the warehouse by placing fast-moving products near outbound areas and optimizing slotting based on demand frequency. b. Implement a pallet stacking strategy to optimize floor space. c. Procure additional racking to increase storage capacity and improve space utilization. d. Remove dead stock to free up storage space and maximize available locations. e. Utilize overflow warehousing or partner with 3PL using on-demand or shared warehousing for flexible storage solutions.

In the past we have offered discounted rates for current storage to move product out sooner. In addition to understanding the logistics of how product is processed in and out of facility. Not just the space of product but the personnel moving the product, is it truly efficient. Speak with all personnel high and low and get input how product moves. The people moving the product is the business not just the managers. Let the engineers listen to production. If dumb ideas work they are not so dumb.

Do an analysis for 1 period of 1 year and make a graph where there is an increase in each quarter, then from this analysis stock adjustments can be made, when storage should be maximized and when storage should be reduced, Thanks