Reducing Office Supply Expenses
Everyone needs office supplies, from the parish of a small town to the largest conglomerate in the land. Transactions occurring everyday make for tons of paper, pens, pencils, staples, and lots more of other office items to be consumed in billions of offices all across the globe. Office supplies can account for up to 40% of a company’s operating costs. Oftentimes, companies spend more on office supplies than they need.
When a company is wasting money, profits grow smaller. Companies that should earn $150,000 in profits could lose up to $30,000 of potential income due to needless spending on office supplies. Experienced businessmen know that it’s more difficult to increase profits than to reduce expenses. If your profit margin is 5%, you can double your company’s profit by reducing expenses in that same amount. A lot of companies are now becoming aware of this fact, and a lot more are also starting to take measures to curb overspending on office supplies.
I wrote this article to present some practical and effective steps to save money on your office supplies. By following these steps, you will see your operational expenses shrink considerably and your profit margin start to grow.
1. Take inventory of all the office supplies you have in the office right now and transfer 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. Start a collection. All those expositions, seminars, and conferences can yield a lot of pencils, pens, and other goodies. You can stash them all and use them at the office.
4. Buy in bulk. A lot of office supply stores can give a sizeable markdown if you buy in bulk from them. Get enough supplies to last an entire year. If you don’t have the budget to buy in bulk, you can also gather your friends and associates and buy the supplies you all need.
5. Learn when to buy. There are slow seasons and peak seasons for these items. 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. There are a lot of good office supply stores on the Internet that can help you save money. Research on the best prices available for the supplies that you need. Most online stores have detailed pricing and delivery information available on their websites. You can save a lot of time and money by going online.
All of us can save money with a bit of common sense. It doesn’t take an expert to find ways to reduce operating costs. I hope that this article has provided you with useful information about cutting costs and saving money by buying and using office supplies wisely.
Azlan Irda is the co-founder of http://www.aamofficesupply.com which provides an extensive selection of high quality office supplies at affordable prices. Find out how you can save money and get the best, high-quality items when you buy office supply stores.
- Azlan Irda
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