6 Ways to Cut Office Supply Costs
Everywhere that there are offices, there is a need for office supplies. Business transactions occurring everyday allow for tons of paper, pens, pencils, staples, and lots more of other office items to be consumed in billions of offices all over the world. Office supplies can account for up to 40% of a company's operating costs. More often than not, companies spend 20% more than they really have to.
Revenues grow smaller when a company wastes money. Companies that could earn $150,000 in profits might lose up to 30% of potential income due to superfluous spending on office supplies. Every businessman knows that it's more difficult to raise 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.
This article will provide you with some of the effective ways to lessen operating costs by saving on office supplies. Follow these steps and your operational costs will reduce considerably and your revenue start to grow.
1. Take inventory of all the office supplies that you have in the office right now and rearrange them in specially designated areas where people can easily find them when needed.
2. Recycle. Binders, folders, or even notepads from last year can be reused or salvaged with a little imagination and resourcefulness.
3. Collect them all. 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 your supplies in bulk. A lot of office supply stores can give a substantial 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. 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. There are a lot of good office supply stores online 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.
All of us can reduce costs with a bit of common sense. You don't have to be a financial genius to find ways to reduce operating costs. I hope that this article has provided you with useful information about reducing expenses by purchasing 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 supplies.
Published March 14th, 2007