Ways to Reduce your Office Supply Expenses

Reducing Office Supply Expenses

Every business would need office supplies, from the parish of a little town to the biggest conglomerate in the city. The day to day business transactions would need paper along with miles of ink, staples, pencil leads and so much more. It has been reported that almost 40% of a certain company’s operational costs would account for office supplies alone. But oftentimes, many companies don’t realize that they are spending more than what they have to.

A company’s profit tends to grow smaller as it wastes money. A certain business that can potentially be earning $150,000 may lose up to 25 percent potential profits because of excessive spending. Many experienced business people know the fact that it is harder to raise profits than to decrease expenses. A specific profit margin of 10 percent can be doubled through reducing cost with the same amount. Many companies are now slowly becoming aware of this fact and also beginning to take measures on how to minimize overspending on their office supplies.

Nowadays, there can be several ways for you to save money for your business such as purchasing in bulk, recycling and etc. Here are other ways for you to shrink down your company’s operational expenses.

• Try to make an inventory on all the items that you have right now and place them in an accessible and convenient area.

• Recycle as much supplies as you can. Folders, binders and even notepads from the previous year’s inventory can be used again with the use of a little creativity and resourcefulness.

• Collect. Many seminars, conferences and expositions yield office goodies. Stash them all and make use of them at the office.

• Purchase bulk wholesale office supplies. There are many online and offline paper product distributors that can substantial price markdown if you buy in bulk from them. Purchase enough ink cartridges, lead pencils, paper, pens, notepads & etc that can last for an entire year. If you think you can’t afford to purchase in bulk orders, gather some friends and other business associates and buy all the necessary supplies you need in a single wholesale transaction.

• Buy at the right time. Most stores have peak and off peak seasons. Many wholesale distributors feature rebates, discounts and sales during summer. Stock up on these days before you have to deal with the full price.