6 Ways to Reduce Office Supply Expenses
Everyone needs office supplies, from the parish of a small town to the largest conglomerate in the land. Business transactions on a daily basis 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. The expenses for office supplies could reach up to 40% of a company's operational costs. More often than not, companies spend 20% more than they really have to.
Revenues decrease when a company wastes resources. A company that should be earning $150,000 in revenues might lose up to $30,000 of potential income due to superfluous 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. Fortunately, a lot of companies are becoming aware of this fact, and a lot more are also starting to take measures to curb overspending on office supplies.
This article will provide you with some of the effective ways to lessen operating expenses by saving on office supplies. By following these steps, you will see your operational expenses shrink considerably and your profit margin 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 reused or salvaged with a little creativity 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 office supplies in bulk. A lot of office supply stores can give a substantial markdown if you buy in bulk from them. Get enough paper, ink cartridges, diskettes, etc. 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. During summer, a lot of office supply stores offer discounts, sales, and rebates for these items, 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.
A lot of times we can reduce costs by just using common sense and diligence. You don't have to be an accountant to find ways to reduce operating costs. I hope that this article has provided you with valuable information about reducing expenses and saving money 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 medical office supplies.
Published March 14th, 2007