Essential Strategies for Optimizing Amidst the Vacancy Crunch
Summary
Companies looking to maintain or expand omnichannel sales must find cost-saving labor, inventory management, and shipping efficiencies while simultaneously meeting customers’ rising expectations. Approximately 20% of organizations report over 100% capacity in their warehouse, relying on unorthodox solutions like renting shipping containers to keep in a parking lot or overflow storage options. CBRE’s North American Industrial Big Box Review and Outlook report finds that twenty-one markets —most along the coasts and near transportation hubs—have sub-3% vacancy rates. A 3PL enables merchants to scale and expand reach without heavy capital investment and offer flexibility that empowers businesses to better accommodate seasonal fluctuations and industry shifts. Evaluate the cost for temporary solutions, factoring in any charges and a generous estimate for how long you’ll need to utilize the external storage to determine what’s better for the long-term bottom-line.