Managing assets efficiently is a crucial aspect of any business operation. However, when it comes to infrequently used assets, the challenges can be overwhelming. These assets take up valuable space, require maintenance, and can easily get lost or damaged. That’s where offsite asset management through storage solutions comes in as the smart option. In this article, we will explore what offsite storage is, how it works, and the benefits it offers for managing infrequently used assets. We will also delve into best practices, case studies of successful implementation, and provide guidance on choosing the right provider.

The Challenges of Managing Infrequently Used Assets

Many businesses face the challenge of managing infrequently used assets effectively. These assets can range from outdated equipment and excess inventory to important documents and archives. One of the main challenges is the sheer space these assets occupy within the workplace. Valuable office space that could be utilized for productive activities is instead cluttered with items that are rarely accessed.

Moreover, infrequently used assets still require maintenance and care, which can be a drain on resources. If not properly managed, these assets can deteriorate over time, leading to costly repairs or replacements. Additionally, the risk of loss or damage is higher when assets are kept onsite and are not regularly monitored.

What Is Offsite Storage and How Does It Work?

Offsite storage is a solution where businesses store their infrequently used assets in a secure external facility. These facilities are equipped with specialized storage infrastructure and security measures to ensure the safekeeping of the assets. The process begins with categorizing and documenting the assets to be stored. This allows for easy retrieval when needed.

Once the assets are organized, they are transported to the offsite storage facility. The facility is designed to provide optimal conditions for asset preservation, including temperature control, humidity regulation, and protection from pests and environmental hazards. Depending on the provider and the level of service chosen, businesses may have access to inventory management systems that allow them to track their assets remotely.

Benefits Of Offsite Storage for Infrequently Used Assets

Cost Savings and Efficiency Through Offsite Storage

One of the most significant benefits of offsite storage for infrequently used assets is cost savings. By storing these assets offsite, businesses can free up valuable office space that can be utilized for revenue-generating activities. This reduces the need for additional office space or costly expansions. Moreover, offsite storage providers often offer flexible pricing plans, allowing businesses to pay only for the storage space they need.

Additionally, offsite storage improves efficiency in asset management. With assets stored offsite, businesses can easily access and retrieve them as needed, without the hassle of searching through cluttered storage spaces. This saves time and increases productivity, ensuring that employees can focus on their core responsibilities.

Beyond the need to store infrequently used items, there are times where short-term storage for assets is a real space and money saver. Consider situations like facility buildouts or realignments. The business will need to retain the assets that will be otherwise in the way of the project. Other possible scenarios are ad hoc production ramps where finished goods may otherwise overwhelm onsite storage. Facility moves are another scenario where short-term storage is a potential win for efficiency.

Security And Protection of Infrequently Used Assets

Another crucial benefit of offsite storage is the enhanced security and protection it offers for infrequently used assets. Offsite storage facilities employ state-of-the-art security measures, including surveillance systems, access control, and fire suppression systems. These measures significantly reduce the risk of theft, damage, or loss.

Furthermore, offsite storage facilities are designed to safeguard assets from environmental hazards such as floods or fires. They have robust disaster recovery plans in place, ensuring that even in the event of a catastrophe, the assets remain safe and accessible.

Best Practices for Managing Offsite Stored Assets

To make the most of offsite storage for infrequently used assets, it is essential to follow some best practices. First and foremost, it is crucial to establish a comprehensive asset inventory and tracking system. This allows businesses to keep track of what assets are stored offsite, their condition, and when they need to be retrieved.

Regular auditing of the storage facility is also recommended. This ensures that the assets are stored properly and are not at risk of damage. Auditing also helps identify any assets that are no longer needed, allowing businesses to declutter and optimize their storage space.

Additionally, businesses should establish clear procedures for requesting and retrieving assets from the offsite storage facility. This streamlines the process and ensures that assets are readily available when required.

Implementation Scenarios: Examples of How Companies/Industries Can Benefit from Offsite Storage

Numerous companies have successfully implemented offsite storage for their infrequently used assets, reaping the benefits it offers. One such example would be a manufacturing company that stored their excess inventory offsite. Perhaps they purchase a higher quantity of raw goods due to favorable pricing or they are building up finished inventory for a seasonal sale through requirement. By doing so, they are able to free up valuable warehouse space and optimize their operations. This results in improved efficiency and overall cost savings.

Another potential application of offsite storage would be an accounting firm that utilizes 3^rd party space for their hard and electronic copy archives. By securely storing their important documents offsite, they are able to minimize the risk of loss or damage. This provides peace of mind and allows them to focus on serving their clients without the added distraction.

Consider a company with headquarters as well as remote office buildings. Perhaps they have seasonal decorations and trade show materials that are needed across the company. Attempting to store and then shuttle the materials back and forth between multiple locations is a management headache and further risks the longevity of the materials – breakage and loss is a real risk for materials not properly stored.

These scenarios and many other examples are a primary reason to consider offsite storage solutions for your business’ valuable assets.

Choosing the Right Offsite Storage Provider

When selecting a storage provider, several factors should be considered. First and foremost, security should be a top priority. Ensure that the facility has robust security measures in place, such as 24/7 surveillance, access control systems, and fire suppression systems.

Additionally, consider the location of the offsite storage facility. It should be easily accessible when needed, but not so close that it becomes a hindrance. The facility should also have well-maintained infrastructure and appropriate climate control systems to protect the assets.

Finally, assess the reputation and experience of the offsite storage provider. Look for testimonials and reviews from other businesses to gauge their level of service and reliability.

Conclusion: Embracing the Smart Solution for Infrequently Used Assets

Offsite storage is undoubtedly the smart solution for managing infrequently used assets. It offers cost savings, efficiency, and enhanced security, allowing businesses to focus on their core operations. By implementing best practices and choosing the right offsite storage provider, businesses can effectively manage their infrequently used assets and enjoy the benefits it brings.

Consider MyOffice for your offsite storage needs. We have over 20 years’ experience in securing and storing assets for our clients. With our state-of-the-art facilities and commitment to exceptional service, we ensure the safekeeping of your infrequently used assets. Embrace the smart solution and experience the difference offsite storage can make for your business. Contact us today for more information on our solution to your need.