Monitoring the increasing cost of the business and planning a resort to minimize it- is a common problem entrepreneurs faces. Primarily, a business is not about earning profits and recognition in the market, but it is about exceeding the income beyond costs so that an enormous profit can be made. While ascertaining a method to reduce expenses, the entrepreneur should map out ways to minimize expenses. Firstly, he should list down the items that are required in the day-to-day life.
Snacks, beverages and stationery items are provisions that are a must-have. Amid these items, office stationery is the most demanded product in the office as it is required for paperwork, documentation, printing work and much more. According to Business and Economics Journals research article, The global market for writing instruments is estimated at Rs 50000 crore per annum. However, the Indian market is much lower in comparison. The market for writing instruments in India is estimated at 1200 million to 1400million pieces a year. By value, the total market for writing instruments is estimated at Rs.22 billion and is growing at 8 per cent to 10 per cent annually. Thus, Indias share is just 4 per cent of the global market. In comparison, Chinas share is around 10 per cent. The Indian pen manufacturers are exporting part of their output.
So, limiting the use of the stationery items cannot be a way to reduce the expenditure. The administrator of the company needs to search another way to reduce the expenses without compromising with the quantity of office stationery.
2 Ways To Save Money On Office Stationery
Keeping in mind the daily office requirements, the company should adopt measures to control costs. This can be initiated if one adheres two effective ways to save money on office stationery.
The best way of managing stationery expenses is buying office supplies in bulk. Bulk purchases invariably reduce the overall costs and thus, supply more products at a cheaper rate. For bulk purchases, one should ascertain wholesalers in the market or search stationery office-supplies business for sale. The stationery office-supplies businesses which are reselling, readily sell products at a low price so as to polish off piled stocks.
However, one should be cautioned of crafty wholesalers who keep old, worn-out office stationery items in the procured stock. Furthermore, the stock should be purchased in accord to the offices space and requirement.
To decide out important modes of cost reduction, it is important to monitor the acquisition of stationery items and further, noting down the things that are majorly required in the office. In addition, the company should impart office etiquettes in the employees-including desk organization, wherein things that frequently required in the paperwork should be well-organized. This would, in turn, helps to minimize the loss of office stationery items in the office.
Follow the above-mentioned suggestions. They are useful and would help to subdue increasing costs.