Office supplies may seem like a minor expense compared to the other costs of doing business, such as equipment or employee salaries. However, over time, the costs of office supplies can add up, especially as your company grows in size.
According to a study by United Stationers, businesses spend $186 to $544 on office supplies per employee per year depending on the size of the company. No matter what size your company is, reducing unnecessary expenses will help streamline your operations and increase your bottom line.
Here are 7 ways to save money on office supplies.
1. Buy Generic
Instead of buying name brand supplies, consider using generic or store brand products, particularly for office supplies such as sticky notes, folders, and staples where any difference in the quality of the products won’t have much consequence.
For example, a set of 3×3″ brand name 3M sticky notes with 12 pads of notes retails for $19.99, while the generic version is 36% cheaper at $12.71.
2. Refill supplies before they run out
Proactively replenish your supplies so that you can reduce costs by buying in bulk. It costs less per unit to buy 10 boxes of paper towels, than to buy one roll at a time. Buying in bulk will also allow you to place fewer orders, saving both time and delivery. Pick a specific day every month, such as the last day of the month, and make a habit of placing orders for office supplies on that day so that you are regularly restocking.
3. Buy quality remanufactured toner cartridges
Remanufactured toner cartridges for your printer or photocopier can be 30% cheaper than the price of new toner cartridges, while providing the same print quality.
For example, the price of a new Hewlett-Packard CE4127X cartridge is $218, compared to $50 for a remanufactured cartridge, a savings of 77%.
4. Save paper and ink when printing and copying
Set your office printers to be double-sided by default and change everyone’s default print settings to draft mode and to print in black and white. This could cut your paper usage by half, as well as save you up to 25% on toner/ink.
5. Create a reusable supplies station
Have an area for employees to leave supplies that they no longer need but that are still in working condition, such as binders, folders, writing instruments. You’ll help save the environment by recycling while reducing your company expenses.
6. Have an office supplies gate keeper
According to a study on office supply theft by Vault Inc., 67% of employees have taken office supplies from work for personal use. 60% of those who admit taking office supplies go for pens and pencils, and 40 percent take Post-Its. Other popular items stolen from the supply closet: envelopes (32%), notepads (28%), paper (27.5%), paper clips (26%) and highlighters (24%).
To ensure employees don’t access to more supplies than they need:
· Have a staff member, such as the office manager or receptionist, be the gate keeper of supplies
· If you prefer having some supplies out in the open, stock less and keep the majority locked away
7. Buy From 1 Source
Combining purchases to one source cuts down on procurement costs within your organization. Studies show that it costs a minimum of $30 to cut a PO – these costs included cutting the PO, ordering the merchandise, receiving and processing payment. By eliminating multiple vendors you save both time and money.
Contact a Twist Associate for a FREE no obligation analysis of your purchases and start saving money today!
Looking for something specific? Search our site below for more content: