How Much Does Pallet Storage Cost?

• Quantity of pallets: Bulk pallet requirements often translate to lower costs.

• Duration of storage: Long-term storage solutions offer greater cost-effectiveness compared to short-term arrangements.

• Pallet type: Variations in pallet sizes and types, such as standard CHEP or EURO pallets, can impact storage capacity and costs.

• Pallet size: Pallet size can impact the number of pallets than can be stored and the cost of storing them. Non-standard pallet heights above 1.6m can also incur additional storage costs. Of course, you could opt to have your goods re-palletised, but you'll need to weigh the expense against the additional costs of storing non-standard pallets.

• Weight: Storage services for heavy goods may incur additional expenses.

• Storage method: Block stacking is cheaper but may result in higher handling costs and increased risk of stock damage compared to racking.

• Location: Warehousing costs vary based on proximity to major cities or logistical hubs.

• Nature of goods: Fragile or hazardous items may require specialized storage solutions, affecting overall costs.

• Movement of goods: Consolidating warehousing, picking, and distribution services can optimize costs, whereas separate services may incur additional fees.

Factors Healthcare Organizations Need To Consider When Choosing An Inventory Partner

Healthcare companies must carefully consider several factors when utilizing pallet storage to ensure the safety, integrity, and efficiency of their operations:

• Regulatory Compliance: Medical devices are subject to stringent regulatory requirements, and companies must ensure that pallet storage methods comply with relevant regulations such as Good Manufacturing Practices (GMP) and ISO standards.
• Temperature Control: Many medical devices are temperature-sensitive and may require specific storage conditions to maintain efficacy. Medical device companies should assess whether pallet storage facilities offer temperature-controlled environments to prevent product degradation.
• Security: Security is paramount when storing medical devices, as they may be targets for theft or tampering. Companies should evaluate the security measures in place at pallet storage facilities, including access controls, surveillance systems, and inventory tracking protocols.
• Inventory Management: Accurate inventory management is essential for medical device companies to track stock levels, monitor expiration dates, and prevent stockouts. Pallet storage facilities should offer robust inventory management systems to facilitate efficient stock control and replenishment processes.
• Cleanliness and Hygiene: Maintaining a clean and hygienic storage environment is crucial for medical device companies to prevent contamination and ensure product safety. Pallet storage facilities should adhere to strict cleanliness standards and implement regular sanitation protocols.
• Documentation and Traceability: Comprehensive documentation and traceability are vital for regulatory compliance and product quality assurance. Pallet storage facilities should provide detailed records of inventory movements, including receipt, storage, and dispatch, to support regulatory audits and product recalls.

By carefully considering these factors, medical device companies can effectively leverage pallet storage to optimize their supply chain operations while ensuring compliance with regulatory requirements and maintaining product quality and safety.

At BioTouch, we understand the complexities involved in warehousing decisions for healthcare organizations. Our tailored inventory management and fulfilment services are designed to meet your specific needs while maximizing cost-effectiveness.