One of the core maxims of business is to maximise profits while minimising costs. Although simple in theory, cutting expenditure without compromising operations is akin to walking on a tightrope. A fine balance between price and quality must be achieved. All companies are different and must cut-costs in different areas to achieve success; one of the few areas in which almost all businesses are in the same situation however, is in the purchase of office supplies and equipment. With this in mind the following five tips for reducing outgoings on office equipment are worth considering for the vast majority of companies, to help to push the balance sheet into the black.

1. Stay on top of the office supplies inventory

It is imperative that the supplies cupboard is adequately stocked at all times to avoid frustration and even in some cases: lost earnings. By the same token it is not sensible practice to lodge a standard order with an office supplier, as this can result in an excessive surplus of specific items. The individual responsible for keeping the office stocked with stationery should keep a meticulous inventory of which items are needed and which are sufficiently in supply. By staying on top of the levels of each individual product and ordering only that which is required, the weekly or monthly bill will be dramatically reduced.

2. Buy in bulk where possible

Some offices will work their way through a huge amount of printer paper whereas others will rapidly exhaust their supplies of packaging materials. Ordering a large quantity of a specific line rather than frequent small purchases (in accordance with the requirements of the inventory) will reduce the cost per item and ultimately shave a few pounds off the annual cost. Provided an accurate inventory is maintained, the purchaser can make an informed decision as to which items are quickly used up and buy in bulk where appropriate: benefitting from economies of scale.

3. Shop Around

The office equipment supplier that are currently being used are not necessarily the cheapest. Often the larger, more familiar companies are not the best in terms of value. Shopping around on the internet could result in surprising discoveries with regard to obtaining the same products for less than is currently being paid. Equally, there is no harm in haggling, slightly smaller office supplies companies will be more interested in generating and keeping new orders and so are more likely to negotiate on price to keep the customer happy.

4. Consider generic rather than premium brands

As with any industry, you pay a premium price for a premium brand...but this does not mean that their products are necessarily higher quality than those of a less well known brand. There are an abundance of generic brands which quite often are exclusive to a particular supplier, it is well worth trying these products to see if they differ from the brand that is currently being purchased: if the cheaper item can’t be differentiated from the more costly when in use, then switching permanently makes sound business sense.

5. Look at ‘compatible’ consumables

This last point is particularly relevant when considering printer cartridges. Although many major printer manufacturers will claim that their own brand cartridges are of superior quality to compatible versions made by competitors: this is not always the case. Compatible rather than official ink cartridges often cost 70-80% less and in many instances there is no visible difference in print quality or longevity. Savings of that magnitude can seriously mount up over the course of a year and possibly even half the annual office supplies bill if printing is an integral part of the business. It is however vital to ensure that use of a compatible cartridge won’t invalidate a printer’s warranty before purchase.