Get an Extra $7,500 Worth from Your Laboratory Budget

Get an Extra $7,500 Worth from Your Laboratory Budget

Get an Extra $7,500 Worth from Your Laboratory Budget

Posted on the 18th of Sep 2019 by Westlab

If the idea of creating money from thin air appeals to you, then we have good news! We have compiled our top five tips that can help you save $7,500 from your laboratory budget. Read on…

1. Freight Charges

If you place orders regularly, you could save tonnes by taking advantage of Westlab’s free delivery for online orders over $200. Believe it or not, this is a small everyday saving that can have a huge impact on your overall spend and budget.  For example, a lab ordering on average twice per week could be spending well over $3,000 per year on delivery fees alone!

2. Same Day Dispatch Guarantee

Reduce your inventory by ordering as you go.  Whilst large stocks on the shelf may appear efficient, it ties up cash and space which could be used more effectively. If the average science budget is $10,000 – a 15% reduction in stock = $1,500.

3. Bulk/Volume Pricing

Westlab offers a volume-based price structure.  The more you purchase the less $ you pay!

For example, a 250ml beaker price varies as follows:

Per unit price =    $3.60

Box of 24 units = $2.90

Bulk savings =      19%!

But not every purchase are for consumables, so let’s lower the savings to 15% to allow for equipment and other purchases where bulk pricing might not be applicable. A 15% saving on a $10,000 budget = $1,500

4. Purchase a Quality Product

Westlab offers a tried and tested range of laboratory consumables, equipment and apparatus for science.  The old saying: “Buy Cheap, Buy Twice” is very true in the scientific world! Durability, toughness, clear technical specifications, warranties, etc. can result in a dramatic increase in product longevity.

Example:  a 10% longer life on will result in a saving of $1,000 based on an average $10,000 budget.

5. Storage, Safety & Compliance

A well-organized inventory ensures that you can access consumables and apparatus quickly and effectively.  Many labs have significant quantities of product tucked away in unseen corners and cupboards!

Keeping your dangerous goods in a compliant and well-ventilated cabinet gives you good visibility and control.  Having a capital equipment register enables lab managers to locate the right tool for the job without having to purchase another!

Example: Reorganize your lab and find 5% extra product + save space!

 $10,000 x 5% = $500

Total Savings:
Freight:                            $3,000

Reduced inventory:       $1,500

Bulk pricing:                    $1,500

Quality:                            $1,000

Find equipment:                $500

Total Savings                 $7,500!!

2019-09-18 23:43:00
Copyright © 2024 Westlab Pty. Ltd. All rights reserved. - ABN: 71 606 662 113