Logistics and supply chain management provider LTS Global Solutions has launched its Warehouse as a Service (WaaS) offering amid increasing demand for flexible warehousing solutions.
A relatively new concept in the logistics industry, WaaS provides businesses with on-demand warehousing services without the need to invest in or manage their own storage facilities, offering total flexibility and scalability to customers while helping them to cut down on cost.
With no up-front down payments and flexible contracts, WaaS enables companies to store their products and access them as needed, paying only for the space and services they use.
The Birmingham-based firm said the launch coincided with an increased need from customers to scale their warehousing requirements, either up or down, due to seasonal fluctuations or unprecedented surges in demand.
It added that with the Red Sea crisis still creating turbulence for international trade, coupled with enduring conflicts in the Ukraine and the Middle East, LTS has seen a growing trend in businesses looking to invest in, and hold, more stock to ensure they have enough inventory to maintain their operations and mitigate the fallout from any unforeseen delays.
The WaaS market is tipped to skyrocket from nearly $670m from 2023 to nearly $4bn by 2032.
To mark the launch of its new service, LTS Global Solutions is offering a discount of up to 40% on storage rates for new customers in the ambient, food and packaging sector.
Having invested heavily into a new 131,780 sq ft site in 2022, as well as new warehousing technology, LTS MD Dave Hands believes that the company is well placed to meet the evolving storage demands of the market.
“The decision to launch our Warehouse as a Service offering has been made as a direct result of LTS Global Solutions listening to the contemporary needs of our customers, as well as responding to the changing demands of the marketplace as a whole,” he said.
“Recent global events, the ever-changing face of customer buying habits and the rapid rise of e-commerce is collectively re-shaping logistics as we know it and as a by-product, this has accelerated the need for more adaptable warehousing solutions. Our WaaS offering mitigates the fallout from such complexities by combining flexibility and scalability into one cost-efficient package that revolves around the customer’s needs and caters to unexpected paradigm shifts within the wider marketplace.
“With talk of 128 million sq ft of warehouse space also being at serious risk of going off the market over the next few years according to Knight Frank, and another 404 million sq ft by 2030 due to non-compliance with EPC standards, the UK could be sleepwalking into another warehousing capacity crunch. Therefore, we are proactively putting the necessary provisions in place to ensure that our customers are well-serviced regardless of the latest state of play and whatever market condition.
“Through leveraging our state-of-the-art facility, 10,000 pallet spaces and cutting-edge technology, our WaaS offering underscores our ability to provide short and long-term storage solutions that are built upon delivering on-demand flexibility, putting us in a strong position to service our customers now and in the future.”
