Module 1 Flashcards
Warehouses provide acentralized location for your goods, making it easier to track and manage your inventory.
Better Inventory management
Most warehousesprovide the equipment and supplies you needto store, move, package and process orders from customers.
More Efficient Packing and Processing
Warehousing allows fortimely delivery and optimized distribution, leading to increased
labor productivity and greater customer satisfaction.
Superior Customer Service
A warehouse allows you tostore your products for a later datewhen the demand is
high. This helps ensure price stabilization and reduces revenue losses.
Ensure Price stabilization
Warehousing not only protects against price fluctuations but alsoprovides safe storage of
perishable products.This also helpsextend the
product’s shelf lifeand ensures customer satisfaction.
Improved Risk Management
The Importance of Warehousing in a Logistics System
Better Inventory Management
Ensure Price Stablization
Superior Customer Service
More Efficient Packing And Processing
Improved Risk Management
Knowing how much inventory you have and how much you
have moved means you can plan for the future more precisely.
Improved Inventory Accuracy:
Understanding how busy your business will be over a period of time
will allow you to plan your staffing needs accordingly.
Better staffing level
As you improve the running of a warehouse you can invest more in
further development and reduction of costs.
Reduced Overhead Cost:
Having a storage facility that fits the needs of your goods it so important
to a business. If you have perishable goods that require refrigeration you need to ensure that
your warehouse lives up to this standard.
Protection of goods
When you source a warehouse close to a customer or manufacturing hub,
you can ensure better transit of goods, decreasing the time it takes to move products between
places.
Central location
The better flow of goods from manufacturer to end consumer is
brought about by understanding the best layout of your warehouse and how to store goods
optimally to move them fast.fire or theft.
Superior Flow of goods
What Are The Advantages of Warehousing?
- superior flow of goods
*Improve Inventory Accuracy
*Reduced overhead cost
*Protection of goods
*Central location
*Better Staffing Level
Functions of Warehousing
- Storage
- Price Stabilization
- Risk Bearing
- Financing
- Grading and Packing
Basic function of warehousing
storage
It is achieved by the creation of time utility by warehousing
Price stabilization
When goods are stored in warehouses, they are exposed to many risks in the form of theft deterioration, exploration, and fire, etc. Warehouse is constructed to minimize this kind of risk.
Risk bearing
person keeping the good in warehouse act as?
bailor ( owner)
warehouse keeper act as?
bailee ( recieved goods from owner )
for any loss or damaged sustained by goods, warehouse keeper shall be liable to the owner of goods
TRUE
loans can be raised from the warehouse keeper against the goods stored by the owner
Financing
warehouses now a days provide the facilities of packing, processing and grading of goods
Grading and Packing
Types of Warehouses
- Public
*Private - Bonded
Other types of warehouses
- Special commodity warehouses
- Cold Storage and Refrigerated Warehouses
- Institutional Warehouses
