WAREHOUSING.

Hey Guyz, Sorry for the late posting. Sch and all kept me busy today; anyway we are here now-Praise God. It’s a new day to be glad and to jump for joy because God found us worthy to be alive and well, and ready to learn something new, so let’s get started.

Warehousing is the act of storing goods produced/ bought in a place until they are needed. It ensures that there is a regular and steady supply of goods.

In other words, it’s a place where goods are stored until they are demanded by customers.

Below are the External and Internal Pictures of a Warehouse.

TYPES OF WAREHOUSES.

1. Bonded Warehouse- It is a place where goods whose customs duties have don’t been paid are kept, until the duties are settled. It is usually located around the seaport. In other words, goods brought (Imported) from other countries whose fee called custom duties have not been paid, are kept in this warehouse until the owners pay up.

2. State Warehouse- It is a place where Contraband goods seized by the Customs Authority are kept, until they are sold in an Auction. That is, Goods not allowed in the country are taken and kept here until someone buys them in an auction.

3. Wholesale Warehouse- It is a place where wholesalers store all the variety of goods bought. All the goods bought from the Producers are kept here, until demanded by their customers (Retailers/ Final Consumers).

4. Manufacturers Warehouse- It is a place where the Producer/ Manufacturer Stores his products, until its being demanded by his customers (Wholesalers/Retailers/Final Consumer).

5. Public Warehouse- These are privately owned warehouses that are made for renting purposes.

FUNCTIONS OF WAREHOUSING:

1. It serves as store for stocking wide variety of goods.

2. It is where finished goods are stored by the wholesaler, before being sold in small quantities/units to the retailer.

3. It is available for use to all middle men in the chain of distribution and to individuals, and governments.

FACTORS TO BE CONSIDERED IN SETTING A WAREHOUSE.

1. Capital- To set up a warehouse requires a huge sum of money to start with. This is one important factor to consider.

2. Type of Warehouse- Before setting up a warehouse, you have to decide on the type of warehouse you want to run. Either State, Public or Bonded Warehouse.

3. Location/Site- To set up a warehouse requires large plots of land if not hectares, to be able to warehouse lots of goods comfortably.

NOTE: This is to notify all, that the images used in this write-up are all gotten from Google.com and all existing copyrights are respected and recognized.

This concludes our session for today, Hope it was fun and educative all the way. For your questions pls send them to- dividiamond@gmail.com and pls leave your comments on what you think of the lecture below. Until we meet again remain ever blessed and remember you are for SIGNS & WONDERS. God Bless you.