Warehousing refers to the efficient storage as well as management of materials and goods in a proper space, which are needed for different activities in industry. From the suppliers, the raw materials arrive in the warehouse. It is important to have information on the movement of these goods, to make it get passed to the chain of distribution to customer.
If managed properly, a warehouse will make sure, that a profitable return is assured within the least wastage.
Some of the main elements which are included during warehousing are:
- Material receipt
- Storage and Issuance
- Bonded Stock and Consignment
- Stock Accuracy
- Perpetual Inventory
- Management of non-conformities
Warehousing is imperative in the manufacturing process in myriad ways. Firstly, it provides a centralized location, where the goods can be conveniently received, prepared and shipped to consumers. However, the cost of the centralized location is critical to consider. 2nd, warehousing helps a product to come within the stipulated time frame. Warehousing makes sure, of a “security stocking concept to do this. In the warehouse, maintaining inventory augments value to customer experience. Thus, the staff of warehouse will be able to check product stock and acknowledge the customers on what is available immediately.
Warehousing enables economies of sale, which implicates the business will be able to customize the flow of operations without a substantial cost increase.
The business owners will be able to monitor the trends of the buyer and will be able to stock up on inventories for specific buying cycles, like during the time of peak holiday times. The ability in scaling operations as per requirement without having the costs increased, enables businesses for taking advantage of sales cycles as well as fresh opportunities in markets.
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