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PROJECT WAREHOUSING
Warehousing is the method to store physical inventory for distribution or sale. Different freight forwarding companies from all across India use warehouses for storing items in bulk temporarily before they ship them to other locations. For example, several eCommerce businesses buy things from their suppliers in size, and these suppliers ship these products to their warehouses to store them. When end-customers place orders from the eCommerce website, a business collects and packs the items from the warehouse before shipping them to the customers directly.
In recent times, eCommerce has witnessed a huge expansion via the warehousing industry. The market, too, has doubled in the previous decade because businesses from around the globe invest heavily in their supply chains to get items to businesses and consumers more efficiently and faster. Many physical retail companies possess confined space in their stores for holding inventory. In this aspect, when they have warehouses nearby, they can be ensured that they can restock their stores during high volumes, such as on holidays.
Genex Logistics is one of the best logistics freight forwarding companies because we know our customers’ needs, issues, and expectations. So, we can provide unmatched industry-specific solutions to their problems.Â
DIFFERENT KINDS OF WAREHOUSES
Some kinds of warehouses are:
- Public Warehouses:The government bodies own a public warehouse available to private sector companies. A public warehouse is lent for both personal and business use. You must consider a public warehouse when you are an SMB owner and wish to store your items for a short period.
- Private Warehouses:Private warehouses are warehouses that distributors, manufacturers, or wholesalers own privately. A secret warehouse becomes an excellent choice for eCommerce SMBs when they require a long-term and major presence in important regions.
- Bonded Warehouses:These warehouses can store imported items before customs duties are needed to be paid on them. A bonded warehouse is ideal for importers because they can keep their products duty-free.
Smart warehouses are warehouses where the fulfillment and store processes are automated with Artificial Intelligence.
- Consolidated Warehouses:Consolidated warehouses take small shipments from various groups and suppliers into big loads before they are distributed to buyers.
- Cooperative Warehouses:These are warehouses that cooperative organizations own and run. A suitable warehouse turns into a superb choice for a collaborative organization.
- Government Warehouses:The government owns and controls a government warehouse. Commonly, a govt. Warehouse charges reasonable rates.
- Distribution Centers:The distribution centers are storage spaces with particular needs. A distribution center seems affordable and varies based on the kinds of items stored in it.
FUNCTIONS OF WAREHOUSING
- Cost Stabilization:Warehousing plays a huge role in stabilizing the price. This is accomplished through the formation of time usefulness by warehousing.
- Storage:Storage is the fundamental function of warehousing. The different commodities that aren’t required are preserved in warehouses in the freight forwarding process. When customers need them, they are supplied.
- Risk Bearing:If the products are kept in warehouses, they remain exposed to several dangers in deterioration, fire, exploration, theft, etc. Every warehouse is constructed in a manner to lessen these risks. The warehouse keepers must take care of the items and safeguard them against threats. The warehouse keeper becomes liable if any damage or loss is made to the goods.
- Financing:Products work as security for a warehouse keeper. In the same way, different financial institutions and banks advance loans against additional warehouse receipts. For people in business, warehousing works as an excellent source of finance.
- Grading and Packing:Today, warehouses propose facilities for processing, packing, and grading commodities. Items are packed in several convenient sizes according to the owner’s instructions.
BENEFITS OF WAREHOUSING
- Control Over Items:When you keep your products in a warehouse, you control them. It will help you leverage inventory control, eliminate irrelevant items, and pack orders in a centralized place.
- Enhanced Workflow:When you use a warehouse for managing orders, you enhance the workflow of your whole facility.
- Quicker Shipping and Delivery:If you pack your items in the warehouse where you received them, you allow shipping to handle its part effortlessly.
- Closer to the Target Market:Numerous companies prefer to have their warehouses in close-by locations as it supports fast shipping and easy returns. You can concentrate more on expanding your business when each order is shipped faster.
- Long Shelf Life:A long shelf life is another huge benefit of warehousing. It lessens the time that is spent on receiving. Hence, you and your staff can concentrate on customer service and fulfillment.
- Minimization of Risks:If you have a small business, you can monitor products more. And when you grow, then preventing losses turns into a challenging process. Some benefits of warehousing comprise ideal equipment to minimize risk, particularly for perishable products and cold items.
- Delegation of Tasks:When you maintain your product inventory while handling marketing and sales, it becomes costly and time-consuming. In this regard, when you warehouse your items, you delegate the staff members’ responsibilities.