Grade 11 Exam > Grade 11 Videos > Business Studies for Grade 11 > Warehousing, Functions
Warehousing, Functions Video Lecture | Business Studies for Grade 11
FAQs on Warehousing, Functions Video Lecture - Business Studies for Grade 11
| 1. What is the role of a warehouse in the field of commerce? |  |
Ans. A warehouse plays a crucial role in commerce as it serves as a storage facility for goods and products. It allows businesses to store their inventory in a centralized location, ensuring efficient management and distribution of goods to fulfill customer orders.
| 2. What are the key functions of a warehouse in commerce? | |
Ans. The key functions of a warehouse in commerce include receiving and inspecting incoming goods, storing and organizing inventory, managing stock levels, preparing orders for shipment, and coordinating the transportation and delivery of goods to customers.
| 3. How does warehousing contribute to the overall supply chain management? | |
Ans. Warehousing plays a vital role in supply chain management by providing a buffer between production and consumption. It allows businesses to store excess inventory, manage fluctuations in demand, and ensure a steady supply of goods to meet customer needs. Additionally, warehousing enables the consolidation and sorting of products, making distribution more efficient.
| 4. What are the benefits of using a warehouse in commerce? | |
Ans. Using a warehouse in commerce offers several benefits, such as improved inventory control, reduced stockouts, increased order fulfillment speed, cost savings through bulk purchasing and storage, enhanced customer service, and the ability to expand the business by accommodating larger inventories.
| 5. How can a well-managed warehouse contribute to cost reduction in commerce? | |
Ans. A well-managed warehouse can contribute to cost reduction in commerce through various means. These include optimizing inventory levels to minimize holding costs, implementing efficient storage and retrieval systems to reduce labor expenses, improving order accuracy to avoid costly returns and re-shipments, and utilizing space effectively to maximize storage capacity and avoid unnecessary expansion costs.
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