Businesses of all sizes—from small to large—require warehouses for carrying out storage functions competently. There are diverse kinds of storehouses that set each of them apart from the others in several ways.
FREMONT, CA: A warehouse is the most significant physical storage space, advantageous for the gathering and storage of goods. Businesses of all sizes—from small to large—require warehouses for carrying out storage functions competently. There are diverse kinds of storehouses that set each of them apart from the others in several ways. Below is a detailed look at the types of warehouses:
• Private Warehouses
Private warehouses are owned and handled by manufacturers, traders, or channel suppliers. They are entirely used for their distribution activities.
• Public Warehouses
Unlike private, these warehouses are controlled and run by the government and semi-government bodies. The warehouses are utilized by private enterprises that store their commodities in return for a lease. They have been set up for assisting small traders who cannot pay for their own warehouses.
• Bonded Storage
This is a type of warehouse where the facility is used to store imported goods that need to be paid duty for. These warehouses are not only maintained but also administered and operated by both private and government agencies. If one is a private agency seeking to control the bonded warehouses, they need to obtain a permit from the government.
In this manner, government bodies can acquire control of private firms and facilitate them to pay taxes on time. Studies have found that these warehouses have mostly been situated around ports and are operated by dock authorities.
• Co-Operative Warehouse
As apparent from its name, these warehouses are owned, guided, and supervised by co-operative agencies. These societies provide storage space at a subsidized charge only to its members, where the fundamental intention is to help the members rather than earning the profit.
There are warehouse management systems (WMS) that can be employed to systematize the working of the warehouse systems. For firms dealing with third party logistics, WMS plays a pivotal role in the daily operation. This refers to a software application that assists in controlling and organizing all day-to-day warehouse operations.
