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Understanding the Role of Warehouses in Inventory Management

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Understanding the Role of Warehouses in Inventory Management

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Questions and Answers

What is one of the reasons for holding stock, as mentioned in the text?

To reduce the cost of transport and shipping

To completely eliminate the need for bulk buying

To manage seasonal production and justify larger shipments (correct)

To discourage the fluctuation in raw material prices

Why might a company choose to have a dangerous goods warehouse?

To manage seasonal production efficiently

To store products that are hazardous or flammable (correct)

For storing perishable commodities

To automate the storage and retrieval process

What is a characteristic of an automated warehouse as described in the text?

Does not involve the use of robots or conveyors

Highly affordable to implement initially

Has no added security features

Requires continuous updating and maintenance (correct)

Which factor is NOT considered when deciding on a warehouse location?

Elevation above sea level Signup and view all the answers

What is the primary aim of a warehouse according to the text?

To match product availability to consumer demand Signup and view all the answers

What is one disadvantage of a refrigerated warehouse?

Significant maintenance and repair expenses over time Signup and view all the answers

Why do warehouses hold stock?

To meet the unpredictable consumer demand Signup and view all the answers

Why might companies buy significant quantities of products according to the text?

To reduce the unit rate by buying in greater quantities Signup and view all the answers

What is NOT one of the challenges faced by today's warehouse logistics managers according to the text?

Maintaining excessive stock levels Signup and view all the answers

How does the text describe a warehouse's role in terms of goods received?

Dispatching goods quickly and efficiently Signup and view all the answers

What does the text suggest about the concept of holding stock in a supply chain?

It is essential due to unpredictable markets Signup and view all the answers

What should a warehouse NOT do with goods received?

Store goods ad infinitum Signup and view all the answers