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MKTG 101 FINALS > CH5 > Flashcards

CH5 Flashcards

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1
Q

is an act of storing and assorting the finished goods to create maximum time utility at minimum cost.

A

Warehousing and storage

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2
Q

involves proper management for preserving goods from the time of their production or purchase till actual use.

A

STORAGE

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3
Q

is the activity of storing products at warehouses and logistics centers

A

STORAGE

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4
Q

Its role is to provide a steady supply of goods to the market to fill the temporal gap between producers and consumers.

A

STORAGE

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5
Q

It also plays an important role in maintaining quality at warehouses and logistics centers and the value of products.

A

STORAGE

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6
Q

refers to the process of storing goods in a secure facility to facilitate the smooth flow of products from production to consumption, acting as a crucial link between suppliers and customers.

A

WAREHOUSING.

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7
Q

When storage is done on a large scale and in a specified manner

A

WAREHOUSING.

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8
Q

encompasses the processes and decision-making involved in the daily operations of a warehouse, focusing on efficient handling and storage of goods, from receiving to shipping.

A

WAREHOUSE MANAGEMENT

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9
Q

It includes activities like inventory control, order fulfillment, and warehouse organization,

A

WAREHOUSE MANAGEMENT

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10
Q

aiming to optimize space utilization, minimize costs, and ensure smooth supply chain operations.

A

WAREHOUSE MANAGEMENT

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11
Q

FUNCTIONS OF WAREHOUSING

A
  1. Receiving and Putaway
  2. Storage
  3. Picking and Packing
  4. Shipping
  5. Inventory Management
  6. Order Fulfillment
  7. Value-Added Services
  8. Supply Chain Support
  9. Security and Protection
  10. Transportation Coordination
  11. Demand Stabilization
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12
Q

involves receiving incoming goods,
verifying the shipment against the order, and placing the goods in designated storage locations within the warehouse.

A

Receiving and Putaway

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13
Q

The primary function of a warehouse is to provide storage space for equipment, inventory or other items

A

Storage

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14
Q

It offers appropriate facilities to the enterprises for storing their goods when they aren’t called for a sale.

A

Storage

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15
Q

This helps prevent wastage of stock and ensure its protection and safety. Such goods may be held from the time of their production or purchase till their use or consumption.

A

Storage

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16
Q

This process involves selecting the specific products needed to fulfill customer orders, gathering them from their storage locations, and packing them for shipment.

A

Picking and Packing

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17
Q

Warehouses coordinate the outbound transportation of goods to customers, ensuring timely and efficient delivery.

A

Shipping

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18
Q

This crucial function involves tracking stock levels, preventing overstocking or stockouts, and maintaining accurate records of all goods in the warehouse.

A

Inventory Management

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19
Q

Warehouses play a vital role in fulfilling orders by managing the entire process from receiving the order to dispatching the goods to the customer.

A

Order Fulfillment

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20
Q

Some warehouses offer additional services like labeling, kitting, assembly, and quality control to enhance the value and readiness of products.

A

Value-Added Services

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21
Q

Warehousing plays a key role in supporting the overall supply chain by ensuring the efficient flow of goods from producers to consumers.

A

Supply Chain Support

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22
Q

Warehouses are designed to protect goods from theft, damage, and environmental factors, ensuring the integrity of stored items.

A

Security and Protection

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23
Q

Warehouses often handle the coordination of inbound and outbound transportation, optimizing logistics for cost-effective distribution.

A

Transportation Coordination

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24
Q

Warehousing can help balance supply and demand by maintaining a buffer stock to handle market fluctuations and prevent shortages or surpluses.

A

Demand Stabilization

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25
IMPORTANCE OF WAREHOUSING
IMPROVED INVENTORY MANAGEMENT OPTIMAL PRODUCT SAFETY EFFICIENT ORDER FULFILLMENT PROCESS FASTER SHIPPING BETTER CUSTOMER SERVICE DELEGATE TASKS
26
TYPES OF WAREHOUSING
1. Public warehouses 2. Private warehouse 3. Distribution centers 4. Fulfillment centers 5. On-demand warehouses 6. Cold storage and climate-controlled warehouses 7. Bonded Warehouses 8. Hazmat Warehouses. 9. Reverse Logistics Warehouses. 10. Manufacturing or Production Warehouse
27
These facilities offer warehousing and logistics services to various businesses.
Public Warehouses
28
They are owned and operated by third-party companies and are suitable for small and medium-sized businesses that don’t have the opportunity to invest in their own warehouse but have storage needs nonetheless.
Public Warehouses
29
This is the most common warehousing solution.
Private Warehouses
30
It is a warehouse owned and operated by the company that uses it.
Private Warehouses
31
It’s usually close to their manufacturing facility or retail store.
Private Warehouses
32
These warehouses usually have a high turnover rate
Distribution Centers
33
Goods are stored there for a short period of time. That’s why efficiency is very important for ____
Distribution Centers
34
They can be both private and public. E.g. J&T, Shopee Express
Distribution Centers
35
The main difference between this type of warehousing solution and distribution centers is that they are operated by a ___?
third-party logistics provider
36
Small and medium-sized eCommerce retailers use ___ to outsource storage and shipping costs. E.g. Amazon, Shopify, Shopee
Fulfillment centers
37
These are flexible warehousing solutions that both individuals and companies can hire
On-demand warehouses
38
They are usually used for short-term storage.
On-demand warehouses
39
As their names suggest, these facilities offer temperatures that are suitable for perishable foods or for other goods that require special conditions such as electronics or artwork.
Cold storage and climate-controlled warehouses
40
is a facility that stores imported goods under the supervision of customs authorities.
Bonded Warehouses
41
This type of warehouse allows businesses to temporarily store goods without immediately paying the required customs duties and taxes until the products are released
Bonded warehouse
42
Inventory can stay in a bonded warehouse for five years.
Bonded warehouse
43
A hazmat warehouse, also known as a
hazardous materials warehouse
44
is a facility that safely stores and manages hazardous materials or dangerous goods
Hazmart Warehouses
45
These hazardous goods can include flammable, corrosive, and toxic substances that pose a risk to health, safety, property, or the environment if not properly stored and managed.
Hazmart Warehouses
46
is a facility that handles the process of moving goods from the customer back to the distributor due to product returns, recalls, or repairs.
Reverse Logistics Warehouses
47
It is integrated within a manufacturing facility
Manufacturing or Production Warehouse
48
It serves as a storage space for raw materials, components, work-in-progress inventory and finished goods that are part of the manufacturing process.
Manufacturing or Production Warehouse
49
occur when the overall logistics costs are reduced.
Economic benefits of warehousing
50
gained through warehouses in a logistical system may or may not reduce costs.
Service benefits
51
When a warehouse is primarily justified on the basis of service, the supporting rationale is an improvement in the time and place capability of the overall logistical system
Service benefits
52
The economic benefits are as follows
Consolidation Break bulk and cross-dock Processing/ postponement Stockpiling
53
involves the collection of small shipments from various suppliers and their consolidation into larger, more economical truckloads bound for similar destinations.
CONSOLIDATION PROCESS
54
conversely, receives large shipments and divides them into smaller quantities for delivery to multiple customers.
BREAK BULK WAREHOUSES
55
Warehouses can also be used to postpone, or delay, production by performing processing and light manufacturing activities
PROCESSING/POSTPONEMENT
56
A warehouse with packaging or labelling capability allows postponement of final production until actual demand is known.
PROCESSING/POSTPONEMENT
57
arises from the need for seasonal storage.
STOCKPILING
58
helps in maintaining inventory buffers, which allows production efficiencies within the constraints imposed by material sources and the customer.
STOCKPILING
59
helps in maintaining inventory buffers, which allows production efficiencies within the constraints imposed by material sources and the customer
STOCKPILING
60
gained through warehouses in a logistical system may or may not reduce costs
Service benefits
61
Placing a warehouse in a logistical system to service a specific market segment may increase cost but might also increase market share, revenue, and gross margin.
Service benefits
62
The service benefits are as follows:
Spot-stocking( e.g. storing seasonal vegetables) Assortment ( e.g. holiday gift set) Mixing Product support Market presence Full-line stocking Value Added Service
63
TYPES OF LOADING DOCKS USED IN WAREHOUSES FOR FASTER SHIPPING
1. Flush Docks 2. Enclosed Docks 3. Sawtooth Docks 4. Depressed or Declining Loading Docks 5. Open Loading Docks 6. Drive-in Dock
64
65
represent the standard in loading dock design, aligning perfectly with the building to create a smooth transition from truck to warehouse.
Flush Docks
66
This design simplicity facilitates straightforward loading and unloading processes, minimizing the risk of damage to goods and equipment.
Flush Docks
67
are versatile, accommodating a wide range of vehicles and cargo types, making them ideal for businesses with diverse logistical needs.
Flush Docks
68
offer a fully sheltered loading and unloading environment, integrating the dock inside the building.
Enclosed Docks
69
This design provides superior protection against adverse weather conditions and enhances security for high-value goods.
Enclosed Docks
70
The controlled environment reduces the risk of product damage and improves worker comfort and safety.
Enclosed Docks
71
are particularly beneficial for operations sensitive to temperature and those requiring an additional layer of security for their logistics.
Enclosed Docks
72
characterized by their angled docking bays, are ingeniously designed to maximize space efficiency and improve vehicle maneuverability.
Sawtooth Docks
73
This configuration allows trucks to back into docks at an angle, reducing the required turnaround space and enabling easier navigation for drivers
Sawtooth Docks
74
are especially useful for facilities with limited space or those needing to manage a high volume of incoming and outgoing shipments simultaneously.
Sawtooth Docks
75
have a slope that lets trucks line up with the dock easily, even on hills or uneven ground
Depressed or Declining Loading Docks
76
This setup is great for places where flat docks don’t work well.
Depressed or Declining Loading Docks
77
It helps make loading and unloading safer and quicker, and it’s good for any business dealing with trucks of different sizes.
Depressed or Declining Loading Docks
78
are unenclosed platforms that extend from the warehouse, offering direct access for trucks without the barrier of a building wall or door
Open Loading Docks
79
which have a main door and are integrated into the structure for a seamless transition
flush docks
80
are exposed to the outside, making them easily accessible for staff but vulnerable to the elements and theft
Open Loading Docks
81
While their openness provides flexibility, it requires strategic planning to ensure goods are protected.
Open Loading Docks
82
Drive-in docks, also referred to as
drive-through docks
83
are characterized by their unique design, allowing vehicles to drive directly into the warehouse or facility for loading and unloading operations
Drive-in Dock
84
They feature openings on both ends, enabling vehicles to enter from one side and exit from the other
Drive-in Dock

MKTG 101 FINALS (2 decks)

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