Tamilnadu Samacheer Kalvi 11th Commerce Notes Chapter 13 Warehousing Notes

→ The term “Ware” means products or goods.

→ “Warehousing” generally means storage place or godowns which is located near a factory to keep the raw materials and finished products.

→ According to J. Stephenson, “a warehouse in an establishment for the storage or accumulation of goods.

→ “A warehouse is a commercial building for storage of goods. Stored goods can include any raw materials, packing materials, spare parts, component or finished goods associated with agriculture, manufacturing and production”.

→ Private warehouses are built and owned by private business enterprises in order to store the products produced by them.

→ Bonded warehouses are those warehouses, which are licensed by the government to accept storage of imported goods which are not cleared due to non-payment of customs duty by the importer.

→ Underground storage structures are used by farmers in villages to store food grains.

→ Goods are transported in refrigerated containers and stored in refrigerated warehouses.

→ To develop and regulate the warehousing industry in India Warehousing Development and Regulatory Authority was established under the Warehousing (Development and Regulation) Act, 2007.

→ Transit Mixing refers to a function in which warehouse receives products from different plants and mix and repack them as per client’s requirement.

→ Warehouses reduce distribution cost of the traders by storing the goods in bulk and allow the trader to take the goods in small lots to his shop.

→ Warehouse Warrants is a document issued in favour of the owner or depositor of goods by the warehouse keeper.

→ Dock is a place in the harbor where the goods are loaded into the ship.

→ Dock receipt is an acknowledgement of receipt of goods issued by dock authorities to the owner of the goods.

→ Delivery Order is a document through which the depositor directs the warehouse keeper to deliver the specified goods either to the party mentioned in the document or to the bearer.

→ India is an agrarian country but the importance of warehousing was not felt till 1950.

→ The available storage capacity of Central Warehousing Corporation is 11.17 million tonnes and with the operation through 464 warehousing centers across the country.

→ Every state government is given power to establish its own Warehousing Corporation after getting approval from the CWC.

→ The available storage capacity of TNWC is 6.83 Lakh MT with 7 Regional offices and 256 Godowns across the state.

→ From 2019, new technology could be revolutionary and improving efficiency in warehouse by Warehousing Management System (WMS).

Samacheer Kalvi 11th Commerce Notes