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Class notes Supply Chain Management (BUSN10190)
Warehousing and Inventory Management Basics ( LECTURE NOTE)
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Warehousing and Inventory Management Basics( LECTURE NOTE)
Definition:
A simple definition of a warehouse is:
‘A warehouse is a planned space for the storage and handling of
goods and material.
In general, warehouses are focal points for product and
information flow between sources of
supply and beneficiaries.
Policies and Procedures:
Examples of the types of policies for inventory management that
organisations will define are as
follows:
Organisational specific warehouse management policy and
procedures guideline outline
Health and safety
Human resources management
Security
Pest control
Warehouse maintenance and cleaning
Quality control
Record keeping and reporting
Reverse logistics – Return of goods and exit strategy in the
event of downscaling or shutting
down operations
Disposal of obsolete and damaged goods.
Procedures:
The procedures' document defines step by step how the activities
in the warehouse should be
carried out and clearly defines the processes to be adopted.
These can be adopted as ‘best
practice’.
Procedures and step by step guidance on how to manage each
aspect of warehousing are outlined
, below:
receiving and issuing of supplies.
quality control or verification.
storage of goods.
how to control stock movement (stock control).
documentation flow.
how to detect and deal with stock losses
how rejected material will be managed; and
how to deal with unwanted material, obsolete and scrap,
disposal
Types of Warehouse Space
Commercial: in rented building used for business.
Government or state: such as at the ports or harbours. This
is common in emergency
situations.
Transit: for temporary storage of goods destined for different
locations and need storage for
a very short time.
Bonded warehouses: for storage of goods whose duty is
unpaid and especially where the
goods are destined to another country. Pre-positioned stock
is often held in bonded
warehouses so that export is quick and can sometimes be
stored for long periods.
Open storage: not ideal for perishable products but in
emergencies, sometimes the only
alternative.
Space that is owned and managed by the organisation.
Basic Principles of Warehouse and Inventory
Management
Planning inbound receipt procedures.
Storage formalities e.g:
location management
inventory control
occupational health and safety
Outbound delivery procedures.
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