Explain types of warehouses?
Solution:
1) Private Warehouses:
The private warehouses are owned and operated by big manufacturers and merchants to fulfill their own storage needs. Big business firms that need large storage capacity on a regular basis and who can afford the money, construct and maintain their private warehouses.
2) Public Warehouses:
A public warehouse is a specialized business establishment that provides storage facilities to the general public for a certain charge. It may be owned and operated by an individual or a cooperative society. It works under a license from the government in accordance with the prescribed rules and regulations. Public warehouses provide storage facilities to small manufacturers and traders at a low cost. These warehouses are well constructed and guarded round the clock to ensure safe custody of goods. Public warehouses are generally located near the junctions of railways, highways, and waterways.
3) Bonded Warehouses:
Bonded warehouses are licensed by the government to accept imported goods for storage until the payment of customs duty. These warehouses work under the control of customs authorities.
The warehouse keeper is required to give an undertaking or 'Bond' that it will not allow the goods to be removed without the consent of the customs authorities. The goods are held in bond and cannot be withdrawn without paying the customs duty.
4) Duty paid Warehouses:
If an importer faces any problem in the transportation of goods, after making payment of duty, then goods can be stored at a duty-paid warehouse. All duty paid warehouses are public warehouses that are available to all importers. Duty paid warehouses help the importer as proper care of goods is taken, processing of goods can be done like sorting, re-packing, etc.
5) Government Warehouses:
These warehouses are owned, managed, and controlled by central and state governments or public authorities. It is difficult for small farmers, businessmen, traders to own a warehouse, so these government warehouses assist them in storing their goods at a nominal charge.
6) Co-operative Warehouses:
These warehouses are owned, managed, and controlled by co-operative societies. They mainly provide warehousing facilities at the most economical rates. These types of warehouses are very useful for farmers and traders and the general public.
7) Cold storage Warehouses:
Cold storage warehouses provide facilities for perishable commodities like fruits, flowers, vegetables, dairy products, etc. In cold storage warehouses, goods are stored and refrigerated at very low temperatures so as to preserve them and use them in the future. International trade has become possible due to these warehouses.
