Question:
Explain warehousing and its functions.
Answer:
Warehousing refers to holding or keeping of goods from the time of their production or purchase until they are sold or consumed. It removes time gap between production and consumption and thereby creates time utility. In addition to providing services of storage, warehouse also provides logistical service in a cost effective manner.
Functions of Warehouses
- Consolidation: There are certain goods which are produced in small quantities but are sold to consumers in bulk quantity. Such goods need consolidation. Warehouses receive goods in small quantities from different producers and dispatch them to consumers in bulk.
- Break the Bulk: This function is just opposite of consolidation. Under it, the warehouse receives the quantity in bulk from the producers and sells them in small quantities to consumer. These small quantities are then sold to customers according to their requirements.
- Stock Piling: Usually there is a time gap between production and consumption of goods. Warehouse fills this gap. It stores those goods which are in surplus i.e., whose supply is more than their demand. When demand exceeds supply, it makes goods available from its own stock.
- Value Added Services: Warehouses also provide some value added services like transit mixing, packaging and labeling.
- Price Stabilization: Warehouses help to equalize demand and supply and thereby stabilize the prices.
- Financing: Warehouse owners advance money to owners of goods on the security of these goods and they also provide these goods on credit to customers.
Business Services
Q 1.
Explain the functions of commercial banks with an example of each.
Q 2.
What are different types of warehouses?
Q 3.
Explain different types of life insurance policies.
Q 4.
Explain the functions of e-banking.
Q 5.
Write a short note on Indian insurance sector.
Q 6.
What do you mean by mode of transport? Name different modes of transport.
Q 7.
Explain warehousing and its functions.
Q 8.
There are three types of services: Business Services, Social Services and Personal Services. Which of the services in your opinion are of utmost importance and why?
Q 9.
Define services and goods.
Q 10.
Explain briefly the principles of insurance with suitable examples.
Q 11.
A person took an insurance policy and did not disclose that he is a patient of cancer. Which value is missing in this case?
Q 12.
Explain in detail the warehousing services.
Q 13.
What is e-banking? What are the advantages of e-banking?
Q 14.
Write short notes on different types of marine insurance.
Q 15.
What are services? Explain their distinct characteristics.
Q 16.
A person gets his stock of goods insured, but he hides the fact that the electricity board has issued him statutory warning letter to get his factory's wiring changed later on, the factory catches fire due to short circuit. Can he claim compensation? State the name of "Principle".
Q 17.
Write a short note on GATS.
Q 18.
Write a note on various telecom services available for enhancing business.
Q 19.
Manju obtained a life insurance policy of her husband. After 5 years, she divorced her husband. After one year of divorce, her husband died in a car accident. Can she claim the amount of policy from the insurance company?
Q 20.
Anju has taken a loan from Avi against the security of his factory. Can Avi take a fire insurance policy of that factory?
Q 21.
Describe various types of insurance and exercise the nature of risks protected by each type of insurance.
Q 22.
What is the difference between goods and services?
Q 23.
Write a detailed note on various facilities offered by Indian Postal Department.
Q 24.
What is the difference between life, fire and marine insurance?
