Answer to Question #231211 in Management for Sukoluhle

Question

Explain warehouse ownership in your company, compare it with the other 2 methods of ownership:

Answer 1

In our company we have private ownership of the warehouse. The company owns the warehouse and stores its own goods which include raw materials for juicy products. The warehouse is well refrigerated, well cleaned with shelves and we have the full control of the warehouse without any intruder.

Other forms of ownership of the warehouses are; government owned warehouses which businesses which cannot own warehouse rent to store their goods for a certain period of time. The ownership is temporary and can be extended on lease terms. The business person has no control on the usage of the warehouse but rather has to follow the guidelines issued by the government.

Bonded warehouse ownership- it occurs when one rents warehouse space to store goods awaiting clearance from the revenue authority. It mostly occurs when the business person does not have enough funds to clear customs.