Types of Warehouses
The lesson covers the definition of warehousing and its role in storing goods. It explains different types of warehouses, including bounded warehouses, and discusses their functions and importance in business. The advantages and disadvantages of warehousing are also listed.
- 25:10 “So, I'd like you to explain this in your own words and according to your own terms. Thank you for watching. My name is Miss Lydia. Till next time. (upbeat music)”
- 22:31 “But no, for advanced warehouses, the backward process, they have to go through the backward process and make sure that each item is arranged in accordance. Now, a lot of producers seem to find this process very stressful...”
- 00:55 “Now, a warehouse, in laytems, in layman's definition, warehouses, the place where goods are stored, until they are needed for distribution or for consumption. It is a place where manufacturers, who sell as store their go...”
Meaning and Types of Trade
The lesson explains the concept of trade as the buying and selling of goods. It describes the types of trade, including own trade and foreign trade, and outlines the services that facilitate trade. The role of Customs and Excise in foreign trade is also discussed.
- 21:04 “They have to have a warehouse where they will store all these goods. Because there is no market that will take content everything at once. So it is an act of storing products or goods for distribution purposes, owned bas...”
- 17:59 “They are just trying to persuade their target group. Transportation. Let's look at transport. It has trade a lot. This is a mode and system of caring people or goods. For example, you want to buy a school bag from the Un...”
- 20:19 “And tourism is a very, very efficient and also very relevant when it comes to trade. Some organizations normally provide information to tourists and communicate, then in better way, what to expect, the shock or cultural...”
Channels of Distribution
This lesson covers the channels through which goods move from producers to consumers. It explains the roles of wholesalers and retailers, the functions of cooperative societies and government agencies in distribution, and identifies problems in distribution along with possible improvements.
- 08:25 “you know in such a way that with effects he will do the wholesaler himself. So he maintains price stability by keeping those goods in the warehouse. Advertising like he is in advertising and advertising the goods to the...”
- 06:02 “in bulk and keeping them in the warehouse he bears risk because if the price falls down as at the time those such goods are still in the warehouse he's the one that will be at the risk of reduction in prices. Branding an...”
- 07:34 “makes it easy for them to buy a small quantity. Transportation services. Like I said earlier, after getting those goods into his warehouse from the manufacturer, he also transports them to the retailers to distribute it...”
Types of Production
This lesson defines production and explains its types, including primary, secondary, and tertiary production. It also discusses the extraction of raw materials and the transformation into finished goods.
- 10:57 “to get those goods to be consumers are either by air, by water or by road, okay? And before those goods will be able to get to the consumer, it may be stored in our warehouse, okay? Until those goods are being needed. An...”
- 09:16 “services, we can also divide them into three direct services, an environment to have commercial, direct services are those ones who give you direct service and pay for the services given to you. All right? In direct, tho...”
- 05:09 “It concerns with rendering of services. This one is aspect of services, potentially a stage of production involved distributing those goods to the final consumer. The people involved in this production, stage of producti...”
Introduction to Operations Research
This lesson defines operations research and explains its application in management, industry, and business. It covers the steps involved in solving problems using mathematical models and discusses different types of models used in operations research.
- 14:55 “to the table. And that is we have the supply yet. We have the first column, we have the second column yet, and we have the first through second row and third row. So we have 55 tombs, we have 55 tombs, and we have 120 fo...”
- 13:21 “method. A plastic manufacturing company has a production plant in Lagos, if I don't have an area. The available stocks in the three plants are 50 tones, 40 tones and 30 tones respectively. So we use this table. OK, the c...”
- 14:09 “Now, we want to determine how much should be transported from each point to each warehouse as to minimize transportation cost. And we want to find-- we want to use the least cost method to find the transportation cost. N...”