5.1 This guide provides the considerations for the management of warehouses and warehouse contents.
5.2 The central objective of this guide is to ensure that warehousing activities appropriately contribute to the mission of the entity.
5.3 Measuring and managing the effectiveness of an entities’ warehousing activities should result in sustained usefulness of warehoused assets, reduced administrative costs, improved accountability, and enhanced operational performance.
5.4 This guide makes a differentiation between the physical warehouse facility (also called “Real Property”) and the contents of the warehouse (also called “Personal Property,” “moveable asset,” “product,” or similar term that differentiates the contents of the warehouse from the physical structure of the warehouse itself). Considerations of both these aspects of the warehousing function must be coordinated to lead to effective warehousing activities.