Shenzhen Yourkey Logistics Co., Ltd., as a comprehensive logistics solutions provider and implementer,can provide integrated logistics services, such as Futian Bonded area warehousing,Yantian Bonded Logistics Park warehousing,Hong Kong warehousing,distribution, trucking between China and Hong Kong,import and export agent,air and ocean freight forwarding, quality inspection.
We have high-quality staff, huge service systems, flexible management method, excellent service and advanced technology. At the same time, we have established long-term and stable cooperation relationship with a large number of shipping companies and airlines.
Supply Chain Insight: Improve Accuracy and Visibility with GS1 Standards
It’s no surprise warehouse processes have grown more complex in the on-demand economy. Greater demand and higher customer expectations mean employees must move product through the warehouse as efficiently as possible.
Warehousing technology has evolved to meet these challenges, helping employees better track inventory through the receiving and put-away processes. While these advancements address concerns within individual warehouses, they don’t provide a solution for tracking inventory throughout the supply chain. Manufacturers needed a standard system to guarantee they’d have complete visibility into shipments as they arrived.
That’s why manufacturers in industries such as food and beverage turned to GS1 standards. GS1 is a not-for-profit organization that maintains standards for business communication.
GS1’s leadership in barcode innovation stretches back more than 40 years, but we’ve yet to achieve universal adoption of GS1 standards. Even some warehouses that work with GS1 standards maintain redundant barcoding processes.
Greater adoption of GS1 standards could transform the way we work with barcodes and help warehouse managers achieve maximum efficiency.
It wasn’t long ago that most warehouses relied on manual inventory processes. Trucks would arrive, workers would take stock using pencils and paper, and items would be placed on the shelf. For managers, however, these processes were headache-inducing: If one employee recorded a wrong number while receiving stock, the consequences would ripple across the warehouse.
RF scanners erased much of the manual burden—staff could scan a barcode rather than relying on a physical record. By adding an extra set of “eyes” to the receiving and putaway processes, warehouse operators were able to achieve higher levels of inventory validity.
Still, because these barcodes contained little information beyond item listing, it was entirely possible employees could miss inventory or count it incorrectly. Supply chain innovators have introduced various solutions for the issue; for instance, advanced shipping notices provide recipients with critical inventory information, giving their team greater visibility into what stock, and how much, should arrive.
However, GS1 standards deliver the same information—and because some of the world’s largest industries follow these guidelines, greater GS1 standard adoption is a natural solution.
Companies that utilize GS1 labels comply with standards for what information is kept on barcodes—such as the weight of each case, or the quantity of cases. When you scan a GS1 barcode, you’ll know which, what kind, and how many of each product is located on the pallet. GS1 also provides standards for every step in the shipping process, including label placement and barcode color.
The challenge isn’t convincing warehouse operators to ship using GS1 labels—in fact, many warehouses receive shipments with GS1 tags on inventory, and many must place GS1 tags on items before they’re shipped.
Errors are likely to occur when warehouses place their own label on an item while it’s in inventory. This process not only wastes paper, but it also risks data loss or duplication. Because GS1 tags come with a unique identifier for the product and a unique serial number for each case that will never be duplicated, there’s no need for an internal barcoding system.
By adhering to GS1 standards, warehouses also improve traceability—a hot topic among supply chain innovators. Take, for instance, food manufacturers. Technology allows food and beverage suppliers to track every location a raw material has been during production. If there were to be an outbreak of food-related illness in a concentrated area, GS1 standards would provide manufacturers a common language to research and determine the contaminant.
Today’s supply chain demands efficiency. As warehouses do more with less, demand rises for solutions that streamline operations. If you receive GS1-labeled inventory but maintain an internal barcoding system, it’s time to consider dropping the redundant process. If you don’t currently work with GS1 barcodes, consider moving to a system that helps improve inventory validity and traceability across your supply chain.》
Yourkey Smart Warehousing Storage Services
The layman might envision warehousing storage services as simply a very large storage unit where pallets of bulk shipments simply sit and wait.
Yourkey Warehousing professionals recognize that there’s much more to safe and efficient warehousing than a lot of building space. Savvy businesses find warehousing in highly accessibly areas, like Hong Kong, Shenzhen, Guangzhou, Shanghai, Ningbo and Xiamen so that goods are within quick reach of end users. But location access isn’t the only critical component of smart warehousing. Technology is key. Yourkey Warehousing has implemented a secure, state-of-the-art, web-based Inventory Management System, allowing you to view your inventories anytime and from anywhere. EDI and barcoding capabilities are included, which enables you to organize your resources and optimize your fulfillment and distribution processes. Keep track of everything from start to finish with this exceptional system.
There are more about our warehousing services as below.
Yourkey Warehousing Logistics
Contract, Public and Food Grade Warehousing
Container Unloading and Cross Docking
Pick and Pack, Repack, Sort and Segregate
Kitting and Assembly Services
Local and International Logistics
China’s Reduced VAT Rates
China recently lowered its value-added tax (VAT) rates, as part of an RMB 400 billion (US$64 billion) tax cut package.
The Ministry of Finance (MOF) and the State Administration of Taxation (SAT) recently released the Circular about Adjusting the Rates on Value-added Tax, which explain the details of the new VAT rates.
According to the circular, the tax cuts reduce the 17 percent VAT bracket to 16 percent, and the 11 percent VAT bracket to 10 percent. The six percent VAT bracket remains unchanged. The new VAT rates will go into effect on May 1, 2018.
The MOF and SAT also recently released the Circular about Unifying the Standards of Small VAT Taxpayers, which expands the criteria for firms to qualify as a small-scale VAT taxpayer. Small-scale VAT taxpayers are now defined as those whose annual sales are less than RMB 5 million (US$796,330). Before, there were three different tiers of small-scale VAT taxpayers.
The tax cuts are part of an ongoing effort to optimize the VAT system and reduce companies’ tax burdens. At the annual Two Sessions meetings in March, Premier Li Keqiang stated that the government aims to further streamline the VAT system by reducing the number of VAT brackets from three to two.
China’s updated VAT rates follow.
How IoT enables logistics and supply chain management?
Having right things at the right place and right time is important and Internet of Things (IoT) plays a big role in ensuring the whole process runs smoothly. When we generally talk about IoT, it is generally tagged to electronics, wearables or making lifestyle more personalized and smarter. But there is much more to this technology. One sector where IoT has made a major impact is logistics. Technology has been a major differentiator in the logistics and supply chain. Whether it is warehouse management, fleet management, delivery or shipment, IoT has majorly made its impact. So let’s understand how IoT enables logistics and supply chain management.
Whether maintaining quality of consignments, tracking your employee from a centralized place, managing workforce or monitoring your energy bills and wastage, IoT can manage it all for you. Agreeing to this fact, Ali Hosseini, Founder and CEO, SenRa Tech, in 26thConvergence India 2018 conference in New Delhi, India said, “So, where is the cargo? Where are the drivers going? Has the cargo been opened, monitoring cargo quality, temperature, etc. For all this IoT is must. Asset tracking is really big. We collaborate with providers who have tracking sensors and the data collected is sent to the Cloud and is then analyzed to the optimum level.”
While the technology caters to the B2B solutions, it also delves into B2C solutions too. The technologies used in smart cities are now being used by companies to create innovative solutions.
However, in order to make the technology reach a wider population, the academia need to train industry-ready professionals who can make solutions that can cater to the needs of the customers and businesses.
According to the World Bank, Indian logistics industry has jumped from 35% to 54% in recent times. Right from tracking consignments to monitoring theft in real-time, IoT can be a big help to ensure smooth working. However, to take this technology to a larger audience, the academia needs to play a major role. Jatin Talreja, CMD, Riyanix says, IoT is going to be everywhere. The privacy will be breached in future. However, there is no choice. It is not only going to help businesses but also increase efficiency of employees The academia has to restructure its courses to train workforce that are industry-ready and understand the technology well.”
Another area where there is a huge scope is building satellite power with IoT. Space-based IoT can reach to rural areas. It is cost-effective and reliable. Agriculture is another sector which will benefit hugely. It can help in increasing farm production and stop wastage, etc.
Elaborating on this Scott Larsen, CEO, Helios Wire, says, “Our goal is to democratize IoT and make it available to everyone. Our business model is to build 30 satellites that will give a boost to this technology. They are relatively inexpensive.”
If we take an example of e-commerce logistics, you can see how businesses are customizing their products to tap the fast opportunity in India. Delhivery is one such company that has customized to leverage the technology and use it effectively to reach large population.
What it does is that through a simple smartphone it collects data, through data science technology it collates and breaks the location based on pins. In the process the company gets to know the traffic pattern of the location. How much time, money and resources will be needed to cover a location area, so that it can deliver the packages at the exact location and the time mentioned to the customer.
Srinivasan S, Senior Director, Data Science, Delhivery says, “We get to know how difficult the locality is. It increases our efficiency and helps us to maintain better customer relationship. We also get to know the whereabouts of our employees in real-time.”