Making the most of Supply Chain Consulting

One of the crucial factors in a collaborative and committed relationship between supply chain partners is trust. If there is trust, then it can enhance the chances of a successful supply chain association. Else the transaction expense can increase owing to poor performance. Enterprises require trust for being agile and flexible. However, developing trust can be elusive and even difficult to maintain. Trust in a supply chain evolves owing to commonalities amidst the partners and can take time to develop. Therefore, organizations need to resort to efficient supply chain consulting to have successful supply chain relationships.

 

Supply chain consulting and increased efficiency

One of the advantages of partnering with an appropriate supply chain consulting firm is to have all your unique requirements addressed. If its time to assess your organization’s supply chain, in terms of its strength and weakness, exploring possible improvement scopes supply chain consulting is the place to start with. Leading service providers of supply chain consulting solutions offer staffs that are all set to work with your enterprise to make sure that you are reaping all the benefits.

 

The way it works is very simple. The solution provider develops a precise overview of your inventory management systems. Furthermore, they also offer relevant advice and suggestions for setting up an optimal supply chain solution for the company. Owing to the fact that every business has its uniqueness the solution provider will customize solutions depending on particular needs you have. The idea is to develop an individual approach than a “cookie clutter” one.

 

However, the best asset any company owns is its “people” or more precisely the “working staff”. One of the sure shot ways to discern as to how a company works is by knowing its people. Eminent solution providers have their own consultation staff offering high quality assistance in a professional manner. Other supply chain consulting services offered are:-

 

·         Supply Base Qualification and Procurement

·         Supply Chain Fulfillment Solutions

·         Systems Integration, Configuration and Test

·         Forward Logistics and Distribution

·         Reverse Logistics and Returns Management

 

However, enterprises need to be cautious about optimizing the trust in supply chain relationships, as it might take resources from other aspects of the chain to set up the same. Hence they need to be careful about not investing under or over whilst setting up this trust. At the same time selecting a service provider too needs proper assessment and discernment. Though the market is filled with numerous brands, it is essential to choose a supply chain consulting partner that suits your business needs and budget.

Read more on Rack and stack

 

Importance of Effective Tax Planning

Tax planning is an essential aspect, financially as well as individually. It is a fact that tax laws remain the same, irrespective of the size of the corporate taxpayer. However, if you are an American citizen and want to waive off your tax, then we suggest that is not the apt way of going about it. However, you can always seek professional by the way of which you can lessen your individual tax return.

It has been noted that when it comes to abiding by the tax laws and its implications, large business firms in the US generally make use of interpretations and technicalities to their advantage. The small business firms however, simply adhere to the tax rules and policies. Eminent tax planning firms enables the small business firms to aptly manage their operations to leverage strategies for lowering the tax bill.

Elements of appropriate tax planning

True strategic tax planning generally creates a quantifiable bill for consumers. There are small business firms that want to secure simple tax compliance that are at the lowest fee, but it however seems logical pay a little higher professional charges that would ensure tax savings. Today most entrepreneurs have realized that paying a slightly more in terms of professional charges is synonymous for generating tax savings that outweigh the initial expenses. Hence, the entrepreneurs need to accept that a positive balance sheet is a better option than remitting excess money in taxes. It is imperative for business owners today to not be dependent on any inadequate tax planning advice but rather seek professional help.

This is where advanced tax planning comes into action and operates by not breaking any laws or regulations. Under this you simply take the services of an expert tax consultant who can assist you in lower your tax bill efficiently and systematically.

Innovative Tax Planning Solutions

Today the market is filled with eminent tax planning service providers that help you in filing your individual tax return. These companies understand their client’s situation and then apply their expertise of the evolving tax rules in planning the apt business and personal decisions. Expert tax consultants prepare individual tax return correctly and at the right time. Financial planning service is yet another way to stay aware of the everyday changing tax laws.

Effective tax planning is a crucial part of financial success in business today. Qualified tax consultants help you to expand your business by estimating the taxes appropriately and provide you with solutions to arrange your finances in the best possible manner.

Read Also On: FBAR, Entity Formation

Features of Clinical Laboratories

A clinical laboratory is a medical pathology or microbiological laboratory where medical professionals can conduct tests on clinical specimens for obtaining important data about health of a patient, regarding treatment, diagnosis and disease prevention.

Clinical Laboratory Types

In different countries, there are two main kinds of clinical laboratories that process most medical specimens. First the Hospital laboratories are associated with a hospital, for conducting medical tests on patients. Second the Private laboratories mostly receive samples from insurance companies, general practitioners, health clinics and clinical research organizations for analysis. This is also termed as reference laboratories where there obscure and unusual tests are carried on. In case of extremely specialized tests, specimens generally are sent to research laboratory. It is cost-efficient if a specific laboratory specialized in rare tests, receiving specimens from other laboratories from other laboratories while sending away the ones that it cannot manage. These apart, other three kinds of clinical laboratories present in various countries are:-


  • Clinical pathology laboratories

  • Clinical microbiology laboratories

  • Clinical biochemistry laboratories

Features of Clinical Laboratories

In India eminent clinical research organizations possess their own clinical laboratories that act as a Central laboratory and are the base of numerous medical studies, such as Phase 1 Study. All the research activities here are approved by NABL and CAP. These laboratories form a crucial part of numerous testing programs with international and national labs to retain high quality controls.

Furthermore, eminent clinical laboratories are equipped with advanced state-of-the-art medical infrastructure and other logistic equipments. Apart from that, there are highly trained experienced medical professionals supported with Laboratory Information Management Systems (LIMS) for transferring online data and guarantee quicker turn-around time with extraordinary levels of quality and consistency. Other clinical investigations that are carried on clinical laboratories include:-


  • Hematology

  • Urine Analysis

  • Coagulation Studies

  • Biochemistry

  • Clinical Pathology

  • Endocrinology

  • Serology

  • Inflammatory/Immune markers

  • Infectious Disease Markers

  • Therapeutic Drug Monitoring

  • Tumor Markers

  • Lipid Profile

  • Liver Function Test

  • Anemia Profile

  • Renal Profile

  • Diabetic Profile

  • Biomarkers

  • Capabilities for other kinds of medical tests

Since, clinical laboratories are the backbone of all medical studies, research, investigations and clinical trials it is essential to keep them well maintained and updated from time to time. Eminent CRO’s in India exercise extra caution to keep the clinical laboratories hygienic, updated and equipped with the latest medical equipments. In the recent past, the Government too has taken into consideration to develop the medical sector and the state of clinical laboratories.

Read Also On: Biometrics, Phase I Study  

Understanding Special Economic Zones

In the EXIM Policy 2000, Special Economic Zone (SEZ) is defined as "a specifically delineated, duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs." Special Economic Zones (SEZ) are certain geographical regions within a nation where the financial and economic laws, which are applicable in other parts of the nation, are relaxed with the aim of encouraging foreign direct investment in the respective country’ economy. Hence, these areas enjoy customs duty and tax exemptions and a liberal atmosphere for foreign investment and transactions. Usually industrial, service and trade operations are carried out in special economic zones. The following are the five main objectives of SEZ.


* Encourage export of goods and services

* Promote investment from domestic and foreign investors

* Generate additional economic opportunities

* Create employment opportunities

* Develop infrastructure facilities


Special economic zones are of different types and it includes Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Parks or Industrial Estates (IE), Free Ports, Urban Enterprise Zones, Technical Zones or Innovational Zones, Industrial Zones or Developmental Zones and Tourist Zones.


Asia’s first Export Processing Zone (EPZ) was in India. It was set up in Kandla in 1965. Since then, many special economic zones have been set up in different parts of India. As of June 2012, there are 143 operating special economic zones in India and there are 634 SEZs formally or principally approved by the government of India. Through SEZs, India has earned INR 3.16 Trillion in exports in 2010-11 fiscal. Moreover, as of 2010-11, SEZ created more than 840,000 jobs.


The entrepreneurs developing units in SEZ benefits from


* Exemption from Customs/excise duties

* Exemption from Income Tax on income derived from the business of development of the SEZ in a block of 10 years in 15 years

* Exemption from Minimum Alternate Tax

* Exemption from Dividend Distribution Tax

* Exemption from Central Sales Tax (CST)

* Exemption from Service Tax


In return, the developer is required to


* Maintain proper (financial year wise) and accurate accounting records

* Implement subcontracting with the permission of the specified officer

* Achieve positive Net Foreign Exchange (NFE) earning cumulatively for a period of 5 years from the start of production

* Import goods and items only after receiving valid LOA

* Submit annual performance reports to the Development Commissioner

* Execute a bond cum legal undertaking with the Development Commissioner and Zone Customs

* Comply with the environmental and pollution control rules

* Abide by the wastage norms admissible under the Foreign Trade Policy


Related links:  Precision machining ,  Aerospace manufacturing

Understanding Special Economic Zones

In the EXIM Policy 2000, Special Economic Zone (SEZ) is defined as "a specifically delineated, duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs." Special Economic Zones (SEZ) are certain geographical regions within a nation where the financial and economic laws, which are applicable in other parts of the nation, are relaxed with the aim of encouraging foreign direct investment in the respective country’ economy. Hence, these areas enjoy customs duty and tax exemptions and a liberal atmosphere for foreign investment and transactions. Usually industrial, service and trade operations are carried out in special economic zones. The following are the five main objectives of SEZ.


* Encourage export of goods and services

* Promote investment from domestic and foreign investors

* Generate additional economic opportunities

* Create employment opportunities

* Develop infrastructure facilities


Special economic zones are of different types and it includes Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Parks or Industrial Estates (IE), Free Ports, Urban Enterprise Zones, Technical Zones or Innovational Zones, Industrial Zones or Developmental Zones and Tourist Zones.


Asia’s first Export Processing Zone (EPZ) was in India. It was set up in Kandla in 1965. Since then, many special economic zones have been set up in different parts of India. As of June 2012, there are 143 operating special economic zones in India and there are 634 SEZs formally or principally approved by the government of India. Through SEZs, India has earned INR 3.16 Trillion in exports in 2010-11 fiscal. Moreover, as of 2010-11, SEZ created more than 840,000 jobs.


The entrepreneurs developing units in SEZ benefits from


* Exemption from Customs/excise duties

* Exemption from Income Tax on income derived from the business of development of the SEZ in a block of 10 years in 15 years

* Exemption from Minimum Alternate Tax

* Exemption from Dividend Distribution Tax

* Exemption from Central Sales Tax (CST)

* Exemption from Service Tax


In return, the developer is required to


* Maintain proper (financial year wise) and accurate accounting records

* Implement subcontracting with the permission of the specified officer

* Achieve positive Net Foreign Exchange (NFE) earning cumulatively for a period of 5 years from the start of production

* Import goods and items only after receiving valid LOA

* Submit annual performance reports to the Development Commissioner

* Execute a bond cum legal undertaking with the Development Commissioner and Zone Customs

* Comply with the environmental and pollution control rules

* Abide by the wastage norms admissible under the Foreign Trade Policy


Related links:  Precision machining ,  Aerospace manufacturing

Secure Your Web Applications Today

Anyone browsing the internet is not immune from security threats. In a rushed pace to set up online services, web applications have been developed and implemented without much attention given to security breaches. This results in a huge number of corporate websites that remain vulnerable to hackers and third party intruders. There have been instances where prominent websites  belonging to government, financial, retail and healthcare domains are attacked regularly. The consequences of these security breaches are revenue loss, damage of credibility, loss of consumer trust and legal liability.


Websites applications perform essential functions such as collecting personal, confidential and classified data, for instance medical history, credit and bank account information and user feedback. With  enterprises  legally bound by legislations such as HIPAA, COPPA, and GLBA to safeguard the security and privacy of personally identifiable data, they can run the risk of being non-compliant if hackers have access to this critical information.


According to Gartner, approximately 75 percent of security attacks have been emerging from web applications. Therefore, web application security is an essential risk and privacy compliance concern that enterprises need to  address.


Industry Solutions for Web Application Security

 

In order to address the web application security needs eminent companies specializing in identity access management have introduced innovative web application security solutions. They operate in the following ways:-


·         Design and Strategy

In this stage, the company evaluates the client’s requirements and sets up an effective security requirement, strategy and policy. It analyses the crucial information to be managed by the application and other aspects such as who will be the administrator, the way it will be used, with whom it is going to be shared and so on. Depending on the risk assessment, an application security framework is set up that helps in improving performance, robustness and usability.


·         Control Implementation

In this phase, the service providers help their clients to set up and implement apt security controls and technologies for instance encryption, authorization, authentication, device authenticity, code access security and many more. It offers project management and technical deployment skills, to execute efficiently according to the design criteria, without infringing any compliance requirements that the solutions need to comply with.


·         Sustenance and Optimization

In this phase, the solution provider helps the client to optimize and fine tune the technology implementation to make sure that there is reduction in security breaches with continuous assistance and secure remediation to resolve any unwarranted threat.



Innovative application security solutions help enterprises to identify and secure application data by setting up security frameworks, security design patterns and secure controls within the applications. Top notch service providers with their application security software have helped multiple organizations and e-governance initiatives to ensure security, avert harmful effects of data protection loss to a business’s reputation.


 

Read more on - Information Risk Management,

Banking IT security

 

 

 

 

Tips to Ensure Effective Cloud Security

Cloud computing is ushering a new era of computing globally, with powerful technologies being used to deliver convenient technology solutions cost-effectively and hassle-free over the cloud.

Moving to the cloud has its own set of challenges, as it involves moving the data that you have been protecting for last three decades in a self owned environment to an internet based environment.   Although data in the cloud is more secure than on-premise solutions, security and associated risks  is an  important criterion. In order to maximize cloud's advantages, businesses must build secure cloud applications and services. It is important to understand the implication of security breaches and organizations need to change the data protection solutions policies.

·         Be prepared for a data  breach


Moving to the cloud brings its own sets of risks such as data leaks, threats from APT and insiders and regulations. Organizations need to plan, as there are significant changes in their information lifecycle, business continuity; apart from that they need to address legal and regulatory issues. Planning has to be a major part of cloud security   

·         Incorporate security in your cloud model


A completely logical and well structured model based on an understanding of your needs and policies is the key to a robust security system. Such a cloud model needs to take into account essentials like data value, compliance, attitude to risk, and potential exposure points, etc. It is also important to identify the business priorities for moving into the cloud, as an understanding of the business context will help you weigh security concerns more accurately.

·         Reinforce your security at the hardware level


Security need not only be a software matter but can be included at the most basic hardware level to reinforce defenses. Edge devices that are more exposed to compromise, and attacks are those devices that are increasingly being mounted on at the deepest levels, below those of the application or operating system.  Providing security in hardware at the processor level allows you to start your security chain with a root of trust.

·         Protect Data with Encryption


Encryption ensures data protection for data that is at rest, in process and in flight because, even if it gets lost, it remains unusable without the right keys. You should consider encrypting data in flight over networks, using protocols. Despite the concerns of some IT managers about the computational burden of encryption, the advances in today's hardware can reduce these complexities.

·         Authenticate identities before going into the cloud


Authentication ensures that people and machines can be trusted. The process of verification of individuals and devices is critical to any security process. When moving to the cloud, you are implementing a new set of entities, which makes it imperative to ensure that the starting point is secure. This requires a trusted root of security that can measure the compliance of platform components.

Cloud security is not a process that can be completed in single step. It requires constant innovation; building new methods to overcome traditional security issues with every feature enabling the easy and secure usage. Partner with a service provider that uses new technologies to ensure a secure cloud application.

Also read on - risk management frameworks, identity access management

Use Industrial Earplugs in High Noise Areas

The modern day ambiance is characterized by environmental and occupational hazards. One of the many concerns that have gained prominence in the past few years is noise pollution and its adverse side effects. These effects are mostly felt by employees and working staff that has to sustain in loud noise surroundings. Loud noise surroundings mostly generate from industrial sectors such as aviation, mining, construction, industrial go-down works, and on-site constructions and so on. The effects vary from temporary dizziness, nausea, headaches, and neck pains to permanent hearing loss. Other non-auditory ailments experienced by many include fatigue, nervousness, annoyance and decreased efficiency.

 

Keeping all these above concerns in mind, most organizations have taken hearing protection initiatives more seriously than ever. The objective is to protect the individual’s auditory health from getting damaged owing to heavy noise surroundings. The best way therefore is to resort to advanced hearing protection devices in the form of earplugs, safety earmuffs and head phones. These noise reducing devices are manufactured using the latest technology enhances the speech quality and clarity and suppresses the excess noise. However, the wearer can hear the background sound but that does not come in the way of his communication. Rather, the background sound helps an individual to identify the location he is in.

 

Innovative hearing protection industrial earplugs are build using high end technologies that are apt for heavy as well as general use. As a result a standard certification is needed. These devices are easy to use, comfortable to wear and facilitate a two way communication. You can wear the device for as much time as you want while communicating. Other features are:-

 

·         Helps in facilitating communication in environments beyond 85 dB (A)

·         Secures against every form of noise, such as Impact, Intermittent, Continuous

·         You are able to safely hear your surroundings and also hearing speech

·         Has Binaural Capability, allowing you to hear the direction of Speech and other sounds

·         Speaker limited to 82 dB (A) in ear

·         Face to Face communication

·         Two-Way Radio Interface

·         Wireless Bluetooth connection to cellular phones

·         Helps to communicate in short range distances Ear Muff to Ear Muff, up to 50 meters

·         MP3 Interface

·         High Visibility Color

·         Durable adjustable headband

·         Extra soft ear cushions for longwearing comfort

·         Easy to use buttons for tactile adjustment without having to look or remove earmuffs

·         12+ hours continuous talk time

·         Industrial ruggedized

·         12mth Warranty

 

Occupational noise induced hearing loss is a common hearing damage that has become very common today. The best way to combat it is by using hearing protection devices that come with adjustable buttons and other customizable features for easy user operation.

 

Innovations alter the Aviation Industry

Innovation is the “life-force” of any and every forward thinking enterprise in today’s competitive market place. The objective is to enhance brand recall value, develop a deeper audience connect and remain competitive by continuously innovating and ideating to drive growth. Great ideas and revolutionary thinking can be sourced from anywhere, but for an enterprise, these ideas are a source of strategic innovations and incremental enhancements.


They say that sky is the limit for success and innovation. However, when it comes to the Aviation industry, with creative ideas they can move even further, reaching new heights of success. This is exactly what leading airline brands have been doing. They have made use of innovative idea capture techniques to reach into the customer’s mind and garnering ‘out of the box’ thinking.


“Open innovation is a catalyst for radical thinking.” Lufthansa Cargo did something similar in the recent past. Its main objective was to make the most of the “crowd wisdom” for minimizing its environmental impact and enhance its services. Lufthansa’s “Air Cargo Innovation Challenge” welcomed participants from round the world, especially academicians, air freight consumers and logistics experts to contribute their ideas and perceptive insights on any feature of Lufthansa Air Cargo Supply Chain. There was a huge response and the brand was successful in selecting the best idea and establishing a personal connection with its audience.


Crowdsourcing is one of the most popular choices used by aviation brands for getting new innovative ideas. This acts as a mode of effective PR and branding   exercise   and   allows enterprises to target a huge audience in a less time, requesting for their participation.


This is exactly what aviation major Emirates did in 2010, by launching its first edition of ‘Our Future Artists’ competition. This event encouraged artists from round the globe to come up with artwork ideas and submit them for 2013 membership cards for a frequent flyer program named “Skywards”. Emirates received an overwhelming response to this innovative crowdsourcing competition with over 3,500 entries and approximately 50,000 votes.   Every participant was encouraged to make use various art styles such as sculptures, painting as well as photography. By engaging with the widest possible audience, Skywards wants to introduce these artists worldwide and showcase their original work and in return will get the best artwork for their Skyward membership cards.


They have little time for companies and brands that don’t deliver genuine innovation and in fact will participate heavily in creating buzz around an innovation they love, which in turn makes it seem more innovative. So there is an innovation virtuous circle, which some companies and brands are exploiting to their advantage, while others, often through no fault of their own, seem to be on a downward spiral in consumers’ minds.


In this changing world, the core essence of idea management has transformed. It is no more restricted within the four walls of a board room discussion including few or selected officials. The “brainstorming” process has expanded and has become more widespread. Consumers value innovation highly and, indeed, care deeply about it. They respect companies and brands that they see as pioneering and striving to improve their world. The spectrum includes one and all thereby promoting a culture of knowledge sharing that conveys a brand’s message to the audience in the most appropriate manner.


Know more on:   idea management software   ,   innovation products

Counterfeit Electrical Products Selling Under Manufacturer Brand

Counterfeiting has become a serious concern for electrical industry and has a negative impact on the manufacturers and consumers of genuine products. When a counterfeit operation in a particular location ceases to exist, multiple units crop up in different locations, thus constantly affecting the original product manufacturers’ reputations.

 

In fact detecting the fake items is a challenge even for the genuine manufacturers, and that is the reason why these counterfeit products are available easily in bulk. The   use of counterfeit electrical products can cause grave safety hazards that can lead to loss of lives. According to Bernd Heinze, president and CEO of the Philadelphia-based Sequent Insurance Group, “The size of the counterfeit electrical market is difficult to determine because we don’t know that a product is counterfeit unless it has been previously tested, inspected or failed to perform its intended function.”

 

“Most estimates, although conservative, project the amount of global counterfeiting of electrical products between $11 billion and $20 billion annually and between $300 million and $400 million in North America alone.”

 

One of the biggest challenges faced by electrical industry is the physical danger to consumer apart from the economic impact on the manufacturer. The counterfeit product manufacturers play with the lives of millions as they produce inferior circuit breakers, conduit fittings, electrical receptacles, power cords and extension cords. They violate the safety standards by replacing the expensive and durable copper wires with the thinner and cheaper versions to sell the products at cheap prices in the market. Due to the cheap prices, the products are sold in bulk endangering innumerable lives. Counterfeiting and piracy of intellectual property is growing rapidly and when infringed upon, it becomes difficult for companies to innovate and create breakthrough solutions that bolster the economy.

 

Therefore having an IP Protection solution that extends beyond the legal department has now become an indispensable part of manufacturing management. With internet providing wide-reaching consumers, it creates opportunities for counterfeiters to conduct sales online. They create online merchant sites that can be removed or relocated quickly. With increasing number of such e-commerce sites, it becomes difficult for enforcement agencies to track the culprits.

 

It has become important to deploy anti-counterfeiting solution that delivers convincing brand protection results, and provides you with compelling brand reputation strategies. . Since counterfeit listings often go on and off the Web within 48 hours, only real-time solutions can find all the violators.    These real-time online fraud detection solutions   deploy automated processes for consistent monitoring of the online   sites   to detect the main source that indulge in counterfeit operations.

 

Thus, a complete end-to-end brand protection solution that includes investigation and enforcement services can identify and stop online counterfeiters and gray market offenders.

 

Know more on : Sales Intelligence & Online Deduction Solution