Alone with the WTO goes deep into China, the FTZ (Free Trade Zone) of China faces the new situation and challenge. Warehouse Service Product (WSP) is an invisible product and it has value and use value. Value Management (VM) can be applied in the WSP management to dig the potential value of it. As VM applied in the WSP, it should be separated into two parts: Value Engineering (VE) and Operations Management (OM). This paper qualitatively analyses the natures of the two parts in the Warehouse Service Management respectively. Especially deeply analyzes the functions and costs of the Warehouse Service Product (WSP).
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