目前，人工智能在物流领域还处于探索之中，但从已经取得的成果来看，“人工智能+物流”的确能够给物流企业在降本增效层面带来收益。物流企业应该以立足当下、着眼长远的原则，以辅助管理、提升效率为短期目标，寻找自身业务链条中能够被AI技术赋能的环节并通过试点论证，稳步推进；对未来有望打破物流现有业态的前沿应用做好技术储备。

本报告中的“人工智能+物流”指的是基于人工智能技术的软硬件产品及服务在物流活动各环节中的实际落地应用。2019年人工智能+物流的市场规模为15.9亿元，预计到2025年市场规模将接近百亿。在物流各环节的应用分布方面，仓储与运输占比较大，两者占比之和超过八成。

以五年库存均值为基准，原油去库周期约为12个月。全球原油存在或大或小的库存周期，一个典型的库存周期约3-4年。其中去库进程可拆分为去库深度和去库速度两部分，我们发现，历史上几次去库周期的深度相差不大。而典型的去库速度为，如果以五年库存均值为基准，去库周期约12个月。

当前居民消费习惯由线下转至线上，网购渗透率不断提升，快递需求端潜力持续释放，预计快递行业景气度进一步提升，预计6 月行业增速有望超45%。近期，通达系快递标的股价有所回调，建议逢低补仓。推荐电商系市占率领先的韵达股份（002120.SZ）、市占率稳健提升的圆通速递（600233.SH）、管理效率逐步改善的低估值标的申通快递（002468.SZ）；中长期看好迈向综合物流服务商的顺丰控股（002352.SZ）。

The packaging in the cosmetic industry has gone leaps and bounds in recent years. The cosmetic industry has the most varied packaging requirements of all the other sectors. The materials used vary from different metals from glass, paper, and Plastics, and these materials are used to make containers with different shapes and sizes and dispensing mechanism.  Plastic in the form of primary containers, secondary flexible pouches, caps and closure, and the nozzle is one of the major packaging materials used by the cosmetic industry. The plastic tube is one of the major containers in the cosmetic industry as it is able to store liquid-solid and semisolid materials and able dispense products in the controlled proportions. Also, the, when compared to other containers tubes, are able to provide better contamination protection.  In order to cater to the increasing demand for tubes, various suppliers have come up with innovative offerings in the market. Most recently, Sally Hansen, a major cosmetics manufacturer in the global market, developed a squeezable tube paired with an applicator tip with the help of Topline.