During the four weeks in this class, there was a lot to learn, a lot of things that inspired and opened a lot of opportunities. The knowledge-base when joining the class was narrow regarding most of the topics that were learned. It is thought that a business could be run in a very simple way, but if one wants to maximize on profits, it is very important that they utilize some of the concepts that have been learned through the course. In week one, it there was the learning about supply chain, where a need must be identified for there to be a supply of a given good or service. There was a lot to learn about the topic since there are a lot of components that have been factored in the topic. A lot of people are involved in the supply chain system. As the downstream and upstream of the components of the supply are transformed by the market demand and resource availability the systems are bound to develop and become competent within a global market.
There was a lot to be learned during the balancing the financial decision making process within a supply chain arena. It is important that the business focuses on the financial aspect of the business which is balancing the transactions that are done between trading partners that is, buying and payment of goods and services. The department represents the actual lifeblood of the business ( Benavides, Eskinazis & Swan, 2012) . Learning that for a business to stay open, the financial transactions must be balanced. When a business does poorly in the financial decisions and budgeting, then it is bound to fall. There are key factors of innovations that require improvements and the money needs to be factored in. The money required to buy goods and pay for other services cannot be used to renovate supply chain process it is important that there is a plan first.
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Business logistics are the concepts used to refer to the activities that are involved in the movement and storage of goods and data. It involves the whole process from when a material is in raw material to the final step of recycling and disposal. Partnerships are essential for a business that can enhance business competitiveness through speed and flexibility. Costs are a huge factor when it comes to both the supplier and the consumer when creating an integrated value chain through the use of information technology and systems ( Gunasegaram, Lai & Cheng, 2008) . The Agile manufacturing and Supply Chain Management assist business in improving their performance. The joint initiatives by businesses that are way beyond the usual course aim at improving the long-term agenda. The supply chain collaboration has assisted businesses in many ways and has enhanced value for the participants; however, if the collaborations are not working well and smoothly, they are much bound to fail.
Business logistics today in the economic and international state influences the management in assessing logistics. Establishment of a supply chain and managing it requires a joint effort of optimizing the conditions in a wide variety of supply chain network which will yield superior returns. However, the people in charge should be focused on achieving the high standards of competence on the ten traits that are distinctive to being the best in the supply chain. It involves the broad view of the businesses downstream and upstream partners and connections ( Flint, & Larsson, 2006) . The right strategies should be the initial step for effectively managing a supply chain whether it is for logistics or manufacturing. Metrics are another factor that should be considered and can direct if the business is on the correct path. The business will measure whether their supply chain is on the correct path or it is not working since they have essential key indicators for the job.
Lean supply management is good and is more than just warehouses and transport; they contain the whole supply chain package. It is focused on both the domestic and international package thus ensuring that the business is competitive throughout the world. Technology is very important to the supply chain since it is referred to as the processing enabler. There are a lot of things that a business requires and need to be enabled through the use of technology. Technology is an essential department in the business logistics world globally and nationally ( Gunasegaram, Lai & Cheng, 2008) . Supply performance is the gauge of the whole supply chain process (Jackson). The success of a supply chain process is dependent on the supplier performance; therefore, if the supplier is doing poorly, it will have a negative effect on the revenue and also profitability.
In conclusion, learning that for a business to perform well and get good profits they must first have the right people in place with all good intentions for the company. Partnering for business can be met, but maintaining the collaborations is the most important part of the process. Partners that have the capability have strategic goals and value. The business should make sure that they are investing in the right infrastructure and people. Learning and capturing a lot that can be put to practice in the future when one has their own business or get employed in someone's business.
References
Benavides, L., Eskinazis, V. D., & Swan, D. (2012). Six steps to successful supply chain collaboration. SCMP’s Supply Chain Quarterly Q , 2 , 23.
Flint, D. J., & Larsson, E. (2006). Supply chain innovation. Handbook of Global Supply Chain Management , 475 .
Gunasekaran, A., Lai, K. H., & Cheng, T. E. (2008). Responsive supply chain: a competitive strategy in a networked economy. Omega , 36 (4), 549-564.
Jackson, G. (n.d.). Bre-Cap. Retrieved November 20, 2018, from http://www.referenceforbusiness.com/encyclopedia/Bre-Cap/index.html
