Unemployed Discussion Discussion Board Reply
Post a substantive reply to the thread of at least two classmates. A substantive reply includes at least 100 words analyzing the initial thread as well as adding to the research and concepts put forth in that thread. The goal is to create meaningful discussion. To simply restate the idea already put forth or to concur with the first reply is not adding substantial discussion.
Must be separate
1st classmate)
Logistics- The part of the supply chain that plans, implements, and controls the effective flows and inventory or raw material, component parts, and products used in manufacturing.
-Summary:
In this article the author talks about a five-year economic plan to cover the 2017-21 period. The article also states that there will be a significant increase in investment in logistics, supply and repair services for international shipping; the creation of an air traffic hub; the development of a financial services hub; as well as a digital and technological innovation hub; and a more diversified tourism offering. All of these investments will be to help the economic growth for PEDS. The increase in logistics will not only help the economic growth but it will also make more jobs available for those who are unemployed.
-Discussion:
“Growth is the precondition, in the government’s view, for reducing unemployment, raising the standard of living and reducing inequality” Increasing logistics will also improve chances of employment. I believe that financing can become an issue if the budget is not being monitored so that it will not later become a financial burden. In the article they believe that with the increases of economic investments other sectors will struggle to secure finance. I strongly believe that if all options are explored and planned correctly it leaves little room for error. We all know that logistics play a vital role in any business because it controls inventory, which is used for manufacturing and the production to make sure businesses are able to operate smoothly.
2nd classmate
Draft–
A draft, sometimes referred to as a bill of exchange, is the instrument normally used in international commerce to effect payment. A draft is simply an order written by an exporter instructing an importer, or an importer’s agent, to pay a specified amount of money at a specified time.
Summary
As stated in the definition, a draft, also known as a bill of exchange, is a bill sent to a consumer for the cost of goods. Like a check, you are able to sign drafts over to other people/businesses. I have added a website to show was drafts look like (https://th.usembassy.gov/wp-content/uploads/sites/90/bank-draft-example.pdf). A draft would be like an invoice, a breakdown of the goods bought and how much is owed. They are very similar, in looks, to a check. A draft is not used as much in today’s time, due to the different type of payment forms offered today. In addition, a draft is commonly used in the U.S. while a bill of exchange is primarily used outside the U.S. (Agarwal, 2017) A draft is not always due immediately. They have what is called a time draft, giving the importee time to resell the products if needed.
Discussion
In relation to chapter 10, the article explains the uses of a draft and process of using a bill of exchange. Unlike domestic relationships, international traders normally use a draft to handle their transactions. Domestic relationships use an open account. Due to lack of trust in foreign/international relationships, open accounts are not used.
References
Agarwal, P., (Dec 7 2017) Introduction to the Bill of Exchange. https://www.intelligenteconomist.com/bill-of-exchange/
Bragg, S. (Mar 13 2018). Accounting Tools: Accounting CPE Courses & Books. https://www.accountingtools.com/articles/what-is-a-bill-of-exchange.html