Intellectual Capital - Support for Improvement and Development of Business Logistics

Due to uncertainties and economic turbulence on the domestic and international markets there is a constant need to adapt to new business conditions. As a business branch, logistics has accepted and implemented new types of knowledge(intellectual capital) in the logistics process, thus allowing for new, more cost-effective procedures (more flexible and faster service of higher quality), which means achieving competitive advantages for the company involved in the logistics business. The success of a logistics business and the quality of their services depends increasingly on applying intellectual capital in operations. Intellectual capital represents a strategic source in planning and control of movement, in promoting and marketing of people and/or goods. It can also be a strong support for implementing new solutions in the logistics sector. Business logistics is now accepted as an independent business activity. In certain areas of business economics, logistics processes are implemented in everyday operations, helping to connect and organize the business process in terms of information and material flows from the source to the final user. The requirements for rational operations, including coordination and inter¬connection of all production factors (human resources, technological resources and information sources) can be comprised in a single process of business logistics. Logistics is a relatively young and very dynamic discipline based on knowledge and usage of new scientific methods. Being familiar with the features that refer to continuous analysis and implementation of intellectual capital in logistics companies and enterprises has a direct impact on successful organization of logistics processes and achieving competitive advantage on domestic and foreign markets. The model to be implemented will depend on the type of business logistics, as well as company characteristics and performance (number of employees, sales, productivity, and other economic and social circumstances). Business logistics models aimed at achieving positive business results require continuous updating and implementation of latest knowledge in business operations.