Overview
An initial understanding and later, mastery of inventory management, incorporating inventory policy, planning and control is fundamental to success of the supply network for an organisation. Inventory control is addressed in year 1 of the course. This unit addresses inventory planning and optimisation and is presented in year 2 of the course. To understand the value of inventory planning for a business, students will critically evaluate and develop an understanding concerning the value and liability of inventory to a business. Based on the concepts of complexity in the supply network of a business, students critically examine inventory planning at the organisation level, taking account of various strategies and objectives of a business. The unit develops analytical prescriptive skills for considering options when planning the optimum amount and location of inventory to support an organisation’s strategic objectives. The unit then takes a departure from the theoretical underpinnings and asks the students to put what they have learned into action by taking part in a number of rounds of the Supply Chain simulation game called ‘The Fresh Connection’ (https://www.thefreshconnection.biz/education/)
Details
Pre-requisites or Co-requisites
There are no requisites for this unit.
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2020
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Lecturer
Unit Profile Content (Overview)
The introduction of "The Fresh Connection" Game would support the Learning Outcomes of this Unit. If licencing of the game is not possible, then the Unit profile wording should be reviewed.
- Assess and discuss the role of inventory within an organisation.
- Compare and contrast the various options concerned with planning and storing inventory.
- Critically analyse the inventory planning and optimisation processes available; together with where and how they may be utilised.
- Evaluate the potential benefits and costs from implementing and using different approaches to inventory planning.
- Consider the planning challenges and the role of inventory planners in addressing these challenges.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Written Assessment - 20% | |||||
| 2 - Written Assessment - 40% | |||||
| 3 - Written Assessment - 40% | |||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Communication | |||||
| 2 - Problem Solving | |||||
| 3 - Critical Thinking | |||||
| 4 - Information Literacy | |||||
| 5 - Team Work | |||||
| 6 - Information Technology Competence | |||||
| 7 - Cross Cultural Competence | |||||
| 8 - Ethical practice | |||||
| 9 - Social Innovation | |||||
| 10 - Aboriginal and Torres Strait Islander Cultures | |||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Written Assessment - 20% | ||||||||||
| 2 - Written Assessment - 40% | ||||||||||
| 3 - Written Assessment - 40% | ||||||||||
Textbooks
Introduction to Materials Management
8th Edition Global (2017)
Authors: Stephen N. Chapman, J.R. Tony Arnold, Ann K. Gatewood and Lloyd M. Clive
Pearson Education
Upper Saddle River Upper Saddle River , New Jersey , United States of America
ISBN: 9781292162379 (VitalSource eText) (8e)
Binding: Paperback
Additional Textbook Information
Copies are available for purchase at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code)
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)
For further information, see the Assessment Tasks.
s.kuik@cqu.edu.au
Module/Topic
Introduction to Inventory Management, Product and Processes
Chapter
Chapters 1 and 14
Events and Submissions/Topic
Module/Topic
Production Planning System and Master Scheduling
Chapter
Chapters 2 and 3
Events and Submissions/Topic
Module/Topic
Materials Requirement Planning
Chapter
Chapter 4
Events and Submissions/Topic
Issue assignment 1 briefing note.
Module/Topic
Capacity Management and Production Activity Control
Chapter
Chapters 5 and 6
Events and Submissions/Topic
Module/Topic
Purchasing and Forecasting
Chapter
Chapters 7 and 8
Events and Submissions/Topic
A1 due.
Assessment Item 1 - Business Report - Meridian Water Pumps Due: Week 5 Thursday (9 Apr 2020) 12:00 am AEST
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Inventory Fundamentals
Chapter
Chapter 9
Events and Submissions/Topic
Issue assignment 2 briefing note.
Feedback on Assessment 1
Module/Topic
Order Quantities
Chapter
Chapter 10
Events and Submissions/Topic
Module/Topic
Independent Demand Ordering Systems
Chapter
Chapter 11
Events and Submissions/Topic
Module/Topic
Physical Inventory and Warehouse Management
Chapter
Chapter 12
Events and Submissions/Topic
A2 due.
Assessment Item 2 - Business Report - Randy Smith Inventory Control Due: Week 9 Thursday (14 May 2020) 12:00 am AEST
Module/Topic
Physical Distribution
Chapter
Chapter 13
Events and Submissions/Topic
Issue assignment 3 briefing note.
Feedback on Assessment Item 2
Module/Topic
Lean Production
Chapter
Chapter 15
Events and Submissions/Topic
Module/Topic
Review of Inventory Management
Chapter
Events and Submissions/Topic
A3 due.
Assessment Item 3 - Business Report - CostMart Warehouse Due: Week 12 Thursday (4 June 2020) 12:00 am AEST
1 Written Assessment
The assessment is designed for students to apply inventory management concepts, methods and tools. The assessment involves writing a 1000-word business report responding to assessment questions related to specific topics and/or case material. Submit your 1000-word report through Turnitin in Moodle, with a cover sheet showing the unit name and number, assessment number, your name and student number. Assessment details and guidance will be provided on the unit website.
You can discuss your assessment ideas before you complete and submit the assessment.
Week 5 Thursday (9 Apr 2020) 12:00 am AEST
To be uploaded via the Assessment Item 1 Submission link on the Unit Moodle site. Can be submitted as a word or pdf file.
Week 6 Thursday (23 Apr 2020)
Feedback and grades will be available in Feedback Studio on the Unit Moodle site.
Your report analysis, recommendations and presentation will be assessed according to the following criteria:
Thorough understanding of relevant inventory management concepts, principles, theories, tools and models and the questions posed: 60%
Appropriate and well structured, concise and clear expression of inventory management arguments: 10%
Clear flow of thought throughout the paper with a clear and succinct purpose described in the introduction and a clear and succinct conclusion: 10%
Critical analysis and integration of relevant academic and professional literature. A minimum of 10 academic journal articles must be used: 10%
Appropriate in-text referencing and reference list. Adherence to APA formatting: 5%
Clarity of expression, grammar, spelling and business report format (see below): 5%
- Assess and discuss the role of inventory within an organisation.
- Compare and contrast the various options concerned with planning and storing inventory.
- Consider the planning challenges and the role of inventory planners in addressing these challenges.
- Critical Thinking
- Cross Cultural Competence
2 Written Assessment
The assessment is designed for students to apply inventory management concepts, methods and tools. The assessment involves writing a 1500 - 2000 word business report responding to assessment questions related to specific topics and/or case material. Submit your 1500- 2000 word report through Turnitin in Moodle, with a cover sheet showing the unit name and number, assessment number, your name and student number. Assessment details and guidance will be provided on the unit website.
You can discuss your assessment ideas before you complete and submit the assessment.
Week 9 Thursday (14 May 2020) 12:00 am AEST
To be uploaded via the Assessment Item 2 Submission link on the Unit Moodle site. Can be submitted as a word or pdf file.
Week 10 Thursday (21 May 2020)
Feedback and grades will be available in Feedback Studio on the Unit Moodle site.
Your report analysis, recommendations and presentation will be assessed according to the following criteria:
Thorough understanding of relevant inventory management concepts, principles, theories, tools and models and the questions posed: 60%
Appropriate and well structured, concise and clear expression of inventory management arguments: 10%
Clear flow of thought throughout the paper with a clear and succinct purpose described in the introduction and a clear and succinct conclusion: 10%
Critical analysis and integration of relevant academic and professional literature. A minimum of 10 academic journal articles must be used: 10%
Appropriate in-text referencing and reference list. Adherence to APA formatting: 5%
Clarity of expression, grammar, spelling and business report format (see below): 5%
- Compare and contrast the various options concerned with planning and storing inventory.
- Evaluate the potential benefits and costs from implementing and using different approaches to inventory planning.
- Consider the planning challenges and the role of inventory planners in addressing these challenges.
- Communication
- Critical Thinking
- Information Literacy
- Information Technology Competence
- Cross Cultural Competence
3 Written Assessment
The assessment is designed for students to apply inventory management concepts, methods and tools. The assessment involves writing a 1500 - 2000 word business report responding to assessment questions related to specific topics and/or case material. Submit your 1500- 2000 word report through Turnitin in Moodle, with a cover sheet showing the unit name and number, assessment number, your name and student number. Assessment details and guidance will be provided on the unit website.
You can discuss your assessment ideas before you complete and submit the assessment.
Week 12 Thursday (4 June 2020) 12:00 am AEST
To be uploaded via the Assessment Item 3 Submission link on the Unit Moodle site. Can be submitted as a word or pdf file.
Exam Week Thursday (18 June 2020)
Results and feedback will be made available on the unit website after Grade Certification.
Your report analysis, recommendations and presentation will be assessed according to the following criteria:
Thorough understanding of relevant inventory management concepts, principles, theories, tools and models and the questions posed: 60%
Appropriate and well structured, concise and clear expression of inventory management arguments: 10%
Clear flow of thought throughout the paper with a clear and succinct purpose described in the introduction and a clear and succinct conclusion: 10%
Critical analysis and integration of relevant academic and professional literature. A minimum of 10 academic journal articles must be used: 10%
Appropriate in-text referencing and reference list. Adherence to APA formatting: 5%
Clarity of expression, grammar, spelling and business report format (see below): 5%
No submission method provided.
- Critically analyse the inventory planning and optimisation processes available; together with where and how they may be utilised.
- Evaluate the potential benefits and costs from implementing and using different approaches to inventory planning.
- Consider the planning challenges and the role of inventory planners in addressing these challenges.
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Team Work
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
