Overview
This unit is an introduction to inventory management. There may be many inventory managers named as such but there is not a lot of sophisticated professional inventory management. Even where organisations use sophisticated computer systems for inventory management this is no guarantee that inventory management is effective, as with limited skills and knowledge the managers are forced to take a black box approach. This unit is designed to increase awareness of good inventory management practices including the use of packaged computer systems, however it does not deal with mathematical models except at the basic level. This unit is about getting to know more about inventories i.e. what they are, why they are held, how they behave, and of course how they are managed. The complexity of inventory management should not be underestimated. There are many different inventory situations and each inventory situation requires its own system of management. Also resolving issues in particular inventory situations can become quite difficult, because of the conflicting expectations of the providers and the users of those inventories.
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 2 - 2019
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 Have your say
"I’ve enjoyed the material and support provided by the lecturer in assisting with weekly lectures at a time that students that work full time hours during the day could reach, the PowerPoint presentations were very helpful and concise."
Maintain effort and continue updating teaching materials and resources.
Feedback from Have your say
"Assessment Tasks one and two were very clear and i learned a lot from these tasks"
Maintain student support through forums and recorded materials and with emphasis on student success.
Feedback from Have your say
"Exam revision was unclear what was needed to focus on, guidance give was to revise the whole text book with no clear idea on what principles or concepts need to be revised in particular. This is a lot of information to remember in detail in a closed book examination."
Review and update the exam revision presentation slides and guideline for each topics by including all key concepts and principles of this unit.
- Discuss and define all aspects of the importance of inventory in organisations.
- Compare and contrast the key components of inventory management.
- Identify and critically discuss the strategic aspects of the principles and philosophy of inventory management.
- Explain how to manage inventories in a manufacturing situation where demand is dependant.
- Discuss the various forecasting models which are used to predict demand in order to managed inventories.
- Determine the order quantities, safety stock and service levels required to meet market situations.
- Select and implement a basic inventory management program.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||||
|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | |
| 1 - Written Assessment - 20% | |||||||
| 2 - Written Assessment - 30% | |||||||
| 3 - Examination - 50% | |||||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||||
|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | |
| 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 - 30% | ||||||||||
| 3 - Examination - 50% | ||||||||||
Textbooks
Introduction to Materials Management
8th Edition Global (2017)
Authors: Steve Chapman and Tony K. Arnold
Pearson Education
Upper Saddle River Upper Saddle River , New Jersey , United States of America
ISBN: 9781292162355
Binding: Paperback
Additional Textbook Information
Paper copies can be purchased from the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code)
eBooks can be purchased from the publisher here: https://pearson.com.au/9781292162379
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- CQUniversity Library Resources
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
Chapter 1 and 14
Events and Submissions/Topic
Module/Topic
Production Planning System and Master Scheduling
Chapter
Chapter 2 and 3
Events and Submissions/Topic
Module/Topic
Materials Requirement Planning
Chapter
Chapter 4
Events and Submissions/Topic
Module/Topic
Capacity Management and Production Activity Control
Chapter
Chapter 5 and 6
Events and Submissions/Topic
Module/Topic
Purchasing and Forecasting
Chapter
Chapter 7 and 8
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Inventory Fundamentals
Chapter
Chapter 9
Events and Submissions/Topic
Module/Topic
Order Quantities with Independent Demand
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
Module/Topic
Physical Distribution
Chapter
Chapter 13
Events and Submissions/Topic
Module/Topic
Lean Production
Chapter
Chapter 15
Events and Submissions/Topic
Module/Topic
Review of Inventory Management
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Written Assessment
The assessment is designed for students to apply inventory management concepts, methods and tools. The assessment involves writing a 1500-word business report responding to assessment questions related to specific topics and/or case material. Submit your 1500-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 in the unit Assignment 1 Forum before you complete and submit the assessment.
Week 6 Tuesday (27 Aug 2019) 3:00 pm AEST
Week 8 Tuesday (10 Sept 2019)
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 8 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%
Report length 1500-words.
Submissions must be in Business Report format using Word with 1.5 line spacing and Times Roman 12 point font.
Late submissions will also be penalised at the rate of "five per cent of the total marks available for the assessment each calendar day (full or part) it is overdue" (Policy: Assessment of Coursework section 3.2.4)
- Discuss and define all aspects of the importance of inventory in organisations.
- Compare and contrast the key components of inventory management.
- Identify and critically discuss the strategic aspects of the principles and philosophy of inventory management.
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Information Technology Competence
2 Written Assessment
The assessment is designed for students to apply inventory management concepts, methods and tools. The assessment involves writing a 2000-word business report responding to assessment questions related to specific topics and/or case material. Submit your 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 in the unit Assignment 2 Forum before you complete and submit the assessment.
Week 10 Tuesday (24 Sept 2019) 3:00 pm AEST
Week 12 Tuesday (8 Oct 2019)
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 profession 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%
Report length 2000-words.
Submissions must be in Business Report format using Word with 1.5 line spacing and Times Roman 12 point font.
Late submissions will also be penalised at the rate of "five per cent of the total marks available for the assessment each calendar day (full or part) it is overdue" (Policy: Assessment of Coursework section 3.2.4)
- Discuss and define all aspects of the importance of inventory in organisations.
- Compare and contrast the key components of inventory management.
- Identify and critically discuss the strategic aspects of the principles and philosophy of inventory management.
- Explain how to manage inventories in a manufacturing situation where demand is dependant.
- Discuss the various forecasting models which are used to predict demand in order to managed inventories.
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Information Technology Competence
Examination
Calculator - non-programmable, no text retrieval, silent only
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?
