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Unit Synopsis
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
| Level | Undergraduate |
|---|---|
| Unit Level | 2 |
| Credit Points | 6 |
| Student Contribution Band | SCA Band 4 |
| Fraction of Full-Time Student Load | 0.125 |
| Pre-requisites or Co-requisites |
There are no pre-requisites for the 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). |
| Class Timetable | View Unit Timetable |
| Residential School | No Residential School |
Unit Availabilities from Term 1 - 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.
Assessment Tasks
| Assessment Task | Weighting |
|---|---|
| 1. Written Assessment | 20% |
| 2. Written Assessment | 40% |
| 3. Written Assessment | 40% |
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%).
Past Exams
All University policies are available on the Policy web site, however you may wish to directly view the following policies below.
This list is not an exhaustive list of all University policies. The full list of policies are available on the Policy web site.
Term 1 - 2020 : The overall satisfaction for students in the last offering of this course was 5.00 (on a 5 point Likert scale), based on a 40% response rate.
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.
Source: 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.
This unit is being discontinued. Therefore, the Fresh Connection might be reframed for future consideration if the unit is brought out of hibernation.
Source: Have your say
"I found the case studies for assessments easy to understand however could benefit from setting out report requirements and questions in the same location on Moodle."
It is recommended that additional assessment case examples are prepared in the future. The location of assessment requirements and questions should be simplified.
In Progress
On successful completion of this unit, you will be able to:
- 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.
| Assessment Tasks | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Written Assessment | • | • | • | ||
| 2 - Written Assessment | • | • | • | ||
| 3 - Written Assessment | • | • | • | ||
| 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 | • | ||||
| Assessment Tasks | Graduate Attributes | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 10 | |
| 2 - Written Assessment | • | • | • | • | • | ||||||
| 3 - Written Assessment | • | • | • | • | • | ||||||
| 1 - Written Assessment | • | • | |||||||||