Authorised by Academic Registrar, April 1996
Objectives At the end of this subject, students will have developed skills sufficient to procure and manage an inventory designed to meet customer needs.
Synopsis To forecast demand using simple techniques given demand history of product; select the most appropriate inventory management approaches in a given situation; carry out a range of inventory calculations; determine costs from accounting data for making inventory decisions; design a stock counting system and value inventory; locate, select and assess the performance of vendors; perform value analysis; use decision trees in assessing risk; assess the performance of the inventory management and purchasing functions.
Assessment Syndicate case study presentation: 20% + Individual major assignment (4000 words): 40% + Class test: 40%