FACULTY OF BUSINESS

Department of Business Administration

BA 437 | Course Introduction and Application Information

Course Name
Inventory Management for Retail
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
BA 437
Fall/Spring
3
0
3
5

Prerequisites
None
Course Language
English
Course Type
Elective
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator -
Course Lecturer(s) -
Assistant(s) -
Course Objectives To comprehend inventory management issues from retail business management perspective.
Learning Outcomes The students who succeeded in this course;
  • The students who finish the couse successfully will be able to know the concepts of inventory management.
  • The students who finish the couse successfully will be able to know the importance and problems of the inventory control in retail industry.
  • The students who finish the couse successfully will be able to know the demand forecasts and demand techniques.
  • The students who finish the couse successfully will be able to know the inventory classifying, recording systems and accurate recording, cycle counting, service related inventory control, basic economic order quantity models, inventory costs, reorder policies, quantity discounts, probabilistic models and safety stocks, fixed order quantity model.
Course Description A key challenge for any retailer is inventory management: too much inventory means unnecessary cost; too little increases the risk of losing sales. Finding the optimal inventory levels, minimizing the cost of inventories, recordkeeping, physical inspections and cycle counting, preparing sales reports, rotating inventories, retail shelf management are the basic activities of inventory management in a retail business company that makes the content of the course.

 



Course Category

Core Courses
Major Area Courses
X
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction to Inventory Control Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
2 Forecasting Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
3 Inventory Classification Methods Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
4 Bayram
5 Quantity Decisions - Static Lot Sizing Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
6 Quantity Decisions - Static Lot Sizing Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
7 Quantity Decisions - Dynamic Lot Sizing Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
8 Quantity Decisions - Dynamic Lot Sizing Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
9 Midterm 1
10 Timing Decisions - One Time, Continuous Rev. Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
11 Timing Decisions - Continuous Review Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
12 Timing Decisions - Periodic Review Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
13 Midterm 2
14 Cycle Counting Methods, Management of Style Goods and Perishable Items Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997Handouts
15 Retail Shelf Management Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
16 Review of the Semester  

 

Course Notes/Textbooks Production: Planning, Control and Integration, Sipper, Buffin, McGrawHill, 1997
Suggested Readings/Materials Production and Operations Analysis, Steven Nahmias, Sixth Edition, McGrawHill, New York, 2009.

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
1
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
1
30
Project
Seminar / Workshop
Oral Exams
Midterm
1
30
Final Exam
1
30
Total

Weighting of Semester Activities on the Final Grade
3
70
Weighting of End-of-Semester Activities on the Final Grade
1
30
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
16
3
48
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
0
Presentation / Jury
1
9
9
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
17
17
Final Exam
1
18
18
    Total
140

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to solve problems with an analytical and holistic viewpoint in the field of business administration.

X
2

To be able to present the findings and solutions to the business problems in written and oral formats.

X
3

To be able to interpret the application of business and economic concepts, and philosophies at the national and international levels.

4

To be able to use innovative and creative approach for real-life business situations.

X
5

To be able to demonstrate leadership skills in different business situations.

6

To be able to interpret the reflections of new technologies and softwares to business dynamics.   

7

To be able to integrate knowledge gained in the five areas of business administration (marketing, production, management, accounting, and finance) through a strategic perspective.

X
8

To be able to act in accordance with the scientific and ethical values in studies related to business administration.

9

To be able to work efficiently and effectively as a team member.

10

To be able to have an ethical perspective and social responsiveness when making and evaluating business decisions.

11

To be able to collect data in the area of business administration and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1).

12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout the human history to their field of expertise.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


NEWS |ALL NEWS

Izmir University of Economics
is an establishment of
izto logo
Izmir Chamber of Commerce Health and Education Foundation.
ieu logo

Sakarya Street No:156
35330 Balçova - İzmir / Turkey

kampus izmir

Follow Us

İEU © All rights reserved.