business economics week 1 w/c 11 th february 2013 introduction course 17832 advanced diploma...
TRANSCRIPT
Business Economics
WEEK 1W/C 11th February 2013
INTRODUCTION
Course 17832 Advanced Diploma Management
HOUSEKEEPING
• Toilets
• Exits / Evac
• Air / Heat
• Breaks
• Roll sheet
• Notes– EMAIL
• Issues?
• Readings
• Logins– WIFI
InternationalPassword: danish123
– InternetUser: cseight.swsldPwd: learning105
• Safety in Sydney– TIPS– BE PARANOID
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Orientation
• Guidelines– RIGHTS
• Safety• Harassment
– ASSESSMENTS• SAGs• Late submittal• Extensions• Sick• Resit/resubmit policy• Report format / Image &
presentation• Academic writing
– Attendance
– Plagiarism
• Student Association
• Library
• Text books / book shop
• RPL
• Breaks
EXPECTATIONS
• RESPECT– Courtesy
• Respect the opinions of others
• Speaking in turn– DO NOT SPEAK WHEN
OTHERS ARE SPEAKING
• Attendance
• ON TIME
• PARTICIPATION– Contribute– Ask Q’s– Comment
• No Mobile phones
• No Food
OUTCOMES
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By the end of this session you will:
• Understand what is expected of you in this subject
• Be introduced to the course content
Week Chapter TopicsOne (1) Ch 16 – Purchase
controlIntroduction- Course overview- Objectives- AssessmentThe time value of moneyPurchasing - Intent
Two (2) Ch 16 – Purchase control
Supply strategies (make or buy?)OutsourcingPurchasing strategies
Three (3) Ch 16 – Purchase control
Supplier analysisPurchasing processesPurchase simulation exercise
Four (4) Ch 17 – Stock management
What does a company want to achieve?Stock mgmt – IntentStock adv vs disadv.Stock ordering methods
Five (5) Ch 17 – Stock management
OPV methodsOPV calculations Conundrum – People/Profit/Planet
Six (6) Ch 17 – Stock management
Case study tasksTrivia – Pop Quiz Course review
Assessment
• Approved by your teachers in Denmark.• Written research report.• Class presentation – dependant on time
otherwise in class participation will be recorded and reported as part of your assessment.
• Refer to the assessment outline handout.
Assessment
• Business Case – Research and Analysis
• In a group of three (3) or four (4) students you are to research an Australian company. Before you begin you are to inform the teacher of the company you have selected and verbally explain why you have chosen the company to obtain approval prior to the commencement.
Assessment• For the company you are to complete the following:
– A brief back ground on the company.
– The method you would use for the procurement of goods i.e. make or buy.
– The purchase strategy you would implement i.e. cooperation or differentiated or a hybrid.
– The risks associated with the points # 2 and 3.
– Contingencies to mitigate the identified risks.
– Recommended stock management method.
– An analysis of which one the company focuses on Profit/People/Planet.
• The research must be thorough and contain a good analysis to support developed answers. In other words you need to argue or present your case and support it with evidence.
• Anticipated written report length 4-6 A4 pages (est. 500 words per page).
The time value of money concept
• How much is $1.00 worth in 12 months time if you leave it in your drawer at home?
Purchasing control
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Purchasing functions:1. Provides an external link with the supply
market.2. Controlling purchasing in cooperation with
production and sales.3. Ensure an efficient purchasing control.
Purchasing control
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The primary objectives of purchasing are:1. Ensure uninterrupted flows of raw materials
at the lowest total cost, 2. Improve quality of the finished goods
produced, and 3. Optimize customer satisfaction.
Purchasing Control
Purchasing contributes to these objectives by: – Actively seeking better materials and reliable
suppliers, – Work closely with strategic suppliers to improve
quality materials, and – Involving suppliers and purchasing personnel in
new product design and development efforts.
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Understanding purchasing• Purchasing-
Obtaining merchandise, capital equipment; raw materials, services, or maintenance, repair, and operating supplies in exchange for money or its equivalent.
• Merchant Buyers-wholesalers and retailers who purchase for resale.
• Industrial Buyers- purchase raw materials for conversion, services, capital equipment, & MRO supplies.
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Purchasing control
• Purchase goods and services:– From the right suppliers– In the right quantities– In the right qualities– At the right prices– Delivered at the right place and time
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