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.
Related Sustainable Development Goals

 



Course Category

 Core Courses
Major Area Courses
Supportive Courses
Media and Managment Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Required Materials
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 Exam
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
Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: 16 x total hours)
16
Study Hours Out of Class
16
3
48
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
Presentation / Jury
1
9
Project
Seminar / Workshop
Oral Exam
Midterms
1
17
Final Exams
1
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 acquire theoretical and practical knowledge and skills in the area.
2

To be able to approach problems with an analytical and holistic viewpoint.

 X
3

To be able to gain knowledge about both national and international accounting and auditing standards.
4

To be able to communicate the findings and solutions to the accounting and auditing problems in written and oral formats.

X
5

To be able to critically evaluate the performance of accounting and other related management information systems, and organizations.
6

To be able to develop innovative and creative approach to real-life business issues.

 X
7

To be able to integrate knowledge gained in the main areas of accounting and auditing through a strategic perspective.
8

To be able to act in accordance with the scientific and ethical values in studies related to accounting and auditing.
9

To be able to demonstrate both leadership and team-work skills through being an efficient and effective team member.
10

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