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Optimising Resources

Optimising Resources

Code: LOG3LF002
Extent: 6 ECTS (162 h)
Timing: Semester 5 - 7
Language: English
Level: Professional Specialization Studies
Type: Compulsory to those chosen LOGLF1 Global Supply Chain Management as their specialisation.

Prerequisites

The student has successfully completed the GloBBA Basic and Joint Professional Studies. The course is part of the module of Global Supply Chain Management.

Learning outcomes

Upon successful completion of the course, the student

  • knows how to use optimizing as a modeling tool for business cases
  • is able to recognize and evaluate market possibilities (market predictor)
  • is able to assess and adjust current business cases (market predictor)
  • is able to create presentations to visualize concepts (service designer)
  • is able to maximize profits and minimize costs (sales maker & service designer)
  • is capable to determine economic order quantities for an inventory in order to optimize inventory cycles (sales maker & service designer)
  • is able to set price to services and products (sales maker)
  • is able to use Excel in a professional way (digi-applier)
  • has enhanced his/her HH3S competences as applicable to the course.

Course contents

All exercises done to real-like business cases (supporting co-doer and orchestrator competencies)

  • Formulating decision making problems
  • Solving linear problems graphically
  • Computer solutions for linear problems
  • Applications of optimising
  • Transportation problems
  • Inventory models

Cooperation with business community

Guest speakers from companies, real business based cases and exercises.

International dimension

Learning the course contents based on global business approach.

Teaching and learning methods

Contact lessons
Exercises
Independent studies
The assessment of one’s own learning 1 h

Accreditation of prior learning

Accreditation of prior learning (APL) is observed on the course according to separate instructions.

Teacher with the main responsibility for the course

Jutta Heikkilä

Course materials

Anderson, D., Sweeney, D. & Williams, T. 2007. An Introduction to Management Science, Quantitative Approaches to Decision Making. 12th edition. West Publishing Company. Minneapolis.

Other material to be announced

Assessment criteria

Grade/Learning outcomes

1 (Min. 40%
competence level)
3 (Min. 70%
competence level)
5 (Min. 90%
competence level)
Knowledge The student can formulate basic decision making problems. She can solve simple linear problems both graphically and with computer. She is able to apply optimizing calculations for at least in one of the following areas: supply chain management, finance, transportation and inventory. The student can formulate decision making problems. She can solve linear problems both graphically and with computer. She has a good knowledge of optimizing calculations for at least in three of the following areas: supply chain management, finance, transportation and inventory. The student can formulate decision making problems. She can solve linear problems both graphically and with computer. She manages well all four application areas (supply chain management, finance, transportation and inventory). She understands their role in business applications.
Skills The student has the right attitude to work and she performs in routine applications. The student can partly independently choose the right methods for calculating and collecting the needed information. The student can work independently in initiative, critical and analytical way in order to solve related business problems in a broader context.
Competence The student can apply the skills and knowledge to basic business applications under supervision. The student shows poor service and sales orientation as required by the HH3S policy. The student can apply the skills and knowledge to some business applications partly independently. The student shows good service and sales orientation as required by the HH3S policy. The student can apply the skills and knowledge to related business applications independently. The student shows excellent service and sales orientation as required by the HH3S policy.

Modes of assessment and their weights

Exams 75%
Assignments 25%

NOTE! If agreed in the beginning of the course, some course implementations might include larger assignments. In that case the assessment weights are:
Exams 40%
Assignment(s) 40%
Home exercises 20%

The assessment of one's own learning does not influence the course grade. The assignment is the same for all courses/modules and the answers will also be used for course/module development. The assignment is completed on an E-form.