Scribd
Upload
64 views1 page

Lesson Plan - LU1

This document provides an overview of the learning units, themes, learning outcomes, and resources for Module Code MFAC7319, which covers planning and controlling inventory. The three themes that will be covered are: 1) Economic Order Quantity (EOQ), describing the motives for holding inventory and applying the EOQ model, 2) Safety Stock, calculating and discussing the purpose of safety stock levels, and 3) Just-in-Time purchasing, describing how JIT systems differ from traditional purchasing principles. The learning resources will include textbook chapters, concept videos, and activities from both the VC Learn platform and the Drury textbook.

Uploaded by

arronyeagar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
64 views1 page

Lesson Plan - LU1

This document provides an overview of the learning units, themes, learning outcomes, and resources for Module Code MFAC7319, which covers planning and controlling inventory. The three themes that will be covered are: 1) Economic Order Quantity (EOQ), describing the motives for holding inventory and applying the EOQ model, 2) Safety Stock, calculating and discussing the purpose of safety stock levels, and 3) Just-in-Time purchasing, describing how JIT systems differ from traditional purchasing principles. The learning resources will include textbook chapters, concept videos, and activities from both the VC Learn platform and the Drury textbook.

Uploaded by

arronyeagar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

Module Code: MFAC7319

Learning Unit 1: Planning and controlling of inventory


Theme and Learning Outcomes Textbook (Drury) reference Concept Videos VC Learn & Textbook
Activities
Theme 1: Economic Order Quantity (EOQ) Content supplemented from Drury, C. Economic Order Quantity (EOQ) VC Learn
 Describe the three motives for holding 2020. Management and Cost Accounting. https://youtu.be/qx2n9qQC_Ro Activity 1.1.1
inventory 11th ed. Chapter 25 Activity 1.2.1
 Apply the economic order quantity (EOQ)  Why do firms hold inventories? Example – EOQ calculation
to a set of information  Relevant costs for quantitative models https://youtu.be/YKzaKhCtxkY Drury 11th ed. Chp 25
 Make decisions about quantity discounts under conditions of certainty (Drury 11th ed. Chapter 25 textbook – Q25.14) (textbook)
(e.g. EOQ vs quantity discount decisions)  Determining the economic order Question 25.1 – 25.19
 Discuss the qualitative factors you would quantity EOQ vs quantity discount decisions
take into consideration before accepting  Assumptions of the EOQ formula https://youtu.be/ovsDmX1Ux2c Drury 11th ed. Chp 25
quantity discounts  Application of the EOQ model in (student manual)
 Decide when to place an order determining the optimum batch size for Example - EOQ vs quantity discount decisions Question 25.1 – 25.6
(e.g. re-order point) a production run https://youtu.be/TY-Bg3oW2cw
 Quantity discount (Drury 11th ed. Chapter 25 textbook – Q25.18)
 Determining when to place an order
 Other factors influencing the choice of Re-order point:
order quantity https://youtu.be/EfWwmVminPQ

Example – Re-order point calculation


https://youtu.be/8T229IbwjhA

Theme 2: Safety Stock Content supplemented from Drury, C. Safety stock


 Calculate Apply safety stock levels (will 2020. Management and Cost Accounting. https://youtu.be/AR3pNmjmGDc
be given) 11th ed. Chapter 25
 Discuss the purpose of implementing a  Uncertainty and safety stocks
safety stock policy
Theme 3: Just-in-Time (JIT) Purchasing Chapter 23 Just-in-time VC Learn
 Describe how Just-in-Time (JIT) differs  Just-in-time systems https://youtu.be/ylR-NH_eMWQ Activity 1.3.1
from traditional purchasing principles
Drury textbook
Question 23.14 – 23.16

Drury student manual


Question 23.1

You might also like