Study Guide

Objective

After completing this study unit the student will be able to:
- apply a suitable purchasing strategy in different situations- decide what documents and payment transactions will be needed when importing goods andservices and knows where to find them- explain the risks and costs of international purchasing.
- manage the basics of services sourcing
-discuss the total lifecycle costs related to a purchase-carry out cost analysis- explain the importance and effect of different terms in purchasing (eg Incoterms 2010)- utilize the sources of information necessary for purchasing- describe various indicators measuring the performance of purchasing operations- prepare for purchasing negotiations

Content

Planning and organising of Purchasing
Global sourcing
International purchasing – risks and costs
Documentation, payment transactions and financing in international trade
Partnership
Services sourcing
Total cost approach
Measurement of purchasing operations

Materials

Teacher's lecture material and assignments.

Course book: Sollish, Fred and John Semanik. Strategic Global Sourcing Best Practices. Wiley, 2010.

Teaching methods

Lectures, class and home assignments, groupwork, exam.

Exam schedules

Course exam:
17.12.2024

Re-take exams:
5.2.2025
3.4.2025
4.6.2025

Student workload

Lectures 36 hours, class and home assignments 24 hours, groupwork 40 hours, exam preparation 35 hours.

Content scheduling

After completing the course the student will be able to:
-apply a suitable purchasing strategy in different situations
-decide what documents and payment transactions will be needed when importing goods and services and knows where to find them
-explain the risks and costs of international purchasing
-manage the basics of services sourcing
-discuss the total lifecycle costs related to purchase
-carry out cost analysis
-explain the importance and effect of different terms in purchasing (e.g. Incoterms 2020)
-utilize the sources of information necessary for purchasing
-describe various indicators measuring the performance of purchasing operations
-prepare for purchasing negotiations

Topics:
-Planning and organizing of purchasing
-Global sourcing
-International purchasing - risks and costs
-Documentation, payment transactions and financing in international trade
-Partnership
-Services sourcing
-Total cost approach

36 lecture hours 3.9.-17.12.2024. No lectures on week 42. Please check the lecture schedules from Lukkarikone.

Evaluation scale

H-5

Assessment methods and criteria

Lectures and exam 60%, assignments 40%. Attending lectures, completion of class assignments, groupwork and exam.

Assessment criteria, fail (0)

The student has not actively participated in attendance classes and/or group work. The student has serious deficiencies in knowledge, performance and results. For example, there is a lack of self-directed information seeking or the required literature has not been read or the required tools and theories have not been used in assignments or non-participation in the required presentations or assignments are completely missing or have been returned late. COPYING of any kind is not allowed and will cause the course to be rejected.

less than 50% of the total points

Assessment criteria, satisfactory (1-2)

The tasks have been returned on schedule, but they are very narrow and incomplete or there are major flaws in the presentations. The student uses key concepts when talking about their findings and observations. Can describe, classify and list things. The outputs are descriptive, but do not contain your own reflection or insights. Individual theories or practical observations are not linked to a larger whole.

50-60-% of total points: 1
60-70-% of total points: 2

Assessment criteria, good (3-4)

The tasks have been returned on schedule, they are extensive and good and the instructed tools have been used. Source literature has been used in a variety of ways and the presentations are meritorious. The student understands entities and uses theory to describe them. Demonstrates the ability to apply some principle related to the subject area and is able to combine things. Utilizes the material and theory acquired in completing the tasks.

70-80-% of total points: 3
80-90-% of total points: 4

Assessment criteria, excellent (5)

There are special merits in completing the tasks and they are extensive and thorough. The student identifies critical success factors, understands theories and presents their findings with justification. Able to see areas for improvement and is a critical thinker. Can analyze cause-and-effect relationships and handles things insightfully. High-quality background material has been searched for, found and its use is justified.

90-100% of total points: 5