Industrial Economics (5 cr)

Evaluation scale

H-5

Content scheduling

Spring 2025

Objective

After completing this study unit, the student will be able to:
- tell the basic processes of an enterprise
- discuss the processes by applying process thinking
- explain what is meant by value chain
- discuss the main elements of operations management
- describe the success factors of a supply chain and the influence of those factors to the customer service level, profitability and competitiveness of a company
- explain the influence of eg purchasing, inventories and transportation on business economy and competitiveness
- discuss the main principles and terminology of production planning and control
- explain the role of production planning
- combine the business processes and information systems to all the operations in a company.

Content

- Processes and process thinking
- Role of different supply chain elements for the competitiveness of the company: purchasing, inventories and transportation as a part of logistics process
- Measures of Profitability, Economy and Service Level
- Basic Terminology and Aims of Operations management, Production and Production Control
- Forms and Methods of Production
- Production Scheduling
- Principles of Production Control
- Information Flows in Business Process
- Basics of quality and environmental management

Materials

Slack, Nigel, Alistair Brandon-Jones, ja Nicola Burgess. Operations Management. Tenth edition. Harlow, England ; New York: Pearson, 2022.

+ course material in Itslearning

Teaching methods

In-person teaching, doing assignments, and studying materials
Group work, independent work

Exam schedules

Exam date will be 23.4.

(re-examination dates defined later)

Pedagogic approaches and sustainable development

Work-life orientation, team learning, applying knowledge through diverse methods and current tasks.

Completion alternatives

No alternative ways to complete the course

Student workload

5 ects
In-person lectures
Independent assignments
Group assignments
Exam preparation and exam

Evaluation methods and criteria

80% Exam (Two re-examinations. Failed grade can be re-examined max twice, a passed grade once)
20% Assignments, Presentations
Course consists of obligatory assignments/presentations.

Further information

Lectures are primary channel for questions and comments

Other communication through itslearning.

Email/phone in urgent cases.