Material Sourcing and Purchasing in Global BusinessLaajuus (3 cr)

Objective

After completing the course, students will be able to
• recognise the obligations, costs, and risks associated with purchasing and selling
• compare the opportunities of international material sourcing
• analyse the impact of material sourcing on product pricing and production schedules
• choose payment methods for international trade
• evaluate supplier selections and procurement decisions considering sustainability and economic perspectives.

Content

• Responsible and economically viable material sourcing in the global market
• Payment methods in international trade
• Supplier selection considering the company's procurement strategy and product-specific requirements

Qualifications

Competences corresponding to the goals of the following courses:
Supply Chain Management in Fashion Industry; Pricing and Budgeting

Assessment criteria, satisfactory (1)

Students recognise the key obligations, costs, and risks associated with purchasing and selling, but their understanding is general. They can compare the opportunities of international material sourcing with simple examples, but justifications are limited. They can describe the impact of material sourcing on product pricing and production schedules at a general level, but the analysis is superficial. They can name payment methods for international trade. Students recognise the sustainability and economic perspectives related to supplier selections, but the evaluation is superficial.

Assessment criteria, good (3)

Students can explain the obligations, costs, and risks associated with purchasing and selling and understand their significance in business. They can compare the opportunities of international material sourcing with justified observations. They can analyse the impact of material sourcing on product pricing and production schedules clearly and justifiably. They can choose appropriate payment methods for international trade and justify their choices. Students can evaluate supplier selections and procurement decisions considering sustainability and economic perspectives and make consistent justifications.

Assessment criteria, excellent (5)

Students can analyse the obligations, costs, and risks associated with purchasing and selling and their impact on business. They can critically compare the opportunities of international material sourcing and present well-justified solutions. They master the impact of material sourcing on product pricing and production schedules and can apply this knowledge. They can evaluate and choose payment methods for international trade considering risks, costs, and efficiency for business. Students can evaluate supplier selections and procurement decisions considering sustainability and economic perspectives and suggest development measures to improve these areas. They can apply their knowledge to challenging material sourcing and international purchasing situations and suggest innovative and well-justified solutions.

Assessment criteria, approved/failed

Students recognise the key obligations, costs, and risks associated with purchasing and selling, but their understanding is general. They can compare the opportunities of international material sourcing with simple examples, but justifications are limited. They can describe the impact of material sourcing on product pricing and production schedules at a general level, but the analysis is superficial. They can name payment methods for international trade. Students recognise the sustainability and economic perspectives related to supplier selections, but the evaluation is superficial.