Objectives and competences
1. Understand Global Economic Trends: Students should be able to analyze and interpret key global economic trends, including shifts in GDP growth, trade patterns, currency exchange rates, and geopolitical developments.
2. Examine the Interconnectedness of Supply Chains: Students should comprehend the interconnected nature of global supply chains and how economic trends in one region can impact suppliers, manufacturers, distributors, and consumers across the globe.
3. Identify Risks and Opportunities: Students should be able to identify potential risks and opportunities arising from global economic trends, such as changes in demand patterns, fluctuating commodity prices, trade regulations, and geopolitical tensions, and assess their implications for supply chain management.
4. Evaluate Strategies for Adapting to Economic Changes: Students should be able to evaluate different strategies for adapting supply chain operations in response to evolving economic conditions, including sourcing decisions, inventory management, logistics optimization, and strategic partnerships.
5. Apply Analytical Tools and Models: Students should develop proficiency in using analytical tools and models to analyze the impact of global economic trends on supply chain performance, such as scenario planning, risk assessment
techniques, and economic forecasting methods.
6. Promote Sustainability and Resilience: Students should understand the importance of building sustainable and resilient supply chains in the face of economic uncertainty and volatility, including strategies for diversifying sourcing, reducing environmental impacts, and enhancing supply chain visibility and transparency.
7. Communicate Effectively: Students should be able to effectively communicate their analysis and recommendations regarding the impact of global economic trends on supply chain operations, both orally and in written form, to various stakeholders within an organization.
8. Critically Evaluate Case Studies and Real-World Examples: Students should critically evaluate case studies and real-world examples of how companies have responded to global economic trends, drawing lessons learned and best practices for supply chain management.
9. Foster Collaborative Problem-Solving: Students should engage in collaborative problem-solving activities, such as group discussions, debates, and team projects, to develop creative solutions for managing supply chain challenges in the context of global economic dynamics.
10. Ethical and Social Responsibility: Students should consider the ethical and social responsibility implications of supply chain decisions in response to global economic trends, including labor practices, human rights issues, and community impacts, and explore ways to promote ethical sourcing and sustainable business practices.
These objectives aim to provide students with a comprehensive understanding of the relationship between global economic trends and supply chain management and equip them with the knowledge and skills needed to navigate the complexities of the global business environment.
Content (Syllabus outline)
• Global Economic Trends
o Historical perspectives on global economic development
o Emerging markets and their impact on the global economy
o Technological advancements and their role in shaping global economics
• Globalization and Supply Chains
o Impact of globalization on supply chain networks
o Pros and cons of global supply chain integration
• Global Economic Trends and Their Impact on Supply Chains
o Trade Dynamics
o International trade patterns and agreements
o Tariffs, trade barriers, and their effects on supply chains
o Economic Shocks and Supply Chain Resilience
o Analysis of economic shocks
(recessions, financial crises)
o Strategies for building resilient supply chains
• Case Studies and Real-world Applications
o Case Studies on Global Economic Trends
o Analyzing real-world examples of global economic shifts and their supply chain impacts
• Future Trends and Challenges
o Anticipating Future Economic Trends
o Analyzing current indicators to predict future global economic trends
o Implications for supply chain management
o Addressing Challenges and Opportunities
• Strategies for navigating challenges such as geopolitical tensions, natural disasters, and pandemics
• Identifying opportunities for innovation and growth in the global economy.
Learning and teaching methods
• lecturing;
• multimedia presentations;
• case studies;
• team work
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding:
Critical Thinking and Analysis:
Demonstrate the ability to critically analyze global economic trends and their implications for supply chains.
Global Perspective:
Develop a global perspective, understanding the interconnectedness of economic systems and supply chain dynamics.
Resilience Planning:
Develop and implement strategies for building resilient supply chains, considering various economic scenarios.
Forecasting and Planning:
Use forecasting techniques to anticipate future economic trends and incorporate them into supply chain planning.
Effective Communication:
Communicate complex economic concepts and supply chain implications effectively through written and oral means.
Intended learning outcomes - transferable/key skills and other attributes
Development of knowledge and understanding:
Critical Thinking and Analysis:
Demonstrate the ability to critically analyze global economic trends and their implications for supply chains.
Global Perspective:
Develop a global perspective, understanding the interconnectedness of economic systems and supply chain dynamics.
Resilience Planning:
Develop and implement strategies for building resilient supply chains, considering various economic scenarios.
Forecasting and Planning:
Use forecasting techniques to anticipate future economic trends and incorporate them into supply chain planning.
Effective Communication:
Communicate complex economic concepts and supply chain implications effectively through written and oral means.
Cognitive/Intellectual skills:
- Understand and apply critical analysis and theory development and their usability in solving real professional problems, with minimum guidance.
- Get the ability to search for and synthesize new information from the field in literature and praxis.
- Synthesize different knowledge and procedures and are aware of importance of use of professional literature.
- Can select appropriate techniques for problem solving and are able to evaluate the importance and significance of data.
- Can identify key aspects of problem from different viewpoints
Key/Transferable skills
1. Further develop skills and expertise in the use of knowledge in a specific working area.
2. Upgrade the ability to become an autonomous learner.
3. Upgrade the ability to apply information technology.
4. Upgrade the ability to work in pairs and groups.
5. Further develop their communication skills in an effective manner to effectively and professionally communicate
Practical skills:
1. Get practical experience in the field of international business.
2. Are able to act autonomously with defined guidelines and certain level of supervision.
Readings
Obvezna literature / Compulsory literature:
Hill, C. W. L., & Hult, G. T. M. (2021). International business: Competing in the global marketplace (13th ed.).
McGraw-Hill Education.
Branch, A. E. (2019). Global supply chain management and international logistics. Routledge.
Dodatna literature / Additional literature:
Frankopan, P. (2019). The new silk roads: The present and future of the world. Bloomsbury Publishing.
Mangan, J., Lalwani, C., & Butcher, T. (2016). Global logistics and supply chain management (3rd ed.). Wiley.
Additional information on implementation and assessment • in-class participation (10 %),
• seminar paper (15 %),
• oral presentation (15 %),
• written examination (60 %).
