- International Fees
International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
Course details
This course explores the key aspects that affect the financial success of sawmilling. It addresses all key factors and strategies necessary to ensure a mill's sustainability. Economic factors, such as how supply and demand impact lumber production and prices, how lumber is treated as a commodity product, and the strategies that can be used to reduce the risks of these factors are focused on. The costs that affect sawmilling, including the differing log supply markets in three major regions of North America, key performance indicators used to measure a sawmill's performance, and capital investment criteria are also discussed. The importance of by-products to a sawmill's financial success are highlighted. In the Sales and Marketing module, the role of new and innovative lumber products, and how sawmills can exploit these are reviewed. A key part of the course is the application of what is learned in a hands-on course project. The concepts explored in this course are foundational for the rest of the Business of Sawmilling program.
Prerequisite(s)
- No prerequisites are required for this course.
Credits
3.0
- Not offered this term
- This course is not offered this term. Please check back next term or subscribe to receive notifications of future course offerings and other opportunities to learn more about this course and related programs.
Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Describe the key aspects of lumber as a commodity, the effect of economic factors on lumber manufacturing, and the risks associated with the lumber business
- Explain the main factors that impact input fiber pricing and how they can be mitigated
- Describe the main factors that have a financial impact at every stage of lumber manufacturing and how to evaluate a lumber mill's performance
- Describe how by-products can impact a mill's financial performance
- Explain the impact of external economic and regulatory factors on a mill's financial performance
- Explain how a Sawmill operation can evaluate capital investments, and ensure it is attaining the best return from its investment
Effective as of Fall 2020
Related Programs
Lumber Industry Economics (ECON 1610) is offered as a part of the following programs:
- Indicates programs accepting international students.
- Indicates programs with a co-op option.
School of Construction and the Environment
- Business of Sawmilling
Associate Certificate Part-time
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Programs and courses are subject to change without notice.