Assessor Resource

SIRXINV003A
Plan inventory levels

Assessment tool

Version 1.0
Issue Date: March 2024


This unit requires the team member to plan and implement inventory control systems to meet current and forecasted operational and customer demand, and to monitor inventory control systems for improvement.

This unit describes the performance outcomes, skills and knowledge required to plan and control inventory levels for a business.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

Prerequisites

Nil


Employability Skills

The required outcomes described in this unit contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit is packaged will assist in identifying employability skills requirements.




Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

maintenance of accurate and appropriate inventory levels

accurate forecasts of inventory demand

plans for inventory required to meet special events or contingencies

implementation of appropriate operations, inventory control and monitoring approaches

ongoing review and improvement of inventory plans.

Context of and specific resources for assessment

Assessment must ensure access to:

a real or simulated work environment

relevant documentation, such as:

policy and procedures on inventory planning and control

industry codes of practice

OHS legislation and codes of practice

access to:

a stock control system

stock control equipment

merchandise and supplier data.

Methods of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

observation of performance in the workplace

third-party reports from a supervisor

written or verbal questioning to assess knowledge and understanding

review of portfolios of evidence and third-party workplace reports of on-the-job performance.

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.

Assessing employability skills

Employability skills are integral to effective performance in the workplace and are broadly consistent across industry sectors. How these skills are applied varies between occupations and qualifications due to the different work functions and contexts.

Employability skills embedded in this unit should be assessed holistically in the context of the job role and with other relevant units that make up the skill set or qualification.


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

This section describes the essential skills and knowledge and their level, required for this unit.

The following skills must be assessed as part of this unit:

interpersonal communication skills to:

report strategies to improve inventory control systems to relevant personnel through clear and direct communication

use language and concepts appropriate to cultural differences

use and interpret non-verbal communication

evaluating and analysing:

market trends and projections

inventory levels

projected demands on inventory

inventory control systems

time management

complex planning

literacy skills in regard to:

generating reports

maintaining inventory recording systems

numeracy skills in regard to assessing, analysing and recording inventory figures

implement inventory control procedures.

The following knowledge must be assessed as part of this unit:

inventory and operations management approaches

inventory control

systems and equipment for inventory recording and control

relationships between inventory and distribution

relationships between marketing and inventory management

forecasting as it affects inventory

special events affecting specific business operations or planning cycles

legal, administrative and business supply requirements

industrial or performance standards systems used to measure and monitor inventory levels and performance

business policy and procedures in regard to:

inventory control and distribution systems

OHS.

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below.

Enterprise planning may include:

sales

marketing

strategic

business

purchasing and procurement

disposal

human resources

public relations

contingency

risk management

environmental.

Forecasts may be based on:

database or internet searches

modelling

telephone

fax

mail

formal discussions

formal and informal correspondence.

Demands on inventory may vary according to:

customer demand

seasonal cycles

selling approaches

environmental factors

quality demands

advances in technology.

Special events may include:

sales and discounting

holiday periods

product launches

supplier and enterprise promotions.

Inventory control systems may include:

manual or electronic inventory tracking systems

stocktaking

monitoring stock levels

cyclical counts

minimisation of out-of-date stock

quality control.

Performance standards or benchmarks may include:

Australian standards

international standards

professional standards

industry standards

performance indicators

quality measures and criteria

planning milestones and timeframes

design brief

manufacturer and supplier standards.

Logistics may include:

phases or stages of the supply and distribution chain

timeframes

milestones

payment schedule

targets

outputs

infrastructural resources

levels of service.

Inventory equipment, tools and facilities may include:

electronic bar coding equipment

weighing machines

thermometers

climate control

cold storage units

storage fixtures

trolley return equipment

portable data entry

cutting equipment

protective clothing.

Purchasing systems may include:

requisitions

tenders

competitive bids

production schedules

electronic data interchange (EDI)

just in time

ordering

bills of materials

stock and supply agreements.

Inventory supply arrangements may include:

delivery of products

provision of services

maintenance and support agreements

leasing agreements and consultancies

research and development.

Relevant personnel may include:

employees

supervisors

human resources personnel

team and area manager.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Identify links between enterprise planning, sales forecasts and stock levels. 
Determine means to forecast demands on inventory. 
Establish importance of monitoring market trends and technology changes as part of managing inventory demands. 
Anticipate impact of special events on future inventory demands. 
Identify and describe the role of inventory control systems in inventory management. 
Establish operational performance standards or benchmarks to measure and control inventory levels. 
Manage scheduling to assist logistics planning and control inventory levels. 
Establish and manage relationship between distribution systems and inventory control. 
Compare and contrast different approaches to the management and control of inventory levels to achieve specific operational outcomes. 
Adopt operations management approaches to achieve wholesale business and inventory plans, including the use of material resource planning, manufacturing requirements planning and just in time. 
Devise maintenance plans or processes for inventory equipment, tools and facilities. 
Establish purchasing systems. 
Ensure inventory supply arrangements meets demand. 
Determine relationship between inventory control systems and competitive advantage for the business. 
Regularly review existing ordering and inventory control tools and procedures. 
Continually improve industrial standards or performance benchmarks for inventory control systems. 
Review and improve stock control and monitoring systems. 
Identify strategies to improve inventory control systems and report to relevant personnel. 

Forms

Assessment Cover Sheet

SIRXINV003A - Plan inventory levels
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

SIRXINV003A - Plan inventory levels

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: