Assessor Resource

TLIA4028
Assess and monitor optimum stock levels

Assessment tool

Version 1.0
Issue Date: April 2024


This unit involves the skills and knowledge required to assess and monitor optimum stock levels in accordance with workplace requirements and relevant regulations, as part of work activities undertaken within the transport and logistics industry.

It includes assessing projected demand, assessing variables that impact on optimum stock levels, and determining and monitoring optimum inventory levels.

Work is performed under general guidance on progress and outcomes of work. It requires the exercise of discretion and judgement for self and others in planning and using resources, services and processes to achieve required outcomes within organisational policy and procedures.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

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


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.

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Assess projected demand

1.1

Information/data from sales plan or stock movement is analysed

1.2

Projected high and low volume periods are determined from the analysis of sales plan and/or stock movement data

1.3

Seasonal nature of stock demand is determined from the analysis of sales plan and/or stock movement data

1.4

Required inventory levels at different production and sales cycle stages are determined from the analysis of sales plan and/or stock movement data

2

Assess variables that impact on optimum stock levels

2.1

Stock manufacturing/supply and consignment delivery lead times are determined

2.2

Internal processing and distribution times are determined

2.3

Spoilage and obsolescence times are calculated as required

2.4

Maximum stock carrying capacity is assessed

2.5

Physical and human resources are assessed in relation to projected required stock levels

2.6

Contingencies are developed for abnormal distribution stoppages/slow-downs to supply chain

3

Determine optimum inventory levels

3.1

Production and sales cycle stages are correlated to stock manufacturing supply and distribution lead times

3.2

Safety stock levels are calculated

3.3

Optimum inventory levels are identified

4

Monitor optimum inventory levels

4.1

Inventory benchmarks are continually compared to current and known future sales turnover/production requirements

4.2

Adjustments to inventory levels are undertaken in accordance with reassessed sales turnover/production requirements, workplace procurement processes and within scope of authority

4.3

Changes and/or requests for adjustments to inventory levels are documented in accordance with workplace policies

4.4

Resources are assembled in accordance with identified optimum inventory levels

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

applying relevant legislation and workplace procedures

communicating and working effectively with others

completing relevant documentation

modifying activities depending on operational contingencies, risk situations and environments

planning and organising resource availability including the competencies of individuals in a team or group

reading, interpreting and following relevant instructions, procedures and policies

reporting and/or rectifying identified problems, faults or malfunctions promptly, in accordance with regulatory requirements and workplace procedures

selecting and applying relevant technology, information systems and procedures

working systematically with required attention to detail without injury to self or others, or damage to goods or equipment.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

Australian codes and regulations relevant to optimising stock levels

computer records/documentation requirements when assessing and monitoring optimum stock levels

focus of operation of supply arrangements, resources, management and workplace operating systems

problems that may occur when assessing and monitoring optimum stock levels and appropriate action that can be taken to resolve these problems

purpose and use of key information required when optimising stock levels including supply requirements, supplier information, enterprise contract procedures, sales plan and distribution times

workplace business policies and plans including procedures for maintaining confidentiality

workplace procedures and policies for assessing and monitoring optimum stock levels

worksite layout and organisational structure.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment include:

a range of relevant exercises, case studies and/or simulations

relevant and appropriate materials, tools, equipment and personal protective equipment currently used in industry

applicable documentation including workplace procedures, regulations, codes of practice and operation manuals.

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.

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Assess projected demand

1.1

Information/data from sales plan or stock movement is analysed

1.2

Projected high and low volume periods are determined from the analysis of sales plan and/or stock movement data

1.3

Seasonal nature of stock demand is determined from the analysis of sales plan and/or stock movement data

1.4

Required inventory levels at different production and sales cycle stages are determined from the analysis of sales plan and/or stock movement data

2

Assess variables that impact on optimum stock levels

2.1

Stock manufacturing/supply and consignment delivery lead times are determined

2.2

Internal processing and distribution times are determined

2.3

Spoilage and obsolescence times are calculated as required

2.4

Maximum stock carrying capacity is assessed

2.5

Physical and human resources are assessed in relation to projected required stock levels

2.6

Contingencies are developed for abnormal distribution stoppages/slow-downs to supply chain

3

Determine optimum inventory levels

3.1

Production and sales cycle stages are correlated to stock manufacturing supply and distribution lead times

3.2

Safety stock levels are calculated

3.3

Optimum inventory levels are identified

4

Monitor optimum inventory levels

4.1

Inventory benchmarks are continually compared to current and known future sales turnover/production requirements

4.2

Adjustments to inventory levels are undertaken in accordance with reassessed sales turnover/production requirements, workplace procurement processes and within scope of authority

4.3

Changes and/or requests for adjustments to inventory levels are documented in accordance with workplace policies

4.4

Resources are assembled in accordance with identified optimum inventory levels

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions can be found in the Companion Volume Implementation Guide.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

applying relevant legislation and workplace procedures

communicating and working effectively with others

completing relevant documentation

modifying activities depending on operational contingencies, risk situations and environments

planning and organising resource availability including the competencies of individuals in a team or group

reading, interpreting and following relevant instructions, procedures and policies

reporting and/or rectifying identified problems, faults or malfunctions promptly, in accordance with regulatory requirements and workplace procedures

selecting and applying relevant technology, information systems and procedures

working systematically with required attention to detail without injury to self or others, or damage to goods or equipment.

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

Australian codes and regulations relevant to optimising stock levels

computer records/documentation requirements when assessing and monitoring optimum stock levels

focus of operation of supply arrangements, resources, management and workplace operating systems

problems that may occur when assessing and monitoring optimum stock levels and appropriate action that can be taken to resolve these problems

purpose and use of key information required when optimising stock levels including supply requirements, supplier information, enterprise contract procedures, sales plan and distribution times

workplace business policies and plans including procedures for maintaining confidentiality

workplace procedures and policies for assessing and monitoring optimum stock levels

worksite layout and organisational structure.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment include:

a range of relevant exercises, case studies and/or simulations

relevant and appropriate materials, tools, equipment and personal protective equipment currently used in industry

applicable documentation including workplace procedures, regulations, codes of practice and operation manuals.

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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Forms

Assessment Cover Sheet

TLIA4028 - Assess and monitor optimum stock 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

TLIA4028 - Assess and monitor optimum stock 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: