Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
SIRRMRM004 Mapping and Delivery Guide
Develop a merchandise financial plan
Version 1.0
Issue Date: April 2024
Qualification | - |
Unit of Competency | SIRRMRM004 - Develop a merchandise financial plan |
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Description | |||
Employability Skills | |||
Learning Outcomes and Application | This unit describes the performance outcomes, skills and knowledge required to undertake merchandise financial planning for a retail organisation. It requires the ability to forecast sales, inventory and profit to create a merchandise financial plan that maximises organisational profitability and performance. The merchandise financial plan documents a high-level budget for the financial management of merchandise and is used to influence financial planning at a category level. This unit applies to individuals working in merchandise management-related roles in a diverse range of retail sectors and business contexts. They operate with independence and are responsible for making a range of operational business decisions related to the management of merchandise. No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. Skills must be demonstrated in a retail environment. This can be: an industry workplace a simulated industry environment. Assessment must ensure access to: relevant documentation: merchandise strategy post-trade analysis data in-trade performance data templates and software for merchandise financial planning. Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors, and: have worked in the retail industry for at least three years where they have applied the skills and knowledge within this unit of competency. |
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Prerequisites/co-requisites | |||
Competency Field | Merchandise Management |
Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Review organisational financial information. |
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Element: Develop merchandise financial plan. |
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Element: Review and re-plan merchandise financial plan. |
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