Application
This unit describes the performance outcomes, skills and knowledge required to process stock orders, maintain stock levels, minimise stock losses, manage stocktakes and maintain all documents that relate to the administration of any type of stock.
This unit applies to individuals responsible for stock control. They work within organisational systems and procedures, but make decisions about stock administration and may have responsibility for others.
No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Elements and Performance Criteria
ELEMENTS | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Monitor stock receipt and dispatch. | 1.1.Implement organisational policies and procedures for receipt, dispatch and secure storage of stock. 1.2.Allocate tasks and monitor staff to ensure organisational procedures are followed, and documentation is completed correctly. 1.3.Confirm that stock quantity and quality inspections on receipt meet organisational standards. 1.4.Act on variations to quantity and quality of delivered stock. 1.5.Supervise safe stock handling and storage. |
2. Maintain stock records. | 2.1.Monitor stock and maintain stock at required levels. 2.2.Maintain, monitor and adjust stock reorder cycles as required. 2.3.Provide clear information to team members about individual stock recording responsibilities. 2.4.Maintain stock storage and movement records. 2.5.Record and report stock discrepancies. 2.6.Monitor stock performance and identify and report fast and slow-selling items. |
3. Process and follow up orders. | 3.1.Process and raise stock orders according to organisational procedures. 3.2.Monitor delivery of stock to ensure agreed deadlines and inventory requirements are met. 3.3.Liaise with suppliers to ensure continuity of supply. 3.4.Resolve routine supply problems or refer to appropriate personnel for action. 3.5.Distribute stock within the organisation according to required allocations. 3.6.Handle routine supply problems or refer to management as required by store policy. |
4. Minimise stock losses. | 4.1.Regularly check storage of stock and ensure its protection. 4.2.Identify, record and report stock losses. 4.3.Identify avoidable losses and establish reasons for them. 4.4.Recommend solutions and implement procedures to prevent future losses. |
5. Coordinate stocktake or cyclical count. | 5.1.Explain procedures for stocktake and cyclical counts to team members. 5.2.Allocate stocktaking tasks to individual team members ensuring effective use of staff resources to complete task. 5.3.Provide team members with clear directions for performance of each task. 5.4.Produce accurate reports for management on stocktake data, including discrepancies. |
Evidence of Performance
Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:
maintain and order stock across one stock cycle according to organisational procedures using all of the following stock processes:
receipt
dispatch
ordering
stock level monitoring
records maintenance
produce three different stock control reports
organise and coordinate one stocktake or cyclical count
provide clear and correct information to team members involved in stock control processes.
Evidence of Knowledge
Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:
organisational policies and procedures for:
receipt and dispatch of goods, including inspection for quantity and quality
stock ordering and reordering
stock replenishment
stock rotation
reporting of stock discrepancies, damage and loss
safe transport, handling and storage of goods
stock control
stocktaking and cyclical counts
pricing, labelling and packaging
stock security
key aspects of legislation and codes of practice relevant to stock control:
Australian Consumer Law
Work Health and Safety (WHS)
manual handling
licensing for mechanical movement of stock
principles of stock control:
rotation and replenishment
product life cycle
impact of business planning and sales forecasts on stock control
types of stock control systems used in the sector
reasons for stock loss and damage and methods to control these and protect stock.
Assessment Conditions
Skills must be demonstrated in a retail environment. This can be:
an industry workplace
a simulated industry environment.
Assessment must ensure access to:
current plain English regulatory documents distributed by government regulators outlining key aspects of legislation and codes of practice relevant to stock control as listed in Knowledge Evidence
a computerised stock control system
stock for use in stock control activities
organisational policies and procedures for stock control
team members; these can be:
individuals in an industry workplace, or
individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry environment.
Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.
Foundation Skills
Foundation skills essential to performance in this unit, but not explicit in the performance criteria are listed here, along with a brief context statement. | |
SKILLS | DESCRIPTION |
Reading skills to: | interpret supplier purchasing agreements, purchase orders, records of incoming stock and organisational policies and procedures for stock control. |
Numeracy skills to: | calculate: supplier costs and complex order costs complex details of stock on hand and stock losses and produce complex numerically-based reports reconcile incoming stock and invoices against purchase orders. |
Technology skills to: | use business technology for inventory management. |
Sectors
Retail
Competency Field
Inventory