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Evidence Guide: TLIA4028 - Assess and monitor optimum stock levels

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

TLIA4028 - Assess and monitor optimum stock levels

What evidence can you provide to prove your understanding of each of the following citeria?

Assess projected demand

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information/data from sales plan or stock movement is analysed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess variables that impact on optimum stock levels

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Stock manufacturing/supply and consignment delivery lead times are determined

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Internal processing and distribution times are determined

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Spoilage and obsolescence times are calculated as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maximum stock carrying capacity is assessed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine optimum inventory levels

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Safety stock levels are calculated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Optimum inventory levels are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor optimum inventory levels

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Resources are assembled in accordance with identified optimum inventory levels

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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.

Range Statement

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.