Application
This unit focuses on managing and monitoring inventory procedures and documentation for the receipt, dispatch and secure storage of goods. It involves utilising business systems to monitor inventory levels, storage, movement and reorder cycles and coordinate stock movement to ensure that inventory is available to meet business needs. | |
Prerequisites
Nil | |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA | ||
1 | Monitor receipt and dispatch of goods. | 1.1 | Determine responsibility for receipt and dispatch of products accurately. |
1.2 | Implement business policy and procedures in regard to receipt, dispatch and secure storage of products. | ||
1.3 | Observe staff functions to ensure business procedures are followed and documentation is completed correctly. | ||
1.4 | Implement business procedures to ensure products are inspected for quantity and quality on receipt. | ||
1.5 | Act upon variations to quantity and quality of delivered products according to business policy. | ||
1.6 | Supervise safe handling and storage of products according to business policy. | ||
2 | Maintain stock records. | 2.1 | Monitor stock levels and maintain at required levels. |
2.2 | Maintain, monitor and adjust stock reorder cycles as required. | ||
2.3 | Inform team members of their individual responsibilities in regard to recording of stock. | ||
2.4 | Maintain stock storage and movement records according to business policy. | ||
2.5 | Record stock discrepancies and follow procedures according to business policy. | ||
2.6 | Monitor stock performance and identify and report fast and slow selling items according to business policy. | ||
3 | Ensure inventory is on hand. | 3.1 | Coordinate deliveries to meet inventory demand. |
3.2 | Match logistics of delivery to inventory supply requirements. | ||
4 | Coordinate stocktake or cyclical count. | 4.1 | Interpret policy and procedures in regard to stocktaking and cyclical counts and explain to team members. |
4.2 | Roster staff according to allocated budget and time constraints. | ||
4.3 | Allocate stocktaking tasks to individual team members. | ||
4.4 | Provide team members with clear directions for the performance of each task. | ||
4.5 | Allocate team members to ensure effective use of staff resources to complete task. | ||
4.6 | Produce accurate reports for management on stocktake data, including discrepancies. | ||
5 | Identify stock losses. | 5.1 | Identify and record losses and assess against potential loss forecast on a regular basis. |
5.2 | Identify avoidable losses and establish reason. | ||
5.3 | Recommend and implement possible solutions for stock losses. |
Required Skills
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: safe use of available business technology application of standards applicable to inventory control interpersonal communication skills planning and prioritising work schedule interpersonal communication skills to: provide information to staff, including allocating tasks and providing clear directions through clear and direct communication ask questions to identify and confirm requirements share information give instructions use language and concepts appropriate to cultural differences use and interpret non-verbal communication literacy and numeracy skills in regard to: reading and understanding a range of workplace documents maintaining records maintaining stock ordering and recording systems mapping inventory demands checking product labelling to ensure compliance collecting, analysing and organising information operations management and leadership skills. |
The following knowledge must be assessed as part of this unit: business policy and procedures with regard to: stock control stock replenishment and reordering reporting of stock discrepancies and damage receipt and dispatch of goods, including inspection for quality and quantity identifying and recording stock losses identifying and recording discrepancies impact of business planning and sales forecasts on inventory market trends and impact of special events of inventory inter- and intra-business transfers legislation and statutory requirements, including consumer law industry codes of practice, including food handling codes OHS legislation and codes of practice, including: manual handling regulations and codes of practice plant and equipment regulations knowledge of organisation and referral mechanisms for facilitating inventory demand monitoring. |
Evidence Required
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: consistently manages and monitors staff implementation of inventory procedures and documentation for the receipt, dispatch and secure storage of goods utilises relevant business systems to accurately monitor inventory levels, storage, movement and reorder cycles on a regular basis competently organises and coordinates stock movement to ensure that inventory is available to meet business needs completes relevant business documentation accurately, in a timely manner and in agreed format as required competently organises and coordinates stocktakes and cyclical counts to monitor and review inventory levels, identify discrepancies and develop solutions to stock loss |
Context of and specific resources for assessment | Assessment must ensure access to: a wholesale work environment relevant documentation, such as: business policy and procedures manuals OHS legislation and codes of practice an inventory control system relevant business technology |
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. 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. |
Range Statement
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. | |
Business policy and procedures may relate to: | procurement processes merchandise and product range pricing, labelling and packaging requirements receipt and dispatch of goods transport, handling and storage of goods job roles and responsibilities stocktaking and cyclical counts. |
Documentation may include: | purchase requests and orders invoices and payment requests statements and petty cash vouchers offer and contract documents evaluation process documentation records of authorised officers' decisions corporate credit card transaction statements records of supplier performance financial statements asset registers records of conversation. |
Safe handling and storage of goods may include: | storage in: refrigeration freezers coolrooms dry stores product segregation packaging products for storage labelling of goods stock rotation optimum maintenance of storage areas, including: cleanliness and sanitation lighting climate control pest control ventilation disposal of damaged or spoiled goods safe manual handling and lifting techniques safe use of equipment, such as ladders and trolleys. |
Safe handling and storage techniques may vary according to: | stock characteristics OHS industry codes of practice |
Team members may: | come from a variety of social, cultural or ethnic backgrounds vary in literacy and numeracy skills vary in competencies. |
Records may be: | manual electronic templated |
Stock performance may vary according to: | customer demand seasonal cycles selling approaches environmental factors quality demands advances in technology. |
Reports for management may include: | financial reports business documents informal reports stocktake reports. |
Logistics may include: | phases or stages of the supply and distribution chain timeframes milestones payment schedules targets outputs infrastructural resources levels of service. |
Factors affecting staff roster may include: | varying levels of staff training available or required staffing levels routine or busy trading conditions full-time, part-time, casual or contract staff range of staff responsibilities awards and agreements budget allocation. |
Sectors
Sector | Wholesale |
Competency Field
Inventory | |
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. | |
Licensing Information
Not applicable.