Unit of competency details

SIRRINV002 - Control stock (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 31/Mar/2016

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes SIRXINV002A - Maintain and order stock• Not Equivalent • Unit updated to meet Standards for Training Packages • Updated title • Unit sector changed to Retail • Significant change to the expression of elements and performance criteria to streamline language and better define essential outcomes and performance • Updated knowledge requirements to reflect unit revisions. 30/Mar/2016


Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
SIR - Retail Services Training PackageRetail Services Training Package 1.0-3.0 
MSF - Furnishing Training PackageFurnishing Training Package 3.0-3.1 
AUR - Automotive Retail, Service and Repair Training PackageAutomotive Retail, Service and Repair Training Package 3.0 
AMP - Australian Meat Processing Training PackageAustralian Meat Processing Training Package 2.0-2.2 
AHC - Agriculture, Horticulture and Conservation and Land Management Training PackageAgriculture, Horticulture and Conservation and Land Management Training Package 1.0-1.1 

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
SIR40316 - Certificate IV in Retail ManagementCertificate IV in Retail Management 1-2 
SIR40116 - Certificate IV in Community PharmacyCertificate IV in Community Pharmacy 
SIR30316 - Certificate III in Business to Business SalesCertificate III in Business to Business Sales 
SIR30216 - Certificate III in RetailCertificate III in Retail 1-2 
SIR30116 - Certificate III in Community PharmacyCertificate III in Community Pharmacy 
MSF31313 - Certificate III in Kitchens and Bathrooms - Retail ServicesCertificate III in Kitchens and Bathrooms - Retail Services 
MSF31013 - Certificate III in Interior Decoration Retail ServicesCertificate III in Interior Decoration Retail Services 
AUR32616 - Certificate III in Automotive Tyre ManagementCertificate III in Automotive Tyre Management 
AUR32216 - Certificate III in Automotive Glazing TechnologyCertificate III in Automotive Glazing Technology 
AUR31016 - Certificate III in Automotive SalesCertificate III in Automotive Sales 
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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 089901 Purchasing, Warehousing And Distribution  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 089901 Purchasing, Warehousing And Distribution  09/Aug/2016 
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Unit Of competency

Modification History

Not applicable.

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.

Pre-requisite Unit

Nil

Competency Field

Inventory

Unit Sector

Retail

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.

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.

Unit Mapping Information

No equivalent unit.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d

 

Assessment requirements

Modification History

Not applicable.

Performance Evidence

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.

Knowledge Evidence

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.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d

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