Unit of competency details

SIRXPRO003A - Review product or service performance (Release 2)

Summary

Releases:
ReleaseStatusRelease date
2 (this release)Current 13/Jun/2012
(View details for release 1) Replaced26/Feb/2011

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to WRWPL504A - Review product/ service performanceUpdated and equivalent to WRWPL504A 26/Feb/2011

Training packages that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080501 Sales  23/Oct/2008 
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Modification History

The version details of this endorsed unit are in the table below. The latest information is at the top.

Release 

Comments 

Second Release

Editorial updates

Unit Descriptor

This unit describes the performance outcomes, skills and knowledge required to review the performance of retail or wholesale products or services as part of continuous improvement.

Application of the Unit

This unit applies to personnel who are responsible for internal and external research in order to confirm market opportunities. It includes accessing product or service opportunities and monitoring performance of those products or services.

Licensing/Regulatory Information

No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

Pre-Requisites

Nil

Employability Skills Information

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements and Performance Criteria

Element 

Performance Criteria 

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

1. Conduct internal research on current retail or wholesale business position.

1.1.Compare strategic goals and performance indicators  with actual performance.

1.2.Compare forecasts  for a range of future products and services.

1.3.Compare forecasts for future products and services with performance of current range.

2. Conduct external research on current business position.

2.1.Ascertain business performance in the marketplace using best available and reliable indicators .

2.2.Collect and analyse information  on current business performance from business partners.

3. Assess opportunities for new products and services.

3.1.Assess information about emerging products and services.

3.2.Check information about emerging products and services with internal staff and supplier personnel .

3.3.Assess and compare shifts in demand for current products and services.

3.4.Factor information about emerging products and services into plans .

3.5.Adjust marketing plans and sales strategies to reflect emerging customer demands and changing market demographics.

4. Monitor product and service performance.

4.1.Analyse performance  of products and services.

4.2.Initiate changes to range based on current performance of products and services.

4.3.Discuss and review analysis of business performance with relevant internal and external personnel .

4.4.Review of retail or wholesale products and services to accurately monitor business success.

Required Skills and Knowledge

This section describes the essential skills and knowledge and their level, required for this unit.

Required skill 

  • interpersonal skills to:
  • check information with business and supplier personnel
  • discuss and review analysis of business performance with relevant internal and external personnel through clear and direct communication
  • ask questions to identify and confirm requirements
  • use language and concepts appropriate to cultural differences
  • use and interpret non-verbal communication
  • literacy and numeracy skills to:
  • read and interpret a range of business documentation
  • access and interpret client and sales information
  • calculate figures
  • generate reports
  • research and analyse internal and external factors that affect current business position
  • estimate and project sales figures to set sales objectives
  • management skills to strategise, plan and prioritise market opportunities

Required knowledge 

  • current business position
  • opportunities for new products
  • business performance over time
  • rationale for current products and services
  • product and service performance analysis techniques
  • Work Health and Safety (WHS) aspects of job
  • relevant commercial law and legislation

Evidence Guide

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:

  • researches and assesses opportunities for new products or services against performance of current products or services
  • monitors, evaluates and reports on product or service performance over a period of time
  • liaises with suppliers and other business partners to prepare up-to-date and accurate data on product or service performance for consideration within planning processes
  • produces concise reports to convey information regarding product or service performance to relevant personnel according to business policy.

Context of and specific resources for assessment 

Assessment must ensure access to:

  • a sales-oriented work environment
  • information on:
  • markets
  • competitors
  • products and services
  • suppliers
  • relevant documentation, such as:
  • policy and procedures manuals
  • sales reports
  • a range of customers with different requirements.

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
  • customer feedback
  • written or verbal questioning to assess knowledge and understanding
  • review of portfolios of evidence and third-party workplace reports of on-the-job performance.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.

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.

The development of strategic goals and performance indicators  may include:

  • consultation with key stakeholders
  • budget considerations
  • procurement processes
  • approval processes
  • contractual arrangements.

Forecasts  may vary with:

  • product or service
  • merchandising and sales strategy
  • promotional strategies and their duration, cycle, territory coverage and product or service focus.

Indicators  may be accessed via:

  • Australian Bureau of Statistics
  • competitor information
  • annual reports
  • trade publications
  • field reports
  • stock market analyses.

Sources of information  may include:

  • verbal communication, including face to face, telephone, internet and radio
  • written communication such as data exchange, letters, e-mails
  • feedback.

Internal staff and supplier personnel  may include:

  • people with varying degrees of language and literacy
  • people from a range of cultural, social and ethnic backgrounds
  • people with a range of responsibilities and job descriptions.

Plans  may include:

  • strategic business plans
  • marketing
  • promotional
  • sales strategies
  • purchasing and procurement
  • disposal
  • human resources
  • public relations
  • contingency
  • risk management
  • environmental.

Mechanisms to analyse performance  of products and services may include:

  • contact history
  • purchase requests and orders
  • tender submissions and proposals
  • invoices and payment requests
  • statements and petty cash vouchers
  • offer and contract documents
  • evaluation process documentation
  • records of supplier performance
  • financial statements.

Internal and external personnel  may include:

  • specialist contacts
  • employees
  • supervisors
  • store manager
  • area manager.

Unit Sector(s)

Cross-Sector

Competency field

Product Management

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