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 requires to forecast and review trends and developments that may affect operational and sales performance.
Application of the Unit
This unit applies to personnel who are responsible for collecting and analysing information on product or service performance to prepare accurate forecasts for a range of retail or wholesale products, services or markets, and to develop and report recommendations for improvement to relevant personnel.
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. Forecast trends and developments affecting operations. |
1.1.Project future trends and developments affecting retail or wholesale operations using accurate, current information . 1.2.Determine and access new sources of relevant forecast information. 1.3.Evaluate impact of future trends and developments on operations. 1.4.Regularly review new technology for possible business applications. 1.5.Report results from analysis of forecasts using qualitative and quantitative measures. |
2. Review forecasts. |
2.1.Review forecasts in a timely and accurate manner. 2.2.Isolate and analyse trends and patterns across a number of forecasts. 2.3.Report updated forecasts to relevant personnel . 2.4.Report recommendations for action based on forecasts and available information to relevant personnel. |
Required Skills and Knowledge
This section describes the essential skills and knowledge and their level, required for this unit. |
Required skills |
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Required knowledge |
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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. |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the following is essential:
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Context of and specific resources for assessment |
Assessment must ensure access to:
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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:
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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. |
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Information may include: |
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New technology may include: |
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Reports may be delivered: |
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Analysis of forecasts may involve: |
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Relevant personnel may include: |
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Available information may include: |
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Unit Sector(s)
Cross-Sector
Competency field
Product Management