^

 
 

Unit of competency details

TLIA4028 - Assess and monitor optimum stock levels (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to TLIA0025 - Assess and monitor optimum stock levels 21/Nov/2021
Supersedes and is equivalent to TLIA4028A - Assess and monitor optimum stock levelsUpdated to align with the Standards for Training Packages 18/Oct/2015

Releases:
ReleaseRelease date
1 1 (this release) 19/Oct/2015


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  29/Apr/2016 
The content being displayed has been produced by a third party, while all attempts have been made to make this content as accessible as possible it cannot be guaranteed. If you are encountering issues following the content on this page please consider downloading the content in its original form

Unit Of competency

Modification History

Release 1. This is the first release of this unit of competency in the TLI Transport and Logistics Training Package.

Application

This unit involves the skills and knowledge required to assess and monitor optimum stock levels in accordance with workplace requirements and relevant regulations, as part of work activities undertaken within the transport and logistics industry.

It includes assessing projected demand, assessing variables that impact on optimum stock levels, and determining and monitoring optimum inventory levels.

Work is performed under general guidance on progress and outcomes of work. It requires the exercise of discretion and judgement for self and others in planning and using resources, services and processes to achieve required outcomes within organisational policy and procedures.

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

Pre-requisite Unit

Not applicable.

Competency Field

A – Handling Cargo/Stock

Unit Sector

Not applicable.

Elements and Performance Criteria

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

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

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.

Unit Mapping Information

This unit replaces and is equivalent to TLIA4028A Assess and monitor optimum stock levels.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=df441c6e-213d-43e3-874c-0b3f7036d851

 

Assessment requirements

Modification History

Release 1. This is the first release of this unit of competency in the TLI Transport and Logistics Training Package.

Performance Evidence

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.

Knowledge Evidence

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.

Assessment Conditions

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment include:

  • a range of relevant exercises, case studies and/or simulations
  • relevant and appropriate materials, tools, equipment and personal protective equipment currently used in industry
  • applicable documentation including workplace procedures, regulations, codes of practice and operation manuals.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=df441c6e-213d-43e3-874c-0b3f7036d851