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 of competency describes the skills and knowledge required to administer inventory systems. It includes identifying inventory systems, tracking inventory, planning and administering inventory systems and completing inventory audits and reports. Inventory is defined as the quantity of goods owned and stored by an organisation that is intended either for resale or is raw materials and components used in producing goods that are then sold. Inventory systems provide visibility and integration in the supply chain and they are used to record transactions associated with receiving, reducing or writing inventory off. An inventory system can include desktop software, barcode scanners, barcode labels, mobile devices and applications. The unit is applicable to those with responsibilities for inventory systems within a supply chain. No licensing, legislative or certification requirements apply to this unit at the time of publication. |
Pre-requisite Unit
Not applicable. |
Competency Field
X - Logistics |
Unit Sector
Cross sector |
Elements and Performance Criteria
ELEMENTS |
PERFORMANCE CRITERIA |
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Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
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1 |
Identify inventory systems |
1.1 |
Software, applications and devices used in the inventory system are identified |
1.2 |
Third party inventory control operations are verified |
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1.3 |
Demand forecasting methods and tools are determined |
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1.4 |
Inventory system policies, procedures and processes are confirmed |
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2 |
Plan and administer inventory |
2.1 |
Inventory characteristics are ascertained |
2.2 |
Stock specifications, locations, labels and reference numbers are validated using the inventory system |
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2.3 |
Receipt and despatch stock is securely stored in designated locations and the inventory system is updated, as required |
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2.4 |
Stock is monitored and reordered to meet optimum replenishment requirements, in accordance with organisational inventory procedures |
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2.5 |
Stock is requisitioned and documentation is updated on the inventory system, as required |
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2.6 |
Stock sorting, recycling and disposal is undertaken, in accordance with organisational inventory procedures |
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2.7 |
Stock damage and losses against forecasts are assessed and investigations are completed into unacceptable cases |
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2.8 |
Stock security is maintained, in accordance with organisational inventory procedures |
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3 |
Track inventory |
3.1 |
Inventory is monitored and tracked using the inventory system |
3.2 |
Buyers are kept informed of stock levels, in accordance with organisational inventory procedures |
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3.3 |
Inventory transactions are monitored, in accordance with organisational inventory procedures |
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3.4 |
Reorder cycles are adjusted to maintain consistent supply, as required |
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3.5 |
Discrepancies, out of specification and redirection opportunities are managed and reported using the inventory system |
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3.6 |
Inventory reports are analysed and corrective action is taken, as required |
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3.7 |
Vendor Managed Inventory (VMI) systems are used to manage inventory, as required |
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4 |
Complete inventory audits and reports |
4.1 |
Inventory audits and cycle counts are performed, in accordance with organisational inventory procedures |
4.2 |
Report on inventory system management is produced, in accordance with organisational inventory procedures |
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 may be found in the Companion Volume Implementation Guide. |
Unit Mapping Information
This unit replaces and is not equivalent to TLIA3016 Use inventory systems to organise stock control. |
Links
Companion Volume Implementation Guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=df441c6e-213d-43e3-874c-0b3f7036d851