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Unit of competency details

TLIX0013X - Maintain stock control and receivals (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes TLIA3038 - Control and order stock 11/Jun/2020
Supersedes TLIA3039 - Receive and store stock 11/Jun/2020

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 12/Jun/2020


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  13/Aug/2020 
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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 maintain stock control and receivals. It includes establishing supply arrangements, monitoring and maintaining stock, processing receivals and storing stock, determining stock wastage and discrepancies and performing stock audits and reporting.

Stock control involves the monitoring and managing of an organisation's stock. It applies to all stock at every stage of the production process from purchasing and delivery to using and reordering stock.

Receivals is the function of checking items delivered as new stock or supplies. It requires the inspection of goods and materials for quality, condition and quantity and the allocating of space in the storage facility or warehouse.

The unit is applicable to those with responsibilities for stock control and/or receivals 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 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 

Establish supply arrangements  

1.1 

Approved business data, forecasting methods and measures to calculate stock levels for standard business periods, peak seasons and special events are established

1.2 

Optimum supply arrangements are sourced and negotiated using approved purchasing specifications

1.3 

Stock quantities and cost effective terms of purchase are established

1.4 

Agreements are recorded, in accordance with stock control and receival procedures

2 

Monitor and maintain stock 

2.1 

Stock control systems and equipment to administer and monitor ordering processes and procedures, including real time tacking information from stock handling and data collection technologies, are used

2.2 

Stock levels and reorder cycles are monitored and maintained using approved forecasting methods and tools

2.3 

Evaluation of stock against specifications, including adjusting sources of supply, is undertaken, as required

2.4 

Optimal safety stock placement and service level optimisation is monitored, in accordance with the continuity plan and stock control and receival procedures

2.5 

Stock levels are recorded and reported, in accordance with stock control and receival procedures

3 

Process receivals and store stock 

3.1 

Orders for stock are processed and documented, including checking and recording receivals, against purchase and supply agreements

3.2 

Stock is distributed, transported and stored in an approved storage area using safe manual handling techniques

3.3 

Stock is inspected for quality, use by dates and damage

3.4 

Stock is labelled and any excess is reported, in accordance with stock control and receival procedures

4 

Determine stock wastage and discrepancies  

4.1 

Control system and procedures for stock with high wastage or loss is implemented

4.2 

Stock is rotated for maximum use and minimum wastage, as required

4.3 

Excess or spoilt stock, including hazardous substances, is disposed of safely, in accordance with stock control and receival procedures

4.4 

Stock losses and discrepancies are recorded, in accordance with stock control and receival procedures, and security measures are reviewed

5 

Perform stock audits and report 

5.1 

Stock audits are performed and reports are produced within designated timeframes

5.2 

Audit findings and discrepancies in stock and receivals are reported to approved personnel

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 but is not equivalent to TLIA3038 Control and order stock and TLIA3039 Receive and store stock.

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 the requirements of the elements and performance criteria on at least one occasion and includes

  • assessing stock loss, wastage, excesses and discrepancies
  • completing stock orders and receivals within established timelines
  • disposing of stock safely including hazardous substances
  • forecasting stock and receivals using approved methods and tools
  • identifying supply sources for different types of products
  • identifying third party inventory control operations
  • implementing cost effective stock purchasing and control systems
  • maintaining stock and receival data and records
  • monitoring optimal safety stock placement and service level optimisation
  • monitoring stock control systems, stock quality and cost effectiveness of supplies
  • performing stock audits
  • producing stock control reports
  • receiving, storing, monitoring and maintaining stock levels over life cycle periods
  • undertaking supplier and customer relationship management
  • utilising stock handling, receivals and data collection technologies
  • working with continuity plan and stock control and receival policies and procedures.

Knowledge Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all the requirements of the elements and performance criteria and includes knowledge of

  • continuity plans
  • contractual and preferred supplier arrangements
  • disposal methods for stock and waste including hazardous substances
  • stock control and receivals policies and procedures
  • principles of stock control including:
  • approaches to calculating stock levels and replenishment requirements
  • factors that may influence purchase specifications
  • forecasting methods for calculating inventory consumption
  • methods and tools for calculating cost effective stock quantities including
  • methods of stock control including FIFO (First In, First Out) and LIFO (Last In, First Out)
  • standard measures and formulas for yield testing
  • stock control systems including bin card system, imprest system, integrated point of sale system and ledger systems
  • product life and storage requirements for specific stock
  • real time information using stock data technologies
  • report requirements on stock loss, wastage, excesses and discrepancies
  • safe manual handling techniques
  • safe stock placement and service level optimisation
  • security measures for stock including storage and tracking
  • stock control audits
  • stock ordering and delivery processes
  • stock quality control
  • stock reorder cycles for standard business periods, peak seasons and special events
  • supplier and customer relationship management
  • supply sources for different types of products
  • types of computerised stock control systems, their functions and features.

Assessment Conditions

Assessors must hold credentials specified within the Standards for Registered Training Organisations current at the time of assessment.

Assessment must satisfy the Principles of Assessment and Rules of Evidence and all regulatory requirements included within 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 must include access to a range of

  • exercises, case studies or other simulations
  • materials, tools and equipment used in industry including:
  • access to suppliers with whom the learner can interact, commercial purchase specifications, stock control procedures and reports and costs and contractual documentation used for the purchase of stock
  • stock control software systems and applications
  • documentation including organisational policies and procedures, industry standards, regulations, codes of practice, operational manuals and equipment specifications.

Links

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