SITXINV004 Control Stock Assessment :
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SITXINV004
CONTROL STOCK
Learner Workbook
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INSTRUCTIONS TO LEARNER
Overview
Written work
SITXINV004 Control stock Assessment tasks are used to measure your understanding and underpinning skills and knowledge of the overall unit of competency. When undertaking any written assessment tasks, please ensure that you address the following criteria:
- Address each question including any sub-points
- Demonstrate that you have researched the topic thoroughly
- Cover the topic in a logical, structured manner
- Your assessment tasks are well presented, well referenced and word processed
- Your assessment tasks include your full legal name on each and every page.
Active participation
It is a condition of enrolment that you actively participate in your studies. Active participation is completing all the SITXINV004 Control stock Assessment tasks on time.
Plagiarism
Plagiarism is taking and using someone else’s thoughts, writings or inventions and representing them as your own. Plagiarism is a serious act and may result in a learner’s exclusion from a course. When you have any doubts about including the work of other authors in your SITXINV004 Control stock Assessment please consult your trainer/assessor. The following list outlines some of the activities for which a learner can be accused of plagiarism:
- Presenting any work by another individual as one’s own unintentionally
- Handing in assessments markedly similar to or copied from another learner
- Presenting the work of another individual or group as their own work
- Handing in assessments without the adequate acknowledgement of sources used, including assessments taken totally or in part from the internet.
If it is identified that you have plagiarised within your SITXINV004 Control stock Assessment then a meeting will be organised to discuss this with you, and further action may be taken accordingly.
Collusion must be typed using document software such as (or similar to) MS Office. Handwritten assessments will not be accepted (unless, prior written confirmation is provided by the trainer/assessor to confirm).
Competency outcome
There are two outcomes of assessments: S = Satisfactory and NS = Not Satisfactory (requires more training and experience).
Once the learner has satisfactorily completed all the tasks for this module the learner will be awarded “Competent” (C) or “Not yet Competent” (NYC) for the relevant unit of competency.
If you are deemed “Not Yet Competent” you will be provided with feedback from your assessor and will be given another chance to resubmit your assessment task(s). If you are still deemed as “Not Yet Competent” you will be required to re-enrol in the unit of competency.
Additional evidence
If we, at our sole discretion, determine that we require additional or alternative information/evidence in order to determine competency, you must provide us with such information/evidence, subject to privacy and confidentiality issues. We retain this right at any time, including after submission of your assessments.
Confidentiality
We will treat anything, including information about your job, workplace, employer, with strict confidence, in accordance with the law. However, you are responsible for ensuring that you do not provide us with anything regarding any third party including your employer, colleagues and others, that they do not consent to the disclosure of. While we may ask you to provide information or details about aspects of your employer and workplace, you are responsible for obtaining necessary consents and ensuring that privacy rights and confidentiality obligations are not breached by you in supplying us with such information.
Assessment appeals process
Recognised prior learning
Candidates will be able to have their previous experience or expertise recognised on request.
Special needs
Candidates with special needs should notify their trainer/assessor to request any required adjustments as soon as possible. This will enable the trainer/assessor to address the identified needs immediately.
Assessment requirements
Assessment can either be:
- Direct observation
- Product-based methods e.g. reports, role plays, work samples
- Portfolios – annotated and validated
- Questioning
- Third party evidence.
If submitting third party evidence, the Third-Party Observation/Demonstration document must be completed by the agreed third party.
Third parties can be:
- Supervisors
- Trainers
- Team members
- Clients
- Consumers.
The third-party observation must be submitted to your trainer/assessor, as directed.
The third-party observation is to be used by the assessor to assist them in determining competency.
The assessment activities in this workbook assess aspects of all the elements, performance criteria, skills and knowledge and performance requirements of the unit of competency.
To demonstrate competence in this unit you must undertake all activities in this workbook and have them deemed satisfactory by the assessor of SITXINV004 Control stock Assessment . If you do not answer some questions or perform certain tasks, and therefore you are deemed to be Not Yet Competent, your trainer/assessor may ask you supplementary questions to determine your competence. Once you have demonstrated the required level of performance, you will be deemed competent in this unit.
Should you still be deemed Not Yet Competent, you will have the opportunity to resubmit your assessments or appeal the result.
As part of the assessment process, all learners must abide by any relevant assessment policies as provided during induction.
If you feel you are not yet ready to be assessed or that this assessment is unfair, please contact your assessor to discuss your options. You have the right to formally appeal any outcome and, if you wish to do so, discuss this with your trainer/assessor.
Throughout this unit, you will be expected to show your competency of the elements through observations or demonstrations. Your trainer/assessor will have a list of demonstrations you must complete or tasks to be observed. The observations and demonstrations will be completed as well as the activities found in this workbook.
An explanation of observations and demonstrations:
Observation is on-the-job
The observation will usually require:
- Performing a work-based skill or task
- Interaction with colleagues and/or customers.
Demonstration is off-the-job
A demonstration will require:
- Performing a skill or task that is asked of you
- Undertaking a simulation exercise.
Your trainer/assessor of SITXINV004 Control stock Assessment will inform you of which one of the above they would like you to do. The observation/demonstration will cover one of the unit’s elements.
You should be able to demonstrate the skills, knowledge and performance criteria required for competency in this unit, as seen in the Learner Guide.
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THIRD PARTY GUIDE
You should supply details of the third party to the assessor before you commence the activities (see below), unless the assessor has already selected a third party themselves. The assessor can then contact the third party in instances where they require more evidence to determine competency, or they cannot observe certain tasks themselves.
The reasons to use a third party may include:
- SITXINV004 Control stock Assessment is required in the workplace
- Where there are health and safety issues related to observation
- Patient confidentiality and privacy issues are involved.
If you are not employed, or able to complete demonstrative tasks in the workplace, you will need to inform the assessor. They will be able to provide you with a simulated environment in which to complete these tasks.
We would prefer that, wherever possible, these be “live” issues for your industry and require application of the principles that you are learning as part of your training.
Where this is not possible, you and your third party should simulate the activity tasks and demonstrations that you believe would be likely to arise in your organisation or job role.
Third party evidence can also be used to provide “everyday evidence” of tasks included in your work role that relate to the unit of competency but are not a part of the formal assessment process.
The third party is not to be used as a co-assessor – the assessor must make the final decision on competency themselves.
Documents relevant to collection of third party evidence are included in the Third Party section in the Observations/Demonstrations document.
ACTIVITIES
Complete the following activities individually or in a group (as applicable to the specific activity and the assessment environment).
Where applicable, a signed observation by either an approved third party or the assessor will need to be included in these activities as proof of completion.
ACTIVITY 1A
| Objective | To provide you with an opportunity to use stock control systems and equipment to administer all stock control and ordering processes |
| List five of the main principles of stock control. List three different stock control systems. List five items of equipment you may use to administer stock processes. |
| Objective | To provide you with an opportunity to monitor and maintain stock levels to meet organisational requirements |
| Why is it important to monitor and maintain stock levels? List three factors on which optimal stock level depends. List three factors to consider when setting a maximum stock level. |
| Objective | To provide you with an opportunity to monitor stock security and adjust procedures as required |
| List five measures you could take to improve stock security. |
| Objective | To provide you with an opportunity to inform colleagues of their individual stock ordering responsibilities |
| List three ways you could inform colleagues of their stock ordering responsibilities. |
| Objective | To provide you with an opportunity to maintain records of stock levels and create reports according to organisational procedures |
| List three benefits of maintaining stock records |
| Objective | To provide you with an opportunity to monitor stock performance, and identify and report fast or slow-selling items |
| List three measures for monitoring stock performance. What are ‘holding costs’? Give an example of a holding cost. |
| Objective | To provide you with an opportunity to monitor and adjust stock reorder cycles |
| What is a ‘reorder cycle’ and which factors influence their length? What is the formula for calculating the reorder point? |
| Objective | To provide you with an opportunity to process orders for stock according to organisational procedures |
| List five steps you should take in order to effectively processing orders for stock. |
| Objective | To provide you with an opportunity to maintain stock levels and record current accurate details |
| List three factors you should consider when setting a minimum stock level. |
| Objective | To provide you with an opportunity to check and record incoming stock against purchase and supply agreements |
| List three pieces of information that a receiving report should include |
| Objective | To provide you with an opportunity to regularly check storage of stock and ensure its protection |
| List three aspects of stock security you should regularly check. |
| Objective | To provide you with an opportunity to identify, record and report stock losses |
| List three steps you should take to identify, record and report stock losses effectively. List five potential causes of shrinkage. |
ACTIVITY 3C
| Objective | To provide you with an opportunity to identify avoidable losses and establish reasons for them |
| What is an ‘avoidable loss’? List three deliberate human actions that can cause avoidable losses. List three human errors that can cause avoidable losses. |
| Objective | To provide you with an opportunity to recommend solutions and implement procedures to prevent future losses |
| List three potential solutions for preventing future losses. Why is it important to develop a comprehensive program for minimising stock losses? |
ACTIVITY 4A
| Objective | To provide you with an opportunity to monitor delivery of stock to ensure agreed deadlines are met |
| List five requirements for monitoring and reporting on the delivery of stock effectively. |
| Objective | To provide you with an opportunity to liaise with suppliers to ensure continuity of supply |
| List five aspects of effective vendor management. |
| Objective | To provide you with an opportunity to resolve routine supply problems or refer to appropriate person for action |
| List three potential routine supply problems. List three steps involved in resolving routine supply problems. |
ACTIVITY 4D
| Objective | To provide you with an opportunity to distribute stock within the organisation according to required allocations |
| List five tips you would give to a colleague regarding how to store or display stock items promptly. |
| Objective | To provide you with an opportunity to organise stocktakes at appropriate intervals |
| 1. List three benefits of stocktaking. |
| 2. List three features common to inventory computer systems. |
| Objective | To provide you with an opportunity to allocate stocktaking responsibilities to staff and supervise the operation of the stocktake |
| List three responsibilities team leaders/supervisors have when conducting stocktakes. List three responsibilities stock counters have when conducting stakeholders. |
| Objective | To provide you with an opportunity to produce accurate stocktake reports within designated timelines |
| List five pieces of information that a stock record should include. |
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SUMMATIVE ASSESSMENTS
The summative SITXINV004 Control stock Assessment are the major activities designed to assess your skills, knowledge and performance, as required to show competency in this unit. These activities should be completed after finishing the Learner Guide. You should complete these as stated below and as instructed by your trainer/assessor.
Skills, knowledge and performance may be termed as:
- Skills – skill requirements, required skills, essential skills, foundation skills
- Knowledge – knowledge requirements, required knowledge, essential knowledge, knowledge evidence
- Performance – evidence requirements, critical aspects of assessment, performance evidence.
Section A: Skills Activity
The Skills Activity is designed to be a series of demonstrative tasks that should be assessed by observation (by the assessor or third party, depending on the circumstances).
It will demonstrate all of the skills required for this unit of competency – your assessor of SITXINV004 Control stock Assessment will provide further instructions to you, if necessary.
Section B: Knowledge Activity (Q & A)
The Knowledge Activity is designed to be a verbal questionnaire where the assessor of SITXINV004 Control stock Assessment asks you a series of questions to confirm your competency for all of the required knowledge in the unit of competency.
Section C: Performance Activity
The Performance Activity is designed to be a practical activity performed either in the workplace or a simulated environment. You should demonstrate the required practical tasks for the unit of competency and be observed by the assessor and/or third party, as applicable to the situation. If the third party is required to observe you, you will need to make the required arrangements with them.
If necessary for the activities, you should attached completed written answers, portfolios or any evidence of competency to this workbook.
Objective: To provide you with an opportunity to show you have the required skills for this unit.
A signed observation by either an approved third party or the assessor will need to be included in this activity as proof of completion.
This activity will enable you to demonstrate the following skills:
- Reading skills to:
o interpret supplier purchasing agreements, purchase orders, records of incoming stock and organisational procedures
- Writing skills to:
o prepare detailed reports on stock levels, performance, losses and stocktakes
- Oral communication skills to:
o discuss reasons for stock losses with staff
- Numeracy skills to:
- calculate:
- supplier costs and complex order costs
- complex details of stock on hand and stock losses and produce complex numerically-based reports
- reconcile incoming stock and invoices against purchase orders
- Teamwork skills to:
o direct staff on ordering responsibilities and supervise staff participation in stocktakes
- Planning and organising skills to:
o efficiently order and maintain stock so that stock levels meet organisational requirements
- Technology skills to:
- use a computer, keyboard and stock control software
- use electronic stock control equipment.
Answer the activity in as much detail as possible, considering your organisational requirements.
- Over the course of one week, identify, access and read at least three documents pertaining to either:
- Supplier purchasing agreements
- Purchase orders
- Records of incoming stock
- Organisational procedures for receiving stock.
As you read, make notes on what you consider to be the most important aspects of ordering and receiving stock.
At the end of the week, write a one-two page report outlining which documents you have read and the five aspects of ordering and receiving stock that you consider to be the most relevant/important to working practice, given recent experiences at work.
For example, if there has been an inordinate number of discrepancies between the stock that has been ordered and the stock that is actually delivered, you could argue that more attention needs to be given to carefully ordering stock and liaising with suppliers to ensure you receive the correct items.
- Over the course of two weeks, monitor stock levels, stock performance and stock loss. Keep a log in which to record your observations.
At the end of the two weeks, write a two page report detailing:
- The different stock items your organisation has
- The quantities of each stock item
- The best-performing stock item
- The worst-performing stock
- The loss, expressed in $, due to shrinkage.
- Using the information you have learned in question 2 about the loss due to shrinkage your organisation is incurring, take between half an hour and an hour out of one working day and speak to colleagues about:
- The loss, in $, your organisation is incurring due to shrinkage
- The possible reasons for this loss
- The various solutions you could implement to prevent or minimise future losses.
You do not have to speak to all colleagues at the same time (though it may help). Just be sure to speak to each and every colleague whose responsibilities include minimising shrinkage.
- Over the course of one month, calculate:
- The total cost of one stock order
- The reorder level for stock, based on current safety stock, average daily usage and lead time in days
- The total loss, in $, due to shortage over the previous month.
- Leading a team of at least two other staff members, organise and supervise at least one stocktake.
Be sure to:
- Conduct the stocktake following an appropriate interval
- Make the most of inventory systems and equipment to help you
- Identify the goods that require counting
- Allocate stocktaking responsibilities
- Record stocktakes accurately and within a suitable timeframe.
After the stocktake is complete, move necessary items of stock on to the shop floor or public space.
- During the course of two weeks, use at least three technologies to help you control stock.
You may use:
- Inventory software systems
- Computers, laptops and tablets
- Barcode scanners
- Automated stock control systems
- Any other items of technology that aid you in controlling stock.
At the end of the two weeks, write a one page report outlining which technologies you have used and why.
SECTION B: KNOWLEDGE ACTIVITY (Q & A)
Objective: To provide you with an opportunity to show you have the required knowledge for this unit.
The answers to the following questions will enable you to demonstrate your knowledge of:
- Principles of stock control:
- rotation and replenishmentproduct life cycle and maximising the use of all stockchecking for slow moving itemssegregation of non-food items from food items that have potential to cross-contaminateStock control systems
- bin card systemimprest systemintegrated point-of-sale systemledger system
- orderinglevelslossperformancemonitoring of qualityreceiptreorder cyclesrotationsecuritystocktakesvaluationwastage
- types of computer stock control systems used, their functions and featureselectronic equipment used for stock control; their functions and featuresstock security systemstypes of storage and their suitability for different kinds of stockmethods to monitor and maintain stock levels
- Specific organisation:
- relevant stock and product life and storage requirements for specific goods
- departmental or individual stock ordering responsibilities
- full content of stock control and security procedures
- sources of information on negotiated cost of supply, contractual arrangements and preferred supplier arrangements
- full content of stock ordering procedures and documents
- stock reorder cycles
- stock level reports
- stock performance reports
- stock loss reports
- full content of stocktake procedures, documents and reports
- rotation and replenishmentproduct life cycle and maximising the use of all stockchecking for slow moving itemssegregation of non-food items from food items that have potential to cross-contaminateStock control systems
- reasons for stock loss and damage and methods to control these
- Considerations in the protection of stock:
- avoiding cross contamination
- correctly applying humidity and temperature controls
- correct ventilation
- securing stock
- storing stock in correct location and conditions to avoid damage
- treating pest and vermin infestations.
- Considerations in the protection of stock:
Answer each question in as much detail as possible, considering your organisational requirements for each one.
- List five of the main principles of stock control.
- List three different stock control systems.
- What is a reorder cycle and on which factors would organisations base it?
- List five storage steps you can take in order to improve stock security and prolong product life cycles.
- List five items of equipment you might use for administering stock processes.
- List three aspects of stock control that will be influenced by the industry your organisation serves.
- List three aspects of stock control that will be influenced by the specific nature of work your organisation does.
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SECTION C: PERFORMANCE ACTIVITY
Objective: To provide you with an opportunity to demonstrate the required performance elements for this unit.
A signed observation by either an approved third party or the assessor will need to be included in this activity as proof of completion.
This activity will enable you to demonstrate the following performance evidence:
- Order, control and administer continuous and efficient supply relating to at least six different types of stock items
- Use stock control procedures to monitor and maintain stock levels for the above items over a stock life cycle period that includes a stocktake
- Produce and distribute stock control reports
- Complete above stock order and reporting activities within commercial time constraints.
Answer the activity in as much detail as possible, considering your organisational requirements.
- Over the course of one month, take responsibility for:
- Conducting a stocktake
- Producing and distributing stock reports
- Ordering at least six different items of stock
- Receiving and checking the delivery of stock
- Resolving any routine supply problems
- Controlling this stock flow
- Administering continuous and efficient supply of stock
- Maintaining stock security
- Minimising shrinkage
- Maintaining appropriate levels of stock in both the stockroom and the shop floor/public space
- Leading, organising and supervising stocktakes ready for the next stock order.
Make sure you complete each of these tasks within the required commercial time constraints.
At the end of the month, write a one-two page report outlining the three main things you have learned. These might be a new skill, a better understanding of stock control processes or a particular experience.
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