Finance and Management

SITXINV004 Control Stock

27 April 2023 13:37 PM | UPDATED 1 year ago

SITXINV004 Control Stock :

SITXINV004 Control Stock
SITXINV004 Control Stock

Assessment Matrix

        ELEMENTS & PERFORMANCE CRITERIAWorkbook ActivitiesObservationsSummative AssessmentsAdditional Evidence
Maintain stock levels and records
Use stock control systems and equipment to administer all stock control and ordering processes1A1B1, B2, B5, B6, B7, C1 
Monitor and maintain stock levels to meet organisational requirements1B2A2, A6, C1 
Monitor stock security and adjust procedures as required1C3A6, B4, C1 
Inform colleagues of their individual stock ordering responsibilities1D4A6 
Maintain records of stock levels and create reports according to organisational procedures1E5A2, A6, C1 
Monitor stock performance, and identify and report fast or slow-selling items1F6A2, A6, C1 
Monitor and adjust stock reorder cycles1G7A4, A6, B3 
Process stock orders
Process orders for stock according to organisational procedures2A8A4, A6, C1 
Maintain stock levels and record current accurate details2B9A6, C1 
Check and record incoming stock against purchase and supply agreements2C10A6, C1 
Minimise stock losses
Regularly check storage of stock and ensure its protection3A11A6, B4, C1 
Identify, record and report stock losses3B12A2, A3, A4, A6, C1 
Identify avoidable losses and establish reasons for them3C13A3, A4, A6 
Recommend solutions and implement procedures to prevent future losses3D14A3, A6 
Follow-up orders
Monitor delivery of stock to ensure agreed deadlines are met4A15A6, C1 
Liaise with suppliers to ensure continuity of supply4B16A6, C1 
Resolve routine supply problems or refer to appropriate person for action4C17A6, C1 
Distribute stock within the organisation according to required allocations4D18A5, A6 
Organise and administer stocktakes
Organise stocktakes at appropriate intervals5A19A5, A6, C1 
Allocate stocktaking responsibilities to staff and supervise the operation of the stocktake5B20A5, A6, C1 
Produce accurate stocktake reports within designated timelines5C21A2, A5, A6, C1 
Performance Evidence    
Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:
Order, control and administer continuous and efficient supply relating to at least six different types of stock items22C1 
Use stock control procedures to monitor and maintain stock levels for the above items over a stock life cycle period that includes a stocktake23C1 
Produce and distribute stock control reports24C1 
Complete above stock order and reporting activities within commercial time constraints25C1 
Foundation Skills 
Foundation skills essential to performance in this unit, but not explicit in the performance criteria are listed here, along with a brief context statement.
Reading skills to:interpret supplier purchasing agreements, purchase orders, records of incoming stock and organisational procedures26A1 
Writing skills to:prepare detailed reports on stock levels, performance, losses and stocktakes27A1, A2 
Oral communication skills to:discuss reasons for stock losses with staff28A3 
Numeracy skills to:calculate:supplier costs and complex order costscomplex details of stock on hand and stock losses and produce complex numerically-based reportsreconcile incoming stock and invoices against purchase orders29A4 
Teamwork skills to:direct staff on ordering responsibilities and supervise staff participation in stocktakes30A5 
Planning and organising skills to:efficiently order and maintain stock so that stock levels meet organisational requirements31A5 
Technology skills to:use a computer, keyboard and stock control softwareuse electronic stock control equipment32A6 
Knowledge Evidence 
Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:
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-contaminate1A1B1 
Stock control systems:bin card systemimprest systemintegrated point-of-sale systemledger system1A1B2 
Stock control procedures, template documents and reports for:orderinglevelslossperformancemonitoring of qualityreceiptreorder cyclesrotationsecuritystocktakesvaluationwastage1G7B3 
Storage requirements for different kinds of stock1C, 3A3, 11B4 
Use of stock control equipment and software where appropriate1A1B5 
Specific industry sector: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 levels1A1B6 
Specific organisation:relevant stock and product life and storage requirements for specific goodsdepartmental or individual stock ordering responsibilitiesfull content of stock control and security proceduressources of information on negotiated cost of supply, contractual arrangements and preferred supplier arrangementsfull content of stock ordering procedures and documentsstock reorder cyclesstock level reportsstock performance reportsstock loss reportsfull content of stocktake procedures, documents and reportsreasons for stock loss and damage and methods to control these1A7B7 
Considerations in the protection of stock:avoiding cross contaminationcorrectly applying humidity and temperature controlscorrect ventilationsecuring stockstoring stock in correct location and conditions to avoid damagetreating pest and vermin infestations1C, 113, 11B4 
SITXINV004 Control Stock



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