SECTION 1: maintain stock levels and records

Assessment Task 1

Worksheets

SITXINV401 Control Stock

Student Name: __________________________________________________

Group Number: ____________________________________________________

Assessor’s Name:__________________________________________________

Total Mark will be recorded as

Satisfactory / Not satisfactory

Results and feedback will be available within 1 week after completing this assessment

These results need to be compiled with another assessment event

SECTION 1: maintain stock levels and records

1. List five items of incoming stock you might be required to check.

i. event supplies_________________________________________________________

ii. house keeping supplies_________________________________________________

iii. customers travel products_______________________________________________

iv. beverages____________________________________________________________

v. food________________________________________________________________

2. State four general capabilities, features and functions of computerised stock recording systems.

i. keep track of the stock on hand by regularly counting it________________________

ii. identify your minimum stock levels of particular items. This number represents the minimum amount of stock that should be on the shelf at any given time________________________

iii. place an order for stock as soon as it reaches its minimum level_________________

iv. order the right amount of the stock at the right time. The amount ordered is based on how much stock you turnover (or use) in a specific period of time _____________________________

3. Explain the capabilities, features and functions of Electronic Data Interchange (EDI).

This integrated system connect POS (glossary) terminals with computers that automatically record sales and instantly recalculates the current level of stock

4. Describe how manual or electronic bin card systems are used to record and track stock levels.

5. Identify three ways you can monitor and maintain stock levels as per your organisation’s requirements to prevent over- or under-supply.

i. Manually_____________________________________________________________

ii. Electronically_________________________________________________________

iii. A combination of both__________________________________________________

6. A new staff member has just arrived. Provide six tips on what stock information to monitor.

i. Stock description (item name and brand)___________________________________

ii. Size of stock (weight, volume, number of items)_____________________________

iii. Cost and selling price of items on hand_____________________________________

iv. The minimum order/quantity specified be the supplier_________________________

v. Quantity and dollar value of items currently on order and received in response to orders

vi. Sales figures for both the quantity and dollar value of items sold for the current financial period, as well as previous financial years’ sales___________________________________________

7. You also need to coach the new staff member on how to maintain records and reports on stock levels. List six actions they’re required to take.

i. Match stock received with stock ordered by checking delivery documentation against stock order forms.____________________________________________________________________

ii. Use computer programs to update and maintain stock records and create accurate reports according to your organisation’s procedures______________________________________

iii. Manually count and order stock using an electronic scanner____________________

iv. Record discrepancies between actual stock on hand and book value following a stock count

v. Ensure you’re actually received stock from suppliers before issuing payment______

vi. Ensure that any stock under your control is sold at the correct price______________

8. List six stock records you might need to monitor and maintain if you work in a large establishment.

i. Stock prices__________________________________________________________

ii. Stock ordered_________________________________________________________

iii. Stock received________________________________________________________

iv. Stock damaged or lost__________________________________________________

v. Stock in storage off-site_________________________________________________

vi. Rotation of stored stock_________________________________________________

9. Describe the information you would include on a stock usage report.

Date range – Start date and end date. Item description and quantity.

10. Monitoring stock performance helps you identify and report fast- and slow-moving items. Look at the data below. Identify which stock is fast-selling and which is slow-selling.

Total sales of Beer X over a six-month period were $24 000.

The value of opening stock was $33 000.

The value of closing stock was $3 000.

Fast-selling

Total sales of Beer Y over a six-month period were $24 000.

The value of opening stock was $40 000.

The value of closing stock was $26 000.

Slow-selling

11. What are stock reorder cycles?

They’re designated, daily, weekly, fortnightly or monthly cycles for reordering stock.

12. Describe how you would monitor reorder cycles so you know when to adjust them.

1. You have to be familiar with the products in your area.

2. Regularly check the reorder cycle to see that it’s working (check your bin cards and usage reports, regularly calculate the stock turn rate, and count the stock in work and storage areas regularly).

3. To adjust it you may need to change the amount of stock ordered or the frequency of the order.

13. You need to delegate some ordering responsibilities to a team member. Describe how you would do this, including any training or coaching you’d provide to demonstrate good teamwork skills.

Make sure they’re well informed about their individual stock ordering responsibilities. Coach them on completing and interpreting stock control records and remind them to keep stock records legible and accurate. Monitor staff time management. If necessary, re-organise duties to help them meet timeframes. Provide training in using ordering equipment. Ensure staff are familiar with the reorder cycles and adhere to them.

Дата добавления: 2015-10-29