TLIX9998X Maintain stock control and receivals

TLIX9998X Stock control and receivals

TLIX9998X Maintain stock control and receivals

Modification History

Release 1. This is the first release of this unit of competency in the TLI 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 purchase 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.

Prerequisite Unit

Not applicable.

Competency Field

Chain Supply

Unit 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.

 

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 organisational stock control and receivals procedures

 

Monitor and maintain stock

2.1

Stock control systems and equipment to administer and monitor ordering processes and procedures, including real time 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

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

 

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 organisational stock control and receivals procedures

 

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 organisational stock control and receivals procedures

 

 

4.4

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

 

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 is a new unit.

Links

 

 


 

Assessment Requirements for TLIX9998X Maintain stock control and receivals

Modification History

Release 1. This is the first release of this unit of competency in the TLI Training Package.

Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all the requirements of the elements, performance criteria and range of conditions 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 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 organisational stock control and receival policies and procedures

Knowledge Evidences

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

·         contractual and preferred supplier arrangements

·         disposal methods for stock and waste including hazardous substances

·         organisational stock control and receivals policies and procedures

·         principles of stock control including

·         factors that may influence purchase specifications

·         forecasting methods for calculating stock levels

·         methods and tools for calculating cost effective stock quantities

·         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

·         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

As a minimum, assessors and assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations current at the time of assessment.

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.

Assessment must occur in workplace operational situations. Where this is not appropriate then assessment must occur in simulated workplace operational situations.

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 candidate can interact, commercial purchase specifications, stock control procedures and reports, costs and contractual documentation used for the purchase of stock and stock control software systems and applications

·         documentation including organisational policies and procedures, industry standards, regulations, codes of practice, operational manuals and equipment specifications. 

Links

XXX Training Package Companion Volume Implementation Guide at: [sector webpage link here]

 

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