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Bug: ID SITXINV004 CONTROL STOCK – Short answer SITXINV004 CONTROL STOCK – Short answer Assessment a – Short answer Instructions You are required to answer all questions. Read each question carefully. Ensure you have provided all required information. On completion, submit your assessment via the LMS to your assessor. These questions assess the knowledge evidence required for this unit. Should you require ‘reasonable adjustment’ to complete this assessment, discuss the options with your assessor prior to attempting the task. Reasonable adjustment means modifications or changes that give you the same opportunities in training as a person without a disability. Your assessor will discuss the conditions of assessment, e.g., open or closed book, time limits for completion, etc., with you prior to attempting this task. To be deemed satisfactory in this task you are required to answer all questions correctly. Your assessor will determine how many attempts are allowed for each question. You will require access to the learner resource for this unit, the internet and a computer (if submitting via LMS) or a pen (if submitting hard copy). Q1:List four general capabilities, features and functions of computerised stock control systems. Q2:What is an imprest system and when is it commonly used? Q3:Describe how manual or electronic bin card systems are used to record and track stock levels. Q4:Identify three ways you can monitor and maintain stock levels to prevent over- or under-supply. Q5:A new staff member has just joined the team. Provide six tips on what stock information they can use to monitor and order stock. Q6: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. Q7:Monitoring stock performance helps you identify and report fast- and slow-moving items. Look at the data below. Identify which stock is selling fast and which is selling slowly. Total sales of beer X over a six-month period was $24,000. The value of opening stock was $33,000. The value of closing stock was $3,000. Total sales of beer Y over a six-month period was $24,000. The value of opening stock was $40,000. The value of closing stock was $26,000. Q8:What is a stock reorder cycle and how do you know when to adjust them? Definition When to adjust them Q9:Describe the difference between an order form and an internal requisition form. Q10:Describe three features and functions of computerised ordering systems. Q11:Which ordering method would you use in the following situations? Write/select PAR or JIT or BOTH. You’re ordering seafood, but have very little storage space for it. _____ You’re ordering bars of soap and have plenty of storage space. _____ You’re ordering a special cheese which has a long lead time. _____ You have a minimum stock level you want to keep on hand. _____ You only have refrigerated storage space for a day’s worth of stock. _____ Q12:What are the names of two documents that contain information on negotiated cost of supply and other contractual arrangements between your organisation and preferred suppliers? Q13:You work at a resort. The lead time for a special biodynamic organic yoghurt is an average of two days. Daily usage rate is 5 kg. To be safe, you’d like to always have 15 kg on hand (three days’ worth). For budgetary and storage reasons, the maximum you’re allowed to have on hand is 30 kg. What is your reorder point? How much do you order? Q14:List the steps you take to process a delivery and identify discrepancies between your order and the stock that’s been delivered. Q15:Explain how you would record details of incoming stock and any discrepancies you identify. Q16:Which areas of your establishment should you monitor to ensure stock is secure? Q17:Identify eight security systems or equipment used to protect stock. Q18:Identify two procedures you can use to render electronic article surveillance (EAS) tags inactive at point of sale. Q19:List four things you should check for when monitoring the quality of stock in storage areas. Q20:Provide five examples of avoidable stock losses. Q21:List ways you can record and report on stock losses. Q22:State the reasons for the following stock losses. Frozen seafood defrosts and spoils. Yoghurt is held past its use-by date. Mice have chewed through bags of sunflower seeds. Meat drippings contaminate a cheesecake. Gourmet cheese is stolen from the delivery dock. Stored bread has gone mouldy. Q23:What is the main purpose behind rotating, maintaining and replenishing stock? Look at the losses in outlined in Q24 to Q27. Describe solutions you would recommend or procedures you would implement to protect stock and prevent these losses from happening again. Q24:Contents of the freezer have defrosted and melted. Q25:Milk has passed its use-by date and gone sour. Q26:Breakfast cereals are infested with moths and larvae. Q27:Food has been contaminated from cleaning chemicals stored above it. Q28:How often and when should you check the quality of stock and look for slow-moving items? Q29:Staff members are stealing stock by placing it in their personal bags before they leave the premises. Describe two security procedures you could implement to reduce staff theft of this kind. Q30:Identify five routine supply problems that might occur. Q31:Describe the steps you follow to resolve internal procedural problems that are causing disruptions to supply. Q32:You must know the product life of the stock you’re responsible for to store it appropriately. Number these items from 1 to 4 (shortest shelf life to longest). Whole mango_____ Seafood_____ Tinned tomatoes_____ Cooking oil_____ Q33:State at least one appropriate storage area for these specific goods. Fresh, whole eggs ____________________________ Canned products ____________________________ Cleaning chemicals ____________________________ Linen ____________________________ Q34:What is the difference between a full stocktake, cyclical stocktake and spot check? Full stocktake Cyclical stocktake Spot-check Q35:At what intervals does your organisation conduct stocktakes? Q36:State the procedures involved in a computerised stocktake. In Q37 to Q41, explain how you would use the documentation to help you create accurate stocktake reports. Q37:Stock or count sheets Q38:Count ticket Q39:Stock-taken stickers Q40:Shrinkage sheets Q41:Physical inventory form Q42:List four examples of stock maintenance records used in your workplace or training environment. Q43:What is an integrated point of sale system and how does it improve the efficiency of a stock management system? Q44:A hotel wants to identify the sales performance of their signature bathrobes. Total sales of the robes over a six-month period were $900. The value of opening stock was $2,300. The value of closing stock was $1,000. Calculate the stock’s average value Calculate the rate of stock turn What do these results mean? Q45:Organisations use several different documents and reports to order, control and administer supply of stock items. List five documents or reports you are required to maintain in your workplace or training environment. Q46:Briefly outline your designated stock-ordering responsibilities. Q47:What information are you likely to find in an organisation’s security procedures? Q48:List three key procedures your organisation or training environment has implemented to control and maintain stock. 12 2018 Edition 1 © Didasko Digital 2018www.didasko.com Bug: ID SITXINV004 CONTROL STOCK SITXINV004 CONTROL STOCK FLOW CHART SYMBOLS Symbol Name Description Start/end symbol The terminator symbol marks the starting or ending point of the system. It usually contains the word ‘Start’ or ‘End’. Action or process symbol A box can represent a single step (‘add two cups of flour’), or entire sub-process (‘make bread’) within a larger process. Document symbol A printed document or report. Decision symbol A decision or branching point. Lines representing different decisions emerge from different points of the diamond. Preparation symbol Represents a set-up to another step in the process. Connector symbol Indicates that the flow continues where a matching symbol (containing the same letter) has been placed. Arrow A line is a connector that shows relationships between the representative shapes. Flow chart example This is an example of how and when to use flow chart symbols only. Your flow chart can be presented in portrait or landscape format. It should represent the processes and procedures followed in your workplace or training organisation. 2 2018 Edition 1 © Didasko Digital 2018www.didasko.com Bug: ID SITXINV004 CONTROL STOCK – Project SITXINV004 CONTROL STOCK – Project Assessment c – Project Instructions You will require access to the learner resource for this unit, the internet and a computer. You are to answer all questions. Read each task and question carefully. Ensure you have provided all required information. Should you require ‘reasonable adjustment’ to complete this assessment, discuss the options with your assessor prior to attempting the task. Reasonable adjustment means modifications or changes that give you the same opportunities in training as a person without a disability. Your assessor will discuss the conditions of assessment, e.g., open or closed book, time limits for completion, etc., with you prior to attempting this task. To be deemed satisfactory in this task you must complete each project correctly. Your assessor will determine how many attempts you are allowed for each task/question. On completion, submit your assessment to your assessor via the LMS. Learner assessment guide and evidence This assessment requires you to prepare a stock ordering flow chart and plan and organise a stocktake. You are required to do the following. Complete Tasks 1, 2, 3 and 4. Answer all the questions. Task 1: Stock-ordering flow chart Design a flow chart of the stock-ordering process in your workplace or training environment. The flow chart should commence with how or when the need to order stock is identified and finish with the receipt, storage and allocation of stock within the organisation. Your flow chart should follow the organisation’s steps and procedures for purchasing, receiving and distributing stock. It should include the following processes and information. Identification of the need to order stock (e.g. minimum stock levels or reorder cycles) Ordering process Delivery and receipt process Allocation and distribution processes Storage requirements for specific goods Documentation to be completed Any reporting processes to be completed The flow chart can be hand-drawn or prepared using an appropriate computer software program. The flow chart can be one continuous chart or broken down into key stages of the stock control process, for example, ordering, receipt and storage, allocation and distribution. The format, symbols and text used in the flow chart to represent the sequence of events and tasks completed must be clear and easy to understand. If desired, use basic flow chart symbols to aid clarity when preparing the flow chart. Go to your ‘Course files’ and open Assessment C_Flow chart symbols for a list of basic symbols and an example of their use. Alternatively, search the internet to research symbols, their meanings and examples. Use of flow chart symbols is not an assessment requirement. If you are planning to use a specialised computer software program to draw or generate your flow