Reference no: EM132401096

SITXINV004 Control Stock Assignment

SIT40516 Certificate IV in Commercial Cookery

Ransford College, Australia

Assessment 1 -

Your task: Provide a detailed response to each of the following questions.

Question 1: List 6 examples of forms that are used in a manual control system.

Question 2: Why is it important to constantly monitor your control system?

Question 3: List 6 examples of "stock items' in the TH&E industry.

Question 4: What does collusion refer to?

Question 5: Why is it important that both the person responsible for placing orders and the ordering process must be very clear to staff?

Question 6: What is the name of the stock control method which is most commonly used in the TH&E industry and involves recording data continuously on both the amount of stock on hand and the cost price of items in the storeroom.

Question 7: Why is it necessary to identify and report on slow moving stock items?

Question 8: List 4 methods you can use to identify slow moving stock items.

Question 9: What is the consequence of placing stock orders too early?

Question 10: Give 2 examples of factors which affect the maintenance of stock levels.

Question 11: There are 6 stages to the receiving process. There are 4 listed below, name the other 2.

i. Deliveries should be checked against the purchase order to determine if the order is correct and complete.

ii. The invoice or delivery note should be signed to accept financial liability.

iii. Received goods should be moved into appropriate storage areas.

iv. Receipt documentation should be completed.

Question 12: What are the recommended storage conditions for the following stock items?

Frozen items

Meat

Seafood

Fruit and Veg

Dairy products

Chemicals

Paper

Question 13: Give 4 examples of things that can cause stock losses.

Question 14: Give 4 examples of ways to verify stock losses.

Question 15: Give 4 examples of ways to prevent stock losses.

Question 16: List 3 items a contract with a supplier may include:

Question 17: What steps should you take if you encounter a routine supply problem?

Question 18: List 3 procedures you can use for issuing stock?

Question 19: List 4 procedures of a manual stocktake:

Question 20: List 4 procedures of a computerised stocktake:

Question 21: Who usually performs the stocktake?

Question 22: List 5 pieces of information you might find on a stocktake report.

Question 23: If the cost of goods sold for Canadian Club Whiskey is $240,000 per year, and the average stock held is $10,000, what should be the re-order point for placing an order? (without considering the delivery time for this calculation)

Question 24: Give an example of a type of computerised stock control system.

Question 25: Explain the features and uses of the following stock control systems:

Bin card system

Imprest system

Integrated point-of-sale system

Ledger system

Question 26: There are several aspects which must be considered to maintain storage areas. What does this need to include for the following aspects?

Cleanliness

Lighting

Temperature

Vermin

Assessment 2- Practical Observation

Complete the following assessment tasks following the instructions provided for each task.

Task 1 - Stocktake - Calculate and submit the excel spread sheet file for Stocktake in soft copy and print and submit a hard copy, write your name, date, unit code and unit title on the print out.

Task 2 - Stocktake - Discrepancies - Calculate and submit the excel spread sheet file for Stocktake Discrepancies in soft copy and print and submit a hard copy, write your name, date, unit code and unit title on the print out. Also submit your summary report on the discrepancies and how to control these.

Task 3 - Stock Re-Ordering - Calculate and submit the excel spread sheet file for Stocktake Discrepancies in soft copy and print and submit a hard copy, write your name, date, unit code and unit title on the print out.

Task 1 - Stock Control

You have been recruited as a new assistant to the purchasing officer at the Hotel Futura. As a part of your new role you are required to perform calculations to check the accuracy of the stock records and the costs, analyse stock records and identify any discrepancies and report to your supervisor.

For this task you are provided with the following file - SITXINV004 Assessment 2 Task 1 Stocktake spread sheet file that provides you with the data on the stock.

You are provided with the following figures (highlighted in red) for the stock on hand for items. You need to enter these figures into your stocktake sheet (refer and use the above excel spread sheet) to perform calculations so that you can establish the value of the individual stock items as well as provide a total value of all stock items on hand.

Task 2 -

For this task you are provided with the spreadsheet file "SITXINV004 Assessment 2 Task 2"

The figures in these reports are different to the figures in the actual calculation spread sheet. Therefore your task is to identify and correct these discrepancies in the spread sheet.

You are required to check the data that has been entered in this spread sheet based on the latest stock report, because your supervisor has expressed concerns that there are discrepancies. These could be related to the price of the stock item or the quantity of the stock item. You need to identify the correct stock discrepancy and correct the figures so that all the figures tally with the final totals in each report.

You need to write a brief summary report to explain the potential reasons for these discrepancies and how impact on the total figures as well as the availability of these stock items in relation to maintaining and controlling stock.

1. Open the spreadsheet and identify all missing values in the opening stock column in each tab (Fridge, Freezer and Dry Store).

2. Complete the opening stock values based on any movements (Invoice = delivered, Out = used) or based on the closing stock values, i.e. if the closing value shows 5 and there were no movements, then enter 5 in the opening stock column where the value was missing. If there was a stock movement this needs to be calculated before entering the missing value in the opening stock column, i.e. if closing shows 6 and invoice shows 5, then the opening stock would have been 1. You will now notice that most entries you made have corrected the values in the discrepancy columns to 0

3. List 3 factors you would investigate where a value in the discrepancy column shows a negative.

4. Go to the tab "Fridge" and investigate the reasons for the discrepancies in Rows 8, 38, 83 and 89. Go to the tab "Dry Store" and investigate Row 65.

5. What are the likely problems that have resulted in these faults? Correct these faults according to your findings by adjusting the relevant values, if possible.

6. Go to the tab "Consolidated Total" and calculate how your adjustments from Question 5 above have affected the totals for each storage area and the total sum.

Key points to consider are:

Error in data entry (wrong numbers, decimals in wrong place, opening balance not entered, stock issued but it was actually invoice)

The following examples will assist you in your task.

Task 3 - Stocktake - Stock Re-Ordering

For this task you are provided with the spreadsheet file "SITXINV004 Assessment 2 Task 3"

You are required to enter the stock data below in to the spreadsheet and calculate the stock on hand in order to calculate the total cost that you need to spend to re-order these stock items.

Assessment 3 - Stock Control Project

You are required to order, control and administer supply for at least 6 different types of stock items, relevant to your area of work or training situation, over a stock life cycle.

During the period determined above you are required to:

1. Monitor the stock levels

2. Calculate stock ordering levels based on organisational requirements and provide documentation (attach)

3. Include one stock take after a sufficient stock turnover has occurred e.g. 1 month (attach)

4. Monitor the stock quality using the relevant documentation (attach)

5. Produce a weekly stock report (attach)

6. Identify slow moving items (attach)

7. Maintain the storage areas and produce a weekly report what this included (attach)

8. Attach all documentation and reports for the stock life cycle to this assessment.

Produce a final report reporting on the completed stock life cycle summarising any discrepancies and recommendations or future improvements.

Attachment:- Control Stock Assignment File.rar