Reference no: EM132407709

SITXINV004 Control stock, SIT40516 Certificate IV in Commercial Cookery, Ransford College, Australia

1. Assessment 1-Assignment

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.

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

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

• Received goods should be moved into appropriate storage areas.

• 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

2. Assessment 2-Practical Observation

ASSESSMENT INSTRUCTIONS

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.

3. 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.

The stock life cycle has to be determined in conjunction with your trainer:

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

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

4. Monitor the stock quality using the relevant documentation

5. Produce a weekly stock report

6. Identify slow moving items

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

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 (suitable to present to your colleagues)