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1. Determine stock requirements. 1.1.Use business data, forecasting methods and standard measures to calculate required stock levels.

01 / 10 / 2021 Essays & Coursework

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Unit Sector

Cross-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.

1. Determine stock requirements.

1.1.Use business data, forecasting methods and standard measures to calculate required stock levels.

1.2.Determine stock requirements for standard business periods, peak seasons and special events.

1.3.Establish cost-effective purchase quantities based on business information and supplier advice.

2. Establish optimum supply arrangements.

2.1.Evaluate quality of supply, based on feedback from colleagues and customers.

2.2.Source and review potential suppliers.

2.3.Develop appropriate and accurate purchase specifications.

2.4.Assess suppliers against specifications, considering all relevant factors.

2.5.Assess terms of purchase, and negotiate with suppliers to achieve optimum supply arrangements.

2.6.Adjust sources of supply and make accurate records of agreements.

3. Develop and implement stock control systems.

3.1.Develop stock control systems and communicate to relevant staff.

3.2.Develop special control systems for stock with high wastage or loss.

3.3.Monitor workplace systems and make adjustments according to feedback and operational experience.

3.4.Initiate training of staff to minimise stock wastage.



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