This paper circulates around the core theme of 1. Determine stock requirements. 1.1.Use business data, forecasting methods and standard measures to calculate required stock levels. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 79. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Elements and 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.