Stock control is one important facet of managing cash flow and expenditure. The need to purchase, maintain and control stock items is common to all business owners, department managers and supervisors, regardless of the size of the establishment. All departments within a business need to control stock items, which can include food, beverages, utensils, stationery, linen and cleaning products.
This unit will give you the knowledge required to understand and implement all facets of the stock control process.
Components in this Module
1 - Introduction
- Terminology and Variety
2 - Receiving, Storing and Controlling Stock
- The Importance of Stock Control
- Stock Control System Limitations
- Stock Control Cycle Overview
- Central Store
- Direct Stock Items and Inventory Stock Items
3 - Processing Stock Orders
- The Receiving Process
- Damage Control: Run Off His Feet
- Receiving Stock
- Storage Areas Resources
- Documents Associated With The Receiving Process
- Supplier Liaison
- Reality Check: Stock Levels
- Checkpoint 1
4 - Stock Storage and Rotation
- Storing Stock
- Storage Areas
- Variety of Storage Areas
- Stock Rotation
- Maintaining Storage Areas
- The Issuing of Stock
- Stock Issue Procedures
- Stock Transfer Procedures
5 - Maintaining Stock Levels
- Stock Level Maintenance
- Reality Check: Stock
- Stock Level Maintenance Techniques
- Stock Levels
- Order Size
- Checkpoint 2
- Reorder Point
- Handling Excess Stock
- Perpetual Method
- Manual Versus Computer Controls
- Manual Control Systems
- Computerised Control Systems
- Methods to Determine the Value of Stock on Hand
- Calculating the Cost of Goods Sold
- Methods of Determining Costs
- Comparison of Cost Method
- Audit Trails
Slow-Moving Stock Items
- Checkpoint 3
- Identifying and Controlling Stock Losses Pt1
- Identifying and Controlling Stock Losses Pt2
- Stock Security
- Security Concerns During Receiving
- Security Concerns During Storage
- Security Concerns During Issuing
- Security Concerns During Production, Service & Sales
- Key Control
- WHS Considerations
- Damage Control: Bad Back
- Checkpoint 4
6 - Stocktaking
- Frequency of Stocktaking
- Objectives of Stocktaking
- Stocktake Process & Planning
- Stocktake Officers
- Stocktake Forms
- Stocktake Procedures
- Manual Stocktake
- Computerised Stocktake
- Stocktake Reports
- Reality Check: Stocktake
- Damage Control: Weekend BBQ
- Damage Control: Sleepy Stocktaker
- Checkpoint 5
No previous knowledge or experience is required.
The online courses are made up of a number of learning modules. Each module has an estimated time to complete them (click on the ‘i’ next to the module to get the time).
The time to complete a module can vary based on your existing knowledge of the material.
No need to finish the course in one session. You can log in and out as many times as you like, until the course end date. The course end date is shown when entering the training. The system remembers what you have completed and you can continue on from where you left off.
How does it work?
Once we receive confirmation of your payment (which could take up to 24 hours), you will receive an email with your login details. Go to the login page which will be emailed to you. Enter your details then click on the name of the course when you are ready to start.
How do I pay?
Pay with mastercard or visa through our secure PayPal internet payment facility. You can also select to ‘Generate an Invoice’ or ‘Make An Enquiry’ and we will get back to you with a group pricing as a quote or submission for you to respond to.
Who should do this course?
These courses are for anyone who wants to learn more or wants to extend their resume by becoming more knowledgable in their company.
How will I be assessed?
Each module is broken into sections with checkpoints, interactive challenges and quiz questions throughout. You are required to go through each section and answer every question correctly to be deemed competent. If you answer any questions incorrectly, you will be given feedback on which question you answered incorrectly. You can then correct your response and continue.
Will I receive a certificate?
These are non accredited corporate-based short courses and if successful you will receive a Certificate of Completion.
Steps to proceed with enrolling in a Course
Step 1 – Select a Course(s) by adding it to the Shopping Cart.
Step 2 – Pay for the course (using Paypal).
Step 3 – Once we have received the payment we will send you an email confirming your order.
Step 4 – This email will have instructions for connecting to the course, your login ID and password.
Step 5 – Complete the online course.
Step 6 – Once the course has been successfully completed, you will have access to your certificate.