Stock Procurement in the Retail Industry
Course Purpose The qualifying learner is capable of: Sourcing suppliers of stock. Negotiate acceptable and profitable purchasing conditions. Develop relationships that will ensure an effective supply of stock to the business. On achievement of this unit standard, the learner will …
Overview
Course Purpose
The qualifying learner is capable of:
- Sourcing suppliers of stock.
- Negotiate acceptable and profitable purchasing conditions.
- Develop relationships that will ensure an effective supply of stock to the business.
On achievement of this unit standard, the learner will be able to establish sources of stock supply, issue an order for stock replenishment, negotiate conditions for the procurement of stock, and evaluate current suppliers against negotiated standards for an online course.
What you’ll learn
The qualifying learner is capable of sourcing suppliers of stock, negotiate acceptable and profitable purchasing conditions, and develop relationships that will ensure effective supply of stock to the business. On achievement of this unit standard, the learner will be able to establish sources of stock supply, issue an order for stock replenishment, negotiate conditions for the procurement of stock and evaluate current suppliers against negotiated standards.
Duration: 1 Day
Curriculum
Curriculum
- 4 Sections
- 15 Lessons
- 1 Day
- Unit 1: Establish sources of stock supplyASSESSMENT CRITERIA3
- 1.1Stock is sourced by listing suppliers and indicating what stock can be obtained from whom and under what supply agreement/conditions
- 1.2The organisation’s policy/practice on supplier specifications is stated and explained with reference to the minimum criteria
- 1.3The vetting and approval of suppliers are explained with reference to company policy and procedure
- Unit 2: Issue an order for stock replenishmentASSESSMENT CRITERIA4
- 1.1The organisation’s purchasing policy/procedure is explained in terms of how it is applied
- 1.2The purchasing documentation is identified and verified according to policies and procedures
- 1.3The purchasing documentation for the acquisition of stock is prepared according to company policies and procedures
- 1.4The organisation’s policy and procedure on stock movements are explained in terms of how it is applied
- Unit 3: Negotiate conditions for the procurement of stockASSESSMENT CRITERIA4
- 1.1Policies and procedures negotiate a supply of stock
- 1.2Minimum stock levels are calculated
- 1.3A purchase condition is negotiated in compliance with company purchasing policies and procedures
- 1.4Relationships with suppliers are explained in terms of the importance thereof and the results it has on sales
- Unit 4: Evaluate current suppliers against negotiated standardsASSESSMENT CRITERIA4
- 1.1The process/procedure for monitoring and evaluating current suppliers is described
- 1.2Current suppliers are evaluated according to standard procedures and regarding their supplier specifications and performance
- 1.3The procedure to monitor current suppliers according to standard procedures is explained regarding their supplier specifications and performance
- 1.4Recommendations concerning the acceptance/rejection of stock from a current supplier are made per company procedures and based either on a monitoring or evaluation activity
Requirements
- Grade 11
- NQF Level 3
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Course Features
- Lectures 15
- Quiz 0
- Duration 1 day
- Skill level All levels
- Language English
- Students 1095
- Assessments Yes