WSQ RETAIL (SF): INVENTORY CONTROL (PERFORM STOCK CONTROL FOR RETAIL OPERATIONS)

WSQ RETAIL (SF): INVENTORY CONTROL (PERFORM STOCK CONTROL FOR RETAIL OPERATIONS)

Funded

Course Duration

16.0 hr(s)

Mode of Assessment

Assessment is to be conducted under SSGs current standards for the specific framework. There are 2 assessment methods in this module:

  • Written Assessment
  • Role Play

Who Should Attend

  • Trainees who have interest in setting up their own business, especially in the e-commerce/f&b industry
  • Current online business owners who want to enhance their knowledge and skills
  • Mid-life PMEs who want to own their own business and have a career change

Course Overview

Ecommerce

Effective inventory control is about selecting the right products, ensuring optimal inventory level for sales. This is essential to the profitability and sustainability of running your business crucial for business on the e-platform.

There is a need to balance having enough stocks to meet orders from customers and minimise overstocking to incur high cost. Maintain the right inventory level to meet online orders and to avoid stock out situations are challenges in inventory control.

F&B

Stock control is crucial for any F&B outlet. It may make or break a business. The practice of effective inventory control includes the selection of the right products, ensuring optimal inventory level to achieve targeted sales, is crucial for survival and growth.

Projecting the right stock level means having optimal stocks to meet food and beverage orders. Understocking can lead to higher costs in lost sales and disappointed customers who may lose trust in the outlet. Overstocking would risk high wastage with spoilage in the perishables, not to mention the finance tied up that cannot be liquidated fast enough.

Maintaining the correct inventory level to meet customer orders for prepared and ready food items as well as beverages and ensuring that stock out situations do not occur are challenges in the control of inventory. Thus, effective inventory control is one of the key elements underpinning the success of any F&B outlet.

Next available schedule

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Course Objectives

Upon completion of this course, you will be able to:

  • Receive, check and handle incoming products
  • Report discrepancies
  • Record details of incoming stocks, stock discrepancies and relevant documents
  • Sort, label and store products
  • Perform routine stock rotation of products
  • Order stocks
  • Conduct stocktaking and/or cyclical counts
  • Handle undelivered orders, stocks returns, exchanges and/or transfers

Learners will be able to state/describe the following:

  • Types of stocks and/or merchandise in the stores
  • Procedures available for receiving, checking, handling, ordering and returning of products
  • Procedures available for handling stock discrepancies and stock transfers
  • Legal requirements relating to receiving and storing of products
  • Quality standards for products
  • Types of documents when receiving and storing products
  • Procedures for labelling, tagging and signage for products
  • Standards for display of products

Pre-requisites

These are the admission requirements:

  • Speak, Listen, Read and Write English at WPL Level 4 or equivalent
  • Manipulate numbers at WPN Level 4 or equivalent

Course Outline

This contextualised course aims to equip you with the knowledge and skills to manage the receipt, dispatch and storage of merchandise as well as monitor and maintain stock control and the purchase of stocks.

The course is structured that the learner progresses from the stage of receiving and processing products to the final stage of preparing and delivering products. The learning builds from simple inventory concepts like receiving products to more complex concepts like stocktaking.

Certificate Obtained and Conferred by

SSGs Statement of Attainment (SOA) will be awarded to learners who have achieved 75% attendance and are Competent (PASS) in their assessment.

Fees and Funding

Price

  Individual Sponsored Non-SME SME
  w/o GST w GST w/o GST w GST w/o GST w GST
Original Course Fee  $440.00  $470.80  $440.00  $470.80  $440.00  $470.80
Singapore Citizens & PRs aged 21 years and above  $168.00  $198.80  $168.00  $198.80    
Singapore Citizens aged 40 years and above  $44.00  $74.80  $44.00  $74.80    
             
After Enhanced Training Support for SMEs Companies (90%) **          $44.00  $74.80

Course reference code in SkillsConnect:

  • For Training Grant application, please use the following reference code

Reference code: CRS-Q-0035472-RET

Terms and conditions apply. NTUC LearningHub reserve the right to make changes or improvements to any of the products described in this document without prior notice.

Prices are subject to other LHUB miscellaneous fees.

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