Assessment Answers for SITXINV004 - Control Stock

SITXINV004 is a unit that forms part of the SIT40516 Certificate IV in Commercial Cookery. It includes the skills and knowledge needed to manage stock control processes in a commercial kitchen or catering operation. The unit covers receiving and storing goods, stock rotation and stocktaking, and inventory management.

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Ques1: List 6 examples of “stock items’ in the TH&E industry.

Ans. The TH&E (Tourism, Hospitality & Events) industry stock items are kept in stock and used regularly. Examples of stock items in the TH&E industry include food and beverages such as coffee, tea, sugar, milk, bread, butter, cheese, meat, fish, vegetables, fruit, soft drinks, beer, wine, and spirits.

Ques2: List three examples of forms that are used in a manual control system

Ans. Forms used in manual control systems are documents that are used to record information and ensure that procedures are followed correctly. Examples of forms used in manual control systems include the sign-off document, the bank reconciliation form, and the privacy policy acknowledgment form.

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Ques3: Why is it important to constantly monitor your control system?

Ans. Continually monitoring your control system is essential because it helps you identify problems early and take corrective action before they become significant. Monitoring your control system also helps you ensure it operates efficiently and effectively and meets your business objectives.

Ques4: What does collusion refer to?

Ans. Collusion occurs when entities or individuals work together to influence markets or pricing for their benefit. The acts of collusion include price fixing, simultaneous advertising, and sharing of inside information. Antitrust and whistleblower laws help prevent collusion.

Ques5: Give an example of one type of computerized stock control system.

Ans. Barcoding systems speed up processing and recording. You can print bar codes from your computer and read them with the software. Radio Frequency Identification (RFID) enables the tracking of individual products or components throughout the supply chain.

Ques6: What steps should you take if you encounter a routine supply problem?

Ans. If you face regular supply problems, you should take the following steps:

• Identify the problem and its cause.
• Determine the impact of the problem on your business.
• Develop a plan to solve the problem.
• Execute the plan.
• Monitor the status to make sure the issue is resolved.

Ques7: What are the consequences of placing a stock order too early?

Ans. The sooner the order is placed in the queue, the higher the order will be placed at that price, and if the asset trades at the buy limit price, the more likely the order will be filled. Buying limit orders can also result in missed opportunities.

Ques8: Why is it necessary to identify and report slow-moving stock items?

Ans. Having the visibility to identify slow-moving inventory is equally important as it helps avoid spoilage, waste, and unnecessary costs. Limiting the amount of rarely used materials also frees up space to store larger quantities of the materials you regularly use to craft your most revenue-generating items.

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