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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Discuss the role of stocktaking in ensuring inventory accuracy 
SAQA US ID UNIT STANDARD TITLE
377362  Discuss the role of stocktaking in ensuring inventory accuracy 
ORIGINATOR
SGB Manufacturing and Assembly Processes 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 06 - Manufacturing, Engineering and Technology Manufacturing and Assembly 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03  5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is required by people working in the manufacturing environment who need to know why stocktaking is performed, and to use the variety of stocktaking processes to check stock. They will also be able to perform stock reconciliation.

Learners credited with this unit standard are able to:
  • Discuss the reasons why stocktaking is performed.
  • Discuss periodic stocktaking.
  • Discuss perpetual stocktaking.
  • Explain the control group approach to stocktaking.
  • Discuss stock reconciliation. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • Mathematical Literacy at NQF Level 3.
  • Communication at NQF Level 3. 
    		•

    UNIT STANDARD RANGE 
    Alternative methods for maintaining inventory could be: visual review systems; two-bin system; four-wall systems; and back flushing. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Discuss the reasons why stocktaking is performed. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The time and location to perform stocktaking are discussed using examples. 

    ASSESSMENT CRITERION 2 
    The steps to be taken in preparation for stocktaking are described according to procedures. 
    ASSESSMENT CRITERION RANGE 
    Basic steps: preparation of the area involving various steps; preparing for the count including several phases.
     

    ASSESSMENT CRITERION 3 
    The purposes of performing stocktaking are described and compared to types of stocktaking using given problem areas. 

    ASSESSMENT CRITERION 4 
    The reasons why stock accuracy figures are an integral part of managing a company's investment in inventory is explained using raw data. 

    ASSESSMENT CRITERION 5 
    The stocktaking methods are listed, the frequency of stocktaking recorded and purposes evaluated using raw data of a company. 

    SPECIFIC OUTCOME 2 
    Discuss periodic stocktaking. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The fundamental principles of physical stocktaking are explained in line with Operations Management Body of Knowledge (OMBOK). 

    ASSESSMENT CRITERION 2 
    The roles of various players in performing stocktaking are described according to procedures. 

    ASSESSMENT CRITERION 3 
    The importance of effective planning for conducting physical stocktaking is explained in line with Operations Management Body of Knowledge (OMBOK). 

    ASSESSMENT CRITERION 4 
    The process of physical stocktaking is explained according to procedures. 

    ASSESSMENT CRITERION 5 
    The various ways of valuing a company's year-end inventory holding is evaluated according to procedures. 

    ASSESSMENT CRITERION 6 
    The value of year-end stocktaking is described using a number of different inventory valuation methods. 
    ASSESSMENT CRITERION RANGE 
    Inventory valuation methods are fist in first out (FIFO); average price method (AVCO); specific or unit price; standard price; and replacement cost systems.
     

    ASSESSMENT CRITERION 7 
    The prescribed procedures for conducting a periodic inventory count are compared critically with procedures applied by a selected company. 

    SPECIFIC OUTCOME 3 
    Discuss perpetual stocktaking. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The fundamental principles of perpetual stocktaking are described in line with Operations Management Body of Knowledge (OMBOK). 

    ASSESSMENT CRITERION 2 
    Physical stocktaking is contrasted critically with perpetual stocktaking in terms of advantages and disadvantages. 

    ASSESSMENT CRITERION 3 
    The count frequency for a range of stock items is determined according to procedures using raw data. 

    ASSESSMENT CRITERION 4 
    The process of conducting a wall-to-wall cycle count is described according to procedures. 

    ASSESSMENT CRITERION 5 
    The purpose of setting realistic accuracy targets for various categories of inventory when determining stock accuracy figures is explained using given examples. 

    ASSESSMENT CRITERION 6 
    Possible causes of errors when conducting stocktaking are evaluated using given examples. 

    ASSESSMENT CRITERION 7 
    The errors that occurred during an inventory exercise are documented and remedies proposed using raw data of a company. 

    SPECIFIC OUTCOME 4 
    Explain the control group approach to stocktaking. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The importance of the correct selection of items to be included in control-group stocktaking is described according to procedures. 

    ASSESSMENT CRITERION 2 
    The six-step approach to conducting a control-group count is explained according to procedures. 

    ASSESSMENT CRITERION 3 
    The use of control group count is discussed in line with Operations Management Body of Knowledge (OMBOK). 

    ASSESSMENT CRITERION 4 
    The benefits to a company using a control-group count process are described in line with Operations Management Body of Knowledge (OMBOK). 

    ASSESSMENT CRITERION 5 
    Various problem-solving tools used during the investigation phase are explained and applied according to procedures. 
    ASSESSMENT CRITERION RANGE 
    Problem-solving tools are cause and effect analysis; pareto analysis; relative frequency chart; run charts; frequency histogram; and flow charts.
     

    ASSESSMENT CRITERION 6 
    A control-group stocktaking is performed, results documented with recommendations for improvement using raw data from a selected company. 

    SPECIFIC OUTCOME 5 
    Discuss stock reconciliation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The importance of stock reconciliation is explained using given examples. 

    ASSESSMENT CRITERION 2 
    The costs of inaccurate records are described using given data. 

    ASSESSMENT CRITERION 3 
    The benefits of maintaining inventory integrity is discussed in line with Operations Management Body of Knowledge (OMBOK). 

    ASSESSMENT CRITERION 4 
    The process for dealing with identified areas of excess inventory is discussed according to procedures. 

    ASSESSMENT CRITERION 5 
    A number of alternative methods for maintaining inventory integrity is outlined in line with Operations Management Body of Knowledge (OMBOK). 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard must be accredited as a provider through the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Stocktaking.
  • Periodic stocktaking.
  • Perpetual stocktaking.
  • Control group approach to stocktaking.
  • Stock reconciliation. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems and make decisions using critical and creative thinking in ensuring inventory accuracy. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as members of a team and no one's responsibility in the work environment to make the workplace more productive in ensuring inventory accuracy. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organize and critically evaluate information in ensuring inventory accuracy. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicating effectively using visual, mathematical and/or language skills in the modes of oral and/or written presentations when reporting on inventory accuracy. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  83946   National Certificate: Management  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2023-07-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.