1: Answer the following questions regarding the principles of stock control. 

1.1. What is the rotation of stock? 

1.2. Explain the product life cycle. 

1.3. Discuss the methods for minimizing wastage of stock. Satisfactory response yes  no  

Q2: Answer the following questions regarding the key functions of stock control systems. 

2.1 Identify any three (3) types of stock control systems.

2.2 Explain the key functions of the following stock control systems outlined in the table below: Types of stock control systems: Functions of stock control systems. Bin cards: Integrated point-of-sale (POS) systems: Satisfactory response yes  no  

Q3: Answer the following questions regarding the organisational procedures. 

3.1. Explain the organisational procedures for order processing. 

3.2. Discuss the organisational procedures for delivery documentation. 

3.3. Discuss the organisational procedures for receiving and recording incoming stock. 

3.4. Describe the organisational procedures for reporting discrepancies or deficiencies. 

3.5. Outline the organisational procedures for stock security. Satisfactory response yes  no

Answer rating: 100% (QA)

11 Rotation of Stock Rotation of stock refers to the practice of systematically arranging and using inventory to ensure that older stock is sold or us... View the full answer