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

See All Schedules

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
  • Hardware & Software
    This course will be conducted as a Virtual Live Class (VLC) via Zoom platform. Participants must own a zoom account and have a laptop or a desktop with “Zoom Client for Meetings” installed. This can be downloaded from https://zoom.us/download

System Requirement

Must Have:

Please ensure that your computer or laptop meets the following requirements.

  • Operating system: Windows 10 or MacOS (64 bit or above)
  • Processor/CPU: 1.8 GHz, 2-core Intel Core i3 or higher
  • Minimum 20 GB hard disk space.
  • Minimum 8 Gb RAM
  • Webcam (The camera must be turned on for the duration of the class)
  • Microphone
  • Internet Connection: Wired or Wireless broadband
  • Latest version of Zoom software to be installed on computer or laptop prior to the class.

Good to Have:

  • Wired internet connection
    Wired internet will provide you with stable and reliable connection.
  • Dual monitors
    Using a dual monitor setup will undoubtedly improve your training experience, enabling you to simultaneously participate in hands-on exercises and maintain engagement with your instructor.

Not Recommended:

Using tablets is not recommended due to their smaller screen size, which could cause eye strain and discomfort over the course of the program's duration.

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

Statement of Attainment (SOA) from SkillsFuture Singapore (SSG)

Additional Details

Price:

Course Fee and Government Subsidies

  

Individual Sponsored 

Company Sponsored 

 

Non-SME 

SME 

Before GST 

With GST 

Before GST 

With GST 

Before GST 

With GST 

Full Course Fee
(For Foreigners and those not eligible for subsidies)

$440.00

$479.60

$440.00

$479.60

$440.00

$479.60

For Singapore Citizens aged 39 years and below
and
For all Singapore Permanent Residents
(The minimum age for individual sponsored trainees is 21 years)

$220.00

$259.60

$220.00

$259.60

$132.00

$171.60

For Singapore Citizens aged 40 years and above

$132.00

$171.60

$132.00

$171.60

$132.00

$171.60

Funding Eligibility Criteria:

Individual Sponsored Trainee

Company Sponsored Trainee
  • Singapore Citizens or Singapore Permanent Residents

  • From 1 October 2023, attendance-taking for SkillsFuture Singapore's (SSG) funded courses must be done digitally via the Singpass App. This applies to both physical and synchronous e-learning courses

  • Trainee must achieve at least 75% attendance
  • Trainee must pass all prescribed tests / assessments, and attain 100% competency
  • NTUC LearningHub reserves the right to claw back the funded amount from trainee if he/she did not meet the eligibility criteria
  • Singapore Citizens or Singapore Permanent Residents

  • From 1 October 2023, attendance-taking for SkillsFuture Singapore's (SSG) funded courses must be done digitally via the Singpass App. This applies to both physical and synchronous e-learning courses

  • Trainee must achieve at least 75% attendance
  • Trainee must pass all prescribed tests / assessments, and attain 100% competency
  • NTUC LearningHub reserves the right to claw back the funded amount from the employer if trainee did not meet the eligibility criteria

 

Remarks:

Individual Sponsored Trainee 

Company Sponsored Trainee 

SkillsFuture Credit: 

  • Eligible Singapore Citizens can use their SkillsFuture Credit to offset course fee payable after funding.

UTAP: 

  • This course is eligible for Union Training Assistance Programme (UTAP).
  • NTUC members can enjoy up to 50% funding (capped at $250 per year) under UTAP. 

PSEA: 

  • To check for Post-Secondary Education Account (PSEA) eligibility for this course, visit:
    (a)     SkillsFuture (TGS-2018502134) for Virtual Learning Class (VLC)
    (b)     SkillsFuture (TGS-2020505675) for Face-to-Face class
  • Scroll down to “Keyword Tags” to verify for PSEA eligibility. 
  • If there is “PSEA” under keyword tags, the course is eligible for PSEA.  
  • And if there is no “PSEA” under keyword tags, the course is ineligible for PSEA. 
  • Not all courses are eligible for PSEA funding.

Absentee Payroll (AP) Funding: 

  • $4.50 per hour, capped at $100,000 per enterprise per calendar year.
  • AP funding will be computed based on the actual number of training hours attended by the trainee.
  • Note: Courses / Modules under Professional Conversion Programme (PCP) will not be eligible for AP funding claim. 

 

Terms & 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.

What Others Also Enrolled In

Funded

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

View detail
Before Funding $440.00
View detail
Funded

WSQ RETAIL (SF): VISUAL MERCHANDISING PRESENTATION (HANDLE MERCHANDISE DISPLAY)

View detail
Before Funding $440.00
View detail