RETIC1: RETAIL (SF): INVENTORY CONTROL L1
RETAIL (SF): INVENTORY CONTROL L1
Course Duration
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/retail industry.
- Current retail 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
Stock control is crucial for a Retail 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 Retail 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 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 Retail outlet.
Course Schedule
Next available schedule
Course Objectives
Successful candidates 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 return, exchanges and/or transfers
Pre-requisites
- 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.
Good to Have:
Not Recommended: |
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
- Certificate of completion from NTUC LearningHub
Upon meeting at least 75% attendance and passing the assessment(s), participants will receive a Certificate of Completion from NTUC LearningHub.
Additional Details
Medium of Instruction & Trainer:
- Lectures and hands-on practical sessions, Group discussions and sharing, Individual and group presentations, and Role Play.
- Trainer: Trainee Ratio is 1: 20
Course Fees:
Course Fee and Government Subsidies |
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Individual Sponsored |
Company Sponsored |
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Non-SME |
SME |
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Before GST |
After GST |
Before GST |
After GST |
Before GST |
After GST |
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Full Course Fee |
$440.00 |
$479.60 |
$440.00 |
$479.60 |
$440.00 |
$479.60 |
For Singapore Citizens aged 39 years and below |
$132.00 |
$143.88 |
$132.00 |
$143.88 |
$44.00 |
$55.88 |
For Singapore Citizens aged 40 years and above |
$44.00 |
$55.88 |
$44.00 |
$55.88 |
$44.00 |
$55.88 |
Funding Eligibility Criteria:
Individual Sponsored Trainee |
Company Sponsored Trainee |
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Remarks:
Individual Sponsored Trainee |
Company Sponsored Trainee |
SkillsFuture Credit:
UTAP:
PSEA:
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Absentee Payroll (AP) Funding:
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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.
Batch ID | Course Period | Course Title | Funding Available |
Duration (Hours) |
Session (Hours) |
Venue | Available Seats |
Online Payment |
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