Chapter Name: Procure goods
Description:This chapter outlines the procurement process, including selecting suppliers, negotiating terms, and purchasing goods for the business.
Purpuse:To enable businesses to procure quality goods at competitive prices, ensuring stock availability and profitability.
Rational:Effective procurement ensures a consistent supply of products, reduces costs, and supports inventory management, which is essential for the smooth operation of the retail business.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Identify suppliers to procure goods from
Find reliable suppliers who offer quality products at reasonable prices.
Key Requirement 2: Negotiate the prices, payment terms and delivery options
Negotiate cost, delivery timelines, and payment agreements.
Key Requirement 3: Decide ordering quantities and frequency
Decide how much and how often to order stock to meet customer demand.
Key Requirement 4: Prepare the appropriate storage facilities to use
Ensure suitable and safe storage areas for goods.
Key Requirement 5: Procure the goods and process the payment
Purchase stock and ensure payment is completed.
Key Requirement 6: Receive the delivery, check for correctness and place in storage facilities
Check incoming stock and place it in designated storage areas.
Key Requirement 7: Replenish the shelves through a structured stock control process using appropriate internal templates such as stock sheets
Refill shop shelves based on stock records and sales.
Key Requirement 8: Update the stock inventory
Keep digital or manual records of stock up to date.
Assessment Questions
Assessment 1 : Suppliers from which goods can be procured are identified
Learner must research or select appropriate suppliers.
Assessment 2 : Prices, payment terms and delivery options are negotiated
Learner must simulate or demonstrate negotiation skills with suppliers.
Assessment 3 : Decisions are made on ordering quantities and frequency
Learner must determine how much stock to order and how often.
Assessment 4 : Appropriate storage facilities to use, are prepared
Learner must choose or describe suitable storage for goods.
Assessment 5 : Goods are procured and payment is processed
Learner must complete a purchase and record the payment.
Assessment 6 : The delivery is received, checked for correctness and placed in storage facilities
Learner must inspect and store incoming goods.
Assessment 7 : The shelves are replenished through a structured stock control process using appropriate internal templates such as stock sheets
Learner must restock shelves using documented procedures.
Assessment 8 : The stock inventory is updated
Learner must reflect all recent stock movements in inventory.