Professional Documents
Culture Documents
NOS 105
Learning to Display Stock
NOS 105
Learning to Display Stock
1. Delivery of Stock
3. Display Stock
4. Rotating Stock
5. Participating in stock-takes
6. Reordering Stock
7. Damaged Stock
Stock Pricing–After
recording new stock, the
stock needs to be priced
(Sale Price) so it can be put
out on the shelves to be
sold
Stock Display–Once
required, the goods need to
be displayed in the shelves
Things to take care of while
displaying
Check Quantity and
Quality of Goods to
display
Remove Damaged Stock
Inform about Missing
Stock
Clean the stock and the
shelves before display
Stock Display Stock Rotation Stock Take Stock Re-ordering Damaged Stock
A. Delivery of Stock
Purchase Order
The next step is to confirm that these goods were actually
• A purchase order (PO) is a commercial document and
ordered and that every item ordered has been delivered. first official offer issued by a buyer to a seller, indicating
types, quantities, and agreed prices for products or
When a delivery arrives, the driver will present a delivery services the seller will provide to the buyer
docket with the goods. • It is used to control the purchasing of products and
services from external suppliers
The Store Personnel needs to check that the store and • Acceptance of a purchase order by a seller usually forms
address on the delivery docket are correct. a contract between the buyer and seller, so no contract
exists until the purchase order is accepted
Then the number of cartons received must correspond with
the number of cartons on the delivery docket. Invoice
The Store Personnel should also count the cartons before • An invoice or bill is a commercial document issued by a
signing for the delivery seller to a buyer, indicating the products, quantities,
and agreed prices for products or services the seller has
Goods that have been unpacked need to be checked against provided the buyer
the purchase order and invoice • Payment terms are usually included on the invoice
• The buyer could have already paid for the products or
If the information in the purchase order matches the services listed on the invoice.
• Buyer can also have a maximum number of days in
information in the invoice, the store can pay the supplier. If which to pay for these goods and is sometimes offered a
not, then the store needs to withhold payment and inform discount if paid before the due date.
the supplier.
Sample : Purchase
Order
O When the goods have been priced they can be stored immediately in the
reserve, unless special requirements apply. Each department has its own storage
Damaged Stock
area within the reserve.
• Any stock that has been damaged during transportation,
Fragile goods must be given adequate storage space to or is not adequate as per quality norms of the store
prevent breakages.
Requisition Form
Once goods are finalized, goods that have been received
and ticketed must be recorded on the store stock system.
• Form filled by store employees to request stock from the
This will ensure that accurate stock records are kept at all reserve area to be displayed in the store shelves
times. Stores will either record these stock levels
electronically or in a stock book
Cost Price
After recording new stock in the store stock system, it
needs to be priced so it can be put out on the shelves to be • The Cost Price includes:
sold • the cost of the goods
• less any discounts from the supplier
The Selling Price of a product is determined by adding the • Plus freight charges
Markup to the Cost Price of the product. (You may have to
add the Goods and Services Tax if this tax applies to the Mark-Up
product)
• The Mark up includes:
The Goods and Services Tax (GST) is collected by retail • a percentage of your store's operating costs
• Plus a profit
stores on behalf of the government. The GST is 10% of the
selling price. It is added to many goods to determine the Mark-Down
final Selling Price that goes on the ticket
After the final price has been calculated, one needs to label • The Mark down includes:
• a percentage of your store’s selling price
the merchandise. • Minus a discount
Some stores have an individual price ticket for each item. Price Labels and Bar
Other stores use barcodes on the merchandise so that the Codes
price is displayed on the shelf ticket • A label is a piece of paper or other material affixed to an article, on which is
printed a legend, information concerning the product, addresses, etc.
• A barcode is an optical machine-readable representation of data relating to
the object to which it is attached. Originally barcodes systematically
represented data by varying the widths and spacing of parallel lines
Once the goods have been priced and ticketed they will
Requisition Form
need to be put on the floor for selling, or stored in an
appropriate place.
• Form filled by store employees to request stock from the
These things need to be considered when storing goods: reserve area to be displayed in the store shelves
o Easy access by sales staff.
o Occupational Health and Safety issues.
O The amount of room available.
If the goods are stored in a reserve, they will need to be
retrieved easily when required.
Staff must complete a Requisition Form before stock is
dispatched from the reserve to the department. This will
ensure that:
O stock is accounted for at all times to avoid theft
O the goods are dispatched to the correct department
O Accurate stock figures are provided
C. Display of Stock
D. Stock Rotation
One must follow the FIFO system of stock rotation. That • Document to discuss on various FIFO Principles
means the goods that are first into the store must also be
the first to go out of the store with the customer. Check all
dates before you put stock onto the fixtures
E. Stock Take
Shrinkage
• Shrinkage is loss of stock in the retail stores. This can
happen for various reasons in the store including theft,
wrongly priced items, damaged goods etc..
F. Re-Ordering Stock
G. Dispatching Goods