Class 9 Elective Retail Chapter 3 Stock Levels in Storage

Class 9 Elective Retail Chapter 3 Stock Levels in Storage Question answer to each chapter is provided in the list so that you can easily browse throughout different chapters SEBA Class 9 Elective Retail Chapter 3 Stock Levels in Storage Notes PDF and select need one.

Class 9 Elective Retail Chapter 3 Stock Levels in Storage

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Also, you can read the SCERT book online in these sections Solutions by Expert Teachers as per SCERT (CBSE) Book guidelines. These solutions are part of SCERT All Subject Solutions. Here we have given Assam Board Class 9 Elective Retail Chapter 3 Stock Levels in Storage Solutions for All Subject, You can practice these here.

Stock Levels in storage

Chapter – 3

A. Fill in the Blanks:

1. Everything which is used to make products, provide services and to run business is part of _____________.

Ans: Stock.

2. ____________ level provides a steady supply of products to satisfy customer needs.

Ans: Minimum.

B. Multiple Choice Questions:

1. Stock ledger is ___________.

(a) used to track the amount of stock.

(b) bill of century.

(c) Both a) and b)

(d) None of the above.

Ans: (a) used to track the amount of stock.

2. Bin card is a document _______________.

(a) used in warehouse.

(b) used in inventory.

(c) Both (a) and (b)

(d) None of the above.

Ans: (a) used in warehouse

3. Minimum Stock level means _____________.

(a) quantity not necessary.

(b) quantity must be maintained in hand all times.

(c) quantity at certain level.

(d) None of the above.

Ans: (b) quantity must be maintained in hand all times.

4. Danger Level means _______________.

(a) accurate level.

(b) replenish stock .

(c) below stock level.

(d) None of the above.

Ans: (a) accurate level.

5. Store Operations Assistant’s work is to ______________.

(a) constantly Observe the stock levels.

(b) no need to Observe.

(c) observe once in a year.

(d) None of the above.

Ans: (a) constantly Observe the stock levels.

6. Stock means _____________.

(a) making products and store into warehouse.

(b) any services.

(c) make products, provide services to run business.

(d) None of the above.

Ans: (c) make products, provide services to run business.

C. State whether the following are True or False:

1. Reordering level lies between minimum level and maximum level.

Ans: True.

2. The stock levels are also called inventory control.

Ans: False.

3. A lack of items in a store forces the customers to look elsewhere.

Ans: True.

4. A bin card is a software that tracks the amount of stock or inventory. 

Ans: True.

5. Stock levels are not required for an efficient and effective control of material.

Ans: False.

6. Under-stocking may lead to dissatisfaction of customers.

Ans: Ture.

7. When quantity of goods is not available till a certain level then a fresh order is sent.

Ans: Ture.

8. Stock level refers to the different levels of stock which are required for an efficient and effective control of goods.

Ans: Ture.

D. Short Answer Questions:

1. The stock level of goods should be as low as possible but at the same time be available when required. How is this done?

Ans: Maintaining a low stock level while ensuring availability is achieved through techniques such as just-in-time inventory, demand forecasting, safety stock, strong supplier relationships, inventory optimization, and analysis.

2. What are the types of stock levels?

Ans: There are four types of stock levels: they are-

(i) Minimum stock levels: It is the minimum level of goods that should be maintained by retail to avoid customer dissatisfaction. 

(ii) Maximum stock level: It is the maximum level of goods that is maintained by a retail store. 

(iii) Re-order level: When the quantity of goods reach a certain level then a fresh order is sent to procure new products. 

(iv) Danger level: If the stock touches danger levels, then immediate action should be taken to maintain the stocks even if additional cost is incurred in arranging the required. goods.

3. How is the stock level accurately managed?

Ans: Perpetual stock management: this system relies on electronic tracking and POS systems to record and track inventory on a continual basis. Whilst this is a more expensive system than physical inventory counts, it gives a more accurate and up-to-date indication of stock levels and removes the risk of human error.

E. Check Your Performance:

1. Demonstrate the base stock level, minimum stock level and how to maintain stock levels and prepare stock records.

Ans: The base stock level, minimum stock level and how to maintain stock levels and prepare stock records are-

(i) Base level: Ideal stock amount to avoid stockouts or overstocking.

(ii) Minimum level: Trigger point to reorder before running out. It’s typically set above the base stock level to allow for lead time in ordering and delivery.

(iii) Maintain levels: To maintain stock levels, regularlyTrack inventory, reorder at set point (minimum level + lead time), adjust levels based on sales data.

(iv) Stock records: Track product info, stock levels, reorder points, sales/purchase history.

A. Fill in the Blanks:

1. Stock can be checked using a portable electronic ___________ device or by a manual count.

Ans: Scale.

2. Goods received are checked against the amount and description stated on the ___________.

Ans: Delivery note.

3. ____________ note lists what is sent through the private carrier actually.

Ans: Consignment.

4. Many Retailers today use special ___________ for receiving of goods.

Ans: Computer system.

B. Multiple Choice Questions:

1. The purpose of document handling is ___________.

(a) to save time.

(b) safety of goods.

(c) prevent conditions of goods from worsening.

(d) matching with required.

Ans: (d) matching with required.

2. Documents which are required in receiving goods are _____________.

(a) delivery report.

(b) bill.

(c) tax bill.

(d) All (a), (b) and (c)

Ans: (d) All (a), (b) and (c)

3. What is the main advantage of effective goods moving?

(a) Better control of the flow of goods.

(b) Unimproved working conditions.

(c) Achieve increased storage requirement.

(d) All (a), (b) and (c)

Ans: (a) Better control of the flow of goods.

4. Manual moving task includes ___________.

(a) taking cartons on and off pallets.

(b) moving mobile racks.

(c) moving trolleys and cleaning floors and shelves.

(d) All (a), (b) and (c)

Ans: (d) All (a), (b) and (c)

5. Reducing number of times the object is handled is known as ____________.

(a) changing the size of packaging.

(b) providing suitable equipment. 

(c) climinating double handling.

(d) providing a safe workplace lavout.

Ans: (c) climinating double handling.

C. State whether the following are True or False.

1. Invoices are normally sent with the load of goods.

Ans: True.

2. The more sophisticated electronic systems may also include an automatic reorder function.

Ans: True.

3. Consignment notes sent through computer are not considered as a proof of delivery.

Ans: False.

4. Automated systems cut down on paper work and are very quick in image checking and transferring information.

Ans: True.

D. Short Answer Questions:

1. Why is documentation necessary in handling goods?

Ans: Documentation in handling goods is necessary for legal compliance, tracking, risk management, communication, and financial control in the supply chain. It ensures adherence to regulations, enables tracking of goods, mitigates risks, facilitates communication between stakeholders, and helps manage financial transactions efficiently.

2. What are the elements to be considered while documentation?

Ans: When documentation consider accuracy, clarity, completeness, consistency, relevance, organization, accessibility, version control, security, and compliance.

3. What is the procedure to check stock levels?

Ans: In the process of checking stock levels of different products in a retail store, if any variations or problems are identified, store operations assistant must be reported to the competent authority.

4. What are the major documents in goods handling?

Ans: documents are usually prepared while stock handling-

(a) Delivery note: A delivery note is usually supplied with the goods at the time of delivery. It states what the supplier has actually delivered to the store. 

(b) Invoice: Invoice is a legal document that is used at the time of dispatching and delivering the goods to customer  The invoice contains all the information about the goods like the quantity and nature of goods. 

(c) Consignment note: The consignment note is used when the delivery is out to a private cartier. It shows what goods are and issued by carrier for delivery. It is a record of what has actually been sent through the private carrier. It shows the number of containers. boxes, bales or bags of goods, etc. 

E. Check Your Performance:

1. Demonstrate how to prepare the list of documents required for stock handling.

Ans: The list of documents required for stock handling. 

They are- 

(i) The stock is sorted as per per the retail store’s requirements.

(ii) The stock is recorded as per the retail store’s procedures.

(iii) The stock is then checked as per the required documentation.

(iv) The difference between actual stock received and invoiced/ordered stock are identified and reported according to the retail store procedures.

(v) The relevant documentation is completed as per the retail store procedures.

(vi) The retail organisation systems for receiving and maintaining stock levels must be appropriate.

(vii) Goods should be available when required.

(viii) Goods must be fit for use/ready to use.

(ix) The method employed is cost effective and wastage is minimum.

A. Fill in the Blanks:

1._____________ indicates where merchandise and customer service departments are located.

Ans: Floor plan.

2. The walls are one of the most important elements of a _____________.

Ans: Space allocation.

3. There are ____________ types of floor needs in a store.

Ans: Five.

4. ____________  must be given to dressing rooms, layaway areas, service desks, and other customer service facilities.

Ans: Aisles space.

B. Multiple Choice Questions:

1. Floor Plan indicate(s)

(a) location point

(b) merchandise & customer service location.

(c) plan of store.

(d) None of the above.

Ans: (b) merchandise & customer service location.

2. Space allocation of a store can be based on ______________.

(a) mathematical calculation.

(b) type of Merchandise.

(c) available portion.

(d) None of the above.

Ans: (a) mathematical calculation.

3. Back Room means ______________.

(a) a receiving area to process.

(b) an area for training.

(a) service area.

(d) None of the above.

Ans: (a) a receiving area to process.

4. Office space means ______________.

(a) a space used for functional use

(b) other area

(c) offices for the manager

(d) Any others.

Ans: (c) offices for the manager

5. Wall merchandising space.

(a) include dressing rooms.

(b) serve as fixtures for holding merchandise.

(c) wall for security.

(d) Any others.

Ans: (b) serve as fixtures for holding merchandise.

6. Floor merchandising space means:

(a) where retailers ultimately use scarce resources.

(b) only sales floor.

(c) display area.

(d) Any others.

Ans: (a) where retailers ultimately use scarce resources.

7. For Saving Space on the sales floor.

(a) hang TV on the wall.

(b) don’t hang TV.

(c) don’t use shelves.

(d) Any others.

Ans: (a) hang TV on the wall.

8. Real shortage means:

(a) Theft, loss, breakages or spoilage.

(b) Less order.

(c) Actual order.

(d) Any others.

Ans: (a) Theft, loss, breakages or spoilage.

9. Unexpected physical shortages are.

(a) shrinkage or leakage.

(b) theft.

(c) dropouts.

(d) Any others.

Ans: (a) shrinkage or leakage.

B. State whether the following are True or False.

1. A shortage of storage space does not seem to be a problem in retail store.

Ans: False.

2. Shoppers are most familiar with the sales floor.

Ans: Ture.

3. Fixtures are not used to display a wide variety of merchandise.

Ans: True.

4. One possibility for saving space, especially in a small retail store is to hang the TV on wall.

Ans: False.

C. Short Answer Questions:

1. Space is a retailers ultimate scare source. How can a retailer utilise space?

Ans: Space can be a retailer’s ultimate asset if utilized wisely. Retailers can optimize space by strategically arranging merchandise to maximize visibility and accessibility, creating inviting store layouts to enhance the shopping experience, and incorporating flexible displays and fixtures to adapt to changing needs. Additionally, leveraging technology like RFID tags and inventory management systems can help retailers efficiently manage space and inventory levels.

2. What is a floor plan?

Ans: Maintaining the floor plan is one of the duties of a store operations assistant. The floor plan indicates the place where goods or products and customer service are put together and also indicate the movement space for the customer.

3. What is allocation of space?

Ans: Allocating space means allotting a particular place for keeping a specific type of merchandise and facilitating a customer and increasing the sales by satisfying the customer and to give a customer a positive purchase experience.

4. What are the types of spaces?

Ans: There are five types of space-

(i) Back room: Back room is the space where the extra merchandising is stored. 

(ii) Office and functional spaces: Every retail store has space for an office, a break room, a training room, and an office for the manager and assistant manager and bathroom facilities for customers and employees and perhaps other area.

(iii) Aisles, services areas and other non: selling areas of main sales floor. Some space must be given up for non-selling functions so that a large numbers of shoppers can move through the store. 

(iv) Wall merchandising space: Walls are very important elements of a retail store. Fixtures holding large amounts of goods or merchandise, as well as visual backdrop for merchandise on floor can be put up on walls.

(v) Floor merchandising space: Different types of fixtures can be used to display a variety of goods The retailer must balance the quest for a better density of merchandise presentation with ability and

5. How can shortage of storage space be reported?

Ans: There is always a need for more place to stash the stuff. One of the problems often called upon to solve is finding and organising more storage space in retail stores Stock shortages are unexplained differences in the value of goods as determined by physical count, from the goods that the record show should be in hand. When the total value of the stock found during physical stock taking is less than the book value then there is a stock shortage, ie, an excess of the book stock over physical stock.

D. Check Your Performance:

1. Demonstrate how to arrange storage space.

Ans: (i) Plan & Categorize: Group items & sketch layout.

(ii) Vertical Space: Shelves, bins, use height for bulky items.

(iii) Easy Access: Frequently used items at eye level/front.

(iv) Label It: Mark boxes & bins for quick identification.

2. Practically prepare a chart on floor plan, allocate space, handle problems in shortage of space.

Ans: 

A. Fill in the Blanks:

1.___________ that is used must be big enough to safely handle the load being transported.

Ans: Equipment.

2. ____________ is very useful for moving small loads of merchandise around the store.

Ans: Trolley.

3. _____________ improves the productivity and efficiency of employees in a retail store.

Ans: Handling Equipment.

4. ______________ can better utilise their time and money with proper handling equipments.

Ans: Customer.

B. Multiple Choice Questions:

1. Safety is an integral aspect of ____________.

(a) retailers.

(b) material handling.

(c) in road safety.

(d) Any other.

Ans: (a) retailers.

2. Trolley is very useful for _____________. 

(a) moving small loads of merchandise.

(b) for sitting.

(c) for heavy load.

(d) Any other.

Ans: (a) moving small loads of merchandise.

3. Basket is used _____________.

(a) for heavy quantity of goods.

(b) for small quantity.

(c) instead of a trolley.

(d) Any other.

Ans: (b) for small quantity.

4. Electronic funds transfer at point of sale help in _______________.

(a) cashless transactions.

(b) money transactions.

(c) EFTPOS transactions.

(d) Any other.

Ans: (a) cashless transactions.

5. Electronic scales is used _______________ .

(a) in fresh produce stores for calculation of price.

(b) only to calculate weight.

(c) Both (a) and (b)

(d) To calculate only price.

Ans: (a) in fresh produce stores for calculation of price.

6. Pallets are used for _____________.

(a) maximising shipping efficiency

(b) for high density product.

(c) used at store floor.

(d) Any other.

Ans: (a) maximising shipping efficiency

7. Crane is ___________.

(a) a type of machine.

(b) used for lifting heavy things.

(c) an industrial equipment.

(d) Any other.

Ans: (a) a type of machine.

8. Forklift is ___________.

(a) an industrial truck used to to lift and move goods short distance.

(b) used for industrial purpose.

(c) a simple truck.

(d) Any other.

Ans: (a) an industrial truck used to to lift and move goods short distance.

C. State whether the following are True or False:

1. Safety is not an important aspect of material handling.

Ans: False.

2. Handling equipment helps in improving material flow control in retail.

Ans: True.

3. Crane is used for industrial purpose only.

Ans: False.

4. Proper equipment is used for experimental trained staff.

Ans: False.

5. Shipping consists of only transportation.

Ans: True.

D. Match the Columns:

Ans: 

E. Short Answer Questions:

1. What is the importance of handling equipment?

Ans: The importance of handling equipment must be done with the proper equipment by experienced and trained staff. The goods handling equipment used in retail stores are cranes, moving trucks, slings, forklifts, hand trolley and pallet jacks.

2. What are the various types of handling equipment?

Ans: There are ten various types of handling equipment. 

They are- 

(i) Trolley.

(ii) Bags.

(iii) Basket.

(iv) Hand-held scanner.

(v) Labelling Machine.

(vi) Electronic Funds Transferred at Point of Sale (EFTPOS) printer.

(vii) Electronic sales.

(viii) Pallet.

(ix) Crane.

(x) Forklift.

3. Discuss the need for handling equipment.

Ans: The need for handling equipment:

(i) It helps in identifying appropriate distance to cover.

(ii) It facilitates in reducing material damage as to improve quality.

(iii) It reduces the overall timing of loading and unloading.

(iv) It helps in improving control of material flow in a retail store.

(v) It helps in improving safe work condition.

(vi) It improves the productivity and efficiency of employees in a retail store.

(vii) Customers can better utilise their time and money.

F. Check Your Performance:

1. Demonstrate the functions of the handling equipment in a retail store.

Ans: Handling equipment in a retail store serves various functions:

(i) Material Handling: Equipment like forklifts and pallet jacks help in moving heavy goods from storage areas to the sales floor, ensuring efficient logistics.

(ii) Storage: Shelving units, racks, and bins provide organized storage for products, optimizing space and facilitating easy access for employees and customers.

(iii) Display: Display racks, shelves, and tables are used to showcase products attractively, encouraging sales and enhancing the shopping experience.

(iv) Transportation: Trolleys and carts aid in transporting goods within the store, making restocking shelves and fulfilling customer orders more manageable.

(v) Safety: Equipment like safety barriers and signage help ensure a safe shopping environment for both customers and employees, preventing accidents and injuries.

2. List out the types of goods moving equipments.

Ans: The types of goods moving equipments. 

They are:

(i) It helps in identifying appropriate distance to cover.

(ii) It facilitates in reducing material damage as to improve quality.

(iii) It reduces the overall timing of loading and unloading.

(iv) It helps in improving control of material flow in a retail store.

(v) It helps in improving safe work condition.

(vi) It improves the productivity and efficiency of employees in a retail store.

(vii) Customers can better utilise their time and money.