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

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

SESSION 1: STOCK LEVELS IN RETAIL STORES

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.

SESSION 2: DOCUMENTS REQUIRED FOR STOCK HANDLING

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.

SESSION 3: REPORTING STORAGE SPACE

SESSION 4: HANDLING EQUIPMENT