Monitor, identify and investigate loss and wastage in a retail organisation

This standard is about monitoring levels of stock, equipment, cash and cash equivalents and identifying and investigating any loss and wastage in your retail organisation. It also involves drawing conclusions about how wastage and loss can be prevented in future, taking preventive measures and training staff to help reduce wastage and loss as far as possible.

This standard is for staff who have responsibilities for monitoring, identifying and investigating loss and wastage in the workplace

When you have completed this standard you will be able to demonstrate your understanding of and ability to:

• Monitor, identify and investigate loss and wastage in a retail organisation

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1. monitor levels of stock, equipment, cash and cash equivalents following your workplace procedures
2. identify and record loss and wastage, and investigate their causes following your workplace procedures
3. investigate and identify ways of preventing loss and wastage and put them into practice following your workplace procedures
4. follow your workplace procedures to evaluate loss control, using valid and reliable information
5. follow your workplace procedures to explain to staff the nature and extent of loss and wastage, the problems it causes and how staff can help to reduce them

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1. your workplaces relevant procedures for monitoring, identifying and recording loss and wastage of cash and cash equivalents
2. your workplace procedures for monitoring, identifying and recording loss and wastage
3. your workplace investigation procedures and its definition of unacceptable loss and wastage
4. how unacceptable loss and wastage are likely to happen in your workplace
5. the items most likely to be at risk of loss and wastage in your workplace
6. the purpose of loss control and stock taking systems
7. different strategies for preventing loss and wastage and when to use them
8. how to explain causes of loss and wastage to colleagues so that they can contribute to reducing them
9. how to check loss and wastage evaluations

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3

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2030

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Current

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Original

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Skillsmart Retail

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SSR.E305

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Managers and Senior Officials, Managers in Distribution, Storage and Retailing, Owner/Manager, Retail and Commercial Enterprise, Retailing and Wholesaling, Team Leader

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7111

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Retailing; retailers; monitors; monitoring; checks; checking; investigates; investigation; assesses; assessing; assessment; waste; wastage

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