Page 106 - DMGT553_RETAIL_STORE_MANAGEMENT

Unit 6: Stock Management

Health and Safety Notes

Health and safety aspects of stock control are related to the nature of the stock itself. Issues such
as where and how items are stored, how they are moved and who moves them might be
significant – depending on what they are.

Self Assessment

Fill in the blanks:
11. ........................ involves making an inventory, or list, of stock, and noting its location and
value.
12. Stock taking is often an ........................ exercise.
13. Stock taking is a kind of ........................ to work out the value of the stock as part of the
accounting process.
14. Radio Frequency Identification (RFID) tagging using handheld readers can offer a simple
and efficient way to maintain a ........................ check on inventory.

15. A computerized system is a good option for businesses dealing with many ........................
types of stock.

Case Study Stock Control

Wasp InventoryControl Provides the Healing Touch for Stock at Great Ormond Street
Hospital
Conceived in 1852 as the UK’s first pediatric
hospital, the Great Ormond Street Hospital
(GOSH) opened its doors on Valentine’s Day
with just ten beds. Presently, GOSH is the only
exclusively-specialist pediatric hospital in the UK, treating over 150,000 patients each year
for the rarest and most complex conditions. GOSH is a national centre of excellence in the
provision of specialist children’s healthcare, delivering the widest range of specialist care
of any children’s hospital in the UK, all at no cost to the patient.
As an NHS Trust, cost saving and improved productivity are priorities for GOSH. The
cardiac catheterisation laboratory at GOSH utilizes high-cost consumables on a daily
basis, requiring greater focus on accountability and reducing costs. GOSH needed a way to
computerize stock in order to reduce wastage of expired stock and to supply accurate
costing for each procedure to commissioners that pay for GOSH services.
The Move to Inventory Control
In accordance with the rules governing GOSH, the hospital
sought a solution designed to improve efficiency and
accuracy of stock control. The Great Ormond Street
Hospital purchased Wasp MobileInventory (now sold as
InventoryControl), as well as a Wasp handheld device
for mobile scanning.

Contd....

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