**Lesson Plan for Store Keeping: Types of Inventory Control**
**Grade Level:** Senior Secondary 1
**Subject:** Store Keeping
**Topic:** Types of Inventory Control
**Duration:** 60 minutes
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### **Objectives:**
By the end of this lesson, students should be able to:
1. Define inventory control.
2. Identify and describe different types of inventory control.
3. Explain the importance of inventory control in storekeeping.
4. Compare and contrast various methods of inventory control.
### **Materials Needed:**
- Whiteboard and markers
- PowerPoint slides or a projector (optional)
- Handouts with key terms and definitions
- Sample inventory forms
- Case studies or examples of businesses with different inventory control systems
### **Lesson Outline:**
#### **1. Introduction (10 minutes)**
- **Greeting and Attendance:**
- Welcome the students and take attendance.
- **Hook/ Icebreaker:**
- Ask students if they have ever wondered how large businesses keep track of their stock. Create a link to real-life scenarios like grocery stores or pharmacies.
- **Objective Overview:**
- Briefly outline the objectives of the lesson.
#### **2. Presentation (20 minutes)**
- **Define Inventory Control (5 minutes):**
- Explain what inventory control is: the process of managing inventory to ensure that the right quantity of supplies is available at the right time without overspending.
- Stress its importance in preventing loss, reducing costs, and ensuring smooth business operations.
- **Types of Inventory Control (15 minutes):**
- **Perpetual Inventory System:**
- Define and explain how it involves continuous tracking of inventory.
- Discuss the use of technology and software in maintaining perpetual inventory.
- **Example:** Large retail stores like Walmart.
- **Periodic Inventory System:**
- Define and explain how it's based on physical counts of inventory at regular intervals.
- Discuss its simplicity and cost-effectiveness for small businesses.
- **Example:** Small independent bookstores.
- **Just-In-Time (JIT) Inventory System:**
- Define and explain how inventory arrives only when needed.
- Highlight its efficiency in reducing storage costs but also discuss risks like delays.
- **Example:** Automobile manufacturers like Toyota.
- **ABC Analysis:**
- Define and explain how it categorizes inventory into three categories (A, B, and C) based on importance and value.
- Discuss how focusing on 'A' items can significantly impact the overall success.
- **Example:** Pharmaceutical companies.
#### **3. Activities (20 minutes)**
- **Group Discussion (10 minutes):**
- Break students into small groups.
- Provide each group with a case study or example business scenario.
- Ask them to identify which type of inventory control would be most beneficial for the given scenario and why.
- Have one representative from each group present their findings.
- **Individual Activity (10 minutes):**
- Distribute handouts with sample inventories.
- Ask students to determine which type of inventory control might be most effective for managing the listed items.
- Facilitate a brief discussion on their choices.
#### **4. Review and Assessment (5 minutes)**
- **Review Key Points:**
- Reiterate the definitions and types of inventory control.
- Ask a few students to summarize key points.
- **Quiz:**
- Conduct a quick oral or written quiz to assess students' understanding.
- Example questions:
- What is the main advantage of a perpetual inventory system?
- How does Just-In-Time inventory control reduce costs?
#### **5. Closing (5 minutes)**
- **Q&A:**
- Open the floor for any questions or clarifications from the students.
- **Homework Assignment:**
- Ask students to write a short essay explaining which inventory control method they believe is most effective and why.
- **Wrap-Up:**
- Thank the students and briefly preview the next lesson's topic.
### **Reflection:**
- Ensure to note which segments of the lesson were most engaging for the students.
- Assess the understanding based on quiz results and group discussions.
- Adjust future lessons based on students' comprehension and feedback.
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This lesson plan aims to provide Senior Secondary 1 students with a comprehensive understanding of various inventory control methods, their benefits, and real-life applications.