Lesson Notes By Weeks and Term - Senior Secondary 1

Inventory control

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TERM – 3RD TERM

WEEK FIVE

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 5 periods each

Date:

Subject: STORE KEEPING

Topic: INVENTORY CONTROL

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

I.) Describe inventory control                                

II.) Outline the uses of inventory control

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S

ACTIVITY

STEP 1

INTRODUCTION

The teacher explains the meaning of inventory control to the students

Students in groups are asked how inventory can be controlled                                                                                                

STEP 2

EXPLANATION

Teacher discusses the uses of inventory control

Students pay attention and participate.

STEP 3

NOTE TAKING

The teacher writes a summarized

note on the board

The students

copy the note in

their books

 

NOTE

INVENTORY CONTROL

Inventory control refers to the process of managing and regulating inventory levels to ensure that a business or organization has the right amount of stock on hand at the right time. It involves monitoring inventory levels, ordering or producing new stock, and optimizing inventory turnover to minimize carrying costs while meeting customer demand.

Uses of Inventory Control

  1. Optimizing Inventory Levels: Inventory control helps businesses maintain optimal inventory levels by balancing the costs of holding inventory with the costs of stockouts and lost sales.
  2. Reducing Carrying Costs: Carrying costs, including storage, handling, insurance, and obsolescence, can represent a significant expense for businesses. Effective inventory control strategies, such as just-in-time inventory management and inventory optimization techniques, help minimize carrying costs by reducing excess inventory and improving inventory turnover.
  3. Improving Cash Flow: Excess inventory ties up capital that could be invested elsewhere in the business. Inventory control helps businesses optimize their cash flow by reducing excess inventory levels and freeing up capital for other investments or operational needs.
  4. Enhancing Customer Service: Maintaining the right amount of inventory ensures that businesses can fulfill customer orders promptly and accurately, leading to higher customer satisfaction and loyalty.
  5. Streamlining Operations: Effective inventory control processes streamline operations by providing visibility into inventory levels, demand patterns, and supply chain performance.
  6. Minimizing Risks: Inventory control helps businesses mitigate risks associated with inventory management, such as stockouts, overstocking, theft, obsolescence, and supply chain disruptions.

EVALUATION: 1. What is inventory control?

  1. Identify 5 uses of inventory control.

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively