SIRRMRM004 — Develop a merchandise financial plan

1 Review organisational financial information.

• 1.1Access and review merchandise strategy to determine financial and merchandise objectives for a specified trading period.
• 1.2Access and review organisational profit and loss statement to determine organisational financial position and objectives as required.
• 1.3Review post-trade analysis data to determine past merchandise financial performance.
• 1.4Source and analyse relevant internal and external factors impacting merchandise financial planning.
• 1.5Identify merchandise financial planning activity that will maximise profitability and organisational financial performance.

2 Develop merchandise financial plan.

• 2.1Plan sales value for the specified trading period using organisational systems and processes.
• 2.2Determine gross profit margins that meet financial objectives.
• 2.3Plan markdown value to account for potential markdowns and shrinkage and to minimise profit loss.
• 2.4Plan optimal inventory values against key performance indicators that maximise profitability and minimise loss.
• 2.5Review organisational promotional plan to determine impacts of planned promotional activity on sales, inventory and profit planning.
• 2.6Establish merchandise performance indicators.
• 2.7Document sales, inventory and profit values using established organisational systems and processes.
• 2.8Obtain input from relevant personnel and make adjustments to merchandise financial plan based on feedback received.
• 2.9Finalise merchandise financial plan and gain approval as required.
• 2.10Communicate merchandise financial plan to relevant personnel.

3 Review and re-plan merchandise financial plan.

• 3.1Review in-trade financial performance against actual and budgeted sales, profit and inventory values.
• 3.2Investigate and account for variances in sales, inventory and profit values.
• 3.3Identify available rebates and incorporate into merchandise financial plan as required.
• 3.4Re-plan sales, profit and inventory values in response to the actual sales results.
• 3.5Re-plan sales, profit and inventory values in response to internal and external influences on performance.

What does an assessment tool for SIRRMRM004 need to cover?

To satisfy the Principles of Assessment and Rules of Evidence, an assessment for SIRRMRM004 needs to address all 76 unit components: 3 elements with 20 performance criteria, 3 performance evidence requirements, 51 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.

How does Auditori generate an assessment tool for SIRRMRM004?

Auditori pulls the current release of SIRRMRM004 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.

Is the first assessment tool really free?

Yes. Every new account includes one free credit — enough to generate the complete assessment tool for SIRRMRM004 — with no card and no subscription required. After that it's pay-as-you-go per unit.

Can I check my existing SIRRMRM004 assessment instead of generating a new one?

Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of SIRRMRM004, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.