This unit describes the performance outcomes, skills and knowledge required to establish and implement stock control and cost-effective stock purchasing and supply systems for a business.The unit applies to all tourism, travel, hospitality and event industry sectors. The unit is relevant to organisations where stock management is an integral and essential part of business operations, and where there are complex purchasing and control issues to be considered. The unit is not appropriate for situations where stock management is very simple, such as controlling stationery supplies in a small office.It applies to senior managers who operate with significant autonomy and who are responsible for making a range of strategic management decisions.No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.