Inventory Analyst
Job description:
I. Financial Analysis & Reporting - InventoryConduct in-depth financial analysis of inventory, including cost of goods sold (COGS), inventory turnover, carrying costs, obsolescence, and shrinkage.
Prepare comprehensive financial reports and reconciliations related to inventory for the Finance Officer, highlighting key metrics, variances, and financial implications.
Analyze inventory discrepancies from a financial perspective, identifying root causes and recommending solutions to mitigate financial losses
Collaborate with the Finance team on audits, providing necessary documentation and explanations for inventory-related accounts.
II. Inventory Control & Accuracy Oversight
Supervise and lead the Inventory Control department, ensuring the accurate and timely execution of all inventory-related transactions (receipts, issues, transfers, adjustments).
Develop, implement, and enforce robust inventory control procedures, policies, and internal controls to maintain high levels of inventory accuracy and prevent losses.
Oversee and manage the cycle counting and/or physical inventory programs, ensuring proper execution, reconciliation, and documentation.
Investigate and resolve complex inventory discrepancies, leveraging data analysis and process reviews to identify and address underlying issues.
Implement and optimize the use of inventory management systems (IMS) and ERP systems to enhance data integrity and reporting capabilities.
III. Process Improvement
Identify opportunities to streamline inventory processes, reduce costs, and improve overall financial efficiency within inventory management.
Recommend and implement best practices in inventory control and financial reporting.
Stay current with industry trends, inventory management technologies, and accounting principles relevant to inventory.