DUTIES and RESPONSIBILITIES:
1. Financial Reporting and Analysis
- Maintain Inventory stock cards for monitoring and reporting purposes.
- Perform the cost accumulation and analysis of inventory movement.
- Ensure accurate recording and valuation of inventory in accordance with applicable accounting standards.
- Ensuring that the manual movement of inventory is parallel with what is reported in the books.
- Prepare and analyze inventory related financial reports, including inventory reconciliations and cost of goods sold analysis.
- Monitor and update inventory cost components such as material, labor, scrap and overhead.
- Prepare detailed reports on inventory status, including variances, scrap, and associated financial impacts.
- Recommend actions to improve inventory efficiency and reduce carrying costs.
2. Team Supervision and Leadership
- Oversee and participate in cycle counts and full physical inventories; investigate and resolve variances.
- Coordinate with other department in resolving discrepancies in inventory.
- Assign tasks, monitor progress, and ensure timely completion of responsibilities.
- Supervise inventory accounting staff responsible for inventory control and reporting function.
3. Internal Controls and Compliance
- Develop and enforce inventory accounting procedures and internal controls.
- Ensure compliance with corporate accounting policies and regulatory standards.
- Evaluate risks and recommend improvements to strengthen controls over inventory assets.
4. Process Improvement
- Identify inefficiencies in inventory accounting processes and implement improvements.
- Collaborate with IT and operations teams to ensure systems accurately reflect inventory activities.
- Document and maintain standard operating procedures (SOPs) for inventory accounting processes.
5. Coordination with Other Departments
- Work closely with Operations, Production, and Finance to ensure inventory accuracy and financial alignment.
- Coordinate with warehouse teams to align physical inventory handling with accounting requirements.
- Support production and planning teams with inventory data for decision-making.
- Serve as the point of contact between accounting and operational departments for inventory matters.
6. Financial Systems Management
- Oversee the implementation, maintenance, and optimization of inventory accounting systems to ensure accurate recording and reporting of inventory transactions.
- Monitor system integration between inventory, procurement, and accounting modules (e.g., ERP systems) to ensure data consistency and efficiency.
- Evaluate the functionality and accuracy of inventory-related accounting software and recommend updates, enhancements, or process improvements as needed.
- Collaborate with IT, Finance, and Operations teams to resolve system issues and support upgrades or transitions.
Job Qualification:
Education: Graduate of a Bachelor’s Degree in Accountancy, Financial Management,
Management Accounting, or any related field.
Experience: With more than 3 years of experience as a Supervisor in a manufacturing
industry. Preferably with experience in costing.
Other Skills / Abilities: SAP Accounting Software knowledge. Excellent analytical skill.
Hardworking. Attention to details
