Business Purpose/Objective

• Manage the company’s inventory valuation, reconciliation processes, and cost analysis

Duties and responsibilities
Inventory Valuation and Reporting

• Prepare weekly inventory valuation and movement reports
• Ensure accurate costing of inventory items
• Analyze inventory turnover and identify slow-moving items

Reconciliation and Cost Analysis

• Conduct monthly physical inventory reconciliations
• Perform regular cost analysis to identify variances and inefficiencies
• Reconcile inventory sub-ledgers with the general ledger

Inventory Assessment and Optimization

• Lead quarterly assessments of slow-moving and obsolete inventory
• Collaborate with operations to optimize inventory levels
• Recommend strategies for inventory reduction and cost savings

Costing and Process Improvement

• Update and maintain product costing models
• Identify and implement process improvements for inventory management
• Ensure compliance with accounting standards related to inventory

Audit and Reporting

• Coordinate and assist with annual comprehensive inventory audits
• Prepare detailed inventory reports for management and auditors
• Develop and maintain documentation of inventory accounting procedures

Key Metrics

• Inventory turnover ratio
• Days inventory outstanding (DIO)
• Inventory accuracy rate
• Obsolete inventory as a percentage of total inventory
• Carrying cost of inventory
• Gross margin return on inventory investment (GMROI)
• Inventory shrinkage rate
• Cycle count accuracy

Academic qualifications & skills requirements

• Bachelor’s degree in Accounting, Finance, or related field
• 3-5 years of experience in inventory accounting or cost accounting
• Strong knowledge of inventory valuation methods and cost accounting principles
• Proficiency in ERP systems and advanced Excel skills
• Excellent analytical and problem-solving abilities
• Detail-oriented with strong organizational skills
• Knowledge of GAAP as it relates to inventory accounting
• CPA or progress toward CPA is a plus

Closing Date: Oct 19, 2024