Key Responsibilities and Role:
The Cost and Inventory Manager plays a critical role in driving financial discipline, operational efficiency, and data-driven decision-making across the organization. This position is responsible for overseeing cost management, inventory control, and financial reporting to ensure accurate costing, optimal stock levels, and improved profitability.
1. Cost Management & Analysis
- Develop and implement cost control strategies to improve profitability.
- Analyze product costing, production expenses, and operational efficiencies.
- Conduct variance analysis to identify cost fluctuations and recommend corrective actions.
- Collaborate with procurement and operations teams to optimize costs without compromising quality.
- Ensure accurate standard costing and monitor deviations from actual costs.
- Provide management with insights and recommendations to support decision-making.
2. Inventory Control & Management
- Oversee all inventory management processes, ensuring optimal stock levels.
- Monitor inventory movement, reconcile discrepancies, and minimize wastage or losses.
- Conduct regular cycle counts and physical inventory audits.
- Develop inventory tracking systems and reporting tools to improve visibility.
- Ensure compliance with company policies and industry best practices in inventory management.
3. Financial & System Reporting
- Utilize ERP systems (e.g., Business Central) to generate accurate cost and inventory reports.
- Perform financial analysis, forecasting, and scenario planning using advanced Excel techniques.
- Align inventory valuation and costing with financial reporting and accounting standards.
- Prepare reports and present key findings to senior management to support strategic decisions.
4. People Management & Team Leadership
- Lead, coach, and develop cost and inventory team members to ensure high performance and accuracy.
- Assign tasks, set priorities, and monitor deliverables to meet operational and reporting deadlines.
- Provide training and guidance on cost control, inventory procedures, and ERP systems.
- Foster a culture of accountability, continuous improvement, and collaboration.
- Support performance management, including feedback, development planning, and policy adherence.
5. Collaboration & Process Improvement
- Liaise with purchasing, warehouse, production, and finance teams to streamline workflows.
- Identify opportunities to improve cost control, inventory efficiency, and reporting accuracy.
- Implement automation and digital tools to enhance processes and decision-making.
- Ensure compliance with internal and external audit requirements.
