Inventory Accountant

Who We Are

At KLS Martin, we offer a unique opportunity to contribute to the success of a dynamic and thriving company whose products are used daily across the world to help surgical patients.

The KLS Martin Group is a worldwide leader in creating surgical solutions for the craniomaxillofacial and cardiothoracic fields. Surgical innovation is our passion, and we are constantly working with surgeons to improve surgical care for their patients. Our product portfolio includes titanium and resorbable implants for reconstruction, innovative distraction devices to stimulate bone lengthening, over 4,000 surgical instruments, and other surgical products designed specifically for CMF and cardiothoracic surgeons.

KLS Martin is an innovative leader in the treatment of CMF deformities and trauma cases. We use Individual Patient Solutions (IPS) by using our proprietary IPS products where CT scans are used to custom design implants that are created specifically for that individual patient. This technology allows our surgeons to provide the best-in-class treatment for their patients.

KLS Martin Guiding Principles

• Established, Privately Held Business Group - Responsive to customers, not shareholders. KLS Martin has manufactured medical products since 1896, and we have sold our products in the United States under the KLS name since 1993. We have always been, and always will be, privately owned.
• Patient Focus - We design products with the patient in mind - CMF, Thoracic & Hand
• Product to Table - Integrated planning, design, manufacturing and distribution process
• Educational Partner - Our primary focus for support is on education
• Inventory Alliance - Inventory management is critical to patient treatment/outcome
• Surgical Innovation is Our Passion - More than just a tagline

What We Offer

• We provide full-time employees with a competitive benefits package, including paid parental leave
• In-house training and professional development opportunities
• A culture of creativity and innovation by drawing on diverse perspectives and ideas to drive surgical innovation

Job Summary

The Inventory Accountant will play a critical role in managing the financial integrity of the company‘s inventory processes, with a focus on accurate reporting, reconciliation, and analysis of inventory transactions. This role will also handle key aspects of cost accounting, including cost of goods sold (COGS) and freight expense accounting. The Inventory Accountant will work closely with operations & procurement and finance teams to ensure costs are properly tracked, allocated, and reported in compliance with accounting standards.

Essential Functions, Duties, and Responsibilities

Inventory Accounting and Reconciliation:

• Track and reconcile inventory transactions, ensuring the accurate recording of purchases, transfers, and sales.
• Monitor and maintain accurate records of inventory balances, performing regular reconciliations with the general ledger.
• Work with the operations team to conduct regular inventory counts and resolve any discrepancies.

Cost of Goods Sold (COGS) & Cost Accounting:

• Analyze and reivew COGS, ensuring the accuracy of cost allocations and drivers based on inventory movements and sales.
• Analyze variances between actual and standard costs and investigate discrepancies.
• Maintain and analyze cost accounting records to support financial decision-making related to production, inventory levels, and pricing.
• Collaborate with the finance and operations teams to provide accurate cost reports and forecasts.
• Support cost control initiatives by identifying opportunities for cost savings and efficiency improvements in inventory processes.

Freight Expense Accounting:

• Track and allocate freight expenses related to the procurement and distribution of goods.
• Ensure that freight-in and freight-out costs are properly reflected in inventory valuation and financial statements.

Reporting and Compliance:

• Prepare monthly, quarterly, and annual reports related to inventory, COGS, freight expenses, and cost accounting.
• Ensure compliance with internal controls and accounting standards (e.g., GAAP or IFRS) related to inventory and cost management.
• Support internal and external audits by providing documentation and explanations for inventory-related transactions.

Cross-Functional Collaboration:

• Work closely with intercompany teams to ensure accurate financial reporting and to support continuous improvement in inventory management processes.
• Provide insights and recommendations on inventory-related financial data to support management decision-making.

The above cited duties and responsibilities describe the general nature and level of work performed by people assigned to job. They are not intended to be an exhaustive list of all the duties and responsibilities that an incumbent may be expected or asked to perform.

Educational and Experience Requirements

• Bachelor‘s degree in Accounting, Finance, or a related field required.
• Master‘s level degree in related field and/ or CPA certification preferred.
• Proven experience in financial reporting and accounting roles, demonstrating a strong understanding of accounting principles, regulations, and best practices.
• Proficiency in corporate accounting and internal controls.
• 5+ years of experience in a related position preferred.
• Proficient use of SAP financial system preferred.
• Advanced level knowledge of Microsoft 365 software applications suite

Knowledge, Skills, and Abilities

• A visionary mindset focused on process improvement, efficiency, and leveraging technology to automate manual tasks.
• Excellent analytical, problem-solving, and critical-thinking skills to identify opportunities and provide innovative solutions.
• Effective communication and interpersonal skills to collaborate effectively with cross-functional teams and stakeholders.
• Ability to inspire and motivate others, fostering a positive work environment that encourages growth, creativity, and continuous learning.
• High standards of integrity and professionalism.
• Ability to follow through on issues, make informed decisions that comply with policies and procedures, complete tasks and problem-solve.
• Initiative-taking and action oriented.

Skill Requirements

• Typing/computer keyboard
• Utilize computer software (specified above)
• Retrieve and compile information
• Maintain records/logs
• Verify data and information
• Organize and prioritize information/tasks
• Operate office equipment
• Advanced mathematical concepts (fractions, decimals, ratios, percentages, graphs)
• Verbal communication
• Written communication
• Public speaking/group presentations
• Research, analyze and interpret information
• Investigate, evaluate, recommend action
• Basic mathematical concepts (e.g. add, subtract)
• Abstract mathematical concepts (interpolation, inference, frequency, reliability, formulas, equations, statistics)

Physical Requirements

• Sitting for extended periods
• Extended periods viewing computer screen
• Reading
• Speaking
• Hear/Listen
• Maintain regular, punctual attendance
• Repetitive Motions
• Writing

Hazards

• Normal office environment

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

KLS Martin is a drug-free employer