Inventory Control Analyst
2 weeks ago
Job Description:
The Inventory Cost Analyst will play a critical role in managing and analyzing inventory costs, ensuring accurate financial reporting, and supporting decision-making processes within our retail operations. Your primary responsibilities will include overseeing inventory costing processes, conducting regular analyses of inventory transactions, preparing financial reports, and collaborating with cross-functional teams to optimize inventory control procedures.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Manage and oversee inventory costing processes, including standard costing and inventory valuation.
- Conduct regular analyses of inventory transactions and adjustments to ensure accuracy and adherence to accounting standards.
- Collaborate with cross-functional teams to coordinate, reconcile and investigate physical inventory counts and variances with financial records.
- Prepare and analyze inventory-related financial reports, including variance analysis and trend analysis.
- Monitor and report on inventory levels, aging, and slow-moving items to support inventory management decisions.
- Assist in the month-end and year-end close processes related to inventory, including preparing journal entries and reconciliations.
- Develop and maintain inventory cost models and ensure consistency across all inventory-related activities.
- Implement and improve inventory control procedures to enhance accuracy and efficiency in inventory management.
- Provide insights and recommendations to management on cost-saving opportunities and inventory management strategies.
- Ensure compliance with accounting policies, procedures, and internal controls related to inventory.
- Reconcile and approves cost and quantity variances at PO and invoice level.
MINIMUM QUALIFICATIONS
- 3+ years of proven experience as an Inventory Cost Accountant, Inventory Analyst, or similar role within the retail industry.
- Strong understanding of inventory costing methods and inventory management principles.
- Proficiency in ERP systems, advanced Excel skills (vlookup, pivot tables), and experience with inventory management software.
- Excellent analytical skills with the ability to interpret complex data and identify trends.
- Knowledge of retail operations and familiarity with retail industry trends is preferred.
EDUCATION
Bachelor’s degree in Accounting, Finance, or related field. CPA or CMA certification is a plus.
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