Inventory and Cost Accountant
Job Responsibility and
Accountability
Prepare, consolidate, and track
inventory and costs budgets, annual plans and forecasts.
Determine and track the allocation of
costs to SKUs, Categories, brands, channels, and segments.
Compare actual inventories and costs
against budgets, investigate variances, communicate findings, and make
recommendations for improvement.
Prepare commentaries to explain actual
inventories and costs against budget and other comparatives.
Analyze trends on past and current
inventories and costs to provide insights that enable the management to
anticipate and plan.
Imports’ costing and verification for
all inventory items including spares
Designing and maintaining robust
inventories and cost controls
Risk assessment and management for
inventories and costs
Accounting, monitoring, and managing
insurance policies and claims.
Tracking, accounting, and reporting
stock adjustments.
Responsible for inventories at all
locations including goods-in-transit.
Responsible for end-to-end inventories
management including cannibalization, Returns (GRNs), spare parts, scrap,
disposals, capitalization, display, promotions, obsolete and saleable stocks.
Conduct risk assessments and develop
mitigation plans.
Maintain a controls checklist for
inventories, budgets and costs.
Prepare reconciliations and ensure all
reconciling items are closed with the agreed timelines.
Ensure a relevant and effective chart
of accounts is in place with all materials and sub-ledger mappings configured
correctly.
Responsible for finance representation
for ERP and automation initiatives related to inventories and costs
Analysing the impact on taxes and
duties on costs.
Create and maintain a database of
inventories and costs.
Assist in transfer pricing policy
calculations and evaluation.
Develop templates for analyzing
different scenarios for inventories and costs.
Identify and analyze inventory
optimization and cost savings opportunities for the company.
Drive inventory and cost optimization
initiatives.
Provide the management with analysis
and advice on total cost optimization and allocation.
Use qualitative and quantitative
techniques to gauge the efficiency and effectiveness of inventory optimization
and cost utilization (e.g use of ratios).
Perform cost / benefit analysis for
proposed, current and closed projects and initiatives, including new lines of
business, outsourced services, leasing, pricing, discounts e.t.c
Proactively partner with and advise
non-finance team members on inventory management best practices, cost control
and optimization.
Work closely with the retail, sales,
marketing, and supply chain teams to map out inventory and cost optimization
opportunities.
Participate in the cross-functional review and analysis of inventory and total cost reports.
Assist the Financial Accountant to
conduct the finance training as part of an upskilling and awareness creation
program.
Go for structured trade visits to
develop a deep commercial appreciation of the business.
Perform pre and post implementation
evaluation of the effectiveness of inventory control and cost optimization
initiatives.
Monitor and evaluate the cost
efficiency of each department and inventory consignment.
Inventories, costs’ budget and tax
controls / process checks & reviews
Controls and compliance: Facilitate
audits and perform self-assessments on inventories and costs/tax optimization
procedures, policies and initiatives.
Qualification and
Experience
Bachelor’s degree in finance,
accounting, economics from an accredited University.
Membership of a recognized
professional accountancy body (e.g. CFA, CPA or ACCA).
Minimum 4 years’ progressive financial
reporting, planning and analysis experience.
Must have served at least 2 years in a
supervisory position, preferably in retail business.
Experience in working with analytics
tools such as BI, Qlik, Business Warehouse e.t.c
Key Skills:
Interpretation of financial
information with a commercial lens.
Excellent financial modelling skills.
High attention to detail, excellent
analytical and presentation skills.
High level of integrity and
confidentiality.
Ability to build collaborative
relationships across the organization.
Stakeholder and risk management
experience.
A strong team player with demonstrated
experience in leading and working with teams.
Knowledge of commercial finance best
practices.
How to Apply
Interested and qualified candidates should forward their
CV to: careers@hotpoint.co.ke using
the position as subject of email.
