Job Description:
The Factory Commercials Manager (Inventory and Manufacturing Accounting) will play a key role in managing and overseeing the financial and accounting functions related to inventory management, manufacturing costs, and production-related accounting activities within the factory. This position ensures accurate reporting, effective inventory control, and streamlined manufacturing cost processes to support operational efficiency and profitability. The role requires strong collaboration with finance, operations, and supply chain teams to maintain effective cost management and reporting systems.
Responsibilities:
Inventory Management:
Oversee and ensure accuracy in inventory records, including raw materials, work-in-progress (WIP), and finished goods.
Monitor stock levels and coordinate with the supply chain and production teams to minimize stockouts and excess inventory.
Implement best practices for inventory control, including regular stock audits, cycle counting, and reconciliation of physical and system inventory.
Analyze inventory turnover, obsolescence, and slow-moving items, and recommend strategies for optimization.
Manufacturing Cost Accounting:
Prepare and review cost calculations for manufacturing processes, ensuring accurate allocation of direct and indirect costs (labor, overheads, materials, etc.).
Coordinate with production and engineering teams to track cost variances, identify inefficiencies, and implement corrective actions to optimize manufacturing costs.
Develop and maintain cost structures for various products and production processes.
Perform monthly, quarterly, and annual cost analysis to track performance against budget and forecast.
Financial Reporting & Analysis:
Generate and review financial reports related to manufacturing costs, inventory, and production efficiency.
Prepare and analyze monthly/quarterly factory cost reports and provide insights to senior management regarding trends, variances, and cost-saving opportunities.
Assist in the preparation of annual budgets and forecasts for manufacturing and inventory-related costs.
Support month-end closing activities by ensuring that all production and inventory-related entries are accurate and up-to-date.
Internal Controls & Compliance:
Ensure compliance with internal controls, company policies, and financial regulations relating to inventory and manufacturing accounting.
Implement and enforce cost control measures to prevent waste, fraud, and mismanagement in the manufacturing and inventory processes.
Prepare for and support external audits related to inventory and manufacturing cost processes.
Collaboration & Stakeholder Management:
Collaborate with production, procurement, and supply chain teams to support operational goals and optimize inventory and cost management.
Act as the main point of contact for finance and accounting-related queries from the factory and other departments.
Provide training and support to factory staff on inventory management systems, cost accounting procedures, and financial best practices.
Skills & Qualifications:
Education:
Bachelor's degree in Accounting, Finance, Business Administration, or related field.
Professional certifications such as CPA, CMA, or similar qualifications are a plus Professional qualification such as CA would be a plus.
Experience:
Minimum of 7 years of experience in manufacturing accounting, cost accounting, inventory management, or related roles, ideally within a manufacturing or industrial setting.
Proven experience with inventory systems, financial reporting, and cost control processes.
Technical Skills:
Strong proficiency in Microsoft Excel and accounting software (e.g., SAP, Oracle, ERP systems).
Familiarity with inventory management software and data analytics tools.
Strong analytical and problem-solving skills with the ability to manage large volumes of data.
Soft Skills:
Excellent communication skills with the ability to interact effectively with cross-functional teams.
Strong attention to detail, organizational skills, and the ability to manage multiple tasks and deadlines.
Ability to work independently, take initiative, and handle sensitive financial information with confidentiality.
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