SCD Inventory Associate at Food Concepts Plc

Job Purpose

• To assist the SCD Finance Manager in the the day-to-day administration of stock movements across business functions within the Suply Chain team including PPU.

Core Responsibilities and Key Result Areas

• Responsible for inventory management.
• Receive documents for stock transfers and check for correctness.
• Monitor daily stock movement of SAP.
• Coordinate monthl products count in warehouse; preform quality checks on stock count process.
• Maintain accurate records of inventory levels and values in accordance with company policies and generally accepted accounting principles (GAAP).
• Perform monthly reconciliations of physical inventory counts to system records, investigating and resolving any discrepancies identified.
• Prepare and analyze inventory reports to identify trends, excess stock, and potential obsolescence, recommending actions to optimize inventory levels.
• Implement and maintain internal controls over inventory to prevent loss and ensure integrity of stock and accounting records.
• Coordinate with external auditors during audits by providing necessary inventory records and explanations for inventory accounting methods used.
• Develop and refine inventory accounting policies and procedures to improve efficiency.
• Check the computation of direct cost, diesel usage, gas consumption & general consumables for each business location within SCD.
• Assist in reconciliation of locational store cost of sales, diesel, gas & general consumables.
• Reconciliation with store managers.

Key Performance Indicators

• Timeliness of monthly stock count report.
• Accuracy of the inventory valuation reports.
• Timeliness of reporting monthly stock consumption and reconciliation
• Ensure accuracy of the inventory valuation report.
• Provision of timely inventory reports that helps in gaining visibility across the company.
• Ensure timely reconciliation of sales order reports before posting into the system.
• Timely review and validation of monthly GP reports via reconciliation of inward and outward inventory transfer within the units.
• Timeliness of stock usage and variance analysis.
• Timelines of cost of sales report for monthly profit or loss.

Knowledge Requirements

• Knowledge of Basic Bookkeeping and accounting receivables principles
• Knowledge of General accounting principles
• Knowledge of regulatory standards and compliance requirements
• Knowledge of managing accounting figures and financial records
• Demonstrates data entry skills with a knack for numbers
• Knowledge of accounting software

Job Specifications

• A good first degree in Accounting or Finance
• Membership of ICAN, ACCA, or any other related professional degree is an added advantage
• Minimum of  3- 4 years’ experience in a similar role is required

Decision Expectations

• Generate financial statements and reports detailing accounts receivable status
• Send clients complete, itemized invoice that clearly states financial terms and provides instructions for remitting payment.
• Identify and create solutions to recurring payment issues
• Remind clients at, or just before the due date, of the payment requirement.
• Support other accounting functions