1. Oversee the inventory management process, including purchasing, storage, and inventory valuation.
2. Implement effective inventory control measures to prevent loss, theft, or damage to inventory.
3. Monitor inventory levels and analyze inventory data to identify trends and provide informed recommendations for inventory adjustments or restocking.
4. Ensure accurate and timely recording of inventory and production transactions, and review and maintain appropriate documentation.
5. Coordinate with purchasing, production, and sales teams to ensure accurate and effective inventory planning and forecasting.
6. Implement and streamline cost control measures to identify opportunities for cost savings and improve overall cost efficiency.
7- Conduct regular cost analysis and variance analysis to identify cost drivers and recommend cost reduction strategies.
8- Ensure compliance with all applicable regulations, policies, and procedures related to inventory and cost control.
9- Collaborate with the finance department to provide accurate and timely information on costs and inventory for financial reporting and periodic closing purposes.
10- Conduct regular physical counts of all types of inventory to ensure accurate balances.
11- Maintain a standardized coding system for inventory items for internal and external use.
12- Review data entry against documentation and run cost estimates on the ERP system to ensure accurate costs for production orders and finished products.