Job Description of Inventory Associate- SCD

Job Title:

Inventory Associate- SCD

Location:

Head Office

Grade Level:

Department:

Finance Department

Reports to (Title):

Finance Manager-SCD 

Direct Reports:

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

Educational Requirements

Professional Requirements

Experience Requirements

-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

Working Conditions

Jobholder typically work 40 hours per week, Monday to Friday, although some roles may involve weekend or evening work. This role is largely office-based, and requires the job holder to strongly pay attention to detail. Like other accounting positions, it involves a lot of papers and documents. Job role holder needs to have a well-organized system to match the right documents to the right files and payments. Additionally, prioritizing payments based on due dates, amounts and the relationship with the payer is important.

Contacts and Purpose of Contact

Internal Contacts (most frequent contacts)

Purpose of Contact

• Executive Management
• Senior Management

• Exchange or provide information
• Obtain, clarify, and discuss information
• Present, discuss information and problems
• Collaborate, negotiate and present ideas
• Deal with, influence or motivate subordinates
• Promote, justify or settle highly sensitive matters

External Contacts (most frequent contacts)

• Suppliers/ Vendors
• Banking Institutions