Cost and Inventory Manager

Key Responsibilities and Role:

The Cost and Inventory Manager plays a critical role in driving financial discipline, operational efficiency, and data-driven decision-making across the organization. This position is responsible for overseeing cost management, inventory control, and financial reporting to ensure accurate costing, optimal stock levels, and improved profitability.

1. Cost Management & Analysis

• Develop and implement cost control strategies to improve profitability.
• Analyze product costing, production expenses, and operational efficiencies.
• Conduct variance analysis to identify cost fluctuations and recommend corrective actions.
• Collaborate with procurement and operations teams to optimize costs without compromising quality.
• Ensure accurate standard costing and monitor deviations from actual costs.
• Provide management with insights and recommendations to support decision-making.

2. Inventory Control & Management

• Oversee all inventory management processes, ensuring optimal stock levels.
• Monitor inventory movement, reconcile discrepancies, and minimize wastage or losses.
• Conduct regular cycle counts and physical inventory audits.
• Develop inventory tracking systems and reporting tools to improve visibility.
• Ensure compliance with company policies and industry best practices in inventory management.

3. Financial & System Reporting

• Utilize ERP systems (e.g., Business Central) to generate accurate cost and inventory reports.
• Perform financial analysis, forecasting, and scenario planning using advanced Excel techniques.
• Align inventory valuation and costing with financial reporting and accounting standards.
• Prepare reports and present key findings to senior management to support strategic decisions.

4. People Management & Team Leadership

• Lead, coach, and develop cost and inventory team members to ensure high performance and accuracy.
• Assign tasks, set priorities, and monitor deliverables to meet operational and reporting deadlines.
• Provide training and guidance on cost control, inventory procedures, and ERP systems.
• Foster a culture of accountability, continuous improvement, and collaboration.
• Support performance management, including feedback, development planning, and policy adherence.

5. Collaboration & Process Improvement

• Liaise with purchasing, warehouse, production, and finance teams to streamline workflows.
• Identify opportunities to improve cost control, inventory efficiency, and reporting accuracy.
• Implement automation and digital tools to enhance processes and decision-making.
• Ensure compliance with internal and external audit requirements.