Inventory Controller

1 week ago

Sandton, South Africa Mastech General Trading Full time

**Experience with SAP**
- Proficient in using the Microsoft Office programs and advanced excel skills
- Accounting (Current IFRS requirements) related to inventory accounting
- Knowledge of the Income Tax Act related to inventory
- Attention to detail
- Good interpersonal skills - communicates appropriately and considers the counterparts’ level of knowledge
- Able to liaise and work with various levels of management, fellow colleagues and BMW AG personnel

**ADVANTAGEOUS SKILLS REQUIREMENTS**:

- Experience in a production environment would be advantageous
- Knowledge of Business Intelligence (BI) systems or methods would be advantageous
- Knowledge of APDP and Customs acts would be advantageous
- Analytical skills with creativity and initiative
- Ability to work under pressure and meet tight deadlines with minimum supervision
- Ability to deal with varied tasks at the same time without losing sight of the big picture
- Problem-solving skills - develops and establishes an own position when solving problems

**WHICH QUALIFICATIONS/EXPERIENCE DO WE NEED FOR THE ROLE?**

CIMA or Chartered Accountant (SA) with at least 2 years experience in a manufacturing environment

WHAT WILL BE YOUR ROLE AND RESPONSIBILITIES?
- Ensure that all inventories are accounted for correctly in terms of IFRS;
- Considering and managing tax risk associated with inventory;
- Complete month-end/quarter-end/year-end procedures related to inventory;
- Complete month-end reporting/quarter-end reporting related to inventory (split of inventory balance, disclosure checklist etc.);
- Ensure all off-site stock is reported monthly to BMW ZA insurance department to ensure adequate insurance of stock;
- Calculate and post stock provisions. Assess the need for additional provisions to address identified risks;Prepare general ledger reconciliations on a monthly basis. Identify items requiring follow up - ensure
- such items are cleared from the reconciliation (e.g. aged items). Clear any review notes on the reconciliations;
- Preparation of reports and reporting to business counterparts the monthly results (e.g. monthly DI reporting);
- Ensure cycle/stock counts are performed regularly on all relevant areas to manage inventory risk and as required by group policy or process;
- Analyze stock adjustments on a monthly basis for reasonableness and to identify potential process flaw or discipline lapses;
- Assess internal control compliance, identify risks and follow up with business in terms of implementation of mitigating controls. Assist with internal control testing;
- Liaise with the external auditors on inventory-related topics;
- Arrange the year-end inventory counts (together with the auditors) for inventory balances;
- Calculation and agreement of DIO (days inventory on hand) targets for Plant 9 during reporting periods
- (quarter-ends, forecast, budget, year-end). Steer business towards achievement of DIO target;
- Regular meetings at least once a month with material planners to determine potential obsolescence due to changes in business & resulting calculations;
- General review of stock balances to identify any anomalies requiring follow up for example:

- Monitor and investigate moving average price movements and investigate large differences to ensure
- stock valuation is not compromised;
- Review of cycle count reports to identify potential financial or process risk;
- Obtain an understanding of all stock locations and monitor data associated with the locations for
- anomalies. Also query, review or create controls around locations used for outside of acceptable
- process reasons, e.g. lost and ageing as control; Set up KPI’s for locations as required to manage and steer inventory risks.
- Review data quality relating to stock and look for anomalies in data and missing SMI data, errors in
- valuation classes of parts and other which do not align with the expected as discussed and agreed
- with TV-3-R-x;
- Ad-hoc projects as required.

**Job Types**: Full-time, Permanent, Temporary, Graduate
Contract length: 24 months

Pay: R10 000,00 - R25 000,00 per month

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