Inventory Controller

2 weeks ago

Stellenbosch Local Municipality, South Africa Hungry Lion Fast Foods (Pty) Ltd Full time R90 000 - R120 000 per year

Purpose of the Role

The Inventory Controller is responsible for ensuring the accuracy, integrity, and completeness of all financial records relating to inventory held in the company's warehouses (there are warehouses situated in various countries, including South Africa, China and Zambia). This includes overseeing the financial reporting of stock, validating stock movements, and ensuring that stock transactions are properly processed, reconciled, and reflected in the accounting system.

The role serves as the key link between warehouse operations and the finance department, supporting both operational efficiency and accurate financial reporting in compliance with accounting standards and internal control policies.
 

Key Responsibilities

1. Stock Accounting and Financial Reporting

Review and reconcile all stock-related general ledger accounts to ensure accurate valuation and reporting of inventory balances. This will be reconciled to the stock valuation report.Ensure that stock movements (purchases, transfers, issues, and sales) are correctly captured in SAGE X3, through liaising with the various stakeholders.Prepare and review monthly stock reports, including valuation adjustments, write-offs, and provisions for obsolete or slow-moving stock.Ensure compliance with IFRS for SMEs and company accounting policies in the treatment and presentation of inventory.

2. Stock Verification and Control

Coordinate and oversee periodic stock counts (cycle counts and full physical counts) across warehouse locations and ensure the system reflects their physical counted quantities.Review stock count results, investigate variances, and ensure corrective actions are implemented.Monitor stock adjustments to identify unusual patterns or control weaknesses.Maintain and enhance internal controls over stock management and reporting processes.

3. Transaction Processing Oversight

Review and approve stock-related transactions such as purchase orders, goods received notes, and sales orders to ensure proper financial documentation.Verify that all stock purchases and issues are appropriately authorised and supported by valid documentation.Liaise with procurement, sales, and logistics teams to resolve discrepancies in stock processing and documentation.

4. Analysis and Management Support

Analyse gross margins and stock-related variances to support business decision-making.Provide financial insights to management on stock utilisation, turnover, and valuation trends.Support external and internal audit requirements related to stock accounting.

5. Systems and Process Improvement

Participate in process reviews and system enhancements to improve accuracy and efficiency in stock management.Support the implementation of best practices in stock accounting, reporting, and internal control.


Key Competencies

Strong understanding of inventory accounting and valuation principles (FIFO, weighted average, NRV tests).Solid working knowledge of ERP systems and stock management modules.Analytical mindset with attention to detail and problem-solving ability.Ability to collaborate effectively with cross-functional teams (finance, warehouse, procurement).Sound knowledge of IFRS for SMEs and internal control frameworks.


Qualifications and Experience

Bachelor's degree in accounting, Finance, or equivalent.Completed articles or studying toward a professional qualification (CA(SA), CIMA, or similar) advantageous.Minimum of 2–3 years' experience in inventory accounting or cost accounting within a manufacturing, retail, or distribution environment.Proficiency in Microsoft Excel and ERP platforms (e.g. SAGE X3).

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