Cost & Inventory Analyst
Cost & Inventory Analyst
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Not Disclosed
Salary Not Disclosed
1 Vacancy
Job Description
The Cost and Inventory Analyst is responsible for analyzing tracking and controlling the costs associated with the organizations operations. The position also ensures efficient accounting cost effective and recording of inventory and inventory costing related transactions. The position will play a critical role in providing accurate cost information to support decision-making budgeting pricing strategies and cost optimization initiatives.
Inventory Costing and Analysis:
- Cost Analysis: Conduct in-depth cost analysis for various aspects of the organization including production projects processes and product lines. Use cost accounting methodologies to allocate costs accurately and identify cost drivers. Utilize financial data and other relevant information to identify trends patterns and areas for improvement.
- Inventory Valuation: Monitor and analyze inventory levels and ensure accurate valuation in accordance with the applicable accounting standards (e.g. GAAP IFRS). Attest in the periodic inventory counts conducted by Warehouse Department. Perform periodic inventory reconciliations and adjustments. Calculate and monitor the provision for inventory shrinkage.
- Cost of Goods Sold (COGS) Calculation: Calculate and analyze the COGS for different products and product lines. Collaborate with the production and procurement teams to track cost variances and identify cost-saving opportunities.
- Cost Estimation: Analyze data to estimate the cost of potential projects new product development or expansion initiatives assisting in making well-informed investment decisions.
- Cost Control: Collaborate with cross-functional teams to implement cost control measures and monitor their effectiveness. Identify areas for cost optimization without compromising product quality and operational efficiency.
- Cost Reporting: Prepare and present regular cost reports to management highlighting key cost drivers trends cost-saving opportunities cost control measures and actionable recommendations.
- Overhead Analysis: Analyze and allocate overhead costs to various departments or projects as applicable to determine their impact on overall costs and profitability.
- Data Integrity: Ensure the accuracy and integrity of cost data by conducting regular audits and implementing data validation processes.
Budgeting and Forecasting Support:
- Budgeting and Forecasting: Assist in the development of cost budgets and forecasts. Monitor actual costs against budgeted figures and provide variance analysis reports to relevant stakeholders.
Management Reporting:
- Management Reporting: Ensure the timely accurate and thorough preparation and submission of the detailed product costing and inventory valuation to management and related Balance Sheet schedules to support the preparation of financial statements.
- Compliance and Regulations: Ensure compliance with cost accounting standards and financial reporting regulations while performing cost analysis. Stay updated on financial regulations and industry best practices related to cost analysis and ensure adherence to relevant standards.
Process Improvement:
- Process Improvement: Continuously improve cost accounting processes methodologies and tools to enhance accuracy and efficiency. Collaborate with cross-functional teams to streamline processes reduce inefficiencies and enhance cost-effectiveness throughout the organization.
- Financial Modeling: Develop financial models to assess the impact of different cost scenarios and support strategic decision-making processes.
SAP access:
- Ensure the accurate and real-time execution of tasks related to the process/es they are responsible for including the recording of information and report generation in the designated forms and platforms (e.g. SAP)
- Integrate with other parties/ functions whose processes are interfaced with their processes (to enable alignment efficient flow of the process and effective implementation of controls)
- For detailed SAP-related tasks please refer to the attached RACI
Other Tasks:
- Performs other tasks as may be assigned by the immediate head from time to time
- Actively participate in all company programs and activities under quality improvement safety & security sustainability corporate social responsibility risk management etc
Qualifications :
Education:
A university degree holder with discipline in accounting business financeExperience:
Minimum of 1 year relevant work experience in product costing and inventory valuationLicenses:
Not ApplicableRequirements:
- Knowledge of accounting principles and procedures in relation to inventory and costing
- Ability to communicate well both written and oral
- Ability to establish effective interpersonal relationships with stakeholders
- Ability to work independently and as part of a team in a fast-paced environment
- Advance proficiency in Microsoft Excel and other financial analysis softwareDetail-oriented with strong analytical skills
Additional Information :
- Hybrid work set-up
- Willing to do field work ( Capas and Bamban Tarlac)
Remote Work :
No
Employment Type :
Full-time
Employment Type
Full-time
