Costing and Inventory Manager
Arabian oud
مجموع سنوات الخبرة :17 years, 6 أشهر
Lead a team of 6 persons in order to guide for the ongoing day to day operation to achieve objectives of the financial department.
Plan, organize and direct all the activities of the cost accounting and inventory control functions.
Manage day to day operations of the existing cost accounting function from management of current rates to monthly close and analysis
Review goods receipt note (landed cost documents) for all incoming shipment of RM and FG .
Price list review on timey basis with changes in costs/margin by channel/market wise
Handling item master and regular update of new codes.
Evaluation of inventory provision for each period-end to assess the adequacy of inventory provision as per slow moving inventory policy.
Coordinate with IT department for system issues, maintenance and development such as production, purchasing, import/export, accounts payable, accounts receivable, import/export IT, receiving, shipping, and other.
Develop new, robust processes to drive productivity in the cost accounting function
Perform the monthly closing activities including preparation of the cost to operate statement along with supporting analysis
Assist with the coordination and deliverables for quarterly reviews and annual audits performed by internal and external auditors
Prepare ad hoc reporting and analyses and assist team with research on cost accounting questions and assist with special projects as requested.
Proactive analysis of variances and communication of issues and opportunities to operations management
Develop metrics and tracking system for major cost drivers
Define policies and procedures for all cost accounting activities
Calculate COGS & Profitability Report monthly and reported to management.
Compare STD Cost with Actual Cost and calculate variance monthly.
Revise purchase Requests and approve Account Assignment for General ledger Accounts and cost center.
Coordinate weekly physical counting for branches and the year-end and mid-year physical inventory counts for factories
Investigate physical counting and resolve issues.
•Responsible for recording company’s creditors and vendors which belong to fixed assets and (operating & administrative & marketing& branches expense).
•Review new vendors contracts (Prices & Terms).
•Review Processing of AP invoices on Exact & Communicating with treasury to ensure settlement of all payments & maintain new supplier's additions process.
•Review bank reconciliation & clear outstanding AP reconcile items & Supply AP relative analysis required at month end review.
•Handling Fixed assets additions& Depreciations & disposals.
•Expenses Analysis by Account & Branch & Cost centers at the month end
Lead payable team in order to guide for the ongoing day to day operation to achieve objectives of the financial department.
Review day to day account payable (local & foreign) in all operations in all areas; PO and Non PO invoice, payment holds, payment cycles, payment processing, expense reimbursement and vendor account reconciliations.
Develop supplier /vendor relationship to quickly resolve payment issues, create and execute payment strategy ( PP ) .
Ensue all invoices have appropriate documentations and approval prior to payment.
Review payments checks & transfers.
Assist with monthly closing process and communication with the accounting department and assist for releasing financial statement
Conduct the month end close activities.
Manage Payable function (VAT, WHT, Customs report)
Maintain payable reports ( supplier balances, advanced payment, Aging, DPO )
Helping in the preparation of budget and monthly cash flow
Perform cost statements for each product and contract, in addition to covering materials and tests costs.
•Determine cost centers and measure profit or loss for each. - Compare actual costs to estimated and analyze variances.
•Analyze and monitor raw material inventory. Analyze actual manufacturing costs and prepare reports periodically comparing budget costs to actual costs (including product margin report and analysis).
•Responsible of maintain the inventory system integrated and standardized. Assist in preparing sales price list, and decide if the deals with customers are profitable or not.
•Handling & controlling all the company’s cost items.
•Calculate monthly & yearly forecasted product cost based on monthly & budget sales plan.
•Calculate percentage of manufacturing cost in order to allocate it to the item cost of finished product (product by production line).
•Monthly cost closing & posting module to GL (inventory valuation & COGS).
•Prepare necessary reports & analysis based on the external auditors (KPMG) requirement’s.
Handling & controlling all the company’s cost items.
Monitoring the warehouses operations
Daily check and review purchase orders prices on NAV through checking daily received orders.
Check and review Bill of Materials.
Performing a physical inventory count on a monthly basis
NAV Software Applications ( User )
Aiding in the closing process by finalizing and posting the cost module to the General ledger & Trial balance.
Analyzing Monthly material Cost Variance in terms of Price , Usage and efficiency Variance
Consumption Variance analysis & Weekly Sales report analysis.
■review invoices and check requests
■sort and match invoices and check requests
■set invoices up for payment
■process check requests
■prepare and process accounts payable checks, wire transfers and ACH payments
■reconciliation of payments
■prepare analysis of accounts
■monitor accounts to ensure payments are up to date
■resolve invoice discrepancies
■vendor file maintenance
■correspond with vendors and respond to inquiries
■produce monthly reports
■assist in month end closing
1-Check the balances of the warehouses.
2-Daily check and review purchase orders prices on oracle through checking daily received purchased orders.
3-Check the daily booking.
4-Check the quantities of all warehouses (raw-materials, pack, spare-parts, sundry, advertising)
5-Perform the monthly physical count for all warehouses.
6-Issued suppliers vouchers and prepare and expenses vouchers.
7-Monthly advanced payment analysis
8-Calculate and allocate cost for both (local& export) sales of finished goods
9-Import costing to JL and transfer it to trial balance
10-Add hock issues.
11-Reporting to financial manager (about wastage variance).
12-All works are done by using oracle applications.
Working at cost section:
1-Monitoring the issuing and receiving transaction of warehouses-keepers
2-Following the process of job orders.
64.8% = pass *Accounting Principles & Intermediate Accounting & Cost Accounting *Economics & Business. *Specialized Accounting system *Advanced managerial Accounting system.