Role Overview
The Inventory Controller – Finance is responsible for ensuring accurate inventory valuation, accounting, and financial control over inventory across Raw Materials, WIP, Semi Finished Goods, and Finished Foods. The role plays a critical part in financial reporting, audit compliance, cost control, and working capital management.
Key Responsibilities
Inventory Accounting & Valuation
- Ensure accurate inventory valuation in line with accounting standards (FIFO / Weighted Average, etc.)
- Monitor and validate inventory costing, including material cost, overhead allocation, and standard costing
- Review and post inventory-related journal entries
Financial Controls & Reconciliation
- Perform monthly inventory reconciliation between physical stock and books
- Investigate and resolve stock variances and discrepancies
- Ensure robust internal controls over inventory movements and adjustments
Audit & Compliance
- Support internal and statutory audits related to inventory
- Ensure compliance with accounting standards, SOPs, and internal policies
- Maintain proper documentation for all inventory transactions
MIS & Reporting
- Prepare inventory reports (aging, slow-moving, obsolete stock, provisions)
- Track and report inventory provisions and write-offs
- Provide insights on working capital optimization and inventory turnover
Business Partnering
- Work closely with supply chain, procurement, and plant teams to ensure inventory accuracy
- Systematic implementation of Perpetual Inventory process along with Stores Team
- Validate material consumption and production entries from a finance perspective
- Drive accountability for inventory losses and inefficiencies
Process Improvement
- Strengthen inventory control frameworks and SOPs
- Identify opportunities for cost optimization and reduction in excess inventory
- Drive automation and ERP best practices
Key Skills & Competencies
- Strong understanding of inventory accounting & costing principles
- Hands-on experience in SAP ECC or SAP S/4 Hana System (MM/FI/CO)
- Strong analytical and reconciliation skills
- Knowledge of internal controls, audit, and compliance frameworks
- High attention to detail and ownership mindset
Qualifications
- CA / CMA with relevant experience
Experience
- 4 + years of experience in finance roles with inventory exposure
- Experience in manufacturing environment is essential
Key KPIs
- Inventory reconciliation accuracy
- Variance closure timelines
- Inventory provision accuracy
- Audit observations (zero/low)
- Working capital improvement (inventory days)
