Inventory Control Analyst

BASIC PURPOSE The Inventory Cost Analyst will play a critical role in managing and analyzing inventory costs, ensuring accurate financial reporting, and supporting decision-making processes within our retail operations. Your primary responsibilities will include overseeing inventory costing processes, conducting regular analyses of inventory transactions, preparing financial reports, and collaborating with cross-functional teams to optimize inventory control procedures. ESSENTIAL DUTIES AND RESPONSIBILITIES • Manage and oversee inventory costing processes, including standard costing and inventory valuation. • Conduct regular analyses of inventory transactions and adjustments to ensure accuracy and adherence to accounting standards. • Collaborate with cross-functional teams to coordinate, reconcile and investigate physical inventory counts and variances with financial records. • Prepare and analyze inventory-related financial reports, including variance analysis and trend analysis. • Monitor and report on inventory levels, aging, and slow-moving items to support inventory management decisions. • Assist in the month-end and year-end close processes related to inventory, including preparing journal entries and reconciliations. • Develop and maintain inventory cost models and ensure consistency across all inventory-related activities. • Implement and improve inventory control procedures to enhance accuracy and efficiency in inventory management. • Provide insights and recommendations to management on cost-saving opportunities and inventory management strategies. • Ensure compliance with accounting policies, procedures, and internal controls related to inventory. • Reconcile and approves cost and quantity variances at PO and invoice level.