Inventory Cost Accounting Supervisor

About the role

The Inventory Cost Accounting Supervisor oversees the accuracy of inventory records and accounting—inventory reporting, cycle counting, requisitioning material, and inventory adjustments.

Essential Job Responsibilities

• Ensure proper physical inventory or A-B-C cycle counts are performed at all domestic and select international locations.
• Review transaction history to investigate cycle count variances and resolve any issues.
• Reconcile book and perpetual inventories for all companies/divisions.
• Prepare timely reports of forecasted and actual variances (actual versus budget) relating to inventory levels and adjustments.
• Assess and review manufacturing variances in the bills of materials for items that show recurring inventory discrepancies, identify root causes and trends, provide recommendations for correction, and relay this information to the appropriate parties through verbal and written communication.
• Perform all month end duties surrounding inventory, timely and accurately, in order to ensure accurate financial and management reporting.
• Analyze excess and obsolete inventories as well as contribute to the inventory liquidation process.
• Assist with calculation of the annual LIFO reserve.
• Compile and analyze information used to develop components of item standard costs; may assist in coordinating the information compiled and analyzed by others in order to meet critical deadlines.
• Assist in the preparation of the annual budgets for manufacturing plants and support departments; provide analytical support and documentation as needed to help facilitate the budgeting process both before and after budgets are established.
• Prepare inventory-related audit schedules and actively support the annual financial statement audit through timely responses to auditor inquiries and delivery of supporting documentation.
• Assist the Senior Cost Accounting Manager with duties as assigned.

Supervisory Responsibilities/Direct Reports

Supervise Inventory Specialists at various locations within the Company.

Qualifications

• 5+ years of experience in inventory management with supervisory responsibility.
• Bachelor's degree with a major in accounting or equivalent related experience.
• Prefers Bachelor’s degree with a major in accounting and a CPA or CMA certification.
• A strong self-starting individual with tenacity, a sense of purpose, and a resourceful and collaborative attitude.
• A consistent pattern of seeking out and successfully completing projects, digging to determine root causes and finding solutions, and serving as a collaborative business partner with other functional areas.
• Very strong analytical and problem-solving skills and a broad technical background.
• Very good oral and written communication skills for dealing with all levels within the organization.
• Ability to perform advanced excel functions such as pivot tables, filters, sorting, complex formulas, and graphs.
• Experience in JDE or other ERP systems and the ability to create ad hoc financial reports using a database report writing tool are preferred.
• Ability to supervise and provide direction to direct reports.