IC27J Inventory Controller (Advanced)

SUMMARY:
Are you a detail-oriented professional with advanced expertise in inventory management and control? Do you thrive in roles that require optimizing inventory processes and maximizing efficiency? We are seeking a dedicated individual to join our team as a Specialist – Inventory Controller (Advanced). In this critical role, you will be instrumental in managing our inventory operations at an advanced level, implementing strategic initiatives to enhance accuracy, minimize costs, and ensure optimal stock levels. If you're ready to contribute your specialized skills to a dynamic team, we invite you to explore this exciting opportunity further.

POSITION INFO:
WHICH QUALIFICATIONS/EXPERIENCE DO WE NEED FOR THE ROLE?
CIMA or Chartered Accountant (SA) with at least 2 years experience in a manufacturing environment

ESSENTIAL SKILLS REQUIREMENTS

• Experience with SAP
• Proficient in using the Microsoft Office programs and advanced excel skills
• Accounting (Current IFRS requirements) related to inventory accounting
• Knowledge of the Income Tax Act related to inventory
• Attention to detail
• Good interpersonal skills - communicates appropriately and considers the counterparts’ level of knowledge
• Able to liaise and work with various levels of management, fellow colleagues and BMW AG personnel

• Experience in a production environment would be advantageous
• Knowledge of Business Intelligence (BI) systems or methods would be advantageous
• Knowledge of APDP and Customs acts would be advantageous
• Analytical skills with creativity and initiative
• Ability to work under pressure and meet tight deadlines with minimum supervision
• Ability to deal with varied tasks at the same time without losing sight of the big picture
• Problem-solving skills - develops and establishes an own position when solving problems

• Ensure that all inventories are accounted for correctly in terms of IFRS;
• Considering and managing tax risk associated with inventory;
• Complete month-end/quarter-end/year-end procedures related to inventory;
• Complete month-end reporting/quarter-end reporting related to inventory (split of inventory balance, disclosure checklist etc.);
• Ensure all off-site stock is reported monthly to BMW ZA insurance department to ensure adequate insurance of stock;
• Calculate and post stock provisions. Assess the need for additional provisions to address identified risks;
• Prepare general ledger reconciliations on a monthly basis. Identify items requiring follow up – ensure such items are cleared from the reconciliation (e.g. aged items). Clear any review notes on the reconciliations;
• Preparation of reports and reporting to business counterparts the monthly results (e.g. monthly DIO reporting);
• Ensure cycle/stock counts are performed regularly on all relevant areas to manage inventory risk and as required by group policy or process;
• Analyze stock adjustments on a monthly basis for reasonableness and to identify potential process flaws or discipline lapses;
• Assess internal control compliance, identify risks and follow up with business in terms of implementation of mitigating controls. Assist with internal control testing;
• Liaise with the external auditors on inventory-related topics;
• Arrange the year-end inventory counts (together with the auditors) for inventory balances;
• Calculation and agreement of DIO (days inventory on hand) targets for Plant 9 during reporting periods (quarter-ends, forecast, budget, year-end). Steer business towards achievement of DIO target;
• Regular meetings at least once a month with material planners to determine potential obsolescence due to changes in business & resulting calculations;
• General review of stock balances to identify any anomalies requiring follow up for example:
  • Monitor and investigate moving average price movements and investigate large differences to ensure stock valuation is not compromised;
  • Review of cycle count reports to identify potential financial or process risk;
  • Obtain an understanding of all stock locations and monitor data associated with the locations for anomalies. Also query, review or create controls around locations used for outside of acceptable process reasons, e.g. lost and ageing as control;
    • Set up KPI’s for locations as required to manage and steer inventory risks.
  • Review data quality relating to stock and look for anomalies in data and missing SMI data, errors in valuation classes of parts and other which do not align with the expected as discussed and agreed with TV-3-R-x;
  • Ad-hoc projects as required.