Sr. Manager, Inventory (Operations Finance)
Position Overview
Work closely with and serve as a liaison between Finance, Operations, Supply Chain, and Senior Leadership. Establish, direct, coordinate, and administer a plan for managing all inventory related topics for the Company, including reporting and consolidation of key indicators. Additionally, ensure that working capital is optimally invested and cost reduction projects have strong financial justification and are executed as planned. Provide support in technical accounting, forecasting, internal control, reserves, transitions, and month end activities. Drive the development of cutting-edge analytical tools to meet dynamic and evolving reporting requirements. Job duties:
- Manage monthly closing with Corporate Accounting, Operations, Supply Chain and FP&A Finance teams.
- Responsible for ensuring that inventory (and reserves) is correctly valued and controlled and all relevant Corporate Policies are applied.
- Analyze and communicate key business drivers to enable functional business leaders to effectively manage their inventory levels and provide recommendations.
- Analyze Inventory and Inventory adjustments; provide information to facilitate business reviews and set requirements from a finance perspective in a timely manner.
- Delivery of monthly business results, including in near future, performance to budget and forecast. Interpret and communicate results to senior leadership and proactively recommend opportunities to improve business results.
- Prepare the more complex month end journal entries and review and approve those journals completed by the team members.
- Drive (global) process improvements, standardization, and governance of Inventory Control processes across sites.
- Develop a cross-functional team to actively identify and mitigate inventory expired and excess risk in Raw Materials, Finished Goods, Consigned, and Trunk Stock.
- Partner with the Business Excellence team on developing a financial framework to properly evaluate and implement cost savings projects.
- Provide reporting and analytical support to the Procurement team for the PPV process.
- Lead the quarterly audit response for the Operations and Cost Accounting team.
- Comply with applicable Laws and Regulations, adhere to Quality Management System processes and requirements as well as demonstrate Ethics and Integrity in all matters and at all levels throughout the organization.
- Perform additional duties as assigned.
- Bachelor’s degree in Business Administration or Finance.
- Minimum eight (8) years of work experience in Inventory Management from a Finance, Supply Chain, or Operations perspective.
- Minimum two (2) years of management responsibility.
- Demonstrated experience in continuous improvement initiatives, root cause analysis, and project management.
- Excellent knowledge of inventory control procedures.
- Strong written and verbal communication skills.
- Proficient with MS Word, Excel, Outlook, and Teams.
- Master's degree in Business Administration or Finance.
- Ability to lead complex projects with a high attention to detail.
- Able to plan and resolve issues that involve gaining the cooperation of multiple departments and sites while maintaining good relationships.
- Ability to influence without authority and partner cross-functionally.
- Proactive and encourage continuous performance and quality improvements.
- A high degree of analytical capability with the demonstrated ability to structure business cases around a high-level strategic vision.
- Strong strategic skills, with the proven ability to identify and assess key points, implications, and recommendations.
- Understanding intercompany profit elimination accounting in the Group of entities.
- Understanding product costing processes, inventory movements, and the related accounting treatment.
- Medical device industry experience.
- Accounting/Finance experience in a manufacturing environment.
- SAP experience.