Team Member, Inventory Control Finance

About the Role

Provide Finance partnership and support to the Integrated Planning business function in areas such as slow-moving inventory, purchase requisition evaluations, disposals, identifying high-risk inventory, and driving governance to minimize inventory write-offs and optimize overall inventory.

Key Responsibilities

Inventory Monitoring & Control

• Monitor slow-moving / near expiry RMPM inventory in India and ensure liquidation plans are in place to minimize inventory write-off.
• Coordinate with the planning cluster to align on slow-moving inventory targets for the year.
• Prepare and circulate slow-moving MIS, comparing cluster-wise actuals against targets and Latest Estimates (LE).
• Participate in periodic inventory performance reviews with respective clusters, ensuring reasons for slow-moving liquidation plans and timelines are available and updated in SAP.
• Prepare monthly projections for slow-moving inventory for the next 6 months, ensuring liquidation plans are available and updated in SAP.
• Highlight inventory without liquidation plans as risk inventory and discuss in respective forums to minimize inventory write-off risk.
• Monitor slow-moving / near expiry FG inventory for the export market and ensure liquidation plans are in place to minimize inventory write-off.
• Prepare and circulate monthly MIS on slow-moving / near expiry inventory.
• Discuss risk inventory with the business to ensure liquidation plans are available to minimize inventory write-off risk.
• Evaluate inventory provisions where liquidation plans are not available, align with business, and communicate to the costing team on a monthly basis.
• Monitor India RMPM COPE (Cost of Poor Execution/Inventory wastage) and participate in discussions across CFT (Cross-Functional Teams) for its reduction.
• Monitor Export Freight, checking Air Sea Mix with Planners and CFT for potential reduction in overall air freight costs.

Reporting & Analysis

• Prepare and circulate various MIS, support MOR (Monthly Operational Review) reviews, and ad-hoc analysis as required.
• Prepare and circulate monthly MIS on slow-moving RMPM, Export FG near expiry, and Consumption vs. Receipts.
• Prepare presentations on slow-moving RMPM inventory, Export FG inventory, Covid Portfolio, and high-value inventory coverage analysis for monthly operational reviews with the Global Supply Chain head.
• Drive governance through dashboards where possible to reduce man-hours.
• Prepare necessary MIS to track and monitor export freight.

Disposal & Receivables Management

• Validate disposal proposals, monitor disposal progress, and outstanding receivables.
• Evaluate all disposal proposals and liaise with procurement to get better rates and generate revenue, minimizing CoPE.
• Prepare and circulate weekly MIS on pending disposal status and drive governance meetings with planning and procurement for early disposal action.
• Review outstanding receivables due to disposal sales and follow up with stakeholders for timely collection/account clearing.
• Make recommendations for approval on disposal/destruction of inventory based on loss and provision value.

Purchase Requisition (PR) Evaluation

• Evaluate high-value purchase requisitions and assist the team lead in releasing PRs in SAP.
• Evaluate purchase requisitions based on business demand, stock in hand, and open purchase orders.
• Validate data sources of purchase requisitions raised for strategic buys/supply disruptions.
• Evaluate PRs based on MRP requirement, Open PO, and stock in hand.
• Approve PRs > 1 Cr.

Process Improvement & Automation

• Continuously evaluate existing processes, propose process simplification and automation initiatives, and drive their implementation.
• Coordinate with the IT team on automation design and ensure proper financial controls are in place.
• Act as Finance partner for various IT and SCM automation projects (e.g., Slow Moving, FG).
• Decide on the MIS/processes to be automated and finalize designs with IT.

Key Interactions

• Cluster heads, Unit planners, Unit Stores.
• Business Unit, Procurement & Planning teams for Inventory optimization.
• SAP, IT teams (need-based) for IT development of SCM and simplification projects.
• SCC Team Members.
• External Consultants (Addressing need-based Data-related, SAP-related queries).
• Statutory Auditors.

Dimensions

• Monitor slow-moving RMPM inventory worth INR 300 Cr across India.
• Monitor FG inventory for export BU worth 250-300 Cr.
• Processing ~150-200 Disposal transactions amounting to ~43-50 Cr.
• Approval of PR > 1 Cr - ~ 450 PR.
• Controlling RMPM inventory lying at 150 locations.
• Controlling India RMPM COPE.
• Monitoring Air Sea Mix and keeping a close check on Export Freight Cost.

Key Decisions

• Disposal evaluation.
• PR approval.
• Process Simplification and automations.
• Recommendations for approval on disposal/destruction of inventory.
• PR evaluation.
• MIS/Process automation decisions and design finalization.

Requirements & Tech Stack

• Computer Proficiency in Excel, Statistical Analysis software’s, and PowerPoint.

Qualifications

• Qualified CA / ICWA / MBA.
• Relevant Work Experience: 0-3 years of work experience in the field of finance, preferably in Operations/SCM/Business Finance.