Senior Executive - Stock And Inventory

Role & responsibilities

A. Inventory and Stock Management

• Maintain accurate inventory records for raw materials, semi-finished goods, finished goods, consumables, and packing materials across all factories and warehouse locations.
• Record and monitor all stock receipts, issues, transfers, returns, and adjustments in the ERP system on a daily basis.
• Ensure inventory transactions are entered accurately and promptly to maintain real-time stock visibility.
• Reconcile physical stock with ERP records and investigate discrepancies.
• Monitor stock levels and report shortages, excess inventory, slow-moving materials, and obsolete stock to management.
• Verify supporting documents for inward and outward stock movements and maintain proper records.
• Coordinate with Production, Purchase, Stores, Dispatch, and Accounts departments to ensure inventory accuracy.

B. Stock Conversion and ERP Transactions

• Record and validate stock conversion entries in ERP for all manufacturing units.
• Monitor the conversion of raw materials into semi-finished and finished goods based on approved production records.
• Ensure accurate accounting of material consumption, production output, wastage, and by-products.
• Verify units of measurement, quantities, and stock valuations during all conversion processes.
• Review and validate conversion entries to eliminate duplicate, incorrect, or unauthorized transactions.
• Maintain complete documentation supporting inventory conversion and production activities.

C. Inventory Reconciliation and Control

• Conduct periodic stock reconciliation between physical inventory and ERP balances.
• Investigate inventory variances and coordinate corrective actions with relevant departments.
• Perform cycle counts and support annual stock verification exercises.
• Monitor inter-factory and warehouse stock transfers and ensure receipt and dispatch quantities are accurately accounted for.
• Maintain effective inventory control procedures to minimize stock discrepancies and inventory losses.

D. Reporting and Analysis

• Prepare daily, weekly, monthly, and periodic inventory reports for all locations.
• Generate reports on stock balances, stock movements, material consumption, production output, and inventory valuation.
• Prepare consolidated inventory reports for management review.
• Analyze inventory trends and highlight slow-moving, non-moving, excess, and shortage stock.
• Provide inventory-related information and reports to Finance, Audit, and Management teams as required.
• Maintain inventory dashboards and MIS reports for effective decision-making.

E. Audit and Compliance

• Maintain inventory records in compliance with company policies and audit requirements.
• Support internal, statutory, and external audits by providing accurate inventory records and supporting documentation.
• Ensure adherence to inventory control procedures and established documentation standards.
• Assist in implementing process improvements to strengthen inventory accuracy and operational efficiency.