Inventory Controller

Hungry Lion; Stellenbosch; On-site; ZAR 300 000 - 400 000; Full time

Job summary

A food distribution company in South Africa seeks an Inventory Controller. This role involves managing inventory accuracy, overseeing financial reporting of stock, and ensuring compliance with IFRS standards. The ideal candidate has a degree in accounting, 2-3 years of inventory accounting experience, and proficiency in ERP platforms such as SAGE X3. Strong analytical skills and attention to detail are essential.

Qualifications

• 2-3 years’ experience in inventory accounting within a manufacturing or distribution environment.
• Proficiency in Excel and ERP platforms.

Responsibilities

• Review and reconcile all stock-related general ledger accounts.
• Prepare and review monthly stock reports.
• Coordinate and oversee periodic stock counts.
• Review and approve stock-related transactions.
• Provide financial insights to management on stock utilization.

Skills

Inventory accounting principles

ERP systems

Analytical mindset

Collaboration skills

Knowledge of IFRS for SMEs

Education

Bachelor’s degree in accounting or Finance

Professional qualification (CA(SA), CIMA)

Tools

Microsoft Excel

SAGE X3

Job description

Purpose of the Role

The Inventory Controller is responsible for ensuring the accuracy, integrity, and completeness of all financial records relating to inventory held in the company’s warehouses (there are warehouses situated in various countries, including South Africa, China and Zambia). This includes overseeing the financial reporting of stock, validating stock movements, and ensuring that stock transactions are properly processed, reconciled, and reflected in the accounting system.

Key Responsibilities

1. Stock Accounting and Financial Reporting
   • Review and reconcile all stock-related general ledger accounts to ensure accurate valuation and reporting of inventory balances. This will be reconciled to the stock valuation report.
   • Ensure that stock movements (purchases, transfers, issues, and sales) are correctly captured in SAGE X3, through liaising with the various stakeholders.
   • Prepare and review monthly stock reports, including valuation adjustments, write-offs, and provisions for obsolete or slow-moving stock.
   • Ensure compliance with IFRS for SMEs and company accounting policies in the treatment and presentation of inventory.
2. Stock Verification and Control
   • Coordinate and oversee periodic stock counts (cycle counts and full physical counts) across warehouse locations and ensure the system reflects their physical counted quantities.
   • Review stock count results, investigate variances, and ensure corrective actions are implemented.
   • Monitor stock adjustments to identify unusual patterns or control weaknesses.
   • Maintain and enhance internal controls over stock management and reporting processes.
3. Transaction Processing Oversight
   • Review and approve stock-related transactions such as purchase orders, goods received notes, and sales orders to ensure proper financial documentation.
   • Verify that all stock purchases and issues are appropriately authorised and supported by valid documentation.
   • Liaise with procurement, sales, and logistics teams to resolve discrepancies in stock processing and documentation.
4. Analysis and Management Support
   • Analyse gross margins and stock-related variances to support business decision-making.
   • Provide financial insights to management on stock utilisation, turnover, and valuation trends.
   • Support external and internal audit requirements related to stock accounting.
5. Systems and Process Improvement
   • Participate in process reviews and system enhancements to improve accuracy and efficiency in stock management.
   • Support the implementation of best practices in stock accounting, reporting, and internal control.

Key Competencies

• Strong understanding of inventory accounting and valuation principles (FIFO, weighted average, NRV tests)
• Solid working knowledge of ERP systems and stock management modules.
• Analytical mindset with attention to detail and problem-solving ability.
• Ability to collaborate effectively with cross-functional teams (finance, warehouse, procurement).
• Sound knowledge of IFRS for SMEs and internal control frameworks.

Qualifications and Experience

• Bachelor’s degree in accounting, Finance, or equivalent.
• Completed articles or studying toward a professional qualification (CA(SA), CIMA, or similar) advantageous.
• Minimum of 2–3 years’ experience in inventory accounting or cost accounting within a manufacturing, retail, or distribution environment.
• Proficiency in Microsoft Excel and ERP platforms (e.g. SAGE X3).