In this role, the candidate will be having responsibilities of Inventory, Cost Variance, Fixed Assets and Financial Controls. The ideal candidate will have the flexibility, cross functional communication skills, and the ability to adapt and learn independently in the team-oriented and innovation focused culture of the Molbio Diagnostics Limited.
The candidate will be responsible for the following :
1) Inventory:
- Ensure accurate costing, compliance and valuation of Inventory, Consumables, Stores and Spares as per Ind AS
- Monthly/Quarterly/yearly Scrutiny, COGS analysis, closure and coordinate with production, stores, QC teams and other teams
- Ensure accurate standard costing / actual costing of production, including material, labour, and overhead absorption
- Prepare inventory ageing, monitor slow/non moving, obsolete, and rejected/scrap inventory create provisions as per policy
- Strengthening the controls and adhere to RCM of relevant areas.
- Prepare production variances — material usage/price variance, yield variance, and overhead absorption variance
- Coordinate physical stock verification and Investigate stock variances, root-cause analysis with concerned teams
- Ensure BOM (Bill of Materials) accuracy in SAP for correct costing and consumption accounting
- Ensure controls over GRN, material issue (SFG/RM), stock transfers between plants, and bonded/warehouse stock
2) Fixed Assets:
- Maintain the Fixed Asset Register (FAR), ensure correct classification, useful life (as per Companies Act / Ind AS 16)
- Accurate and Timely recording of Fixed Assets, CWIP, Retirement, Scrap/Sale and closure of completed capital projects
- Coordinate physical verification with tagging and Investigate variances, root-cause analysis with concerned teams
- Strengthening the controls and adhere to RCM of relevant areas
- Monthly/Quarterly. Yearly Closing of Fixed Assets including Depreciation calculation.
- Track and account for repairs vs. capital expenditure (revenue vs. capital classification)
3) General Finance & Compliance:
- Prepare cost sheets, Inventory & FA MIS and variance analysis for plant/corporate management review
- Preparation of Data and schedules for Statutory, Tax, IFC and Internal Audit
- Drive automations and improvements/ upgrades in ERP and its inbuilt controls for inventory and asset accounting and reporting.
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