IT’SUGAR

Position Title: Inventory Controller

Reports to: Controller

Location/Department: Fort Lauderdale/Finance

Summary

The Inventory Controller position will be responsible for establishing and maintaining proper controls and reporting for inventory throughout the IT’SUGAR retail operation platform. The position is specifically responsible for the overall inventory control structure, including controls over procurement, receiving, and physical verification of inventory and ongoing processes for reporting on and monitoring inventory balances to ensure inventory risks are properly reported and communicated. The role will work cross-functionally with Planning, Merchandising, Retail Operations, Information Technology, and Finance to mitigate risks and improve overall accuracy of the company’s reporting on inventory balances. This role requires an individual with (i) a solid understanding of the inventory cycle, including key physical and financial controls, and inventory ERP systems, (ii) an ability to analyze business flows, establish processes, and identify solutions when variances are identified, (iii) a fervent attention to detail, (iv) problem-solving and organizational skills, and (v) analytical and reporting capabilities. This individual must also thrive in a dynamic, fast-paced and high-energy environment. This role will report to the IT’SUGAR Controller and support the Finance organization and its broader objectives.

Specific Duties, Activities and Responsibilities

· Develop, implement, and maintain inventory control procedures across the organization (including process narratives, flowcharts, and responsibility matrices) to ensure the accuracy of inventory records, reduce inventory shrink, and assist the Planning team in the optimization of inventory levels.

· Maintain accurate inventory balances in the company’s accounting systems (including its point-of-sale sale system) by conducting ongoing analysis of records to identify errors related to completed transactions and correcting identified errors.

· Work cross-functionally with the Planning, Merchandising, and Retail Operations teams to (i) ensure compliance with established inventory control procedures across the organization, (ii) perform root cause analyses of inventory variances, and (iii) implement any necessary process changes (development of new processes, training, system updates, etc.) to correct such variances and prevent such variances from recurring.

· Evaluate current processes and identify, propose, and implement process improvements (both external and internal) to the inventory control platform to simplify and streamline existing processes and improve reporting.

· Develop and maintain an intimate knowledge of processing and reporting inventory transactions in the company’s accounting systems (including its point-of-sale sale system) and ensure that individuals throughout the organization are knowledgeable of elements of the system for which they are responsible.

· Establish inventory reporting techniques aimed to identify variances, reduce receiving errors, and assist in the identification of expired or slow-moving inventory.

· Plan and execute the annual physical inventory count process to ensure efficient and accurate counts and perform a thorough analysis of inventory results. Identify key variances and recommendations to improve inventory control processes.

· Develop and implement a process for performing physical inventory cycle counts on a periodic basis throughout the year.

· Document and comply with all internal control procedures, including SOX controls, and provide internal and external auditors with timely and accurate information during quarterly and year-end audits.

· Ensure accurate receipt of inventory at retail stores.

· Create ad-hoc reports as necessary.

· Become the liaison to our shipping courier for all communications and updates.

· Perform other duties as required or assigned.

Job Requirements

1 – Minimum Formal Education:

· Bachelor’s degree in a related field with preference for a degree in business administration or supply chain management.

2 – Minimum Experience:

· Minimum Seven (7) years of experience in distribution and inventory management and warehouse operations.

· An emphasis on inventory and quality control in a multi-outlet retail and distribution environment is highly preferred.

· ERP system implementation is preferred.

3 – Essential Training, Knowledge:

· Knowledge of inventory management systems.

· Ability to analyze data for multiple purposes, such as forecasting, analysis, and identifying potential weaknesses.

· Knowledge of industry best practices in inventory control and supply chain management.

· Ability to utilize software programs to access data necessary to perform functions.

· Ability to utilize software programs and applications used in financial reporting, primarily Excel or Power BI.

· Able to work across multiple groups to drive performance.

4 – Essential Professional

Skills/Competencies:

· Excellent organizational skills with acute attention to details and accuracy.

· Effective time management skills with the ability to multi-task.

· Ability to analyze business flows, establish processes, and identify solutions

· Excellent verbal and written communication skills.

· Excellent analytical skills.

General Statement Performs the job assigned complying with Company policies and procedures, business code of ethics, FLSA regulations and all applicable laws, as well as ensuring confidentiality, reliability, quality, and productivity. This job description indicates in general the nature and levels of work, knowledge, skills, abilities and other essential functions expected of an incumbent. It is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities required of an incumbent. An incumbent may be asked to perform other duties as required.

Job Type: Full-time

Pay: $130,000.00 - $160,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• Monday to Friday

Experience:

• Financial planning and analysis: 5 years (Preferred)
• Financial report writing: 4 years (Preferred)
• Public accounting: 5 years (Preferred)
• Private equity: 2 years (Preferred)
• Cash flow analysis: 4 years (Required)

Work Location: Hybrid remote in Fort Lauderdale, FL 33301