Inventory Controller

Location: Long Island City, NY
Work Arrangement: Hybrid
Compensation: Up to $225,000, based on experience
Employment Type: Full-Time

Position Overview

Inventory Controller

Our client is seeking a highly experienced Inventory Controller to oversee inventory accuracy, controls, valuation, and financial reporting. This position will serve as a key partner to Finance, Accounting, Purchasing, and Operations, ensuring inventory information is accurate, well-supported, and aligned with financial reporting requirements.

The ideal candidate will have a strong background in inventory accounting, cost accounting, inventory controls, reconciliations, and financial analysis
, along with the ability to investigate variances, identify root causes, and recommend process improvements.

This is a hands-on role for someone who is comfortable working with detailed transactional data while also providing management with meaningful analysis and recommendations.

Key Responsibilities

• Own the accuracy and integrity of inventory records and related financial information.
• Develop and maintain effective inventory control procedures and processes.
• Perform detailed reconciliations between inventory records and physical quantities.
• Investigate inventory variances and identify underlying causes.
• Review transactions related to receiving, shipments, transfers, returns, adjustments, and other inventory activity.
• Establish and monitor cycle-count processes and inventory accuracy metrics.
• Coordinate and oversee periodic physical inventory counts.
• Ensure inventory transactions are recorded accurately and in the appropriate accounting period.
• Identify recurring issues and recommend improvements to inventory processes and controls.

Inventory Costing & Valuation

• Maintain a strong understanding of inventory costing and valuation methodologies.
• Review and analyze inventory costs and changes in cost assumptions.
• Evaluate purchase costs and other components that contribute to inventory valuation.
• Investigate unusual or significant cost fluctuations.
• Analyze inventory valuation and identify potential reserve or adjustment requirements.
• Understand the relationship between inventory costing, COGS, gross margin, and overall financial performance.
• Ensure inventory valuation schedules and supporting documentation are accurate and audit-ready.

Cost Variance & PPV Analysis

• Oversee reporting and analysis related to purchase price and other inventory cost variances.
• Analyze cost variances by vendor, product, item, purchase order, and other relevant factors.
• Investigate significant fluctuations and determine the business drivers behind them.
• Identify whether variances are related to purchasing activity, standard costs, receiving, invoicing, system setup, or other factors.
• Partner with Purchasing and Finance to resolve recurring costing issues.
• Communicate significant cost variances and their impact on profitability to management.
• Identify opportunities to improve purchasing and cost-control processes.

Accounting & Reconciliations

• Reconcile inventory-related general ledger accounts and supporting schedules.
• Research differences between operational systems and financial records.
• Prepare inventory-related schedules and supporting documentation for month-end close.
• Review inventory journal entries and adjustments for accuracy and completeness.
• Partner with Accounting and Finance to ensure inventory balances and COGS are properly stated.
• Provide support for internal and external audits, including reconciliations, valuation documentation, physical count results, and variance explanations.

Physical Inventory & Cycle Counts

• Maintain a structured physical inventory and cycle-count program.
• Coordinate the reconciliation of physical counts to system records.
• Investigate significant inventory differences and determine root causes.
• Ensure inventory adjustments are properly documented, reviewed, and approved.
• Monitor inventory discrepancies for trends that may indicate process or control issues.
• Work with warehouse and operational teams to improve inventory accuracy.

Reporting & Analysis

• Develop and maintain inventory reporting and analytical tools.
• Analyze large data sets to identify trends, discrepancies, anomalies, and opportunities for improvement.
• Provide management with reporting and analysis related to:
• Inventory accuracy
• Inventory variances
• Inventory turns
• Slow-moving and obsolete inventory
• Cost variances / PPV
• Inventory valuation
• Inventory adjustments
• Cost changes
• Inventory reserves
• Go beyond reporting results by identifying the…