Inventory Audit Associate

The Inventory Audit Associate is responsible for conducting risk-based inventory audits to ensure the accuracy, integrity, and accountability of inventory across warehouses and retail stores. The role supports the organization's internal control framework by identifying inventory discrepancies, investigating variances, and providing recommendations that improve inventory management, operational efficiency, and compliance with company policies.

Key Responsibilities

• Conduct inventory spot checks and scheduled stock takes in warehouses and retail outlets.
• Perform physical stock counts based on assigned audit samples.
• Identify, analyze, and report inventory variances.
• Investigate stock discrepancies by reviewing inventory movements and supporting documentation.
• Verify inventory transactions and ensure compliance with inventory control procedures.
• Obtain sign-offs from responsible warehouse and retail personnel upon completion of audits.
• Prepare detailed audit reports outlining findings, root causes, and recommendations.
• Monitor the implementation of corrective actions arising from audit findings.
• Investigate and resolve inventory issues including shortages, overages, damaged, expired, and misplaced products.
• Collect and analyze inventory data in accordance with the organization's monitoring plan.
• Support continuous improvement initiatives by recommending stronger inventory controls.
• Perform any other inventory audit duties assigned by the supervisor.

Qualifications and Experience

Education

• Diploma or Bachelor's Degree in Inventory Management, Procurement and Supply Chain Management, Logistics, Accounting, Business Administration, or a related field.

Experience

• Minimum of 2 years' experience in inventory management, inventory procurement, inventory auditing, or internal auditing.
• Experience in the retail or cosmetics industry is an added advantage.

Technical Skills

• Strong knowledge of inventory management systems and inventory control procedures.
• Experience using Odoo ERP.
• Advanced proficiency in Microsoft Excel.
• Knowledge of accounting principles and record management systems.
• Ability to analyze inventory data and prepare comprehensive audit reports.

Competencies

• Strong analytical and problem-solving skills.
• High level of accuracy and attention to detail.
• Excellent report writing and documentation skills.
• Good communication and interpersonal skills.
• Integrity, professionalism, and confidentiality.
• Ability to work independently and as part of a team.
• Time management and ability to meet deadlines.

Key Performance Indicators (KPIs)

• Accuracy of inventory audit reports.
• Number of completed audits against plan.
• Reduction in inventory discrepancies and losses.
• Timely resolution of identified inventory variances.
• Compliance with audit schedules and reporting timelines.
• Quality and effectiveness of audit recommendations.

This job description clearly outlines the purpose, responsibilities, qualifications, and expectations for an Inventory Audit Associate while aligning with the responsibilities listed in the job advertisement.