Combining finance and operations management at Sigachi entails overseeing both the financial aspects and the logistical processes involved in the distribution of our ingredients. Here's a breakdown of the responsibilities:
- Prepare and manage financial budgets, forecasts, and financial reports.
- Monitor financial performance and analyze variances against budgets and forecasts.
- Manage accounts payable and receivable, ensuring timely payments and collections.
- Coordinate with accounting staff to ensure accurate recording of financial transactions.
- Conduct financial analysis to identify cost-saving opportunities and improve profitability.
- Budgeting and Forecasting:
- Develop annual budgets in collaboration with senior management.
- Monitor actual performance against budgeted targets and provide regular updates to management.
- Forecast future financial performance based on industry trends, market conditions, and company-specific factors.
- Cost Management:
- Monitor and analyze costs related to ingredient procurement, warehousing, transportation, and distribution.
- Identify opportunities to optimize costs while maintaining quality standards.
- Implement cost control measures to improve profitability and efficiency.
- Cash Flow Management:
- Manage cash flow to ensure sufficient liquidity for daily operations and strategic investments.
- Monitor receivables and payables to optimize cash conversion cycles.
- Develop strategies to mitigate cash flow risks and maximize cash reserves.
- Financial Compliance:
- Ensure compliance with relevant accounting standards, tax regulations, and industry-specific regulations.
- Prepare and file accurate tax returns in accordance with local and national tax laws.
- Implement internal controls to safeguard financial assets and prevent fraud.
- Oversee the day-to-day operations of ingredient distribution, including procurement, inventory management, and logistics.
- Optimize supply chain processes to ensure efficient and timely delivery of ingredients to customers.
- Monitor inventory levels and implement strategies to minimize stockouts and excess inventory.
- Manage relationships with suppliers and negotiate contracts to ensure favorable terms and pricing.
- Implement quality control measures to ensure the integrity and safety of ingredients during storage and transportation.
- Develop and implement inventory control policies and procedures to optimize inventory levels and minimize carrying costs.
- Conduct regular inventory audits to reconcile physical inventory with system records.
- Analyze inventory turnover rates and identify slow-moving or obsolete inventory for disposal or liquidation.
- Work with suppliers and customers to manage lead times and order quantities effectively.
- Coordinate transportation logistics to ensure timely delivery of ingredients to customers while minimizing transportation costs.
- Monitor delivery schedules and track shipments to address any delays or issues.
- Optimize routing and scheduling to improve efficiency and reduce transportation time and costs.
- Ensure compliance with regulatory requirements and safety standards for transportation and storage of ingredients.
- Supply Chain Optimization:
- Identify opportunities to streamline supply chain processes and improve operational efficiency.
- Implement & leverage technology solutions, such as inventory management systems or enterprise resource planning (ERP) software, to automate and optimize operations.
- Collaborate with suppliers and customers to implement demand forecasting and planning processes to ensure adequate inventory levels.
- Identify and assess operational and financial risks, such as supply chain disruptions, market fluctuations, and regulatory compliance issues.
- Develop risk mitigation strategies to minimize the impact of potential risks on the business.
- Implement internal controls and procedures to safeguard assets and prevent fraud.
- Collaborate with senior management to develop strategic plans and initiatives to drive business growth and profitability.
- Provide financial analysis and insights to support decision-making on investments, expansion opportunities, and market trends.
- Evaluate the financial and operational feasibility of new initiatives and business ventures.
- Team Leadership and Development:
- Provide coaching, training, and professional development opportunities to enhance team performance and capabilities.
- Foster a collaborative and supportive work environment to promote teamwork and employee engagement.
By effectively managing both the financial and operational aspects of the company, the Finance & Operations Manager plays a crucial role in ensuring efficiency, profitability, and customer satisfaction.