Finance Manager – Factory Operations

Company Overview

Company details are not provided.

Job Summary

The Finance Manager for Factory Operations is responsible for overseeing financial operations within the factory setting. This role is crucial for the organization’s ability to optimize costs, ensure compliance with statutory requirements, and maintain robust financial controls. The Finance Manager will contribute to the overall efficiency and effectiveness of factory operations.

Responsibilities

• Develop and implement Standard Operating Procedures (SOPs) for all factory operations.
• Monitor inventory movement from fabric to finished goods, ensuring accuracy in both physical Goods Receipt Note (GRN) and ERP entries.
• Oversee inter-warehouse (WH) movements to ensure efficiency in operations.
• Ensure accurate reporting of business requirements and fulfillments to minimize revenue loss.
• Analyze and monitor vendor and production team performance, ensuring targets are met.
• Ensure compliance with all statutory requirements related to factory operations.
• Track inventory movement of fabric and accessories to ensure optimal stock levels.
• Optimize costs across all production stages and review factory performance metrics regularly.
• Maintain commercial control over factory-related purchases to minimize leakages.
• Ensure accuracy in Cost of Goods Sold (COGS) and projected costs.
• Monitor production budgets, Capital Expenditure (CAPEX), and overheads for efficient resource utilization.
• Prepare timely financial reports, including monthly and quarterly forecasts.
• Monitor and reduce wastage across all production stages while defining acceptable limits.
• Verify production reports and material usage for financial accuracy.
• Prepare data for ITC-04 and monitor job work stock to ensure compliance.
• Monitor QC rejections and drive improvements to minimize defects.
• Conduct cycle counts and wall-to-wall stock audits; analyze variances to improve processes.
• Support audits and participate in month-end close processes.
• Review performance reports and implement action plans to address any identified gaps.
• Identify process gaps and drive automation for enhanced efficiency.

Qualifications

• Educational Qualifications:

  • Bachelor of Commerce (B. Com) or
  • Master of Business Administration (MBA) or
  • Chartered Accountant Intermediate (CA Inter) or
  • Chartered Accountant (CA) or
  • Cost and Works Accountant (ICWA)

• Required Skills & Competencies:

  • Strong knowledge of financial accounting and reconciliations.
  • Experience in factory finance and manufacturing operations.
  • Strong analytical and problem-solving skills.
  • Detail-oriented with excellent organizational abilities.
  • Effective communication and interpersonal skills.
  • Advanced skills in Microsoft Excel.

Preferred Skills

• Not specified.

Experience

• 8–10 years of relevant experience in finance management within a manufacturing environment.

Environment

• The typical work setting is the factory environment located in Mumbai, requiring interaction with various teams focused on production, inventory management, and financial reporting.

Salary

• ₹15–18 LPA (Lakhs per Annum).

Growth Opportunities

• Not specified.

Benefits

• Not specified.