Mohammad Parwez Alam
Jeddah,Mecca Region
Summary
Experienced Costing & Inventory Manager with strong expertise in retail finance, inventory accounting, cost control, and financial reporting. Skilled in inventory valuation, provisions, product costing, gross margin analysis, supplier rebate accounting, supply chain cost allocation, and profitability analysis. Proven ability to manage inventory controls, month-end closing, budgeting, forecasting, and financial reporting while improving inventory accuracy, cost efficiency, and business performance. Experienced with retail ERP systems including RMFCS, IMCS, SIOCS, ReSA, Oracle Fusion, SAP, and JDA.
Overview
18
18
years of professional experience
Work history
Costing and Inventory Manager
Panda Retail company
Jeddah, Mecca Region
2023.04 - Current
- Manage end-to-end inventory accounting, product costing, and financial reporting in compliance with IFRS and company policies.
- Ensure accurate inventory valuation, stock reconciliations, and monthly inventory closing across warehouses, distribution centres, and retail stores.
- Monitor gross margin performance by category, department, store, and product line through detailed margin and profitability analysis.
- Review inventory movements, stock adjustments, and inventory aging to ensure accurate inventory valuation and financial reporting.
- Prepare and review inventory provisions for markdowns, overstock, slow-moving, non-moving, damaged, expired, and obsolete inventory, ensuring compliance with IAS 2 and the lower of cost and net realizable value (NRV) principle.
- Calculate and record physical inventory count provisions for stores where physical stock counts have not been completed within the reporting period.
- Prepare monthly management reports covering inventory movements, stock shrinkage, inventory adjustments, provisions, supplier rebates, gross margins, and cost allocations.
- Conduct variance analysis on purchase prices, inventory losses, shrinkage, wastage, and operating costs, providing actionable recommendations to improve profitability.
- Coordinate and support periodic physical inventory counts, cycle counts, and internal and external audit requirements.
- Prepare and manage supply chain cost allocations, including inbound freight, customs duties, warehousing, transportation, distribution center expenses, and logistics costs, ensuring accurate allocation to inventory and business units.
- Prepare and monitor Central Bakery cost allocations, including raw materials, labor, utilities, depreciation, and manufacturing overheads, using approved allocation methodologies.
- Manage the accounting and allocation of commercial rebates, promotional allowances, listing fees, marketing support, commercial income.
- Support the annual budgeting and forecasting process for inventory, supply chain costs, distribution expenses, rebate income, and gross margin targets.
- Ensure compliance with internal controls, and external audit requirements related to inventory valuation, costing, supplier rebates, provisions, and financial reporting.
- Support month-end and year-end financial closing activities, including inventory reconciliation, costing, provisions, rebate accounting, and journal entries.
Assistant Costing and Inventory manager
Panda Retail Comapny
Jeddah, Saudi Arabia
2022.05 - 2023.04
Senior Accountant Costing and Inventory
Panda Retail Company
Jeddah, Saudi Arabia
2017.06 - 2022.05
Accountant- Payable
Panda Retail Company
Jeddah, Saudi Arabia
2013.06 - 2017.05
- Perform vendor reconciliations to ensure accurate and timely payments.
- Complete month-end closing activities for Accounts Payable and reconcile the Accounts Payable sub-ledger with the General Ledger.
- Process supplier advance payments and prepare accounting entries related to Letters of Credit (LCs).
- Analyze stock movements before processing supplier advance payments.
- Prepare and maintain Letter of Credit (LC) schedules.
- Prepare schedules for trade and non-trade payables.
- Reconcile and clear outstanding supplier debit balances to maintain zero discrepancies.
- Maximize early payment discounts through effective payment scheduling.
- Perform variance analysis and investigate discrepancies related to Accounts Payable transactions
Junior accountant- General Ledger
Panda Retail Company
Jeddah, Saudi Arabia
2009.10 - 2013.06
- Prepare monthly accruals for expenses such as casual labor, cleaning services, fuel, telephone, electricity, and other operating costs.
- Process prepaid expenses and record monthly amortization entries.
- Ensure accurate accounting for General Ledger transactions and perform monthly reconciliations between the General Ledger and sub-ledgers.
- Prepare Balance Sheet schedules for prepaid expenses and accrued liabilities.
- Respond to monthly queries related to the Profit and Loss (P&L) statement.
- Reconcile, analyze, and review General Ledger accounts to support accurate and timely month-end closing.
- Ensure all journal entries are supported by appropriate documentation and comply with accounting policies.
- Assist in the preparation of financial reports and support internal and external audit requirements.
- Maintain compliance with company policies, accounting standards, and internal controls.
Junior accountant
Geant Saudi Ltd.
Riyadh, Saudi Arabia
2008.04 - 2009.10
- Prepare monthly accruals for expenses such as casual labour, cleaning services, fuel, telephone, electricity, and other operating costs.
- Process prepaid expenses and record monthly amortization entries.
- Prepare Balance Sheet schedules for prepaid expenses and accrued liabilities.
- Respond to monthly queries related to the Profit and Loss (P&L) statement.
Education
Master of Business Administration- MBA - Finance
Subharti University
IndiaBachelor of Business Administration -
Shobhit University
IndiaCertified Accounting Manager -
The Institute of Business Accountant
IndiaMember of SOCPA -
Saudi Organization For Chartered And Professional Accountant
Skills
- Inventory Management & Control
- Inventory Valuation & Reconciliation
- Inventory Provisioning (Slow-Moving, Non-Moving, Damaged, Expired & Obsolete Stock)
- Net Realizable Value (NRV) Assessment & IAS 2 Compliance
- Product Costing & Cost Allocation
- Gross Margin Analysis & Profitability Reporting
- Perishable Inventory Management & Wastage Control
- Stock Loss Analysis, Shrinkage Management & Inventory Adjustments
- Landed Cost Calculation (Freight, Customs, Logistics & Import Costs)
- Supply Chain Cost Allocation & Distribution Cost Analysis
- Central Bakery / Central Kitchen Cost Allocation
- Commercial Rebate Accounting & Supplier Income Management
- Financial Analysis & Management Reporting
- Budgeting, Forecasting & Cost Planning
- Cost Variance Analysis (Purchase Price, Margin, Inventory & Operating Costs)
- ERP Systems: RMFCS, IMCS, SIOCS, ReSA, Oracle Fusion, SAP, JDA
- Month-End & Year-End Financial Closing
- Internal Controls, IFRS Compliance & Audit Support
- Advanced Microsoft Excel (Pivot Tables, Power Query, Smart View)
Timeline
Costing and Inventory Manager
Panda Retail company
2023.04 - Current
Assistant Costing and Inventory manager
Panda Retail Comapny
2022.05 - 2023.04
Senior Accountant Costing and Inventory
Panda Retail Company
2017.06 - 2022.05
Accountant- Payable
Panda Retail Company
2013.06 - 2017.05
Junior accountant- General Ledger
Panda Retail Company
2009.10 - 2013.06
Junior accountant
Geant Saudi Ltd.
2008.04 - 2009.10
Master of Business Administration- MBA - Finance
Subharti University
Bachelor of Business Administration -
Shobhit University
Certified Accounting Manager -
The Institute of Business Accountant
Member of SOCPA -
Saudi Organization For Chartered And Professional Accountant