Oversees the financial control, reporting and accounting activities for the Medifast Supply Chain. Supervise one individual. Develop timely reporting and analysis of Manufacturing results and Distribution performance and provide technical guidance and direction to management within the Supply Chain organization. Will review, analyze, and counsel mgmt. on recommendations to allow for improved decisions on productivity and improved return on investments. Develop necessary policies and procedures to improve the overall control environment within the mfg. site. Will manage monthly close activity for the plant as well as annual development of budgets and product costing.
Individual will oversee the development of supply chain product costs and spending budgets of approximately $120M. Will be reviewing all direct purchasing and indirect spend activity for one manufacturing plant, one raw materials warehouse and finished goods our DC’s and analyze all variances associated in this area – Total annual direct purchases of approx. $90M. Will review spending activity for appropriate recording of variances – total units produced of 120M annually. Oversee the development and review of standard costs for both raw materials and finished goods – total part numbers of approx. 1,700 that are costed.
1. Works with management in development of strategic plans for the Supply Chain. Provides ROI and various financial analysis on investment decisions being contemplated.
2. Prepares and analyzes Frozen Standard Costs as well as current Standard Costs and work closely with the Purchasing, Manufacturing and IT teams to coordinate the implementation of the annual standard cost roll within the ERP systems. Works with R&D / Purchasing in developing cost projections for new products. Ensures proper capturing and reporting of variances to the frozen standards.
3. Coordinates pulling together the monthly reporting package around the financial performance and productivity performance of the Supply Chain. Works with management to identify productivity opportunities - material or process related. Works with personnel in development of improvement initiatives to better control costs and oversee the Cash Savings Database to ensure activity is properly recorded.
4. Oversees reconciliations of WIP inventories to ensure timely and accurate reporting of variances and month end inventory balances. Works with the shop personnel and plant manager in ensuring that all WIP lots are effectively being managed and closed timely.
5. Manages monthly accounting close for the Supply Chain. Ensures that activity (expense and inventory) is properly captured within the Supply Chain, inventory adjustments are proper, and accruals accurately recorded in the financial systems.
6. Works with FP&A in the preparation of annual Supply Chain budgets and ongoing monthly analysis identifying deviations to planned spending as well as provide monthly spending forecasts for the Supply Chain to FP&A on a timely basis. Also, determines desired cost model as to where products should be produced.
7. Works with the Materials Organization regarding the financial oversight of excess and obsolete inventories and ensure that proper controls are in place over our inventories.
8. Reviews and approves new product structures and changes to ensure that accurate costs are in place.
9. Ensures Financial controls are in place and provide support and analysis as needed for the Annual Physical Inventory for all Medifast and 3rd Party locations.
10. Provides guidance, oversight, and analysis as needed for all of distribution, transportation and logistics freight spending (inbound, outbound, small package, LTL, transfer, indirect).
11. Provides all Supply Chain Census, Audit, Tax, etc. reporting as required (internal and external).
12. Provides ad hoc analysis as needed
13. Provides effective leadership, direction and coaching to direct and indirect reports including, but not limited to, delegating, staffing, performance appraisals, promotions, salary recommendations and terminations.