Cost Controller

General Purpose of Position

The Cost Controller is responsible for overseeing and optimizing all aspects of cost management within the food and beverage operations of the organization, including the Aquarium Retail Shop. This role involves monitoring food and beverage costs, analysing variances, implementing cost-saving strategies, and ensuring compliance with budgetary guidelines. The Cost Controller works closely with kitchen staff, procurement teams, and management to control expenses while maintaining quality standards and maximizing profitability.

Main Duties and Responsibilities

Menu Costing and Pricing

• Calculate the cost of ingredients for all menu items.
• Determine appropriate menu pricing to achieve targeted profit margins.
• Regularly review and update menu prices to reflect fluctuations in ingredient and supplier costs.
• Support management in developing profitable menu strategies.

Inventory Management

• Monitor inventory levels of food, beverage, and operational supplies.
• Monitor inventory levels and stock movement within the Aquarium Retail Shop.
• Conduct regular physical inventory counts and reconcile discrepancies.
• Investigate stock variances and implement corrective measures where necessary.
• Implement inventory control procedures to minimize wastage, losses, and operational errors.
• Ensure proper stock rotation and storage practices are followed.

Cost Analysis and Reporting

• Analyse food and beverage costs to identify trends, variances, and areas for improvement.
• Prepare regular cost control reports and present findings to management.
• Monitor food and beverage waste and recommend strategies to reduce unnecessary costs.
• Identify opportunities for improved cost management and increased profitability.
• Assist in budgeting and forecasting processes related to operational costs.

Menu Engineering and Sales Analysis

• Collaborate with chefs and menu development teams to optimize menu offerings for profitability.
• Analyse sales data and menu mix to identify high-performing and high-margin products.
• Identify slow-moving items within the Aquarium Retail Shop and recommend action plans to improve turnover.
• Support promotional planning and pricing strategies based on sales and cost analysis.

Systems and Compliance

• Maintain accurate records and documentation related to inventory and costing activities.
• Ensure compliance with company procedures and internal controls.
• Support continuous improvement initiatives related to stock control and operational efficiency.
• Assist with audits and stock investigations when required.

Knowledge, Experience and Education required

• Minimum of 2 years’ experience in inventory management within a food and beverage environment.
• Experience within the retail industry would be considered an asset.
• Proven experience in stock control, inventory management, or a similar role.
• Proficiency in inventory management software, preferably Materials Control, Simphony POS, and Microsoft Excel.
• Familiarity with artificial intelligence tools and data analysis systems would be considered beneficial.
• Strong knowledge of food and beverage costing methods and inventory management techniques.
• Excellent analytical and numerical skills with strong attention to detail and accuracy.
• Highly organized with strong time-management abilities.
• Effective communication and interpersonal skills.
• Ability to work independently and collaboratively within a team environment.
• Proactive attitude with the ability to take initiative and solve problems efficiently