F&b Cost Controller

**Overview**:
The Food and Beverage Cost Controller has the main responsibility of calculating the costs associated with food and beverage items. He/she is also tasked with short and long-term planning for F&B control and pricing. His/her duties include recording information and generating control reports regularly to maintain an appropriate inventory of food and beverage items throughout the venue. He/she will also be involved in adjusting menu item prices based on the cost information they gather and actively participate in structuring the menu with a focus on pricing. Additionally, he/she oversees the entire store inventory management, receiving processes, ensures the accuracy and completeness of month-end/ad-hoc stock-takes, provides explanations for COS variances, and handles F&B costing.

**Responsibilities:
**Stocktaking**
- Organize and conduct regular stock takes of food and beverage inventory
- Ensure accurate counting and recording of stock levels
- Identify and investigate any discrepancies in stock quantities
- Analyze stock variances and report findings to management
- Implement measures to minimize stock shrinkage and losses
- Coordinate with receiving departments to reconcile deliveries with stock records
- Update inventory records in the system accurately and promptly
- Establish and maintain par stock levels for efficient inventory management
- Collaborate with the finance department to ensure accurate financial reporting related to inventory
- Implement and enforce inventory control procedures and policies
- Provide recommendations for improving stock management and cost control processes
- Train and supervise staff involved in stocktaking to ensure consistency and accuracy
- Conduct regular audits of inventory records to ensure accuracy and compliance with accounting standards

**Menu Pricing and Costing**
- Analyze and evaluate the cost of ingredients and materials used in F&B items
- Calculate the cost of recipes and menu items accurately
- Work closely with Operations Team to maintain standard recipes and portion sizes
- Collaborate with chefs and beverage team to ensure cost-effective menu planning
- Regularly review and suggest potential menu prices changes based on cost analysis
- Conduct menu engineering to optimize profitability and sales mix
- Monitor food and beverage sales performance and profitability
- Implement approaches to control food and beverage costs, such waste reduction measures
- Conduct price comparisons with competitors to ensure pricing competitiveness
- Train and educate staff on menu costing, and cost control measures
- Prepare cost reports and financial analysis related to F&B menu pricing and costing

**F&B Analysis**
- Conduct detailed analysis of F&B costs related to events (internal and client events), including food and beverage expenses, labor costs, and overheads
- Evaluate the gross profit margins for each event and identify areas for improvement
- Analyze sales mix data to understand customer preferences and optimize menu offerings
- Identify high-profit items and promote them effectively to increase revenue
- Monitor inventory levels and implement value-added tasks such as inventory turnover analysis and obsolete inventory management
- Develop strategies to reduce inventory carrying costs while ensuring adequate stock levels
- Collaborate with vendors and suppliers to negotiate favorable pricing and terms
- Prepare reports and presentations on events analysis, sales mix analysis, and inventory management for management review and decision-making
- Provide recommendations for cost-saving initiatives and revenue enhancement opportunities based on data analysis and industry trends.

**Volume Rebates / Event Sponsorship**
- Monitor purchasing volumes and negotiate volume-based discounts or rebates with suppliers and vendors.
- Analyze the impact of volume rebates on overall cost savings and profitability.
- Ensure that volume rebate agreements are documented accurately and adhered to by all parties involved.
- Collaborate with procurement teams to optimize purchasing strategies and leverage volume discounts effectively.
- Maintain records of volume rebate agreements, payments, and reconciliation processes.
- Evaluate and maximize (based on contracted amount) opportunities for event sponsorship utilization that align with the company's marketing and branding objectives.

**Other responsibilities**
- Perform additional duties as required.

**Requirements**:

- A minimum Diploma/Degree in Accounting, Finance, Hospitality Management, or a related field with at least 2 years of relevant experience.
- Possess a positive work attitude.
- Familiarity with the hospitality industry, F&B operations, menu planning, pricing strategies, and industry trends is advantageous
- Demonstrated attention to detail and accuracy in calculations.
- Effective communication skills and the capacity to collaborate with various teams.
- Familiarity in using SUN accounting software,