Cost Controller

**Job Description: Cost Controller**

Job Title: Cost Controller

Department: Food & Beverage

Reports to: Restaurant Manager / VP -F&B

A degree in Accounting, Finance, Hospitality Management, or a related field is preferred. Previous experience in cost control or financial management within the restaurant, hospitality, or food service industry is essential. Knowledge of POS systems, inventory management software, and financial reporting tools is a plus

28 to 40 years old

Experience: Minimum 5 years in a similar position

**Job Title: Cost Controller**

**Job Overview**:
The **Cost Controller** is responsible for managing and overseeing the cost-related aspects of the restaurant or food service operation. This includes monitoring and controlling the costs of food, beverages, and supplies, as well as ensuring that operational expenses remain within budget. The role is key in helping the business achieve profitability by analysing cost data, implementing cost control measures, and ensuring the efficient use of resources.

**Key Responsibilities**:

- **Cost Monitoring & Analysis**:

- Monitor and track the costs of goods sold (COGS), including food and beverage inventory, ensuring they align with the budgeted targets.
- Analyse food and beverage cost reports, highlighting any discrepancies between actual costs and budgeted costs.
- Identify cost control opportunities to minimize waste, spoilage, and over-purchasing.
- Perform daily, weekly, and monthly cost tracking to ensure accurate reporting and forecasting.
- **Inventory Control & Stock Management**:

- Oversee inventory control procedures, ensuring stock levels are optimized and wastage is minimized.
- Conduct regular inventory counts and reconcile inventory records to ensure that physical stock matches the reported figures.
- Work with the purchasing department to ensure that proper stock levels are maintained without over-ordering.
- Identify slow-moving items and provide recommendations to management to address overstocking or discontinuation.
- **Menu & Recipe Costing**:

- Calculate and analyse the cost of each menu item, ensuring pricing reflects the desired profit margins.
- Review and update menu item recipes to account for any changes in ingredient prices or portions.
- Work with the Head Chef or Kitchen Manager to ensure that menu pricing is optimized based on food cost analysis and market trends.
- Assist in the creation of new menu items by determining accurate food costing for each dish.
- **Budgeting & Forecasting**:

- Collaborate with management to prepare annual budgets for food, beverage, and other operational costs.
- Provide ongoing forecasts and projections for food and beverage costs, adjusting for seasonal changes or supply chain fluctuations.
- Develop strategies to improve profitability by managing cost margins and controlling variable costs (e.g., food waste, portion sizes).
- **Reporting & Documentation**:

- Prepare regular reports on cost performance, including detailed analysis of cost discrepancies and opportunities for improvement.
- Maintain accurate records of all cost-related data, including invoices, purchase orders, and inventory counts.
- Report any significant variances in cost to the management team, providing recommendations for corrective action.
- Submit monthly and quarterly financial reports, including breakdowns of food and beverage costs and operational expenses.
- **Supplier & Vendor Relations**:

- Monitor vendor performance, including pricing, delivery times, and product quality.
- Negotiate pricing with suppliers and vendors to secure favorable terms and reduce the overall cost of goods sold.
- Ensure that supplier invoices are accurate and that discrepancies are addressed promptly.
- Work with the purchasing department to find cost-effective alternatives and to reduce purchasing costs.
- **Waste Control & Efficiency Improvements**:

- Implement procedures to monitor and control food waste, spoilage, and portion control.
- Analyze areas of high waste or inefficiency and recommend actions to reduce waste without compromising quality.
- Encourage staff to adhere to waste reduction policies and ensure that kitchen operations align with cost control goals.
- **Collaboration with Other Departments**:

- Work closely with the kitchen and bar teams to ensure that food and beverage costs are kept within budget while maintaining quality and service standards.
- Collaborate with management to ensure that cost control strategies align with the overall goals of the business.
- Provide ongoing training to kitchen and front-of-house staff to ensure efficient operations and adherence to cost control practices.
- **Compliance & Risk Management**:

- Ensure that cost control practices comply with internal policies and external regulations.
- Implement systems to track and reduce shrinkage (e.g., theft, spoilage).
- Maintain awareness of market trends and adjust purchasing strategies as needed to minimize cost fluctuat