Costing Analyst

Cost Analysis & Estimation:

• Prepare precise and comprehensive cost estimates for products, services, or projects by reviewing blueprints, specifications, and proposals.
• Assess production processes to determine costs related to raw materials, labor, and overhead.
• Develop and maintain detailed costing models, ensuring they reflect the latest production and market conditions.
• Identify opportunities for cost savings and efficiency improvements.

Budgeting & Forecasting:

• Collaborate with production, procurement, and engineering teams to gather necessary data for preparing budgets and cost estimates.
• Assist in developing accurate financial forecasts, relying on historical data and market trends.
• Contribute to annual budgeting processes and provide insights to support strategic financial planning.

Cost Tracking & Reporting:

• Monitor and compare actual costs against budgeted estimates to ensure accurate tracking and financial control.
• Generate regular cost reports for senior management, detailing variances and recommending corrective actions.
• Provide insightful analysis to guide decision-making related to pricing, investments, and resource allocation.

Financial Data Analysis:

• Conduct thorough analysis of financial reports, production data, and cost trends to support continuous improvement initiatives.
• Ensure accurate and timely reporting of key cost components, including materials, labor, and overhead.
• Evaluate the financial performance of different business activities and provide recommendations for profitability enhancement.

Supplier and Vendor Coordination:

• Work closely with procurement teams to assess supplier quotes, ensuring competitive pricing and value.
• Collaborate with vendors to ensure cost-effective purchasing while maintaining strong supplier relationships.

Qualification :

• ICWA (Institute of Cost and Works Accountants) certification or equivalent professional qualification.
• Minimum of 1-3 years of experience in cost estimation, financial analysis, or a similar role.
• Strong understanding of cost accounting principles, cost control methodologies, and budgeting processes.
• Proficient in cost estimation software and advanced MS Excel skills.
• Knowledge of ERP or MRP systems (e.g., SAP, Oracle) is highly desirable.
• Exceptional analytical and problem-solving skills, with a proactive approach to identifying cost-saving opportunities.
• Excellent communication and interpersonal skills for collaborating with cross-functional teams.
• Strong attention to detail and the ability to work within tight deadlines.

Preferred Skills:

• Experience in the manufacturing or construction industry.
• Familiarity with Lean Manufacturing principles or Six Sigma certifications.
• Knowledge of market trends, raw material pricing, and labor rates affecting cost estimates.

Key Competencies:

• Financial Acumen
• Analytical Thinking
• Attention to Detail
• Effective Communication
• Collaboration
• Problem-Solving
• Time Management & Prioritization