Costing Head - Spinning

The Spinning Costing Manager at the corporate level is responsible for analyzing and managing the cost structure of spinning operations across multiple units. This includes raw material cost assessment, production cost analysis, overhead allocation, cost optimization strategies, and financial reporting. The role ensures accurate cost computation, budget control, and profitability analysis to support strategic decision-making.

Role & responsibilities

1. Costing & Financial Analysis:

• Calculate the cost per kg of yarn by analyzing raw material, power, labor, and overhead costs.
• Conduct cost variance analysis between budgeted and actual costs to identify deviations.
• Monitor and analyze the impact of cotton, synthetic fiber, and blend prices on overall production costs.
• Evaluate the cost of production across different yarn counts and qualities.

2. Raw Material & Inventory Costing:

• Track raw material procurement costs (cotton, polyester, viscose, etc.) and its effect on yarn pricing.
• Optimize inventory levels and evaluate the impact of raw material storage on costing.
• Work with the procurement and production teams to assess raw material consumption efficiency.

3. Overheads & Cost Control:

• Allocate direct and indirect costs across different spinning mills.
• Assess energy consumption trends and implement strategies to reduce power & fuel costs.
• Identify opportunities to optimize labor costs while maintaining efficiency.

4. Profitability & Pricing Analysis:

• Prepare cost sheets for different yarn varieties and blends to determine profitability.
• Support pricing decisions for domestic and export markets by analyzing cost structures.
• Conduct break-even analysis for new projects, expansions, or capacity enhancements.

5. Budgeting & Reporting:

• Assist in the preparation of annual and monthly budgets for spinning units.
• Generate periodic costing reports and MIS reports for senior management review.
• Provide insights on cost trends, key drivers, and recommend cost-saving initiatives.

6. Compliance & Process Improvement:

• Ensure compliance with cost accounting standards (CAS), GST, and tax regulations related to costing.
• Work closely with auditors during cost audits and statutory audits.
• Continuously improve costing methodologies by implementing best industry practices.

• Skills Required:
• Strong knowledge of costing methods, variance analysis, and financial modeling.
• Proficiency in ERP systems (SAP, Tally, Oracle) and Excel-based costing models.
• Understanding of spinning mill operations, production processes, and cost drivers.
• Ability to analyze large datasets and provide actionable insights.