Costing Manager

Job Description Costing Manager

Company: Spectrum Electrical Industries Limited

Location: Mumbai
Department: Costing
Experience: 8+ years in costing, negotiation, and financial analysis in a manufacturing environment (Sheet Metal Fabrication, Powder Coating, Assembly, Electroplating, Molding Components)
Qualification: BE/B.Tech, BBA, B. Com., M. Com., B. Sc. Or M. Sc. (Mathematics/Statistics), MBA is preferred

Job Overview:

We are seeking a Costing Manager with expertise in cost estimation, negotiation, and financial analysis for both new and existing projects across our manufacturing segments. The role involves analyzing cost structures, optimizing pricing, negotiating with suppliers/customers, and ensuring profitability while maintaining cost efficiency.

Key Responsibilities:

• Costing & Analysis:
• Develop and update cost structures for new and existing projects in fabrication, coating, plating, molding, and assembly.
• Conduct detailed cost breakdowns for raw materials, labor, overheads, and subcontracting.
• Perform variance analysis (Standard vs. Actual Costs) and implement corrective actions.
• Assess the cost impact of material price changes, operational efficiencies, and process improvements.
• Evaluate and improve cost estimation methods for new project proposals and tenders.
• Negotiation & Cost Optimization:
• Negotiate pricing with customers and suppliers based on accurate cost workings and market trends.
• Work with procurement and production teams to optimize raw material costs and supplier agreements.
• Identify and implement cost reduction initiatives across production processes and supply chain.
• Assist in contract negotiations by providing cost insights and margin analysis.
• Budgeting & Forecasting:
• Prepare cost forecasts and pricing models for new and existing projects.
• Monitor and control inventory costs, WIP, and scrap management.
• Develop financial projections for cost efficiency and profitability planning.
• MIS & Reporting:
• Generate detailed costing reports, profitability analysis, and cost sheets for management review.
• Provide data-driven insights to support pricing strategies and project feasibility.
• Support financial decision-making with cost-based justifications.
• Compliance & Process Improvement:
• Ensure adherence to cost accounting standards, audit requirements, and financial controls.
• Continuously improve cost tracking methodologies for better cost transparency.

Key Skills & Competencies:

• Strong expertise in costing, negotiation, and financial analysis.
• Experience in cost modeling for new projects, tenders, and pricing strategies.
• Proficiency in SAP (CO Module), ERP systems, and cost analysis tools.
• Strong negotiation skills with suppliers, subcontractors, and customers.
• Proficiency in MS Excel, and financial modeling tools.
• Ability to work cross-functionally with finance, procurement, production, and sales teams.

Preferred Industry Experience:

• Sheet Metal Fabrication, Electrical Components, Automotive Parts Manufacturing, Engineering Industry.

If you have a strong background in cost control, project costing, and negotiation in a manufacturing environment, we invite you to apply for this role.