Head Costing

Role & responsibilities

The Costing Lead will be responsible for managing and analyzing all aspects of costing in the yarn manufacturing unit. This role requires a strategic approach to cost management, ensuring profitability, accurate cost analysis, and financial compliance while supporting decision-making for operational and strategic objectives. The ideal candidate will focus on cost optimization and align costing practices with organizational goals to ensure operational efficiency and financial control.

Strategy (Providing direction to achieve the desired long term and short-term objectives)

• Develop and execute costing strategies to ensure alignment with organizational financial goals. Identify cost-saving opportunities in manufacturing, procurement, and operations.
• Benchmark costing processes and frameworks with industry standards to maintain competitiveness.
• Collaborate with leadership to support strategic decision-making based on cost analysis.

Operations (Executing the strategies to achieve the business goals)

• Prepare and analyze cost sheets, budgets, and forecasts for the manufacturing unit.
• Monitor and analyze variances in production costs, including materials, labor, and overheads. Conduct regular audits to ensure the accuracy and integrity of cost records.
• Coordinate with procurement and production teams to track raw material costs and their impact on profitability.
• Develop pricing strategies for products based on comprehensive cost analysis.
• Ensure compliance with all regulatory and financial reporting standards related to costing.

Preferred candidate profile:

Qualifications:

• Bachelors/master's degree in finance, Cost Accounting, or related field.
• Professional certification such as CMA/CA (preferred).

Critical Competencies Required:

• Financial Acumen: Deep understanding of cost accounting principles specific to the textile industry.
• Data-Driven Decision Making: Ability to translate complex data into actionable insights.
• Process Optimization: Skill in identifying inefficiencies and implementing cost-saving measures. Strategic Thinking: Capability to align costing practices with long-term business objectives.