Dy. Manager - Costing

The Manager Costing is responsible for overseeing cost analysis, cost control, and cost optimization strategies to improve financial efficiency. This role involves tracking and analyzing production costs, conducting variance analysis, and implementing cost reduction initiatives. The Manager Costing works closely with finance, operations, and supply chain teams to ensure accurate cost reporting and strategic decision-making.

Key Responsibilities:

Cost Analysis & Reporting:

• Develop and maintain costing models to analyze product, service, and operational costs.
• Prepare cost reports, profitability analysis, and cost variance reports for management review.
• Ensure accurate cost allocation and expense tracking for materials, labor, and overhead costs.

Standard Costing & Variance Analysis:

• Implement standard costing systems and update cost standards periodically.
• Conduct variance analysis (actual vs. standard costs) to identify cost deviations.
• Investigate and recommend corrective actions for cost overruns and inefficiencies.

Budgeting & Forecasting:

• Assist in cost planning, budgeting, and financial forecasting.
• Provide cost estimates and insights to support financial decision-making.
• Monitor cost performance against budgets and implement cost control measures.

Cost Optimization & Process Improvement:

• Identify opportunities for cost reduction and operational efficiency improvements.
• Work with production and procurement teams to optimize raw material usage, wastage control, and resource allocation.
• Implement best practices in cost management and automation for enhanced accuracy.

Inventory & Supply Chain Cost Management:

• Monitor inventory valuation, stock movements, and cost impacts on financial performance.
• Work closely with supply chain teams to assess and control procurement costs.
• Conduct cost-benefit analysis for vendor selection, outsourcing, and alternative sourcing strategies.

ERP & Financial Systems Integration:

• Ensure accurate cost data management in ERP systems (SAP, Oracle, Tally, etc.).
• Develop costing dashboards and financial reports using Power BI, Excel, or other analytics tools.
• Drive process automation initiatives to improve cost tracking and reporting efficiency.

Compliance & Audit Support:

• Ensure compliance with financial regulations, internal policies, and industry cost standards.
• Provide cost-related data for internal and external audits.

Maintain documentation and support cost audits and financial reconciliations.

Required Skills & Qualifications:

• Bachelor’s/Master’s degree in Finance, Cost Accounting, or a related field.
• Professional qualification (CMA, ICWA, CA, CPA) preferred.
• 5+ years of experience in cost accounting, financial planning, or cost management.
• Strong expertise in standard costing, variance analysis, and cost control strategies.
• Proficiency in ERP systems (SAP, Oracle, Tally) and financial reporting tools (Power BI, Excel, etc.).
• Strong analytical, problem-solving, and communication skills.
• Experience collaborating with finance, production, procurement, and supply chain teams.