The role will be responsible for driving product costing, cost optimization, and profitability analysis across the manufacturing lifecycle. The candidate will partner with cross-functional teams (procurement, production, R&D;, finance) to ensure accurate cost structures, identify savings opportunities, and support strategic decision-making.
Key Responsibilities:
1. Product Costing & Analysis
- Prepare and validate BOM (Bill of Materials) and routing-based product costing.
- Conduct standard costing, variance analysis, and cost roll-ups for current and existing products.
- Analyze material, labor, and overhead costs to identify cost drivers.
2. Budgeting & Cost Control
- Support annual budgeting and periodic forecasts from a costing perspective.
- Monitor actual vs. standard cost variances and drive corrective actions.
- Develop cost benchmarks and track plant-level efficiency metrics.
3. New Product Costing (NPD Support)
- Work closely with R&D; and engineering teams for should-costing and target costing.
- Provide cost inputs during product design to ensure cost competitiveness.
4. Procurement & Vendor Costing
- Evaluate vendor quotations and support price negotiations with procurement teams.
- Conduct make vs. buy analysis and vendor cost comparisons.
5. Inventory & Manufacturing Accounting
- Ensure accurate costing in ERP systems (SAP/Oracle/others).
- Monitor inventory valuation, slow-moving and obsolete stock provisions.
6. MIS & Reporting
- Prepare monthly costing reports, margin analysis, and dashboards for management.
- Present insights on cost reduction opportunities and profitability improvement.
7. Cost Optimization Initiatives
- Drive value engineering and cost reduction projects across plants.
- Identify opportunities in process improvement, waste reduction, and productivity enhancement.
Requirements
Education:
- CA / CMA (preferred) or MBA Finance / B.Com with relevant experience
Experience:
- 6–10 years in costing within manufacturi