- Establish and maintain standard costing systems within the plant.
- Ensure accurate flow and recording of costing-related information.
- Monitor inventory consumption and set standard benchmarks.
- Prepare monthly inventory valuation and product-wise costing reports.
- Analyze cost control and reduction opportunities, including alternate product analysis.
- Conduct variance analysis between budgeted and actual costs.
- Compare expected vs. actual cost of recent products and report deviations.
- Perform root cause (Why-Why) analysis of machinery breakdowns and preventive actions.
- Review labor and overhead rates; suggest policy changes for improvement.
- Coordinate with cost auditors for compliance and resolve related queries.
- Conduct cost-benefit analyses of raw materials and supplies.
- Identify value-added and non-value-added activities to improve profitability.