- Budgeting &
- Cost Planning: - Prepare budgets, cost estimates and forecasts; monitor actual costs against approved budgets.
- Cost Monitoring &
- Variance Analysis: Analyze Actual vs Budget vs Standard/Previous Period and identify major cost variances and their root causes.
- Cost Reduction &
- Optimization: Identify cost-saving opportunities in materials, manpower, overheads, logistics and operations without compromising quality.
- Inventory &
- Material Cost Control: Monitor material consumption, wastage, stock levels, slow-moving inventory and purchase price variances.
- MIS &
- Management Reporting: Prepare periodic cost reports, dashboards and KPIs and highlight key cost drivers and corrective actions to management.
- Internal Controls &
- Process Improvement: Strengthen cost-control procedures, approval mechanisms and SOPs; coordinate with Finance, Procurement, Operations and Commercial teams to ensure effective cost management.