Manager– Costing
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Job Location:
Monthly Salary:
Posted on:
6 hours ago
Vacancies:
1 Vacancy
Job Summary
Job Summary:
Purpose:
To analyze monitor and optimize cost structures across production and business operations ensuring
efficient resource utilization improved profitability and strong working capital management through robust
costing systems and data-driven decision support
Scope and KPIs
Standard vs Actual Cost Variance Analysis
Cost Reduction Initiatives ( impact and %)
Budget vs Actual Performance Monitoring
Accuracy of Inventory Valuation and Cost Allocation
Timeliness and quality of MIS and reporting
Timelines & accuracy of in support for Costing of new and existing product
SCOPE
End-to-End Cost Ownership (Core Scope)
Inventory & Working Capital Control
Planning Budgeting & Forecasting
Profitability & Pricing Partner
Process Improvement & Systems
Cross-Functional Influence
Key responsibilities:
Leadership for Inventory Control:
Oversee inventory control processes to ensure accurate tracking efficient storage and optimal
utilization of resources.
Develop and implement inventory management policies and procedures to minimize carrying
costs while meeting production demands.
Inventory Valuation:
Conduct regular assessments of inventory value to reflect accurate financial reporting and
assess inventory turnover ratios.
Implement standard costing system and valuation methods such as FIFO (First In First Out) to
align with accounting standards and business needs.
Pre & Post Costing (Product-wise/Batch-Wise):
Analyze costs associated with production activities including materials labor and overhead both before and after production.
Monitor cost trends and identify areas for improvement to enhance operational efficiency and reduce expenses.
Implement cost-tracking mechanisms to accurately assess expenditures and deviations from budgetary targets.
Allocate costs accurately to products or batches to determine profitability and identify areas for cost reduction.
Budgeting and Forecasting:
Collaborate with cross-functional teams to develop annual budgets and forecasts based on production requirements and market trends.
Regularly review budgetary performance against actual expenses providing insights and recommendations for corrective actions as needed
Process Improvement:
Collaborate with IT teams to enhance existing systems or implement new technologies for more efficient cost management processes.
Identify and address gaps in current systems to streamline data collection analysis and reporting.
Identify opportunities for process optimization and cost reduction through lean principles automation and technology integration.
Work closely with production teams to implement cost-effective measures without compromising quality or safety standards.
Support in Pricing Decision:
Provide cost analysis and insights to support pricing strategies considering market dynamics competitor pricing and profitability targets.
Assist in evaluating pricing models and setting competitive yet profitable prices for products or services.
Assist for Calculation of Gross Profitability in different ways based on :
Product / Segment / Customer / Location of sales /Sales-Person etc
Expected Initiatives:
Working Capital Optimization in Inventory:
Coordinate with department heads in Planning Production and Sales to optimize inventory levels and reduce working capital requirements. Monitor inventory levels and production output to prevent overstocking or shortages optimizing inventory turnover and cash flow.
Implement inventory management techniques such as JIT (Just-In-Time) or EOQ (Economic Order Quantity) to minimize carrying costs while ensuring sufficient stock availability.
Cost Control Strategies:
carry out monthly inventory valuation and margin reporting
Analyze cost structures to identify areas for improvement in both variable and fixed costs.
Collaborate with cross-functional teams to implement cost-saving initiatives and monitor their effectiveness over time
. Develop and implement cost control strategies to mitigate financial risks and improve profit margins.
Stakeholder management:
Describe the main interactions:
Type of interaction: leading participating and collaborating
In & outside the organisation
o Internal stakeholders: Production Planning Sales Finance IT teams (upwards downwards
and lateral coordination)
o External stakeholders: Auditors consultants and service providers
Inside: upwards downwards laterally: All
Required Skills:
Actual Cost Variance AnalysisCost Reduction InitiativesAccuracy of Inventory Valuationquality of MIS
Key Skills
- Restaurant Experience
- Customer Service
- Employee Evaluation
- Management Experience
- Math
- Employment & Labor Law
- Sanitation
- Leadership Experience
- P&L Management
- Mentoring
- Supervising Experience
- Restaurant Management
