Lead - Costing - Manufacturing/Chemicals

1 week ago

Mumbai, Maharashtra, India Domnic Lewis International Full time

Costing Lead for Mumbai location

Understand Costing System for Manufactured Products:

- Familiarize yourself with the company's costing methodologies, whether it's job costing, process costing, or activity-based costing.

- Understand how costs are allocated to products, including direct materials, direct labor, and overhead costs.

- Work closely with R&D team, purchase team for cost optimization:

- Collaborate with the Research and Development team to understand product designs and identify opportunities for cost reduction without compromising quality.

- Coordinate with the purchasing team to negotiate better prices for raw materials and identify alternative suppliers.

- Actual Costing, Variance Analysis, and Identifying Areas of Improvement in Operations:

- Calculate actual manufacturing costs by tracking expenses related to materials, labor, and overhead.

- Conduct variance analysis to compare actual costs with budgeted or standard costs and identify deviations.

- Identify areas for improvement in operations to reduce costs, improve efficiency, and enhance quality.

Analyzing Actual Manufacturing Costs & Preparing Periodic Reports:

- Analyze actual manufacturing costs and prepare reports comparing standard costs to actual production costs.

- Present findings to management, highlighting areas of concern or areas where cost-saving measures have been successful.

Initiating & Evaluating Cost Reduction Ideas:

- Proactively identify opportunities for cost reduction, such as process improvements, waste reduction, or automation.

- Evaluate the feasibility and potential impact of cost reduction ideas before implementation.

Preparing MIS Deck as per Agreed Timelines:

- Compile relevant information into Management Information System (MIS) decks, ensuring accuracy and timeliness.

- Present MIS decks to stakeholders, providing insights into cost performance and areas for improvement.

Record, Report, Analysis & MIS of Product-Wise Profitability:

- Maintain records of product costs, revenues, and profitability.

- Generate reports and conduct analysis to assess the profitability of each product.

- Incorporate this information into MIS reports for management review.

Knowledge of ML Run, Standard Cost, Activity Costing, NRV Testing, and Inventory Provisioning:

- Stay updated on industry best practices and tools, including Machine Learning applications in cost analysis.

- Understand standard costing methodologies and activity-based costing principles.

- Familiarize yourself with Net Realizable Value (NRV) testing for inventory valuation and provisioning.

- CMA Qualification: As a CMA, you possess in-depth knowledge of financial management and costing principles, which are essential for analyzing costs, preparing reports, and implementing cost optimization strategies.

Work Experience in Costing & MIS:

Your experience in the costing and MIS functions of mid to large-size companies in the chemical, pharma, and FMCG sectors indicates your familiarity with the specific challenges and requirements of these industries.

You likely have experience in cost analysis, variance analysis, and preparing management reports.

SAP Proficiency:

Your good working knowledge of SAP in a manufacturing environment is highly valuable.

SAP is widely used in manufacturing industries for various functions, including finance, supply chain management, and production planning. Your proficiency in SAP likely includes modules relevant to costing, such as CO (Controlling) and PP (Production Good communication &;interpersonal skill.

- SAP background mandatory.

- Excellent analytical & numerical ability

- Fast learner with positive attitude

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