Cost Control Manager

Job Title Cost Control Manager Location Hyderabad Reports to Head of FinanceJob Summary The Cost Control Manager will oversee and manage all cost-related functions within the manufacturing process ensuring cost efficiency without compromising on quality or production targets This individual will work closely with the finance procurement production and engineering teams to develop and implement cost control measures analyze cost performance and optimize the use of resources Key Responsibilities Cost Management Control a Develop and implement cost control strategies to optimize manufacturing processes b Regularly review and analyze production costs material costs labor costs and overhead expenses c Monitor cost variances identify areas for cost savings and propose corrective actions d Prepare cost forecasts and budgets based on production plans raw materials and labor needs Budgeting Forecasting a Assist in the preparation of the annual budget for manufacturing operations b Perform monthly quarterly and yearly forecasting of production costs and variance analysis c Monitor and ensure alignment of actual expenses with the budget and forecasts Cost Analysis Reporting a Conduct regular cost analysis reports comparing actual vs standard costs b Generate detailed reports on cost trends variances and performance against budget c Provide financial analysis to support decision-making in production and pricing strategies Inventory Control a Collaborate with the inventory management team to optimize inventory levels and reduce holding costs b Ensure accurate tracking and reporting of raw material usage wastage and finished goods inventory c Identify opportunities to minimize inventory carrying costs while maintaining sufficient stock levels for production Vendor and Supplier Cost Management a Work closely with procurement to negotiate favorable terms with suppliers and vendors b Analyze supplier performance in terms of cost quality and delivery and ensure alignment with budget expectations c Review and approve purchase orders to ensure compliance with cost standards Process Improvement a Lead initiatives for continuous improvement in cost control and efficiency across manufacturing operations b Work with the production and engineering teams to identify and eliminate inefficiencies in the production process c Implement cost-saving technologies or methods in the manufacturing process Compliance Audit a Ensure compliance with financial regulations internal policies and accounting principles b Support internal and external audits related to cost control inventory and financial management Collaboration with Cross-Functional Teams a Work with the engineering and design teams to ensure cost-effective product development b Coordinate with finance and production to align financial planning with operational goals c Assist in developing pricing strategies and cost models for new product lines Technology Systems Management a Utilize ERP systems to monitor and track manufacturing costs and performance b Ensure data accuracy in all cost control systems and reports c Train staff on the use of cost control tools and techniques Key Qualifications a CWA with 6 years of experience in cost control cost accounting or financial analysis in a manufacturing environment b Strong understanding of manufacturing processes cost structures and budgeting forecasting techniques c Proficient in ERP systems SAP Oracle Zoho and advanced MS Excel skills d Strong analytical skills and attention to detail with the ability to interpret and present financial data e Excellent communication and interpersonal skills for collaborating with cross-functional teams f Ability to work under pressure and meet tight deadlines Preferred Skills a Experience in the audio or electronics manufacturing industry b Knowledge of lean manufacturing principles Six Sigma or other process improvement methodologies c Strong leadership and project management abilities