Careers in Product Costing

About the roleCoats Group is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials.We provide value-adding products including apparel, footwear and specialty threads that are used to create a wide range of products, providing safety and protection for people, data and the environment.With over 250 years of heritage and operations across 50 countries, we have a workforce of over 17,000 serving our customers worldwide.We cater to both current and future trends with our technologically diverse product portfolio, setting new standards and turning customer ideas into reality and accelerating sustainability.Our mission is to make a better and more sustainable world by connecting talent, textiles and technology.Key ResponsibilitiesTransition of Business Unit costing activities to finance Centre of ExcellenceResponsible for product costing activities performed within the Enterprise Resource Planning system (SAP) for markets that have costing activities centralizedEstablish process for analysis of variances (Price & Factory) and provide business insights including actionable items to reduce variances compared to established standardsProvide support and guidance for inventory valuation, covering activities including calculation of capitalized variances and stock provisionsLiaise with Technology teams to resolve issues in processes or reportsPerform ad hoc analysis as may be required, including deep dives to identify issuesValidate dashboards and reports relating to inventory, procurement and factory performanceSupport any group project that may require centralized costing supportPrincipal Accountabilities and Key ActivitiesSingle point contact for SAP product costingIndependently handle entire product costing activities on SAPRegular review of materials pending for cost release and liaise with markets for timely update of standard costsEnd to end support for the release of standard costs following established methodology for standard cost calculationConduct reviews to ensure the accuracy of standard costsReview and validate master data components impacting product costing such as Bill of Materials, Routings, Costing Lot Size and Procurement KeysOperational AnalysisAnalyze procurement transactions and identify cause for price varianceReview exceptions and abnormal variances and liaise with markets to take corrective actionFactory variance analysis and consolidationDevelop reports providing insights into price and factory variancesMonth Close ActivitiesReview of gross stocks and reports providing value of gross stock based on accounting policyCalculate variance based on accounting policiesAdherence to standard methodology for calculation of provisions and bring improvements in process as requiredAd hoc business supportDeep dives into transactions and processes to identify issues and provide solutionsValidation of dashboards and reportsProvide guidance to markets relating to standard processes and methodologies in areas related to costing and inventory valuationRequired Skills and QualificationsEssential:Certified/Qualified Accountant: An accountant certified by a professional accounting bodyUniversity DegreeA minimum of eight years of post-qualification work experience with a manufacturing organisationMinimum of six years hands-on experience with SAP product costing and end-to-end process knowledgeKnowledge on SAP MM and PP modules, must have experience on how non-financial information impacts costingMust have thorough understanding of SAP CO module and process flow for product costing and fixing errors in costing and transaction processingExperience with analysis of variancesAbility to communicate effectively with stakeholders (oral and written)Ability to work independently or within a team environment and with multiple prioritiesProficiency with spreadsheet applications (excel) and reporting and analysis tools (BW, BCS, Lumira etc.)Desirable:Self-motivatedCollaboration in a remote work environmentAnalytical and logical thinking skillsFocus on quality without sacrifice of timeSelf-learning abilityFlexibility with time and scope of workBenefitsAt Coats Group, we foster a diverse and collaborative environment where every team member can thrive. We are committed to innovation, excellence and making a better and more sustainable world.,