Chief Cost Optimization Specialist

3 days ago

Bengaluru, Karnataka, India beBeeCostEstimator Full time ₹ 9,00,000 - ₹ 12,00,000
Job Description:

We are seeking a Cost Estimator to oversee all cost-related activities, from detailed analysis and reporting to inventory management and budget forecasting. This role is crucial for ensuring accurate cost calculations, identifying cost efficiencies, and supporting strategic pricing and cost control initiatives.

Key Responsibilities

Cost Analysis & Reporting:

  • Prepare and maintain accurate cost sheets for all products, including raw materials, labor, overheads, and other costs.
  • Perform periodic analysis of costs for production, inventory, and overheads, and provide insights to improve cost efficiency.
  • Develop and implement cost models and ensure that accurate data is used for cost calculations.

Inventory Management:

  • Monitor and control raw material and finished goods inventory to ensure proper valuation.
  • Work with the production team to identify any cost discrepancies between standard and actual costs.

Budgeting & Forecasting:

  • Assist in preparing annual and monthly budgets related to manufacturing costs.
  • Work closely with other departments (e.g., production, procurement) to ensure cost targets are met and forecast variances are understood.

Product Pricing:

  • Assist in setting product pricing based on accurate costing and market analysis.
  • Evaluate and suggest cost optimization strategies to maintain competitive pricing.

Cost Control:

  • Identify and analyze areas where costs can be minimized without compromising quality.
  • Provide management with recommendations for cost-saving initiatives, ensuring alignment with business goals.

Internal Controls & Compliance:

  • Ensure compliance with financial and cost accounting standards.
  • Implement and maintain effective internal controls for cost-related processes.
  • Liaise with auditors to ensure transparency and proper accounting practices.

Data Analysis & Reporting:

  • Generate detailed cost reports for senior management, highlighting key trends, variances, and areas of concern.
  • Provide management with actionable insights based on cost data, supporting strategic decision-making.
Skills Required
  • Expertise in cost estimation and reporting.
  • Proficiency in developing and implementing cost models.
  • Strong knowledge of inventory valuation and control.
  • Experience in budgeting and forecasting manufacturing costs.
  • Ability to perform product pricing analysis.
  • Proven track record in cost control and optimization.
  • Understanding of financial and cost accounting standards and internal controls.
  • Excellent data analysis and reporting skills.

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