Chief Cost Strategist

1 day ago

Belgaum, Karnataka, India beBeeCostManager Full time ₹ 1,91,46,000 - ₹ 2,14,19,000
Job Overview

Key Responsibilities:

  • Oversee and manage the cost accounting function to ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS).
  • Conduct detailed variance analysis, identify cost reduction opportunities, and provide recommendations for process improvements.
  • Develop and maintain standard costing systems to accurately allocate costs for materials, labor, and overheads.
  • Financial Planning & Analysis:
  • Prepare comprehensive financial plans, ensuring alignment with company strategic objectives.
  • Regularly update and forecast financial data based on business dynamics, collaborating with key departments for timely inputs.
  • Monitor expenditure against budgeted figures and take corrective action where necessary.
  • Cost Optimization:
  • Provide regular and detailed cost optimization reports, including variance analysis and insights on cost trends.
  • Present findings to senior management, highlighting key cost drivers and offering actionable recommendations for improvement.
  • Inventory Management:
  • Ensure accurate inventory valuation for raw materials, work-in-progress (WIP), and finished goods using appropriate costing methods.
  • Implement robust processes to minimize inventory obsolescence, improve inventory turnover, and ensure accurate inventory records.
  • Perform inventory revaluation.
  • Internal Controls & Compliance:
  • Ensure adherence to accounting standards, financial regulations, and internal controls related to costing, inventory, and financial reporting.
  • Assist with internal and external audits by providing accurate and comprehensive costing and inventory data.
  • Process Improvement:
  • Continuously assess costing methods and accounting processes to identify and implement improvements for enhanced efficiency and accuracy.
  • Develop and integrate new systems or tools for better cost tracking, data analysis, and reporting.
  • Cross-Functional Collaboration:
  • Collaborate with production, procurement, and supply chain teams to gather relevant data for cost tracking and forecasting.
  • Provide cost insights for pricing decisions, product profitability analysis, and overall business strategy.

Required Skills & Qualifications:

  • Education:
  • ICWA certification is required.
  • CA.
  • Experience:
  • Minimum 8-10 years of experience in cost accounting, costing management, or financial analysis in a manufacturing or production environment.
  • Proven expertise in managing costing systems, preparing budgets, performing variance analysis, and generating detailed cost reports.
  • Experience in using ERP systems such as SAP, Oracle, or similar financial management software is highly desirable.
  • Personal Attributes:
  • Strong analytical and problem-solving abilities.
  • Ability to communicate complex financial data clearly to non-financial stakeholders.
  • Excellent organizational, time-management, and multi-tasking skills.

A proactive and results-driven professional with a commitment to continuous improvement.

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