Chief Cost Optimization Specialist

6 days ago

Gulbarga, Karnataka, India beBeeCostManagement Full time ₹ 1,80,00,000 - ₹ 2,20,00,000

Key Responsibilities:

  • Cost Analysis & Management:
  • Oversee the cost accounting function to ensure accurate calculation of product costs, manufacturing overheads, and cost of goods sold (COGS).
  • Perform detailed cost variance analysis, identify cost reduction opportunities, and provide recommendations for process improvements.
  • Develop and maintain standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads.

Budgeting & Forecasting Strategy:

  • Prepare comprehensive cost budgets, ensuring they align with the company's financial goals and strategic objectives.
  • Regularly update and forecast costs based on business dynamics, collaborating with key departments for timely inputs.

Cost Reporting Insights:

  • Provide regular and detailed costing reports, including standard Vs Actual variance analysis and insights on cost trends.
  • Present findings to senior management, highlighting key cost drivers and offering actionable recommendations for improvement.

Inventory Valuation & 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.

Internal Controls & Compliance Framework:

  • 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 Initiatives:

  • 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.

Qualifications & Requirements:

  • Education:
  • Institute of Cost and Works Accountants (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.
  • Strong analytical and problem-solving abilities.
  • Ability to communicate complex financial data clearly to non-financial stakeholders.

A highly proactive and results-driven professional with a commitment to continuous improvement and excellent communication skills.

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