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Senior Cost Optimization Manager

3 weeks ago

Bareilly, Uttar Pradesh, India beBeeCost Full time ₹ 1,80,00,000 - ₹ 2,40,00,000
Key Responsibilities:
  • Cost Efficiency Specialist:
  • Oversee the financial management 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 to stakeholders for process improvements.
  • Develop and maintain standard costing systems, ensuring accuracy in cost allocation for materials, labor, and overheads.
  • Financial Planning & Forecasting:
  • Prepare comprehensive cost budgets, ensuring they align with the company's strategic objectives.
  • Regularly update and forecast costs 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 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 Control & 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
  • Regulatory Compliance & Internal Controls:
  • 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 Enhancement:
  • 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