Costing Manager

Key Responsibilities 1. Product Costing

• Prepare and maintain standard product costing.
• Update Bills of Materials (BOM) and routing costs.
• Calculate manufacturing and conversion costs.
• Analyse product profitability by product, customer, plant, and business.

2. Manufacturing Cost Analysis

• Monitor and analyse manufacturing costs including raw materials, alloys, power, fuel, labour, consumables, maintenance, logistics, packaging, and overheads.
• Prepare detailed product cost sheets and identify cost-saving opportunities.

3. Inventory Costing

• Ensure accurate valuation of raw materials, WIP, finished goods, stores & spares, scrap, and by-products.
• Prepare monthly inventory valuation, ageing reports, and reconcile inventory costs with financial records.

4. Cost Variance Analysis

• Analyse material, labour, power, overhead, and production variances.
• Identify reasons for variances and recommend corrective actions.

5. Budgeting & Cost Planning

• Support Annual Operating Plan (AOP) and manufacturing budgets.
• Prepare cost forecasts, profitability analysis, and monitor budget vs. actual performance.

6. MIS & Management Reporting

• Prepare monthly cost reports, dashboards, profitability reports, KPI reports, and cost trend analysis.
• Present key cost insights to management.

7. Cost Optimization

• Drive initiatives for cost reduction through process improvement, yield enhancement, inventory optimization, energy efficiency, and waste reduction.
• Track cost-saving projects and benefits achieved.

8. ERP & Costing Systems

• Maintain costing data in ERP, including standard costs, BOMs, routing, and inventory costing.
• Coordinate with IT for system improvements.

9. Internal Controls & Governance

• Develop and maintain costing procedures, internal controls, SOPs, and documentation.
• Ensure compliance with Internal Financial Controls (IFC).

10. IPO & Governance Support

• Support finance team in IPO readiness, audit documentation, due diligence, board reporting, and governance requirements.

11. Statutory Compliance

• Ensure compliance with Cost Accounting Standards, Companies Act, GST, Ind AS, and audit requirements.
• Coordinate with internal, statutory, and cost auditors.

12. Cross-Functional Coordination

• Work closely with Production, Purchase, Supply Chain, Quality, Maintenance, Sales, Planning, Finance, and Audit teams to improve costing accuracy and operational efficiency