Job description
Role & responsibilities
Key Responsibilities
1.
End-to-End Product Costing
• Prepare and maintain product cost sheets for all SKUs.
• Calculate product costs, including raw materials, packaging materials, direct labour, utilities, and manufacturing overheads.
• Develop and update standard costs for existing and recent products.
• Perform cost roll-ups for new product launches, product modifications, and recipe changes.
2.
Bill of Materials (BOM) & Recipe Management
• Validate and maintain Bills of Materials (BOMs) and product recipes.
• Ensure accuracy of material consumption, yields, wastage, and process loss assumptions.
• Coordinate with Production, R&D;, and Engineering teams for BOM revisions and approvals.
3.
Manufacturing Cost Analysis
• Analyze manufacturing costs, conversion costs, machine costs, and labour costs.
• Monitor production efficiency, yield losses, scrap, and wastage.
• Identify cost-saving opportunities and recommend process improvements.
4.
Standard Costing & Variance Analysis
• Maintain the standard costing system.
• Analyze material price, usage, labour, overhead, production, and yield variances.
• Investigate cost deviations and recommend corrective actions.
5.
Inventory Costing & Valuation
• Ensure accurate valuation of Raw Materials, Packaging Materials, Work-in-Progress (WIP), and Finished Goods.
• Support monthly inventory reconciliation and stock verification.
• Ensure compliance with inventory accounting policies and accounting standards.
6.
Pricing & Profitability Analysis
• Prepare product cost build-ups for pricing decisions.
• Conduct product-wise, customer-wise, and channel-wise profitability analysis.
• Support commercial teams during pricing reviews and margin improvement initiatives.
7.
Budgeting & Forecasting
• Prepare annual manufacturing cost budgets and forecasts.
• Monitor actual manufacturing costs against budgets.
• Support business planning with accurate cost projections.
8.
Cost Control & Continuous Improvement
• Identify opportunities to reduce production and conversion costs.
• Monitor cost trends and operational efficiencies.
• Participate in cost optimization and value engineering initiatives.
9. MIS & Reporting
• Prepare monthly costing reports, dashboards, and management presentations.
• Generate reports on product costing, inventory, variances, and profitability.
• Provide timely cost information to support business decisions.
10.
Compliance & Audit
• Ensure compliance with Cost Accounting Standards (CAS), Companies Act, GST, and other applicable regulations.
• Support internal audits, statutory audits, and cost audits.
• Maintain costing docume
Preferred candidate profile .
