Costing And Mis Executive

Role & responsibilities

1. Plant Costing & Product Costing

* Manage the end-to-end costing of plant operations and products.

* Prepare and maintain product-wise cost sheets.

* Calculate material, labour, power, fuel, consumables, overheads, processing costs, and other manufacturing costs.

* Maintain standard costing and periodically update costs based on changes in material prices, processes, utilities, and overheads.

* Analyse the impact of changes in raw-material prices, production volumes, process changes, and other cost drivers.

2. Variable Costing & Analysis

* Monitor and analyse variable costs on a product-wise and plant-wise basis.

* Track major variable cost components such as:

• Raw materials
• Packaging materials
• Power & fuel
• Consumables
• Direct labour
• Process losses / wastage
• Job work / subcontracting
• Other variable manufacturing expenses

* Prepare monthly variable-cost reports and explain major deviations from standard/budget costs.

* Conduct cost-driver analysis and identify areas of cost improvement.

3. BOM & Cost Sheet Management

* Prepare, verify, and maintain Bill of Materials (BOM) for all products/SKUs.

* Ensure BOM accurately reflects actual production processes and material consumption.

* Calculate BOM-based product costing.

* Coordinate with Production/Engineering teams for changes in BOM, process routes, yields, and material consumption.

* analyse the financial impact of BOM and process changes.

4. Variance Analysis

* Conduct actual vs. standard/budget cost variance analysis.

* analyse variances related to:

• Material price
• Material consumption
• Production yield
• Wastage/scrap
• Labour
• Power & fuel
• Production volume
• Overheads
• Purchase price

* Prepare monthly variance reports with clear explanations and actionable insights.

* Highlight abnormal cost movements to management.

5. Cost Control & Cost Reduction

* Identify opportunities for cost reduction and process improvement.

* Work with cross-functional teams to identify excessive consumption, wastage, inefficiencies, and cost leakages.

* Track cost-saving initiatives and quantify their financial impact.

* Develop cost benchmarks for products/processes wherever required.

6. MIS & Management Reporting

* Prepare regular plant costing MIS and management reports.

* Develop dashboards/reports covering:

• Product-wise cost
• Variable cost per unit
• Material consumption
• Conversion cost
• Production cost
• Standard vs. actual cost
• Cost variance
• Cost per kg/unit
• Yield and wastage

* Provide meaningful analysis and recommendations to Plant and Finance management.

7. Budgeting & Forecasting

* Support preparation of annual plant budgets and cost standards.

* Prepare cost forecasts based on production plans, raw-material prices, utilities, manpower, and other cost assumptions.

* Monitor actual performance against budget and forecast.

8. Cross-Functional Coordination

* Coordinate with Purchase, Stores, Production, PPC, Engineering, Maintenance, Quality, Sales, and Finance teams for accurate costing data.

* Validate consumption and operational data used for costing.

* Participate in new-product development and provide cost estimates for new products/processes.

Key Deliverables / KPIs

* Accuracy and timeliness of product costing.

* Accuracy and maintenance of BOMs.

* Monthly variable-cost analysis.

* Actual vs. standard cost variance reporting.

* Identification and tracking of cost-reduction opportunities.

* Accuracy of plant cost budgets and forecasts.

* Reduction in unexplained cost variances.

* Timely submission of plant costing MIS.

* Improvement in material yield and reduction in wastage/cost leakages.

Required Skills

* Strong knowledge of manufacturing costing and cost accounting.

* Good understanding of BOM, standard costing, variable costing, and variance analysis.

* Strong Excel skills, including Pivot Tables, VLOOKUP/XLOOKUP, SUMIFS, Power Query, and basic data analysis.

* Experience with ERP systems such as SAP / Oracle / Microsoft Dynamics / Tally will be preferred.

* Strong analytical and problem-solving skills.

* Ability to work with large volumes of operational and financial data.

* Good understanding of manufacturing processes and cost drivers.

* Strong communication and coordination skills.

Preferred candidate profile