Senior Manager - Costing & Pricing - Manufacturing

We Are Hiring - Manager / Senior Manager - Costing & Pricing.

Industry: Manufacturing

Function: Finance / Costing / Commercial Finance

Qualification: CA / CMA / ICWA / MBA Finance / B.Com / M.Com

Experience: Relevant experience in manufacturing costing and pricing is essential

Location: Mumbai.

About the Role:

We are looking for an experienced professional in Product Costing, Standard Costing, Pricing Strategy and Profitability Analysis to support business decisions, improve margins and optimise manufacturing costs.

The ideal candidate should have strong hands-on experience in manufacturing cost structures, product-wise costing, cost variance analysis, pricing models and cross-functional coordination with Production, Procurement, Finance and Sales teams.

Key Responsibilities:

1. Product & Standard Costing:

- Develop and maintain product-wise, SKU-wise, plant-wise and customer-wise costing.

- Calculate product costs covering raw materials, labour, utilities, manufacturing overheads, packaging, freight and conversion costs.

- Review BOM, routing, activity rates and standard costs.

- Analyse standard versus actual cost variances and identify cost drivers.

2. Pricing & Margin Management:

- Develop cost-plus, market-based and value-based pricing models.

- Recommend selling prices based on product costs, market conditions and target margins.

- Prepare pricing proposals for new products, key customers, institutional contracts and export orders.

- Conduct Price-Volume-Mix (PVM) analysis and identify margin leakages.

3. Cost Optimization:

- Identify opportunities to reduce manufacturing costs and improve profitability.

- Analyse material consumption, yield, scrap, rejection, machine utilisation, labour productivity and energy costs.

- Coordinate with Procurement, Production and Engineering teams on cost-saving initiatives.

- Conduct should-cost analysis and manufacturing cost benchmarking.

4. Cost Variance & Profitability Analysis:

- Prepare monthly standard versus actual cost variance reports.

- Analyse material price and usage variances, labour costs, overheads and production efficiency.

- Evaluate profitability by product, customer, plant, business segment and sales channel.

- Support price revisions, make-or-buy decisions, outsourcing and product discontinuation.

5. Budgeting, MIS & ERP:

- Support annual budgets, periodic forecasts and budget-versus-actual analysis.

- Ensure accurate costing data in ERP, including BOM, material masters and cost centres.

- Develop management dashboards and reports using Advanced Excel, Power BI and ERP tools.

- Participate in ERP implementation or upgrades related to costing and pricing.

6. Cross-Functional Business Partnering:

- Work closely with Finance, Procurement, Production, Supply Chain, Sales, R&D, Quality and Plant Operations.

- Provide cost and profitability insights to support commercial negotiations and strategic business decisions.

Key Success Parameters:

- Accuracy and timely completion of product costing.

- Improvement in gross margins and contribution margins.

- Reduction in manufacturing costs and cost variances.

- Identification and realisation of cost-saving opportunities.

- Accuracy of costing MIS, ERP data, budgets and forecasts.

Educational Qualification:

- Preferred: CA / CMA / ICWA.

- Also considered: MBA Finance / Costing, B.Com or M.Com with strong manufacturing costing experience.