Cost Analyst ( Manufacturing )

Position Overview:

We are seeking a detail-oriented and highly skilled Cost Analyst to join our manufacturing team. The ideal candidate will have experience in the manufacturing industry and a strong background in cost accounting, financial analysis, and process optimization. The Cost Analyst will be responsible for monitoring, analyzing, and controlling costs to ensure accurate financial reporting and efficient resource allocation within the manufacturing operations.

Key Responsibilities:

• Costing Analysis:
• Prepare and analyze detailed cost reports for manufacturing processes including labor, materials, overhead, and other production-related costs.
• Develop standard costs for products and services, regularly updating them to reflect changes in production processes or materials.
• Cost Control:
• Monitor and report on manufacturing costs, ensuring they stay within the allocated budget.
• Identify cost-saving opportunities and work closely with operations teams to recommend and implement improvements.
• Inventory Management:
• Ensure accurate inventory cost accounting, including periodic physical counts and reconciliation of inventory records.
• Analyze inventory turnover and material usage, highlighting areas of inefficiency or waste.
• Budgeting and Forecasting:
• Assist in the preparation of annual manufacturing budgets and periodic forecasts.
• Collaborate with production managers to forecast costs and evaluate financial performance.
• Variance Analysis:
• Perform regular variance analysis, identifying and explaining discrepancies between actual and standard costs.
• Communicate findings to management and recommend corrective actions.
• Process Improvement:
• Work with production teams to identify cost-effective strategies and process improvements for manufacturing operations.
• Analyze production methods and recommend alternative processes to optimize cost efficiency.
• Reporting:
• Prepare regular financial reports on manufacturing costs, profit margins, and production efficiency.
• Provide clear and concise cost breakdowns to senior management and other departments as needed.
• Collaboration:
• Collaborate with cross-functional teams, including finance, operations, and procurement, to ensure cost control and optimization across the manufacturing process.
• Provide cost-related insights for new projects, product development, and process changes.

Qualifications:

• Education:
• Bachelors degree in Accounting, Finance, Business Administration, or related field.
• Experience:
• Minimum of 3-5 years of experience in cost analysis or cost accounting within a manufacturing environment.
• Strong knowledge of cost accounting methodologies, including standard costing, job order costing, and process costing.
• Experience working with enterprise resource planning (ERP) systems and financial software tools.
• Skills & Competencies:
• Strong analytical skills with the ability to interpret financial data and create actionable insights.
• Proficiency in Microsoft Excel and other data analysis tools.
• Knowledge of manufacturing processes and cost drivers.
• Excellent communication skills to explain complex financial data to non-financial stakeholders.
• Attention to detail with strong organizational and time management skills.
• Certifications (Optional but Preferred):
• Certified Management Accountant (CMA) or Certified Public Accountant (CPA) is a plus.

Job Type: Full-time

Pay: ﷼9,000.00 - ﷼10,000.00 per month

Experience:

• Cost Manufacturing: 5 years (Required)