Cost Accountant - Manufacturing

Cost Accountant

Job Description And Roles And Responsibilities:

Summary of Responsibilities:

- Scouting & Evaluation of new suppliers & existing suppliers for technical feasibility & financial capability.

- Estimate & establish the cost parameters and budgeting for purchase.

- Monitor & review products & supplies to ensure quality.

- Organize & update the Supplier Relationship Management (SRM) supplier base with various parameters like annual turnover, Certification, PPM, No. of complaints, and the position in the supplier pyramid.

- Good coordination with engineering, stores, PPC & finance departments.

- Work with team members and supervisors to develop the purchase plan & formulate a budget for a business plan.

- MIS presentation of inventory tracking, and supplier issues, key achievements.

- Alternate source development as a risk mitigation strategy.

- Responsible for product costing, manufacturing, analysis, and inventory.

- Generation and communication of authentic information at various levels of management.

- Help in strategic Planning, Management Control, Operational control, and transaction processing.-

- For Junior Management: Providing the operational data for planning, scheduling, control and helping them further in decision-making at the operation level decisions.

- For Middle Management: Help In short-term planning, target setting and controlling the business functions.

- For Top- Level Management: Help in goal setting, strategic planning and evolving the business plans and their implementation.

- Perform month end close activities related to Cost Accounting.

- Work experience in project costing. Prepare actual vs. plan (budget) analysis.

- Various financial analysis related to manufacturing costs, inventory, and expense information for various customers as needed for decision making support.

- Set up new raw material, packaging, WIP, and FG items; create and maintain production BOMs; maintain periodic cost rolls/updates.

- Analyses changes in product design, raw materials, manufacturing methods, or services provided, to determine effects on costs. Analyses actual production costs and prepares periodic reports comparing standard costs to actual production costs.

- Records cost information for use in controlling expenditures.

- Prepares estimates of new and proposed product or service costs.

- Recommends cost efficiencies in new product layouts.

- Provides management with reports specifying and comparing factors affecting prices and profitability of products or services.

- Develop and maintain standard costs of finished goods and production components in SAP.

- Maintain and improve processes and controls associated with manufacturing costs and inventory valuation inventory control, production, and work order processing.

- Assist in developing and documenting policies and procedures, including system requirements and internal controls.

- Design strategies to improve operations, reduce costs, etc.

- Setting up the budgeting process for the units .

- Cost Audit Finalisation. Business plan preparation for all Units.

Key Accountabilities & Responsibilities of the position holder:

- Comprehensive knowledge of the market and the distribution network for the product

- Competence in analysis

- Numeracy abilities and computer skills

- Attention to detail.

- Skills in organization and communication are required.

Leadership:

- Coaching Mentoring, Conflicts Resolution, Team Succession Planning,- and Implementation of team continues success for team upgradation.

- Essential Software Skills:- SAP