The Costing Manager is responsible for managing and controlling product costing, inventory valuation, and cost analysis across food manufacturing operations. This role ensures accurate standard costing, monitors production variances, supports pricing decisions, and drives cost efficiency while ensuring compliance with accounting standards and food manufacturing requirements.
Key Responsibilities
Costing & Financial Control
- Develop, maintain, and review standard costs for raw materials, packaging, labor, and overheads.
- Perform product costing and margin analysis for existing and new products (NPD).
- Monitor and analyze manufacturing variances (material usage, yield, labor, overhead) and provide actionable insights.
- Ensure accurate inventory valuation in compliance with accounting standards.
Manufacturing & Operations Support
- Work closely with production, procurement, QA, and supply chain teams to control costs and improve efficiency.
- Analyze production yields, wastage, spoilage, and scrap; recommend corrective actions.
- Support factory budgeting, forecasting, and cost control initiatives.
- Participate in BOM (Bill of Materials) setup, review, and maintenance.
Pricing & Business Partnering
- Support pricing strategies, cost simulations, and profitability analysis.
- Provide cost impact analysis for changes in raw materials, packaging, recipes, or processes.
- Act as a finance business partner to operations and commercial teams.
Reporting & Compliance
- Prepare monthly cost reports, variance analysis, and management presentations.
- Support month-end and year-end closing, including inventory counts and audits.
- Ensure compliance with internal controls, policies, and audit requirements.
Continuous Improvement
- Identify opportunities for cost reduction, process improvement, and productivity enhancement.
- Improve costing systems, data accuracy, and reporting tools (ERP, Excel, BI tools).
- Lead or support cost-saving and operational efficiency projects.
Qualifications & Requirements
- Bachelor's degree in Accounting, Finance, or related field.
- 710 years of experience in costing or manufacturing finance, preferably in food or FMCG manufacturing.
- Strong knowledge of standard costing, inventory management, and manufacturing variance analysis.
- Experience with ERP systems (e.g., SAP, Oracle, Dynamics) and advanced Excel skills.
- Understanding of food manufacturing processes, yield management, and wastage control is highly preferred.
