The Cost Controller Specialist at Daily dose is responsible for monitoring, analyzing, and controlling costs within the organization to ensure financial efficiency. This role focuses on tracking expenses, optimizing budgets, and identifying cost-saving opportunities. The Cost Controller Specialist will collaborate closely with various departments to implement cost control measures and support the company’s financial goals.

Key Responsibilities:

1. Cost Monitoring & Analysis:
   • Monitor daily, weekly, and monthly costs, ensuring alignment with budgeted targets.
   • Analyze cost structures and report variances to management, providing insights and recommendations for corrective actions.
   • Review cost allocation methods and ensure accurate distribution of expenses across different business units or projects.
2. Budget Management:
   • Assist in the preparation and management of budgets, working closely with department heads to ensure budget adherence.
   • Track actual expenditures against budgets and forecast future costs, identifying potential areas of overspending or savings.
   • Support the annual budgeting process by providing historical cost data and financial analysis.
3. Financial Reporting:
   • Prepare detailed financial reports and presentations on cost performance for senior management.
   • Provide regular updates on key financial metrics, such as cost per unit, cost of goods sold (COGS), and gross margin.
   • Maintain accurate and up-to-date records of all cost-related transactions.
4. Cost Reduction Initiatives:
   • Identify and recommend cost-saving opportunities across the organization, including process improvements, waste reduction, and supplier negotiations.
   • Collaborate with procurement and operations teams to optimize purchasing and inventory management, ensuring cost efficiency.
   • Participate in cross-functional teams to implement and monitor cost reduction initiatives.
5. Inventory & Resource Management:
   • Oversee inventory levels and ensure efficient use of resources, minimizing waste and reducing excess stock.
   • Conduct regular audits of inventory and resource usage to ensure accuracy and compliance with company policies.
   • Work with the supply chain team to ensure optimal inventory levels and timely replenishment.
6. Compliance & Best Practices:
   • Ensure compliance with internal policies and external regulations related to cost control and financial management.
   • Stay updated on industry best practices in cost control and implement relevant strategies within the organization.
   • Develop and maintain documentation of cost control procedures and policies.
7. Collaboration & Support:
   • Provide financial support and guidance to department heads and project managers on cost-related matters.
   • Assist in the training and development of staff on cost control processes and financial management practices.
   • Work closely with the finance team to ensure accurate financial reporting and alignment with overall business objectives.
8. Variance Analysis:
   • Conduct variance analysis to identify discrepancies between actual costs and budgeted amounts, investigating the causes of these variances.
   • Recommend and implement corrective actions to address variances and improve cost management.