Overview

The Costing Manager is responsible for overseeing and optimizing the costing processes within an organization. This role ensures accurate cost data, supports strategic decision-making, and drives cost reduction initiatives.

Responsibilities

• Cost Estimation:
  • Develop and maintain accurate cost estimates for new products, projects, and services.
  • Analyze cost drivers and identify potential cost-saving opportunities.
• Standard Costing:
  • Establish and maintain standard costs for products and services.
  • Update standard costs regularly to reflect changes in material prices, labor rates, and overhead costs.
• Variance Analysis:
  • Analyze variances between actual costs and standard costs.
  • Identify the root causes of variances and implement corrective actions.
• Cost Reduction:
  • Lead initiatives to reduce costs across various areas of the business.
  • Identify opportunities for process improvement, material substitution, and cost-saving measures.
• Financial Reporting:
  • Prepare and analyze cost reports for management review.
  • Provide cost data to support financial planning and budgeting.
• Data Analysis:
  • Utilize data analytics tools to analyze cost data and identify trends.
  • Develop cost models and simulations to support decision-making.
• Team Management:
  • Lead and manage a team of cost analysts.
  • Provide guidance, training, and support to team members.