Costing Manager

About the Position

Designation:

Work Location

Reporting to

Purpose of the Role

To lead the costing function across spinning, weaving, and denim manufacturing operations, ensuring accurate product costing, efficient cost allocation, and robust cost control. The role will provide actionable insights to improve profitability, optimize resources, and support management in strategic financial decisions.

Key Responsibilities

Costing & Financial Analysis

• Lead preparation of cost sheets, contribution analysis, and monthly operational profitability (MIS).
• Implement and monitor standard costing systems and variance analysis.
• Analyze conversion costs, utility costs (steam, power, air, water), and overhead absorption to identify cost-saving opportunities.
• Ensure accurate costing of raw materials, WIP, and finished goods, including valuation and reconciliations.

Budgeting & Forecasting

• Manage cost-related budgeting and forecasting for manufacturing units.
• Provide insights on cost-benefit analysis of new products and processes.
• Support management decisions with financial projections and scenario planning.

Cost Control & Optimization

• Develop strategies to reduce wastage, improve resource utilization, and drive cost efficiencies.
• Work closely with production, procurement, and supply chain teams to strengthen cost controls.
• Recommend and monitor KPIs for cost efficiency and productivity.

Systems & Compliance

• Ensure timely reporting of costing data and accuracy in ERP/SAP-based systems.
• Manage cost audit compliance, coordination with cost auditors, and submission of statutory returns.
• Ensure adherence to all monthly, quarterly, and annual reporting requirements.

Team Leadership

• Lead and mentor a team of costing professionals and junior accountants.
• Build capabilities in financial analysis, ERP reporting, and modern costing methodologies.
• Foster a culture of accountability, accuracy, and continuous improvement within the team.

Qualification & Experience

• Qualified ICWA (Cost Accountant) / CMA.
• 10+ years in the manufacturing industry, with a minimum 5 years in a managerial role in costing.
• Proven track record in textile industry (spinning/weaving/denim preferred).
• Proficiency in SAP/ERP and advanced MS Excel.
• Strong analytical ability, leadership, cross-functional collaboration, and communication skills.

Key Competencies

• Cost management & optimization mindset.
• Strategic thinking with attention to detail.
• Stakeholder collaboration (Finance, Production, SCM).
• Strong compliance orientation.
• Ability to thrive in high-pressure, fast-paced manufacturing environments.