Job Title: Senior Costing Analyst / Costing ManagerLocation: Gurgaon Department: Finance / Costing Experience Required: 7 to 8 Years Educational Qualification: B.Tech (Mechanical / Automobile / Industrial Engineering) Preferred Qualification: ICWA/CMA/MBA (Finance) is an added advantage.Job Summary:We are seeking a highly skilled Senior Costing Analyst / Costing Manager to oversee cost analysis, cost control, and cost optimization within our automobile manufacturing operations. The role involves conducting product costing, budgeting, variance analysis, and financial reporting to improve cost efficiency and enhance profitability. The ideal candidate should have in-depth knowledge of automotive components, Bill of Materials (BOM), manufacturing processes, and cost accounting standards.Key Responsibilities:1. Product Costing & Analysis:Prepare detailed cost estimates for automotive components, sub-assemblies, and final products.Conduct cost breakdown analysis, considering raw materials, labor, overheads, machine hours, and tooling costs.Develop and maintain cost models and databases for accurate cost forecasting.Work closely with R&D, Production, and Procurement teams to validate cost structures for new and existing products.Analyze design changes and engineering modifications to determine cost impact.2. Cost Optimization & Reduction:Identify cost-saving opportunities in materials, production processes, supply chain, and logistics.Conduct make vs. buy analysis to determine whether to manufacture or outsource components.Implement lean manufacturing and value engineering principles to reduce production costs.Monitor key cost drivers and recommend process improvements to enhance cost efficiency.Support Kaizen, Six Sigma, and continuous improvement initiatives to optimize costs. 3. Budgeting, Forecasting & Financial Reporting:Assist in annual budget preparation, cost allocation, and financial planning.Prepare variance analysis reports (Planned vs. Actual Costs) and provide recommendations.Conduct profitability analysis for different product lines, customer segments, and plant locations.Prepare Management Information System (MIS) reports on product costs, operational expenses, and cost trends.Work with finance teams to ensure cost control measures align with company financial goals.4. Cost Control & Standardization:Establish cost control policies and ensure compliance with industry standards.Develop and implement standard costing systems for automotive parts and processes.Conduct periodic cost audits to validate actual vs. standard costs.Benchmark company cost structures against industry best practices to maintain competitiveness.5. Vendor & Supplier Cost Evaluation:Evaluate supplier quotations, cost structures, and material pricing trends.Work closely with procurement teams to negotiate optimal pricing from vendors.Conduct should-cost analysis for raw materials and outsourced components.Assess tooling, machine, and capital investment costs for vendor selection and contract finalization.Track fluctuations in commodity prices (steel, aluminum, plastics, etc.) and assess their impact on product costs.6. Process Improvement & Data Analysis:Implement ERP/SAP systems for cost tracking and data analytics.Automate costing workflows to improve accuracy and reduce manual errors.Use data analytics and business intelligence tools to monitor cost trends.Collaborate with IT teams to enhance costing software and system efficiency.
