Manager- Financial Planning, Costing and Analysis

Job Title: Manager-

Industry:

Department:

Reports To:

Key Roles & Responsibilities:

1. Product Costing & Estimation:

• Prepare detailed cost estimates for custom-built capital equipment.
• Analyze Bill of Materials (BOM), process sheets, overheads, and vendor inputs.
• Coordinate with engineering, design, production, and procurement for real-time data.
• Conduct "should-cost" analysis to support competitive pricing.

2. Standard Costing & Variance Analysis:

• Develop and maintain standard costs for components, sub-assemblies, and full equipment.
• Perform monthly analysis of standard vs. actual costs.
• Investigate cost variances related to materials, overheads, and subcontracting.

3. Budgeting & Forecasting:

• Support preparation of manufacturing cost budgets and forecasts.
• Assist in cost impact analysis for new product development or change management.
• Contribute to margin improvement initiatives based on cost trends.

4. Pricing Support:

• Provide cost data to sales and commercial teams for quotations.
• Work with pricing teams to ensure cost competitiveness and profitability.
• Participate in tender costing and pricing submissions for large capital projects.

5. Project & Order Cost Tracking:

• Monitor and report actual cost incurred per project/order.
• Track material consumption, subcontractor billing, and in-process inventory.
• Alert management to cost overruns and support corrective actions.

6. Cost Control & Optimization:

• Identify cost-saving opportunities in procurement, manufacturing, and logistics.
• Conduct make vs. buy analysis.
• Recommend changes in design or process to improve cost-efficiency.

7. Inventory Valuation & Control:

• Ensure accurate valuation of inventory using appropriate costing methods (FIFO, weighted average, etc.).
• Assist in physical inventory verification and reconciliation.
• Monitor WIP (Work-In-Progress) and slow-moving inventory.

8. Reporting & Compliance:

• Prepare periodic cost reports and dashboards for management.
• Support audits (internal/external) with relevant costing documentation.
• Ensure compliance with cost accounting standards and company policies.

Preferred Qualifications & Skills:

• B.E/ B.Tech- Electrical or Mechanical & Cost Accounting (CMA)/ ICWA/ MBA finance.
• 5–10 years of costing experience in capital equipment/heavy engineering industries.
• Proficiency in ERP systems (SAP, Oracle, etc.).
• Strong analytical and communication skills.
• Knowledge of manufacturing processes, materials, and project-based costing.

Location:

Salary:

Jagdish.mali@electrotherm.com