Senior Manager - Costing

1. Product Costing & BOM Review

Prepare, review, and maintain standard cost sheets in SAP S/4HANA for all capital equipment.

Perform new product costing in collaboration with engineering and sales teams for tenders, product launches and new markets.

Validate and maintain Bills of Materials (BOM) and routings to ensure accurate costing.

2. Inventory & WIP Valuation

Monitor and value raw materials, WIP, and finished goods using SAP S/4HANA inventory modules.

Reconcile physical stock with system records and investigate variances.

3. Variance Analysis

Perform monthly variance analysis for materials, labor, and overhead (price, usage, efficiency, and

absorption variances).

Provide root cause analysis and recommend corrective measures to reduce cost deviations.

4. VAVE & Cost Reduction Initiatives

Collaborate with cross-functional teams on Value Analysis/Value Engineering (VAVE) initiatives to

identify and implement cost-saving opportunities.

Support procurement and engineering in sourcing alternatives and optimizing design for cost

efficiency.

5. Budgeting & Forecasting Support

Assist in preparing annual budgets and rolling forecasts for production costs.

Support cost estimation for CAPEX projects and cost-benefit analysis.

6. Compliance & Reporting

Ensure cost records comply with statutory requirements (Cost Audit, Cost Accounting Standards).

Generate monthly, quarterly, and annual cost reports for management and auditors.

7. Cross-Functional Collaboration

Work closely with production, engineering, procurement, and sales to provide timely and accurate

cost information.

Support pricing decisions with cost data and profitability analysis.

Required Qualifications

Education: CMA / CA (Inter) / MBA Finance or equivalent.

Experience: 12–18 years in cost accounting within manufacturing (preferably heavy engineering,

machinery, or capital equipment).

Mandatory Skills:

Hands-on experience with SAP S/4HANA costing, inventory, and production modules.

Strong exposure to new product costing and VAVE initiatives.

Proficiency in MS Excel and analytical tools (Power BI).