Costing And Mis Executive

Paracoat Products Ltd.; Panchmahal District; On-site; INR 800,000 - 1,200,000; Full time

Job summary

Paracoat Products Ltd. is seeking a Plant Costing & Costing Specialist to manage end-to-end plant and product costing. You will prepare BOMs, cost sheets, and monitor BOM accuracy, material usage, and process costs. The role requires strong costing knowledge and cross-functional coordination across production, purchasing, and finance.

The candidate will drive cost analysis, budgeting support, and MIS reporting to enable cost improvements and efficiency gains in a manufacturing setup.

Qualifications

• Strong knowledge of manufacturing costing and cost accounting.
• Proficient in BOM, standard costing, variable costing, and variance analysis.
• Advanced Excel skills: Pivot Tables, VLOOKUP/XLOOKUP, SUMIFS, Power Query.

Responsibilities

• Costing of plant operations and products end-to-end.
• Prepare and maintain product-wise cost sheets and BOMs.
• Monitor and analyse variable costs by product/plant; report deviations.

Skills

Cost accounting

Manufacturing costing

Excel advanced

Data analysis

Costing software knowledge

Tools

SAP

Oracle

Microsoft Dynamics

Tally

Job description

Role & responsibilities

1. Plant Costing & Product Costing

• Manage the end-to-end costing of plant operations and products.
• Prepare and maintain product-wise cost sheets.
• Calculate material, labour, power, fuel, consumables, overheads, processing costs, and other manufacturing costs.
• Maintain standard costing and periodically update costs based on changes in material prices, processes, utilities, and overheads.
• Analyse the impact of changes in raw-material prices, production volumes, process changes, and other cost drivers.

2. Variable Costing & Analysis

• Monitor and analyse variable costs on a product-wise and plant-wise basis.
• Track major variable cost components such as:
  • Raw materials
  • Packaging materials
  • Power & fuel
  • Consumables
  • Direct labour
  • Process losses / wastage
  • Job work / subcontracting
  • Other variable manufacturing expenses
• Prepare monthly variable-cost reports and explain major deviations from standard/budget costs.
• Conduct cost-driver analysis and identify areas of cost improvement.

3. BOM & Cost Sheet Management

• Prepare, verify, and maintain Bill of Materials (BOM) for all products/SKUs.
• Ensure BOM accurately reflects actual production processes and material consumption.
• Calculate BOM-based product costing.
• Coordinate with Production/Engineering teams for changes in BOM, process routes, yields, and material consumption.
• analyse the financial impact of BOM and process changes.

4. Variance Analysis

• Conduct actual vs. standard/budget cost variance analysis.
• analyse variances related to:
  • Material price
  • Material consumption
  • Production yield
  • Wastage/scrap
  • Labour
  • Power & fuel
  • Production volume
  • Overheads
  • Purchase price
• Prepare monthly variance reports with clear explanations and actionable insights.
• Highlight abnormal cost movements to management.

5. Cost Control & Cost Reduction

• Identify opportunities for cost reduction and process improvement.
• Work with cross-functional teams to identify excessive consumption, wastage, inefficiencies, and cost leakages.
• Track cost-saving initiatives and quantify their financial impact.
• Develop cost benchmarks for products/processes wherever required.

6. MIS & Management Reporting

• Prepare regular plant costing MIS and management reports.
• Develop dashboards/reports covering:
  • Product-wise cost
  • Variable cost per unit
  • Material consumption
  • Conversion cost
  • Production cost
  • Standard vs. actual cost
  • Cost variance
  • Cost per kg/unit
  • Yield and wastage
• Provide meaningful analysis and recommendations to Plant and Finance management.

7. Budgeting & Forecasting

• Support preparation of annual plant budgets and cost standards.
• Prepare cost forecasts based on production plans, raw-material prices, utilities, manpower, and other cost assumptions.
• Monitor actual performance against budget and forecast.

8. Cross-Functional Coordination

• Coordinate with Purchase, Stores, Production, PPC, Engineering, Maintenance, Quality, Sales, and Finance teams for accurate costing data.
• Validate consumption and operational data used for costing.
• Participate in new-product development and provide cost estimates for new products/processes.

Key Deliverables / KPIs

• Accuracy and timeliness of product costing.
• Accuracy and maintenance of BOMs.
• Monthly variable-cost analysis.
• Actual vs. standard cost variance reporting.
• Identification and tracking of cost-reduction opportunities.
• Accuracy of plant cost budgets and forecasts.
• Reduction in unexplained cost variances.
• Timely submission of plant costing MIS.
• Improvement in material yield and reduction in wastage/cost leakages.

Required Skills

• Strong knowledge of manufacturing costing and cost accounting.
• Good understanding of BOM, standard costing, variable costing, and variance analysis.
• Strong Excel skills, including Pivot Tables, VLOOKUP/XLOOKUP, SUMIFS, Power Query, and basic data analysis.
• Experience with ERP systems such as SAP / Oracle / Microsoft Dynamics / Tally will be preferred.
• Strong analytical and problem-solving skills.
• Ability to work with large volumes of operational and financial data.
• Good understanding of manufacturing processes and cost drivers.
• Strong communication and coordination skills.