Costing Engineering Manager

Summary:

Our client is active seeking a highly analytical and detail-oriented Costing Engineering Manager to join the team of a fast-growing, global-scale manufacturing organization.

Job Responsibilities:

Cost Analysis & Inventory Valuation

• Conduct in-depth variance analysis between standard costs (materials, labour, and overhead) and actual costs, identifying root causes and recommending corrective actions.
• Calculate, update, and maintain standard costs for raw materials, work-in-progress (WIP), and finished goods.
• Prepare monthly inventory valuation reports, including aging analysis, excess and obsolete stock reviews, and reconcile inventory general ledger accounts.
• Support physical inventory counts and cycle count programmes, analyze discrepancies, and ensure timely adjustments to inventory records.

BOM & Routing

• Review and validate the accuracy of Bills of Materials (BOMs) and manufacturing routings within the ERP system.
• Collaborate closely with Engineering and Production teams to ensure BOMs accurately reflect current processes and any engineering changes.
• Assess the financial impact of engineering changes on product costs.

Budgeting & Forecasting

• Contribute to the annual budgeting process by developing detailed manufacturing cost budgets.
• Support cost forecasting initiatives, including raw material price trends, labour rate changes, and overhead absorption analysis.

Operational Support & Cost Optimization

• Partner with Operations and Procurement teams to identify, quantify, and implement cost reduction initiatives.
• Analyze production efficiencies, scrap rates, labour utilization, and process flows to recommend improvements.
• Provide detailed cost analysis and ROI evaluations to support capital expenditure requests.

Candidate Profile:

• Bachelor’s degree in Manufacturing Engineering / Industrial Engineering or related field.
• 9 years of hands-on experience in manufacturing / production cost analysis, ideally within a high-volume manufacturing environment.
• Proven track record in establishing or enhancing product costing frameworks in scalable manufacturing operations.
• Demonstrated experience in analyzing product costs from RFQ stage through to actual cost benchmarking.
• Strong background in inventory management with tangible achievements in improving inventory turns and optimizing stock levels.
• Exposure to market trend analysis, growth opportunity identification, and risk assessment is highly advantageous.
• Advanced proficiency in ERP systems (SAP, Oracle, or equivalent).