Job Summary:
The Cost Analyst is responsible for analyzing and reporting cost-related data to support effective decision-making and cost control within the organization. This role focuses on identifying cost drivers, monitoring variances, supporting budgeting and forecasting processes, and ensuring accurate allocation of costs to products, services, and departments. The Cost Analyst works closely with operations, finance, and procurement teams to provide insights that drive operational efficiency and profitability.
Job Scope:
- Analyze production costs, material usage, labor expenses, and overhead to ensure accurate costing.
- Monitor and investigate cost variances and provide explanations and corrective actions where needed.
- Support the development and monitoring of standard costs, bill of materials, and inventory valuation.
- Assist in monthly closing activities related to cost accounting, including journal entries, accruals, and reconciliations.
- Collaborate with the finance team to prepare cost forecasts and annual budgets.
- Conduct margin analysis, pricing simulations, and cost-benefit assessments to support business decisions.
- Review and ensure compliance with internal controls related to cost reporting and inventory management.
- Prepare and present cost reports and performance dashboards to stakeholders and management.
- Partner with supply chain, operations, and other teams to assess cost-saving opportunities and process improvements.
- Assist in system implementations and enhancements related to cost tracking and reporting tools (e.g., SAP, ERP platforms).
