Costing Executive (Manufacturing) – Job Description

Position Summary

The Costing Executive is responsible for preparing, analyzing, and maintaining product costing information to support pricing decisions, profitability analysis, and cost control initiatives. The role works closely with Sales, Purchasing, Production, and Finance teams to ensure accurate product costing and margin analysis.

Key Responsibilities

Cost Estimation &Quotation Support

·        Prepare product cost calculations based on material, labor, overhead, and subcontracting costs.

·        Review customer RFQs and provide accurate costing for quotations.

·        Work closely with the Sales team to support pricing strategies and tender submissions.

·        Update costing models in line with changes in material prices, exchange rates, and manufacturing processes.

Cost Analysis & Control

·        Analyze manufacturing costs and identify cost-saving opportunities.

·        Monitor actual costs against standard costs and investigate variances.

·        Conduct profitability and margin analysis for products and customers.

·        Support management in budgeting and forecasting activities.

Material &Production Cost Management

·        Liaise with Purchasing to obtain material pricing and supplier quotations.

·        Maintain and update BOM (Bill of Materials) costing data.

·        Review labor and machine utilization costs to ensure accurate cost allocation.

·        Support inventory valuation and cost accounting activities.

Reporting

·        Prepare monthly costing and margin reports for management review.

·        Generate cost analysis reports for new and existing products.

·        Maintain costing records and supporting documentation.

·        Ensure data accuracy and compliance with company policies.

Continuous Improvement

·        Recommend process improvements to enhance costing accuracy and efficiency.

·        Support ERP system maintenance and costing-related master data updates.

·        Participate in cross-functional projects to improve operational profitability.

Requirements

·        Diploma or Degree in Accounting, Finance, Business, Engineering, or a related field.

·        2–5 years of experience in manufacturing costing, cost accounting, or financial analysis.

·        Strong knowledge of costing methodologies, BOM structures, and manufacturing processes.

·        Proficiency in Microsoft Excel and ERP systems.

·        Strong analytical and problem-solving skills.

·        Good communication and interpersonal skills.

·        Ability to work independently and meet deadlines.

Preferred Qualifications

·        Experience in electronics, precision engineering, metal fabrication, or contract manufacturing industries.

·        Knowledge of standard costing and variance analysis.

·        Familiarity with SAP, Oracle, Microsoft Dynamics, or other ERP systems.