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Cost Analyst

Cost Analyst

CoatsPrayagraj(Allahabad), IN
3 days ago
Job description

About the job

Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data and the environment.

Trusted by the world's leading companies to deliver crucial, innovative, and sustainable solutions, we provide value-adding products including apparel, footwear and specialty threads.

With a proud heritage dating back more than 250 years and a spirit of evolution to constantly stay ahead of changing market needs, we have operations across 50 countries with a workforce of over 17,000, serving our customers worldwide.

Following the acquisition of Texon and Rhenoflex, new Coats Footwear now has a complete range of footwear components to meet your needs, from heel counters to toe puffs and everything in-between. Through our technologically diverse product portfolio, we can cater to both current and future trends, setting new standards in the process, turning customer ideas into a reality and accelerating sustainability.

Headquartered in the UK, Coats

  • connects talent, textiles, and technology to make a better and more sustainable world.

For more info, visit our website : www.coats.com

Role Purpose

  • Transition of BU level costing activities to finance CoE
  • Responsible for product costing activities performed with in the ERP system (SAP) for the markets that have costing activities centralised
  • Establish process for analysis of variances (Price & Factory) and provide business insights including actionable items to reduce variances compared to established standards
  • Provide support and guidance for inventory valuation. This covers activities including calculation of capitalized variances and stock provisions
  • Liaise with technology teams to resolve issues in processes or reports
  • Perform ad hoc analysis as may be required including deep dives to identify issues
  • Validate dashboards and reports relating to inventory, procurement and factory performance
  • Support any group project that may require centralised costing support

    • Principal Accountabilities and Key Activities

    Single point contact for SAP product costing

  • Independently handle entire product costing activities on SAP.
  • Regular review of materials that are pending for cost release and liaise with markets for timely update of standard costs.
  • End to end support for the release of standard costs following established group methodology for standard cost calculation
  • Conduct reviews to ensure the accuracy of the standard costs
  • Review and validate master data components that have impact on product costing such as Bill of Materials, Routings, Costing Lot Size and Procurement Keys

    • Operational Analysis

  • Analyze procurement transactions and identify the cause for price variance
  • Review exceptions and abnormal variances and liaise with markets to take corrective action
  • Factory variance analysis and consolidation
  • Develop reports that provide insights into price and factory variances

    • Month Close Activities

  • Review of gross stocks and reports that provide value of gross stock based on group accounting policy
  • Calculate variance to be calculated based on group policies
  • Adherence to standard methodology for calculation of provisions and bring improvements in process as required

    • Ad hoc business support

  • Deep dives into transactions and processes to identify issues that may be present and provide solutions for such issues
  • Validation of dashboards and reports
  • Provide guidance to markets relating to standard processes and methodologies in areas related to costing and inventory valuation

    • Liaise with technology teams in resolution of issues with reports and processes

    Education, Qualification and Experience :

    Essential :

  • Certified / Qualified Accountant : An accountant certified by a professional accounting body (Chartered accountant or Cost and Management Accountant)
  • University Degree
  • A minimum of eight years of post-qualification work experience with a manufacturing organisation
  • Minimum of six years hands on experience with SAP product costing and end to end process knowledge
  • Knowledge on SAP MM and PP modules. Must have experience on how the non-financial information impacts costing.
  • Must have thorough understanding of SAP CO module and process flow for product costing and fixing errors in costing and transaction processing.
  • Experience with analysis of variances
  • Ability to communicate effectively with stakeholders (oral and written)
  • Ability to work independently or within a team environment and with multiple priorities.
  • Proficiency with spreadsheet applications (excel) and reporting and analysis tools (BW, BCS, Lumira etc.)

    • Desirable

  • Self-motivated
  • Collaboration in a remote work environment
  • Analytical and logical thinking skills
  • Focus on quality without sacrifice of time
  • Self-learning ability
  • Flexibility with time and scope of work

    • At Coats Group, we are committed to innovation, excellence, and fostering a diverse and collaborative environment where every team member can thrive. If you are passionate about making an impact in the textile industry and eager to join a global leader with a rich heritage and a forward-thinking approach, we invite you to take the next step in your career with us.

    Apply now to be part of our dynamic team and help shape the future of textiles.

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    Analyst • Prayagraj(Allahabad), IN

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