Durban: Manufacturing Cost Analyst posted by Tower Group
Posted on 2025-06-17 00:00:00
| Employer | Tower Group |
|---|---|
| Category | Manufacturing Production |
| Location | Kwazulu-Natal / Durban |
Job Summary
The Manufacturing Cost Analyst is responsible for analyzing and reporting on manufacturing costs, variances, and cost trends to support informed decision-making, improve cost control, and ensure accurate product costing. This role works closely with production, procurement, supply chain, and finance teams to ensure data accuracy and visibility of manufacturing performance and profitability.
Minimum Skills & Knowledge Required (Competencies)
Minimum 35 years experience in a manufacturing cost accounting or financial analysis role.
Practical knowledge of product costing, BOMs, inventory accounting, and cost variance analysis.
Experience supporting operations or supply chain functions with financial insights.
Key Skills & Competencies:
Strong analytical and cost accounting skills in a manufacturing environment.
Proficient in ERP systems (e.g., SAP, Oracle, SYSPRO) and advanced Excel.
Hands-on experience with SQL databases and report writing tools (e.g., Power BI, SSRS, Crystal Reports).
Good understanding of manufacturing workflows, cost drivers, and inventory processes.
Ability to communicate technical financial concepts clearly to both finance and non-finance stakeholders.
Strong problem-solving skills and attention to detail.
Self-motivated, organized, and able to manage multiple tasks in a dynamic environment.
Key Responsibilities:
Cost Accounting & Analysis
Maintain and monitor the standard cost system including materials, labour, and overhead.
Analyze and report on cost variances (material usage, labour efficiency, overhead recovery) and identify root causes.
Provide monthly cost reports with insights and actionable recommendations to improve operational cost efficiency.
Reconcile standard vs. actual costs, highlighting key variances and suggesting corrective actions.
Product Costing & Inventory Valuation
Prepare and update product costings, bill of materials (BOMs), and production routings in collaboration with operations and engineering.
Ensure accurate inventory valuation in line with internal controls and accounting policies.
Support the costing of new products and product changes, including cost impact assessments.
Track and analyze the cost impact of material, labour, or process changes.
Budgeting, Forecasting & Margin Analysis
Assist in preparing the annual manufacturing budget and rolling forecasts related to direct and indirect manufacturing costs.
Monitor cost performance against budget and provide variance commentary.
Conduct gross margin analysis at product and customer levels.
Support commercial teams with profitability analysis and pricing simulations.
Price List & Cost Support
Collaborate with commercial and sales teams to maintain accurate price lists aligned with cost structures and margin targets.
Assist in reviewing pricing strategies, promotions, and discount structures to safeguard profitability.
Conduct periodic price list reviews to reflect updated cost inputs, inflation, or market changes.
Continuous Improvement & Operational Support
Provide financial insights to support cost-saving initiatives, process improvement projects, and lean manufacturing programs.
Participate in operational meetings and contribute to performance reviews with cost impact analysis.
Evaluate capital projects and support make-or-buy and capacity utilization decisions with financial data.
Reporting, Systems & Compliance
Develop and maintain cost reports, dashboards, and KPIs using SQL queries and reporting tools (e.g., Power BI, SSRS, Crystal Reports).
Ensure data integrity between the ERP system, financial reports, and inventory records.
Support internal and external audit requirements related to cost accounting and inventory.
Enforce adherence to internal controls and company policies related to cost and inventory management.
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