Costing Manager

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Job Purpose To lead and manage the costing function across all manufacturing and supply chain units by establishing, maintaining, and enhancing accurate standard cost systems and financial controls. The role is critical in supporting operational efficiency, profitability, and strategic decision-making through reliable costing data, insightful variance analysis, proactive cost management, and accurate forecasting. The Costing Manager will also play a key role in developing cost-related policies, managing compliance, supporting CAPEX evaluations, coordinating stock counts, and partnering with cross-functional teams to drive financial performance. Key Job Output Costing and Standard Cost Maintenance Develop, implement, and maintain accurate standard costing systems for materials, labour, and overheads Ensure complete and accurate bills of material (BOMs) exist for every manufactured product Maintain and review standard costs for all material components , with timely updates in the ERP system Ensure costing records are aligned with operational and financial data Variance Analysis and Cost Reporting Monitor, analyse, and report on production cost variances and usage deviations Identify root causes for variances and work with operations to recommend corrective actions Review and present actual vs. standard cost performance reports monthly to stakeholders New Product Costing & Budgeting Compile and review costing packs for new products , including projected costs and margin analysis Collaborate with product development and operations teams for accurate cost estimates Prepare annual costing budgets and submit revised standard costs to the Costing Committee for approval Production Cost Control & Performance Review Ensure full disclosure of production costs and identify cost-saving opportunities Review monthly production expenditure and submit accurate management reports Conduct post-season reviews and provide insights to optimise cost structures CAPEX Management · Participate in the evaluation and financial analysis of capital expenditure (CAPEX) projects · Ensure CAPEX proposals include accurate cost-benefit analyses, ROI, and payback calculations · Monitor actual CAPEX spending against approved budgets and report on variances Stock Counts (Year-End and Half-Year-End) · Oversee and coordinate physical stock counts at year-end and half-yearend · Ensure compliance with financial control procedures during stocktaking processes · Investigate and resolve stock variances and ensure accurate valuation in financial statements Internal Controls & Compliance Establish and maintain internal controls for costing activities and reporting accuracy Ensure all costing-related reconciliations are reviewed and approved Conduct periodic audits and reviews of costing data integrity and system compliance Stakeholder Collaboration & Support Provide strategic costing advice and support to Manufacturing, Supply Chain, and Procurement teams Participate in cross-functional meetings to support financial planning and decision-making Assist in special costing projects , feasibility studies, and ad hoc analysis requests Forecasting · Develop and maintain rolling cost forecasts in collaboration with Finance and Operations teams · Provide accurate projections of production and overhead costs to support business planning · Analyse trends in cost drivers to anticipate financial risks or opportunities Team Leadership & Development Lead and manage the costing team , ensuring clarity of roles, accountability, and performance management Train, mentor, and develop staff to build internal capability and ensure service delivery standards Ensure the team is well-informed of policies, costing principles, and company standards