Job Summary:

The Cost Analyst (Cost Engineer) is responsible for developing and maintaining accurate product costings, including Bills of Materials (BOM) and standard cost models, to support budgeting, forecasting, and management decision-making. The role analyzes material, labor, and overhead costs, evaluates production efficiency, and identifies cost variances and savings opportunities. It also provides cost reports and financial insights to support pricing decisions, operational improvements, and overall cost control across the organization.

Duties & Responsibilities:

1. Analyze financial, operational, and production data to evaluate product costs, profitability, and overall business performance.
2. Prepare, maintain, and update Bills of Materials (BOMs) for new and existing products in coordination with the Research and Development (R&D), Production, Procurement, and Quality Assurance teams.
3. Develop, maintain, and regularly update standard cost models for new and existing products based on approved BOMs, labor standards, and manufacturing overhead allocations.
4. Monitor and control manufacturing, material, labor, and overhead costs to ensure adherence to approved budgets and cost targets.
5. Assist in the preparation of annual budgets, forecasts, and cost projections by providing accurate cost estimates and financial analyses.
6. Conduct productivity and efficiency analyses by evaluating labor utilization, material consumption, production yields, and manufacturing performance indicators.
7. Analyze cost variances and identify the root causes of deviations from standard costs, budgets, and operational targets.
8. Evaluate the financial impact of changes in raw material prices, product specifications, formulations, Bills of Materials (BOMs), manufacturing processes, and operational improvements.
9. Prepare periodic cost reports, dashboards, and management summaries to support strategic planning, operational decision-making, and continuous improvement initiatives.
10. Collaborate with cross-functional teams to identify cost-saving opportunities, process improvements, and operational efficiencies without compromising product quality and customer requirements.
11. Support management in conducting feasibility studies, cost-benefit analyses, product pricing reviews, and investment evaluations for new products, equipment, and business initiatives.
12. Ensure the accuracy, completeness, and integrity of cost-related data, BOMs, records, and reports through regular review and validation.
13. Perform other duties and responsibilities that may be assigned by the immediate superior from time to time.

Qualifications:

• Bachelor's degree in Industrial Engineering or any related field
• Preferably with background in manufacturing, production systems, or cost accounting
• With at least 1-3 years experience in cost accounting, cost analyst, or cost engineering in a manufacturing or production environment
• Exposure to FMCG, manufacturing, or similar production-based industries is an advantage
• Strong knowledge of standard costing, and variance analysis
• Proficient in BOM creation, maintenance, and cost structuring
• Strong proficiency in material measurement, specification analysis, and quantity take-off for costing purposes (e.g., converting technical/production specs into costed material requirements)
• Proficiency in MS Office tools, ERP systems, or other manufacturing systems is an advantage
• Strong analytical and problem-solving skills with high attention to detail
• Proactive, detail-oriented, and capable of working under tight deadlines
• Amenable to work onsite in Sauyo, Novaliches, Quezon City