Specialist - Product Costing
Al Ghurair
Date: 2 weeks ago
City: Dubai
Contract type: Full time
Job Description
Support Financial Strategy Execution
Support Financial Strategy Execution
- Contribute to the implementation of financial strategies aligned with business objectives, ensuring operational cost efficiency and operational efficiency targets.
- Maintain and validate standard costs, BOM's, routings, and overhead absorption rates
- Perform monthly inventory valuation, reserves, and slow moving/obsolete stock analysis
- Reconcile inventory sub ledgers to GL and investigate valuation differences
- Ensure costing accuracy across plants, warehouses, and SKU's
- Driving and maintaining Activity-Based Costing (ABC) through close coordination with plant operations and cross-functional teams for accurate cost allocation and timely decision-making.
- Track Product cost (RM, Bulk SKU's, additives & discrete inventory items, etc.)
- Analyze price, volume, mix, efficiency, and yield variances with root cause commentary
- Partner with operations to identify cost reduction and productivity opportunities
- Monitor savings initiatives and validate financial impact
- Prepare actionable variance dashboards for management review
- Develop and track key financial KPIs (conversion cost, yield, wastage, inventory holding, etc.) and support leadership with actionable insights for performance management.
- Support annual budget and rolling forecast cycles for operations finance (Variable & Fixed cost)
- Update & Analise actuals vs. budget/forecast and highlight risks and opportunities
- Develop scenario and sensitivity analyses to support decision making
- Ensure alignment between operational plans and financial targets
- Act as finance business partner to supply chain, manufacturing, and commercial teams
- Support pricing, margin analysis, and customer/product profitability reviews
- Support system setup for new units and establish end-to-end operational and process flows & identify and monitor inventory risks; implement appropriate controls during stabilization.
- Translate operational performance into financial outcomes for stakeholders
- Act as a finance business partner to plant operations, supply chain, and procurement teams to drive data-driven decision-making and performance improvement.
- Identify and recommend improvements in financial processes, systems, and reporting frameworks to enhance efficiency, accuracy, and scalability.
- Ensure adherence to internal controls, accounting policies, and SOP's
- Support internal and external audits, including documentation and issue resolution
- Maintain and improve costing, planning, and reporting systems (e.g., ERP, BI tools)
- Identify control gaps, process inefficiencies, and automation opportunities
- Conduct periodic physical counts and cycle counts with variance analysis and adjustment.
- Ensure compliance with IFRS/local regulations related to inventory and costing
- Support the development and strengthening of internal controls across operational finance processes to mitigate financial and operational risks.
- Leverage financial and operational data to provide advanced insights (variance analysis, trend analysis, scenario modeling) supporting strategic decisions.
- Execute timely month end close activities reconciliation, related to COGS, inventory, and provisions, etc.
- Prepare management reports, KPI's, and dashboards with clear insights
- Ensure accuracy, completeness, and consistency of reported
- Provide variance explanations and executive level commentary
- Prepare & Support ADHOC, monthly and annual financial reporting requirements
- Ensure alignment between finance, operations, supply chain, and commercial teams to achieve overall business targets and operational excellence.
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