Cost Optimization Specialist

1 week ago


Riyadh, Ar Riyāḑ, Saudi Arabia National Company for Mechanical Systems - NCMS Full time
Job Summary

We are seeking a highly skilled Cost Manager to join our team at National Company for Mechanical Systems - NCMS. The successful candidate will be responsible for developing and implementing cost-saving strategies, analyzing production costs, and providing cost estimates for new product development and process improvements.

Key Responsibilities
  • Cost Analysis and Optimization
    • Analyze actual production costs and compare standard costs to actual performance to identify variances and recommend corrective actions.
    • Develop and monitor key performance indicators (KPIs) related to cost efficiency, including waste reduction, production cycle times, and labor utilization.
  • Cost Estimation and Budgeting
    • Provide cost estimates for new product development, process improvements, and pricing strategies.
    • Collaborate with department heads to prepare budgets and forecasts related to cost of goods sold (COGS), production expenses, and inventory management.
  • Inventory Management and Control
    • Monitor and manage inventory costs, ensuring accurate inventory valuation.
    • Conduct regular inventory analysis and work with operations teams to control and optimize inventory levels.
  • Financial Reporting and Analysis
    • Prepare detailed financial reports and analysis on cost performance, variance analysis, and cost reduction opportunities.
    • Provide regular updates to senior management on cost control measures and financial impacts.
Requirements
  • Bachelor's degree in Accounting, Finance, or a related field; advanced qualifications such as CPA, CMA, or similar preferred.
  • Minimum of 5-7 years of experience in cost accounting or related financial management roles, preferably within a manufacturing or production environment.


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