Costing Manager at Adcock Ingram

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

Requirements

Required Learning

• Chartered Accountant (CA(SA)) or CIMA qualified (essential)
• Bachelor’s degree in accounting, Cost & Management Accounting, or Finance (minimum requirement)
• Postgraduate qualification in Finance, Business Management, or related field (advantageous)
• Continuous professional development in cost accounting, ERP systems, and manufacturing finance (recommended)

Required Experience

• Minimum 5 years’ experience in a cost accounting role within a manufacturing or supply chain environment
• At least 2 years in a managerial or supervisory position, leading costing or finance teams
• Proven experience with standard costing, variance analysis, and budgeting
• Extensive knowledge and hands-on experience in working with integrated ERP systems
• Solid understanding of manufacturing processes, inventory costing, and production operations