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Posted: 3 years ago
2-4 years
India
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Job Description
Date: 05-Jul-2022
Location: IN
Company: Coats
About Coats
Coats is the world’s leading industrial thread company. At home in some 50 countries, Coats has a workforce of 17,000 people across six continents. Coats’ pioneering history and innovative culture ensure the company leads the way around the world. It provides complementary and value-added products, services and software solutions to the apparel and footwear industries. It applies innovative techniques to develop high technology Performance Materials threads, yarns and fabrics in areas such as Transportation, Telecommunications and Energy, and Personal Protection. Headquartered in the UK, Coats is a FTSE 250 company, a constituent of the FTSE4Good Index Series, a participant in the UN Global Compact and a Network member of the Ellen MacArthur Foundation.
Role Purpose
To support the Patrick Yarn Mill business assisting with setup of the standard costing valuation. Once implemented, to support the business in maintaining accurate standards, review and analyses variances and take corrective actions. Proactively support business decisions by providing timely cost information for new products.
Principal Accountabilities & Key Activities
SAP implementation
- Establish SAP standard cost system for Coats – Patrick Yarn Mill
Standard cost
- Adopt Coats global procedures to establish product standard costs
- Establish annual product standard costs
- Coordinate with other functions (manufacturing, master data teams) in establishing cost activities
- Provide timely costing for new product to support commercial and business decision making activities
- Ensuring consistency in costing templates used in the business unit
- Handling ad-hoc request from commercial for new strategic/volume deals with thin margins.
- Work closely with new product lunch to ensure appropriate pricing.
- Leading Inter Group price resetting for finished and intermediary products (IGTP process).
- Liaised with Internal/External Auditors for half year/year end audits regarding inventory, cost accounting, cost of goods sold
Variance analysis
- Analyze key drivers for standard cost variations to actual cost and take corrective measures to correct them.
- Calculate price differences (variances) and provide capitalization adjustments for monthly reporting (FIFO inventory valuation adjustment)
- Explain variances to Q2F / Q3F / Plan for the MTD results and provide ideas for improvements.
- Weekly financials update and compare with M+1/Plan. Focus on underpinnings to deliver Plan.
- Responsible to validate Manufacturing / Procurement projects.
Inventory management
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- Ensure the book balance reflects actual physical quantity
- Lead quarterly, half yearly and annual stock count and ensure all discrepancies are appropriately accounted for and explained
- Assist with adequate control measures to ensure safe custody of the inventory
Fixed assets
- Keep a comprehensive record on fixed assets (acquisitions, disposals, write offs), reflecting physical items
- Capitalize and depreciate fixed assets as per group policies and local statutory standards
Put in place adequate control measures to ensure safe custody of the asset
Education, Qualifications and Experience
- Bachelor’s Degree in Accounting, Finance or other related field.
- 5-6 years minimum experience in Mfg. Environment
- 3 years’ experience with SAP, strong PC skills, including experience with Microsoft Office.
- Minimum 3-5 years professional cost accounting qualifications or equivalent experience working with in manufacturing environment with SAP experience.
- Attention to detail and effective communication both written and verbal.
Skills
ProcurementFinanceIf an employer asks you to pay any kind of fee, please notify us immediately. Jobaaj does not charge any fee from the applicants and we do not allow other companies also to do so.
Important dates & deadlines?
Application Deadline
27 Aug 22, 12:00 AM IST
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