Cost Controller

Job Description – Cost Controller

Job Overview: The Cost Controller in the food production and large restaurant industry plays a crucial role in managing and analyzing the financial aspects of the organization's operations. This role primarily focuses on monitoring and controlling costs, ensuring accurate cost allocation, and providing financial insights to support decision-making processes. The Cost Controller collaborates closely with various departments to optimize operational efficiencies, manage expenses, and maintain profitability.

Responsibilities:

1.Cost Analysis and Reporting:

· Conduct regular cost analysis and cost variance assessments for raw materials, ingredients, production processes, and operating expenses.

· Prepare comprehensive reports on cost trends, identifying areas for improvement and cost-saving opportunities.

· Analyze inventory levels, valuations, and reconciliations to ensure accurate costing and minimize wastage.

2.Budgeting and Forecasting:

· Assist in developing annual budgets and forecasts for food production and restaurant operations.

· Provide financial insights and recommendations based on cost analysis to support budgetary decisions.

· Collaborate with department heads to review and analyze budgetary performance against actual results, identifying deviations and proposing corrective actions.

3.Inventory Management:

· Oversee the inventory control process, including conducting regular physical counts and reconciling discrepancies.

· Implement and maintain inventory costing methodologies, such as FIFO, LIFO, or weighted average, to accurately capture the cost of goods sold.

4.Cost Control and Optimization:

· Work closely with the operations team to identify cost drivers and implement cost-saving initiatives without compromising quality.

· Monitor production processes and recipes to ensure optimal utilization of resources and minimize waste.

5.Cost Allocation and Product Pricing:

· Determine accurate product costs, considering direct and indirect costs, labor, and overhead expenses.

· Collaborate with the marketing and sales teams to establish appropriate pricing strategies based on cost analysis and market dynamics.

6.Stock & Price Analyzing:

· Prepare and submit monthly stock report to Management

· Regular purchase price analyzing and maintain approved supplier details.

7.Systems and Process Improvement:

· Identify opportunities to streamline cost accounting processes and implement system improvements for greater efficiency and accuracy.

Job Type: Full-time