Cost Control Manager
ASTRA FARMS CO
Total years of experience :21 years, 4 Months
Building accumulated costing systems to provide all business units with accurate and reliable costing information.
Planning, developing, controlling and forecasting for preparing the budget allocation and establishing a cost baseline.
Leading cost improvement actions based on target cost approach with all participating units to reach tenders and products target cost and target price.
Setting KPIs and providing a regular performance feedbacks through a well-defined performance review program.
Checking and auditing the cost records to ensure that the cost elements of products are within the industry average.
Taking overall responsibility to lead effectively the cost control function on inventory valuation, cost of goods sold and materials loss and damage rates.
Performing comprehensive cost variances analyses, investigating their root-causes and working on reducing them in addition to activating the role of accountability and responsibility.
Providing proactive solutions to avoid the causes of fluctuations in costs and suggesting cost-cutting measures.
Performing extensive analysis of cost and financial statements that includes contribution margin analysis, break-even analysis, operational leverage, cost-volume-profit analysis, productivity and efficiency rates.
Analyzing and interpreting the costing reports, detecting issues and effectively communicating the cost results and its recovery plans to the team work.
Performing special projects for supporting the management in decision making such as make vs. buy, accept or reject orders and business expansion or contraction decisions to identify its economic benefits.
Applying best practices that in compliance with company policies to ensure the cost is under control and minimize deviations versus budget.
Adapting strategic plans 3-5 years for implementing ABC model for determining the business profitability and potential cost reduction strategies.
Generating and providing accurate and timely the results in the form of reports, graphs, dashboards and presentations.
Achievements:
Managed the operating budgets with reduction of costs totaling 14% in last 2 years.
Led the transition from the existing cost environment to apply standard cost systems in the following activities
Manufacturing field (Food Processing, Dairy, Bakery, Carton and Polystyrene factories).
Agriculture field (Flowers, Vegetables and Fruit farms).
Livestock field (Cattles, Integrated Poultry Project and Quail farms that is the biggest project in the Middle East).
Cost Accounts Department:
Managed and directed the day-to-day of cost accounting functions to ensure that the cost in control.
Monitored WIP valuation, materials leftover, scrap levels, reworks and outside processing costs.
Prepared and analyzed the cost variances analyses and investigated causes to propose corrective actions.
Collaborated with production engineers on structure and validity of BOM and Routing sequences to check the product cost elements and ensure that the cost remains within the planned acceptable limits.
Performed other duties and responsibilities as assigned by the director of finance.
Worked closely with procurement and production managers to identify the major cost reduction opportunities.
Performed account reconciliations and ensured the general ledger accounts were reconciled, accurate and reliable.
Provided a company-wide dashboard for giving cost data analysis, in-depth reports and results to top management.
Developed metrics and tracking system for major cost drivers to improve product cost and stock valuation.
Store Accounts Department:
Monitored all inventory transaction types.
Checked estimated landed cost to generate purchase orders rates.
Followed up closing POs receipts against Letters of credit and collections.
Led the annual physical inventory counts and valuation.
Controlled nonmoving items.
Followed up claims against insurance companies.
Performed month end Close and matched Oracle Inventory Module with GL Module.
Was a major contributor to implement MRP system to improve productivity and increase profitability.
Fixed Assets Department:
Monitored fixed assets transaction types.
Followed up constructions in process till be capitalized.
Analyzed capex for the business and ensure that capex stayed within budgeted targets.
Managed the annual physical counts.
Followed up property insurance program.
Was responsible for monthly running depreciation and gain & loss programs for closing the periods.
Was responsible of matching Oracle Fixed Assets Module with GL Module.
Budgetary Control:
Was working closely with department heads to allocate operational budgets, and established a cost baseline for measuring and assessing the cost variances.
Achievements:
Accredited as a best employee in 2009 based on developing deep EXCEL programs for saving labor time and cost.
Was a partner with IT staff to build standard costing systems through Oracle Cost Module for the following the factories (Towers factory, Poles factory, Steel structures factory, Lightening and control panels factory).