Furniture Costing Expert

4 hours ago

Lahore, Punjab, Pakistan Al-Haadi Mobiliya Full time

About the Role:

The Furniture Costing Expert at Al-Haadi Mobiliya is responsible for calculating and managing costs associated with producing and selling furniture. This includes working with procurement, production, and sales teams to determine cost structures, ensure profitability, and provide valuable insights into pricing strategies.

Key Responsibilities:

  • Cost Estimation & Calculation:
  • Develop accurate cost estimates for furniture production, including raw materials, labor, overheads, and transportation.
  • Work closely with design and production teams to gather data and ensure all cost components are accounted for.
  • Prepare detailed cost breakdowns for each furniture item, considering various factors such as material type, design complexity, production methods, and labor costs.
  • Cost Analysis & Reporting:
  • Monitor and analyze the cost structure of furniture products, identifying any discrepancies between projected and actual costs.
  • Prepare regular reports on cost variances, profit margins, and financial performance to provide actionable insights to management.
  • Conduct margin analysis to identify opportunities for cost reduction and improvement in overall profitability.
  • Present costing reports to management and provide recommendations for pricing adjustments or cost-saving measures.
  • Collaboration with Procurement & Production Teams:
  • Work with the procurement team to ensure the most cost-effective sourcing of raw materials, negotiating pricing with suppliers where necessary.
  • Collaborate with the production team to understand manufacturing processes, assess production efficiency, and identify potential areas for cost optimization.
  • Participate in the development and review of production budgets, ensuring costs are kept within agreed parameters.
  • Cost Optimization:
  • Continuously evaluate and recommend ways to optimize the cost of furniture production, from material selection to production processes.
  • Identify cost-saving opportunities and propose solutions to improve margins while maintaining product quality.
  • Assess the impact of design changes or product modifications on the overall cost and profitability.
  • Pricing Strategy Support:
  • Assist the sales and marketing teams in developing competitive pricing strategies based on accurate cost calculations.
  • Provide data-driven insights into pricing decisions, helping to align costs with market trends and customer expectations.
  • Ensure that the company's pricing structure reflects both production costs and the desired profit margins.
  • Inventory Management & Stock Valuation:
  • Support inventory management by providing accurate cost data for stock valuation.
  • Ensure proper allocation of overheads and indirect costs to inventory and cost of goods sold (COGS).
  • Collaborate with the finance team to ensure proper inventory valuation for financial reporting and compliance.
  • Maintain Costing Database & Documentation:
  • Maintain a detailed and up-to-date database of costing records for all furniture products.
  • Ensure proper documentation of costing methods, assumptions, and calculations for future reference and audits.
  • Ensure that all cost records are accurate, complete, and stored in accordance with company policy.
  • Continuous Improvement:
  • Stay informed on industry trends, cost structures, and best practices in furniture manufacturing and costing.
  • Continuously improve costing methodologies, systems, and processes to enhance accuracy and efficiency.
  • Attend relevant training and development programs to further expertise in furniture costing and financial management.

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