Position Summary
The Plant Finance professional will be responsible for cost control, inventory management, product costing, financial analysis, and overall finance operations at the plant level. This role also involves handling statutory compliance, payroll, logistics, internal audits, and ERP/SAP system management. The position requires close collaboration with production, procurement, engineering, supply chain, and corporate finance teams to ensure accurate financial reporting, cost optimization, and operational efficiency.
Job Responsibilities:
Costing & Financial Analysis
- Develop and analyze standard costs for raw materials, components, and finished products.
- Analyze material variances (price, usage) and provide explanations for deviations from budget/standards.
- Participate in the establishment and review of product costing for new and existing products.
- Provide detailed financial reports on plant performance related to materials, efficiency, and profitability.
Finance Operations & Reporting
- Ensure timely and accurate booking of daily bills and direct account bills.
- Perform monthly bill closing, entry finalization, and payroll verification.
- Handle weekly payment requests, MSME payments, and coordinate with the Bangalore finance team.
- Share cost details with the Bangalore finance team and service cost data with the sales team.
- Manage GST compliance, including monthly/yearly filing, GSTR-2B reconciliation, and handling GST queries/office category classifications.
- Prepare and present plant performance metrics to management for decision-making.
Inventory, Procurement & Cost Control
- Monitor and maintain MOQ, ROL, and ROQ across all store levels (Foundry, Raw Material, Tooling, Gearbox stores).
- Support cost control initiatives and drive operational efficiency improvements.
- Generate reports on material usage, cost trends, and BOM variances.
- Conduct monthly internal inventory audits and oversee the audit team.
Dispatch, Logistics & Store Operations
- Manage dispatch team operations, including daily vehicle availability and material dispatch.
- Coordinate packing, logistics, and distribution activities.
- Oversee Foundry Store, Raw Material Store, Tooling Store, and Gearbox Store operations.
Compliance, Systems & ERP
- Attend IMS audits and ensure compliance with IMS & QMS requirements.
- Review and maintain IMS/QMS documentation for all stores.
- Supervise SAP data entry team and oversee PP (Production Planning), MM (Materials Management), and FI (Financial Accounting) modules.
- Collaborate with ERP development teams and plant functions to support new ERP system implementation and integration.
Qualifications & Experience
- B.Com / M.Com / MBA or equivalent with 5 to 8 years of relevant Plant finance experience in the manufacturing industry.
- Strong exposure to costing, inventory management, payroll, statutory compliance, and variance analysis in a manufacturing/plant environment.
Knowledge & Technical Skills
- Strong knowledge of standard costing, variance analysis, and BOM review.
- Proficiency in MS Excel and ERP systems (SAP / Oracle preferred).
- Practical knowledge of financial reporting, internal controls, and compliance in a manufacturing setup.
