Foxconn Hon Hai Technology - Cost Management Analyst

Role Overview

The Cost Analyst will be responsible for monitoring, analyzing, and optimizing production costs to support operational efficiency and profitability. The role involves maintaining accurate cost records, performing variance analysis, managing inventory valuation, and supporting budgeting and forecasting processes. The incumbent will work closely with finance, production, and supply chain teams to ensure cost transparency and effective cost control mechanisms across operations.

- Maintain and update detailed production cost data including material, labor, and overhead costs.

- Monitor daily, weekly, and monthly production cost trends to identify inefficiencies or unusual cost patterns.

- Conduct detailed cost variance analysis comparing actual costs against budgets, standards, and forecasts.

- Provide actionable insights and recommendations to management for cost optimization and operational improvements.

- Track inventory movement and ensure accurate recording of raw materials, WIP, and finished goods.

- Manage inventory valuation in accordance with accounting policies and cost accounting standards.

- Work closely with supply chain and warehouse teams to ensure accurate stock reconciliation and minimize discrepancies.

- Monitor slow-moving and obsolete inventory and recommend corrective actions.

- Perform cost-related month-end closing tasks including inventory adjustments, cost allocation, and reconciliations.

- Ensure accurate posting of cost entries in the financial system.

- Prepare cost reports and summaries for financial closing and management review.

- Assist in preparing annual budgets and periodic forecasts for production and operational costs.

- Track actual performance against budget and highlight key variances.

- Support management with cost projections and scenario analysis to aid decision-making.

- Prepare detailed cost reports, dashboards, and MIS for senior management.

- Provide financial insights to production, procurement, and operations teams to support strategic planning.

- Participate in cost reduction initiatives and continuous improvement programs.

- Cost Management & Cost Control

- Budgeting & Forecasting

- Variance Analysis

- Cost Accounting & Financial Analysis

- Data Analysis & Reporting

- ERP / SAP / Financial Systems proficiency

- Strong analytical and problem-solving skills

- Attention to detail and accuracy