Job Description

What Will You Be Doing?

We are seeking a detail-oriented and analytical professional to join our company as a Material Cost Analyst. As a Material Cost Analyst, you will play a critical role in evaluating and analyzing materials costs to drive cost optimization and ensure efficient supply chain operations. You will collaborate with cross-functional teams, including procurement, finance, and operations, to gather data, perform cost analysis, and provide insights and recommendations to support informed decision-making. Your expertise in material cost analysis and your ability to identify cost-saving opportunities will contribute to the overall financial success of the company.

Main Activities and Responsibilities:

• Conduct operational product cost controlling and variance analyses to identify and analyze cost deviations and recommend corrective actions.
• Review and prepare quarterly and annual price reports, analyzing price trends and providing insights into cost fluctuations.
• Support decision-making processes by preparing concepts, data, and documents for cost analysis and cost optimization initiatives.
• Prepare and analyze product cost overviews for the sales department, assisting with pricing strategies and profitability assessments.
• Participate in various projects and tasks related to supply chain management and research and development (R&D).
• Collaborate with cross-functional teams to develop and enhance calculation and analysis tools for improved cost estimation and reporting.
• Collect, analyze, and evaluate data related to materials costs, pricing, inventory levels, and supplier contracts.
• Monitor market trends, industry benchmarks, and economic indicators to assess their impact on materials costs and provide recommendations.
• Assist in the further development of calculation and analysis tools to support accurate and efficient cost analysis.
• Collaborate with procurement and sourcing teams to track supplier performance, negotiate pricing, and identify cost reduction opportunities.
• Ensure accurate recording and reporting of materials costs, cost of goods sold (COGS), and inventory valuation.
• Prepare reports, presentations, and recommendations on cost analysis findings and cost optimization initiatives.

Qualifications

What’s Required:

• Bachelor's degree in Finance, Supply Chain Management, or a related field. A master's degree or professional certifications (e.g., CMA, CPIM) is a plus but not required.
• 2 or more years of proven experience as a materials cost analyst or in a similar analytical role (example financial analyst with cost specialty), preferably within a manufacturing environment.
• Strong analytical and quantitative skills, with the ability to collect, organize, and analyze complex data sets.
• Proficiency in cost analysis techniques, financial modeling, and statistical analysis tools.
• Solid understanding of supply chain processes, including procurement, inventory management, and cost control.
• Familiarity with manufacturing processes, bill of materials (BOM), and product lifecycle management (PLM) systems.
• Advanced Excel skills and proficiency in data visualization tools (e.g., Tableau, Power BI) is highly desirable.
• Knowledge of cost accounting principles and financial analysis concepts.
• Proficiency in using enterprise resource planning (ERP) systems and materials management software. SAP experience required.

Nice To Have Skills:

• Ability to work independently, prioritize tasks, and manage multiple projects in a fast-paced environment.
• Strong attention to detail and accuracy, with the ability to identify trends, patterns, and outliers in data.
• Excellent communication and presentation skills, with the ability to effectively convey complex information to diverse stakeholders.
• Strong problem-solving and decision-making abilities, with a strategic mindset and a focus on continuous improvement.

Additional Information