Material Cost Analyst Officer
Salary undisclosed
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Job Purpose
To analyze and validate the cost structure of raw materials and components used in production, ensuring cost efficiency, supplier transparency, and alignment with quality standards to support the company's financial and operational goals.
Key Responsibilities
- Material Cost Validation
- Analyze vendor-provided material costs for accuracy and consistency.
- Validate cost breakdowns of raw materials, including labor, overhead, and transport components.
- Benchmark material costs against industry standards and market rates.
- Bill of Materials (BOM) Assessment
- Review BOM for accuracy, ensuring all materials are listed and costs are properly allocated.
- Collaborate with the product development team to confirm material requirements align with product specifications.
- Vendor Collaboration and Negotiation
- Work closely with vendors to clarify cost discrepancies and negotiate favorable pricing.
- Maintain strong relationships with suppliers to ensure transparency and reliability in cost reporting.
- Cost Reporting and Insights
- Generate detailed reports on material costs, identifying trends and areas for potential cost savings.
- Provide cost insights to procurement and product development teams to support decision-making.
- Cost Optimization
- Identify opportunities to reduce material costs without compromising quality or functionality.
- Propose alternative materials or suppliers where applicable.
- Market Analysis
- Monitor market trends for raw materials to anticipate cost changes and potential risks.
- Assess the impact of market fluctuations on material costs and recommend mitigating strategies.
Job Specifications
Educational Background
- Bachelor’s degree in Finance, Supply Chain Management, Industrial Engineering, or a related field.
Experience
- Minimum 2 years of experience in material costing, procurement, or supply chain management.
- Experience in the outdoor or lifestyle product industry is preferred.