Cost Analyst

Cost Analyst will work closely with procurement, finance, and production teams to ensure cost efficiency and support strategic purchasing decisions. You will be responsible for preparing statements and reports, overseeing audit files, attending meetings to provide financial feedback, and training employees in cost management methods. This position will track, analyze, and report on cost variances, pricing trends, and vendor performance to optimize total costs.

ESSENTIAL FUNCTIONS

• Recommend and direct changes in operating procedures to improve payment and procurement efficiency.
• Perform detailed cost analysis of products and services, providing insights on cost-saving opportunities.
• Develop and maintain cost reports for purchased materials and services, ensuring accuracy and transparency.
• When necessary, offer analytical support for departmental projects.
• Coordinate with management to ensure cost forecasting reports are consistently checked and applied.
• Monitor and document actual and estimate reports.
• Support the Procurement Department in budgeting and forecasting by providing relevant cost data.
• Monitor and report on variances between actual costs and budgeted costs, highlighting areas for improvement.
• Stay up to date on project budgets and project spending.
• Examine data to help with reducing costs in all operations.
• Analyze the market and identify opportunities for growth and potential risks.
• Contribute to developing yearly operation plans, budgets, and estimating new product costs, including economic analysis.
• Give recommendations for cost-saving strategies.

OTHER DUTIES

• Support daily issues that arise in cost-related meetings.
• Support a monthly meeting with team members.
• Support ALAP (Japan) communication as needed with cost analysis.
• Perform other related duties as required for growth and development.

QUALIFICATIONS

• EDUCATION/EXPERIENCE AND/OR TRAINING

• Bachelor’s degree in finance, Accounting, Business, or a relevant field
• Between 3 – 5 years of proven experience as an analyst in supply chain or finance.
• Excellent analytical, mathematical, and problem-solving abilities.
• Superb communication and presentation skills.
• Aptitude to succeed in a stressful and deadline-oriented environment with cross-functional teams.
• Strong understanding of Information Systems and MS Excel.