What are the responsibilities and job description for the Cost and Inventory Analyst position at TBG | The Bachrach Group?
Summary: The Cost and Inventory Analyst position is accountable for the ongoing analysis of process constraints, target costing projects, margin analysis, and tracing costs back to underlying activities. The Cost and Inventory Analyst must also construct and monitor those cost-effective data accumulation systems needed to provide an appropriate level of costing information to management. They will be responsible for Cycle counts and the annual physical inventory process.
Essential Duties and Responsibilities Includes the following:
- Planning, Studying, and collecting data to determine costs of business activity such as raw material purchases, assembly costs and intercompany transfers.
- Analyzing changes in product design, raw materials, manufacturing methods or services provided, to determine effects on cost.
- Lead the monthly financial inventory closing - journal entries, variance analyses, account reconciliations, etc.
- Manage inventory levels, perform inventory audit checks, cycle counts and related inventory adjustments reporting.
- Review, investigate and explain purchasing variances on a routine basis.
- Prepare audit reports and analysis for external auditors on inventories.
- Monitor excess and obsolete inventories and non-conforming materials.
- Process tracking of material flow in and out of the facilities.
- Providing management with reports specifying and comparing factors affecting prices and profitability of products or services
- Maintaining Cost and Inventory Accounting System and its integrity
- Daily, weekly batch processing and monthly period end close.
- Conducts physical inventory counts and responsible for final valuation. Monitors cycle count program and investigates variances.
- Review average costs and actual costs for inaccuracies.
- Analyze and report profit margins and volume mix analysis.
- Responsible for Balance Sheet inventory accounts.
- Identify and recommend cost-effective solutions.
- Reviews cost estimates of existing, new, and proposed products as developed by our commercial team to validate appropriate pricing and profitability.
- Performs in-depth analysis on monthly variances and prepare bridges to budget, forecast and/or prior year.
- Prepare balance sheet budgets and forecasts for inventory.
- Support Accounting and Operations as requested.
- Perform all other duties as assigned.
Qualification Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of knowledge, skill, and/or ability required.
Business Skills
Must have advanced experience with Microsoft Excel and PowerPoint.
Strong verbal and written communication skills.
Highest standards of accuracy and precision; highly organized.
Strong interpersonal, supervisory and customer service skills required.
Ability to multi-task, work under pressure and meet deadlines required.
Experience with Sage 300 and MiSys shop floor desirable
Work experience in a lean business environment is highly desirable.
Power BI experience desirable.
ERP experience desirable
Education and/or Experience:
BA/BS in Business with an emphasis in Accounting, Finance or equivalent
Relevant experience in manufacturing plus
2 to 3 years of Cost Accounting or Cost Analyst experience in a manufacturing environment
Must have a strong Cost systems background and have excellent analytical skills; sound understanding of accounting principles.
Experience working with engineering, sales and manufacturing personnel on development and analysis of cost standards and quoting.
