What are the responsibilities and job description for the Cost & Inventory Analyst position at Vaco by Highspring?
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. This function acts as the analytical engine of the company to provide insights and support 'optimal' business decision making. The position reports to the CFO.
Essential Duties and Responsibilities Includes the following:
Other duties may be assigned.
- 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 Hynes 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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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 and systems implementation experience desirable
Leadership and Interpersonal Skills
- Excellent verbal and written communications skills
- Ability to interact with senior level executives and staff
- Consistently demonstrate professional, positive, and approachable attitude/demeanor and discretion
- Ability to motivate others
- Well organized, able to juggle multiple priorities and plan projects in order to deliver on-time results and play various roles in a dynamic environment
- Ability and motivation to rapidly learn the business of Hynes
- Excellent interpersonal and communication skills, strong client-support orientation, with the ability to work effectively with all levels of the organization and with a wide range of clients, individually and in groups
- Strong time management and organizational skills with ability to prioritize work under pressure.
- Strong client-support orientation.
- Ability to quickly adapt to changing business demands.
- Ability to handle sensitive and confidential information appropriately.
- Strong analytical and critical thinking skills.
- Ability to handle multiple projects as part of a team effort and independently
- Demonstrated ability to roll-up sleeves and work with team members in a hands-on management capacity
Education and/or Experience:
- BA/BS in Business with an emphasis in Accounting, Finance or equivalent
- Relevant experience in steel or manufacturing metals environment a 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
Vaco by Highspring values a diverse workplace and strongly encourages women, people of color, LGBTQ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
Vaco by Highspring is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.
Vaco by Highspring and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco by Highspring and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .
Vaco by Highspring also wants all applicants to know their rights that workplace discrimination is illegal.
By submitting to this position, you agree that you will be giving Vaco by Highspring the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco by Highspring about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco by Highspring agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.
Vaco by Highspring and its parents, affiliates, and subsidiaries ("we," "our," or "Vaco by Highspring") respects your privacy and are committed to providing transparent notice of our policies.
- California residents may access Vaco by Highspring HR Notice at Collection for California Applicants and Employees here.
- Virginia residents may access our state specific policies here.
- Residents of all other states may access our policies here.
- Canadian residents may access our policies in English here and in French here.
- Residents of countries governed by GDPR may access our policies here.
Determining compensation for this role (and others) at Vaco by Highspring depends upon a wide array of factors including but not limited to:
- the individual's skill sets, experience and training;
- licensure and certification requirements;
- office location and other geographic considerations;
- other business and organizational needs.
With that said, as required by local law, Vaco by Highspring believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.
