Costing and Procurement Analyst

4 weeks ago

Bryan, United States The Ohio Art Company Full time
Job DescriptionJob DescriptionDescription:

The Ohio Art Company, a world leader in the metal decorating and metal stamping business and a Northwest Ohio company in business for over 115 years, has a need for a Costing and Procurement Analyst. This position is based in Bryan, OH with travel to locations in Nevada and New Jersey.


JOB SUMMARY:

The Costing and Procurement Analyst is responsible for overseeing and managing all aspects of cost accounting, cost control, and financial analysis within the organization. This role involves ensuring accurate cost allocation, developing cost management strategies, and providing detailed financial reports to support strategic decision-making. The ideal candidate will also be responsible for procurement strategy, vendor management, contract negotiation, the ability to develop and implement successful procurement policies and procedures.

  • Cost Analysis and Control:
    • Develop, implement, and maintain cost accounting systems and procedures.
    • Analyze production and operational costs to identify trends, variances, and areas for cost reduction.
    • Monitor and control inventory costs, ensuring accuracy and adherence to budget.
  • Budgeting and Forecasting:
    • Prepare detailed cost estimates and budgets for new and existing projects or operations.
    • Conduct regular budget reviews and variance analysis to ensure alignment with financial goals.
    • Collaborate with other departments to forecast future costs and financial needs.
  • Financial Reporting:
    • Generate accurate and timely cost reports, including cost of goods sold, gross margins, and profitability analyses.
    • Prepare monthly, quarterly, and annual financial statements and reports for management review.
    • Provide insights and recommendations based on cost analysis to improve financial performance.
  • Cost Management Strategies:
    • Develop and implement cost control measures and strategies to optimize financial performance.
    • Identify cost-saving opportunities and lead initiatives to enhance operational efficiency.
    • Evaluate and recommend changes to cost structures and pricing models.
  • Compliance and Documentation:
    • Ensure compliance with accounting standards, internal controls, and regulatory requirements.
    • Maintain accurate and up-to-date documentation of cost accounting practices and procedures.
    • Support external audits by providing necessary documentation and explanations.
  • Team Collaboration:
    • Collaborate with cross-functional teams, including finance, production, and procurement, to align cost management efforts.
  • Procurement Costing
    • Develop and implement strategic procurement initiatives that align with the company's goals and objectives.
    • Oversee the procurement process from sourcing to delivery, ensuring efficiency, cost-effectiveness, and compliance.
    • Negotiate and manage contracts with suppliers and vendors to secure advantageous terms.
    • Monitor procurement KPIs and implement improvement plans as needed.
    • Manage inventory to ensure adequate safety stock levels.
    • Collaborate with other departments (such as finance and operations) to ensure procurement processes support overall business objectives.
    • Stay current with industry trends, market conditions, and technology advancements to improve procurement strategies.
    • Manage relationships with key suppliers and vendors to ensure quality, delivery, and cost targets are met.
    • Develop and manage the procurement budget, tracking expenditures and ensuring adherence to financial policies.
    • IT support tailored to optimization of procurement systems and processes.
  • Facilitate communication between departments to address cost-related issues and concerns.
  • Updates job knowledge by participating in educational opportunities as needed
  • Complies with all Corporate Policies and Procedures
  • Participates in special projects, as appropriate
  • Performs other duties as assigned
Requirements:

JOB SKILL REQUIREMENTS:

· Bachelor’s Degree in Accounting, Finance, Business Administration, or related field (Master’s degree or professional certification, such as CPA, CMA, or ACCA, is preferred).

· 1-3 years of experience in cost accounting, financial analysis, or a related role.

· Strong understanding of cost accounting principles, financial modeling, and budgeting

· Strong attention to detail and accuracy in financial data entry and recordkeeping

· Excellent analytical, problem-solving, and communication skills

· Excellent organizational and time management skills, with the ability to prioritize tasks and meet deadlines

· Proficient with Microsoft Office Suite (Word, Excel, Powerpoint, Outlook) and accounting software (e.g. QuickBooks, SAP, Oracle)

· Ability to maintain confidentiality and handle sensitive financial information with discretion




Generous benefit package includes:

Medical, dental, vision, company provided life insurance

Paid vacation

11 paid holidays

401k plan with generous company match

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