Cost Optimization Specialist

3 days ago

Minneapolis, Minnesota, United States Biomerics Full time
About the Role

Biomerics is seeking a highly skilled Cost Analyst to join our dynamic team. As a Cost Analyst, you will play a crucial role in analyzing and optimizing costs throughout our manufacturing process.

Key Responsibilities
  • Month-End Closing: Prepare closing journal entries and reconcile inventory balance sheets to ensure accurate financial reporting.
  • Transactional Cost Accounting Transition: Support the transition of duties to the Biomerics' Business Service Center (BSC) to ensure seamless cost accounting processes.
  • Standard Costing: Ensure accurate standard costing and adherence to corporate guidelines to maintain cost-effectiveness.
  • Annual Cost Management: Oversee annual cost build management and analysis to identify areas for cost reduction.
  • BOMs and Routes: Prepare and review Bills of Materials (BOMs) and routes, including loading new products into the ERP system to ensure efficient production processes.
  • Costing/Quoting Rates: Communicate rates for costing and quoting to ensure accurate pricing.
  • Variance and Absorption Analysis: Conduct detailed variance and absorption analysis to identify areas for cost improvement.
  • Quality Reporting: Report on scrap, rework, and other quality-related costs to ensure quality control.
  • Budget and Forecasting: Support annual budget preparation and quarterly/semi-annual re-forecasts to ensure accurate financial planning.
  • Inventory Management: Analyze inventory levels, coordinate physical and cycle counts, and manage obsolete inventory to ensure efficient inventory management.
  • Inventory Cost Analysis: Perform inventory carrying cost analysis and recommend process improvements to reduce costs.
  • Internal Reporting: Prepare and support internal management reporting, including operational KPIs, cost estimates, trends, and PPV reporting to ensure informed decision-making.
Requirements
  • Experience: 3-5 years of cost accounting experience in a manufacturing setting, preferably in Medical Devices.
  • Analytical Skills: Strong analytical abilities and proficiency with advanced Excel functions.
  • Project Management: Ability to manage multiple projects simultaneously.
  • Communication: Excellent written and verbal communication skills.
  • Teamwork: Demonstrated commitment to teamwork and collaboration.

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