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Costing and Procurement Specialist

2 months ago

Bryan, Ohio, United States The Ohio Art Company Full time
Job Summary

The Ohio Art Company is seeking a highly skilled Costing and Procurement Analyst to join our team. As a key member of our finance department, you will be responsible for overseeing and managing all aspects of cost accounting, cost control, and financial analysis within the organization.

Key Responsibilities
  • Cost Analysis and Control
    • Develop, implement, and maintain cost accounting systems and procedures to ensure accurate cost allocation and effective cost management.
    • Analyze production and operational costs to identify trends, variances, and areas for cost reduction, and provide recommendations for improvement.
    • Monitor and control inventory costs, ensuring accuracy and adherence to budget, and implement measures to optimize inventory levels.
  • Budgeting and Forecasting
    • Prepare detailed cost estimates and budgets for new and existing projects or operations, and collaborate with other departments to forecast future costs and financial needs.
    • Conduct regular budget reviews and variance analysis to ensure alignment with financial goals, and provide insights and recommendations for improvement.
  • Financial Reporting
    • Generate accurate and timely cost reports, including cost of goods sold, gross margins, and profitability analyses, and provide insights and recommendations for improvement.
    • Prepare monthly, quarterly, and annual financial statements and reports for management review, and ensure compliance with accounting standards and regulatory requirements.
  • Cost Management Strategies
    • Develop and implement cost control measures and strategies to optimize financial performance, and identify cost-saving opportunities and lead initiatives to enhance operational efficiency.
    • Evaluate and recommend changes to cost structures and pricing models, and implement measures to optimize revenue growth.
  • Procurement and Vendor Management
    • Develop and implement strategic procurement initiatives that align with the company's goals and objectives, and 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, and monitor procurement KPIs and implement improvement plans as needed.
  • Team Collaboration
    • Collaborate with cross-functional teams, including finance, production, and procurement, to align cost management efforts and ensure effective communication and coordination.
  • Continuous Improvement
    • Stay current with industry trends, market conditions, and technology advancements to improve procurement strategies and cost management practices, and participate in educational opportunities to enhance job knowledge and skills.
Requirements
  • Education
    • 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).
  • Experience
    • 1-3 years of experience in cost accounting, financial analysis, or a related role, with a strong understanding of cost accounting principles, financial modeling, and budgeting.
  • Skills
    • Strong attention to detail and accuracy in financial data entry and recordkeeping, with excellent analytical, problem-solving, and communication skills.
    • Excellent organizational and time management skills, with the ability to prioritize tasks and meet deadlines, and proficiency with Microsoft Office Suite and accounting software.