Sourcing Cost Analyst

Sourcing Cost Analyst Your critical-thinking, analytical, and collaboration skills make you a great fit for our Sourcing Cost Analyst position. Join our dynamic team today and find a rewarding career with a company that values you and all you bring to the table. About Your Role: The primary duty of a Sourcing Cost Analyst is to generate and report product cost modeling. They will have a critical role in analyzing and estimating all attributes of product costs. This role will be responsible for building comprehensive "should cost" models to evaluate and benchmark the cost structure of SKUs, enabling informed decision-making, improving product build strategies, and driving cost reduction initiatives. This role will also track and report on commodity trends and provide product level impact insights to cross-functional teams. They will develop and grow expertise in commodity analysis, cost analysis, manufacturing processes, and market analysis to be able to generate accurate product cost models and actionable insights to support global sourcing, merchandise, and private brands with sourcing engagements, negotiations, and product development efforts. The Sourcing Cost Analyst will collaborate closely with cross-functional teams, including global sourcing, merchandise, private brands, and logistics to identify cost inefficiency opportunities, enhance cost transparency, and drive cost optimization across our product portfolio. Your day-to-day job duties include, but are not limited to, the following: Product Cost Modeling: Develop detailed "should cost" models for SKUs by analyzing material inputs, manufacturing processes, labor, overheads, currency, logistics, and other cost factors. Utilize expertise and detailed research to estimate costs for each component and build comprehensive item cost models. Cost Model Benchmarking: Compare "should cost" estimates to received market data to identify cost-saving opportunities, inefficiencies, and areas for improvement. Refine models accordingly and provide actionable insights to drive cost reduction and product improvement efforts. Negotiation Support: Work with merchandise and global sourcing teams to evaluate proposals and assist in the development of negotiation strategy with suppliers based on cost transparency and "should cost" analysis. Suggest cost-reducing specification modifications that still achieve quality and product use-case goals. Commodity Trend Reporting: Monitor and analyze commodity data for trend fluctuations and supply chain risks and proactively produce trend analysis reporting. SKU Specification Evaluation: Facilitate collection and validation of SKU specifications to identify opportunities for cost optimization, tariff engineering, and value enhancement by suggesting design modifications, alternative materials, or process improvements based on "should cost" models. SKU Specification Support: Assist with the preparation of market bid SKU specification prior to go-to-market requests for proposals. Monitor innovations and refine models: Perform market research and data gathering from various industry, government, trade sources, trade shows, and market innovation reports to ensure and enhance the accuracy of "should cost" models. Awareness and Training: Educate and train sourcing and buying teams on "should cost" analysis methodology, tools, and techniques to foster cost-conscious decision-making across the organization. Maximize profitability through product cost savings initiatives factoring in impact from sourcing strategy shifts, manufacturing practices, duty landscape, macro-economic variables, payment terms, logistics models, business and consumer needs. Other strategic sourcing projects as assigned. Your Required Skills and Experience: Bachelor's degree in Engineering, Economics, Supply Chain, or a related field. Proven experience as a Product Cost Analyst, Financial Analyst, or similar role, with a focus …

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