I was going through a job profile of a Cost Analyst in the Costing Excellence Team with an apparel and fashion brand. A question came to my mind what should be the job roles for such a profile called Cost analyst and what does it mean for the Costing Excellence team.
I explored the company website to check the roles and job descriptions for this position. I found it to be an interesting area to share with you. Also, it would be a good idea for the companies who are interested to add such a profile in their company looking into its impact on the business as a whole. The candidate who is looking for such a job can also understand the job description of a cost analyst.
In this article, I am sharing the job description of a Senior Cost Analyst working with an apparel buying house (apparel brand).
About the Role (As per source)
The candidate to support in setting strategic direction for costing to ensure simplifying the costing process and getting costing transparency with supplier. The candidate needs to perform work and support the Manager/Senior Manager with the clear objective of setting up transparent costing with vendors and supporting in costing SMV negotiations and validation process.
Job Description of a Sr. Cost Analyst
- Improve the cost through key levers product strategy, man-machine ratio, factory efficiency, labor cost, and material optimization with the aim to deliver product value to the consumer.
- Establish and continuously update SMV-based library tools that enable transparent, fact-based costing with suppliers.
- Should able to establish SMV validation process to make sure SMV used in Production are in aligned with SMV used at the costing stage.
- Work with suppliers to bring them on an SMV-based costing journey as well as work with them in validating and aligning on the Cut to Pack SMV
- Validate Vendors' Operation Bulletin of the styles and validate SMVs of the style and critical operations.
- Establish an appropriate governance for cost validation through standardization, and benchmarking.
- Supporting in creating factory level and country level cost competitive matrix.
- Explore and develop new training tools and training materials for both the company's internal staff and external vendors/factories.
- Continuously work with Vendors and internal team on improving cost through SMV reduction
- Supports and tracks key factory productivity metrics by working with Manufacturing Excellence team
Skill and Knowledge requirement
- Strong knowledge of apparel manufacturing
- Should have a strong understanding of garment construction. He/she should be strong in SMV analysis and must have PMTS knowledge.
- Ability to create reports, and provide analysis and recommendations to improve productivity and line efficiency.
- Good and fluent in communication skills in English – both written and verbal
- Strong negotiations and Driving results,
- Risk management and troubleshooting
- Ability to work proactively in all situations in the process
- Ability to influence all levels of internal and external supplier management.
- Ability in basic planning activities like - planning, scheduling, and reporting
Conclusion:
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