Inventory Cost Analyst

Job Description

Job Description

Reports To: Inventory Cost Manager
Direct Reports: N/A
FLSA Status: Exempt (Not eligible for OT)
Employment Type: Full time
Position Overview: The Inventory Analyst will help the organization’s management navigate inventory purchases and investigate inventory transaction trends by performing detailed cost and variance analysis. The role focuses on analyzing purchase price variances, usage variances, and production variances to identify drivers of cost fluctuations and operational inefficiencies. The Inventory Analyst will prepare regular and ad hoc reports to guide management decisions, determine standard costs, and investigate variances from current costs, providing clear, actionable insights to support inventory and production planning.
Essential Job Functions:

• Develop strong partnerships between operating locations, departments and key individuals to ensure inventory procedures are followed.
• Prepare weekly, monthly, and annual summaries related to several inventory focused metrics including but not limited to cycle counts, issuing to scrap, and miscellaneous transactions.
• Compile, analyze, and evaluate data related to Cost of Goods Sold (COGS), Labor and Overhead Rate (LB/OVH), and other manufacturing financial metrics
• Establish regular Bill of Materials (BOM) and labor routing reviews for consistency across manufacturing locations.
• Identify root causes and disconnects to help management develop resolutions to inventory inaccuracies, material flow issues and manufacturing cost discrepancies with regard to the established BOMs and labor routings.
• Prepare supporting documents for general ledger reconciliations for all inventory and cost of goods accounts.
• Assist in the implementation of inventory policy changes and monitor the activity during the changeover period.
• Analyze and track material usage deviations from standard expected consumption to pinpoint needed corrections
• Audit costing methods, research variances, providing process improvement recommendations.
• Analyze gross margins by product, plant, and variance from standards.
• Utilize data points to support plant efficiency reports and present arguments for improving weak points and reinforcing strengths.
• Assist in month end reporting and financial close cycle.
• Other duties as assigned

Training: Provided on the job and supplemented with external seminars/classes.
Qualifications:
Education & Certifications: Associate’s or Bachelor’s Degree in business, accounting, finance, or equivalent experience.
Experience: 3-5 years previous work experience; prior manufacturing / costing experience
Key Competencies:

• Investigative skills
• Strong work ethic, ability to work independently with limited supervision
• Problem-solving and keen attention to detail
• Use of ERP and vendor management systems

Physical Requirements: Must be able to stand or sit for duration of day and walk frequently.
Working Conditions: Daily work in a temperature-regulated office environment, frequent interaction with individuals, and occasional independent work in personal office.
EEO Statement: National Safety Apparel provides equal employment opportunities for all persons regardless of race, color, religion, sex, national origin, handicap, disability, ancestry, age, veteran status, marital status, sexual orientation or any other protected group status as defined by law.

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