Cost Engineering & Sourcing Strategy Analyst

The Cost Engineering & Sourcing Strategy Analyst (internally known as Cost Engineering Analyst) evaluates cost, commodity and market data to identify and set cost out goals, then coordinates and partners with cross functional teams to develop and execute cost out strategies using Cost Engineering tools, including but not limited to competitive bidding, presentation and negotiations materials, analysis on CTQ, consumer review, survey, assortment, should-cost, competitive, and demand transfer data.

What you’ll do:

• Mine, combine and assess facts from 3rd party experts, publications, vendors and internal partners (Cat Management, Finance, Domestic Merchants, Import Merchants, Pricing) to identify and prioritize cost engineering opportunities
• Monitor changes in commodity markets, industry shifts (M&A), product innovations to evaluate changes in negotiation gaps / leverage
• Use input cost models and price opportunity reporting to identify off-cycle cost out opportunities
• Synthesize product, assortment, competitive and market research into actionable insights and opportunities for cost negotiations through the Cost Engineering process
• Review spend data to help prioritize areas of focus
• Research cost drivers across various industries, vendors and products
• Learn the key metrics, CTQ, features and drivers for different product categories
• Leverage consumer data/reviews, surveys, interviews and pilot programs to test assumptions and assess brand value
• Use demand transfer data and margin impact models to evaluate assortment updates impacts, quantify negotiation tradeoffs (carrots and sticks) and prioritize recommendations for merchants
• Identify inconsistencies in vendor pricing architecture to demonstrate the need for cost concessions
• Incorporate merchant expertise and context into analysis to account for nuance and real-world factors
• Serve as an independent, unbiased thought contributor capable of using data to make recommendations others may have overlooked and to influence cross-functional stakeholders
• Track project milestones and resolve roadblocks to ensure project timelines stay on track
• Coordinate and host recurring category team meetings to investigate opportunities, assess vendor bids and craft negotiation strategies
• Maintain a repository of facts, analysis, dashboards, charts and findings for respective projects
• Conduct negotiation training and mock negotiations
• Author materials for and participate in vendor negotiations using fact-based analysis
• Manage line review bid process using eRFx platform (program creation, coding scenarios, impact analysis, troubleshoot issues, coordinate vendor communications, track and report on progress)
• Employ analytics tools (eRFx, Alteryx, Power BI, Excel) to evaluate bid scenarios, calculate cost savings and profit margin impacts
• Efficiently run detailed financial analysis for scenario testing and cost out projections
• Provide recurring performance and execution updates
• Refine should-cost models and commodity insights, establish cost out goals, and identify margin growth prospects
• Accumulate expertise and insights on raw material markets and manufacturing processes
• Manage list of negotiation tactics in Merchandising Leverage Library
• Introduce and drive CE best practices; lead continuous improvement of analytic tools, methodologies, and visualization for the CE team
• Help refine and enhance cost reporting in Power BI
• Collaborate with Merchandising, Category Management, Finance and Pricing
• Advice on the differences in commodity prices and manufacturing processes
• Occasionally perform Ace and competitor product tear downs

What you will need:

• Able to interpret complex, large volume and sometimes contradictory data to develop fact-backed insights and strategies
• Demonstrated analytic abilities with an emphasis on critical thinking, root cause analysis, and problem solving required
• Ability to collaborate effectively in a cross functional team setting to share insights, co-create outputs and iterate with speed
• Demonstrated self-starter and ability to semi-independently run analysis to drive to answers
• Clear, proactive and collaborative communicator
• Can tactfully address issues with internal and external…