Inventory Cost Analyst

About the position MARS Solutions Group is looking for an experienced Inventory Cost Analyst located in Rosemont, IL (Hybrid). Our client is a Food industry leader looking for high-quality talent to make a difference. They are known to respect a traditional work week and often extend contracts for added job security and stability The Inventory Cost Analyst will play a critical role in managing and analyzing inventory costs, ensuring accurate financial reporting, and supporting decision-making processes within our retail operations. Manage and oversee inventory costing processes, including standard costing and inventory valuation. Conduct regular analyses of inventory transactions and adjustments to ensure accuracy and adherence to accounting standards. Collaborate with cross-functional teams to coordinate, reconcile and investigate physical inventory counts and variances with financial records. Prepare and analyze inventory-related financial reports, including variance analysis and trend analysis. Monitor and report on inventory levels, aging, and slow-moving items to support inventory management decisions. Assist in the month-end and year-end close processes related to inventory, including preparing journal entries and reconciliations. Develop and maintain inventory cost models and ensure consistency across all inventory-related activities. Implement and improve inventory control procedures to enhance accuracy and efficiency in inventory management. Provide insights and recommendations to management on cost-saving opportunities and inventory management strategies. Ensure compliance with accounting policies, procedures, and internal controls related to inventory. Reconcile and approves cost and quantity variances at PO and invoice level. Primarily work indoors in a climate-controlled environment. Operate Office equipment, including personal computer and phone. Your primary responsibilities include overseeing inventory costing processes, conducting regular analyses of inventory transactions, preparing financial reports, and collaborating with cross-functional teams to optimize inventory control procedures.

Responsibilities

• Manage and oversee inventory costing processes, including standard costing and inventory valuation.
• Conduct regular analyses of inventory transactions and adjustments to ensure accuracy and adherence to accounting standards.
• Collaborate with cross-functional teams to coordinate, reconcile and investigate physical inventory counts and variances with financial records.
• Prepare and analyze inventory-related financial reports, including variance analysis and trend analysis.
• Monitor and report on inventory levels, aging, and slow-moving items to support inventory management decisions.
• Assist in the month-end and year-end close processes related to inventory, including preparing journal entries and reconciliations.
• Develop and maintain inventory cost models and ensure consistency across all inventory-related activities.
• Implement and improve inventory control procedures to enhance accuracy and efficiency in inventory management.
• Provide insights and recommendations to management on cost-saving opportunities and inventory management strategies.
• Ensure compliance with accounting policies, procedures, and internal controls related to inventory.
• Reconcile and approves cost and quantity variances at PO and invoice level.

Requirements

• Bachelor's degree in Accounting, Finance, or related field, or equivalent experience. CPA or CMA certification is a plus.
• 3+ years of proven experience as an Inventory Cost Accountant, Inventory Analyst, or similar role within the retail industry.
• Strong understanding of inventory costing methods and inventory management principles.
• Proficiency in ERP systems, advanced Excel skills (vlookup, pivot tables), and experience with inventory management software.
• Proficiency in Microsoft D365 is a must.
• Excellent analytical skills with the ability to interpret complex data and identify trends.
• Knowledge of retail operations and familiarity with retail industry trends is preferred.

Nice-to-haves

• A detail-oriented approach: Must pay very close attention to details and have the drive to get things right.
• High comfort level working in ambiguous, rapidly changing environments and ability to manage multiple projects simultaneously.
• Ability to present information and communicate complex ideas clearly and succinctly.
• Able to prioritize activities in a multi-tasked environment required.
• Regularly provides work that is accurate, thorough and consistent.
• Strong analytical skills. Analyzes complex information.
• Able to make accurate decisions and solve problems, many of which are complex, with little direction.
• Works independently on most assignments. Brings forward ideas for improvement.
• Collaborates well with team members and other work associates.
• High degree of reliability including accountability for daily, weekly, and long-term projects
• Excellent organizational skills and communication skills, both written and verbal.
• Ability to interact positively with wide variety of employees at all skill levels.
• Excellent customer service skills, with the ability to work through obstacles to achieve a goal.
• Possesses a high degree of professionalism, tact, and persistence.
• Up to 10% of travel.

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