Product Cost Associate, Apparel

We are seeking a highly analytical and detail-oriented Product Cost Associate to join our team and drive cost efficiency across our product lines. This role is pivotal in ensuring that our production costs are accurately analyzed, tracked, and managed to support overall profitability. As part of the Procurement Team, the ideal candidate will leverage their expertise in cost analysis, supplier costing, and data reporting to provide actionable insights that directly impact our margin strategies.

Success in this role means developing a detailed understanding of our product costs – both what they should be as well as what assumptions vendors are using to cost our products,  delivering precise cost reports, identifying discrepancies between projected and actual costs, and collaborating with cross-functional teams to implement cost-saving measures. This position offers the opportunity to make a significant impact on our business by ensuring that cost structures align with our strategic goals and market conditions.

RESPONSIBILITIES:

Should-cost Analysis & Calculations:

• Break down material, crafting, trims/hardware, packaging, and overhead costs to understand the key assumptions driving total product costs.
• Compare actual costs against projected to identify and resolve discrepancies.

Supplier & Vendor Costing:

• Analyze supplier quotes and cost breakdowns and compare them against internally developed should-cost models to identify sources of leverage.
• Identify discrepancies in vendor pricing and provide data-backed insights to build the negotiation strategy.
• Assist in fact-based cost negotiations with vendors to achieve targeted cost-saving objectives.

Margin & Profitability Analysis:

• Evaluate how cost variations affect overall profitability, both at a product level and portfolio level.
• Provide actionable insights and recommendations to the pricing team.

Collaboration with Cross-Functional Teams:

• Work closely with finance, merchandising, sourcing, and planning teams to align cost objectives with overall business goals.
• Ensure cost structures support the company’s strategic and market positioning.

Data & Reporting:

• Prepare detailed cost reports and financial models for leadership review.
• Identify trends in material costs and lead initiatives for cost-saving strategies.
• Maintain and update the central cost-tracking system as the single source of truth for product costing.

REQUIREMENTS:

• Analytical skills – Strong ability to dissect complex cost structures and analyze data effectively.
• Attention to detail – Exceptional accuracy in cost calculations and data reporting.
• Negotiation skills – Exposure to and/or experience in negotiating with vendors and suppliers.
• Industry knowledge – Understanding of manufacturing processes and cost structures, ideally within apparel, manufacturing, consumer goods, or retail sectors.
• Technical proficiency – Extremely high proficiency in Excel, experience with cost-tracking systems or financial modeling tools, and quick ramp-up to new systems
• Communication – Excellent interpersonal and communication skills to collaborate across multiple teams
• Bachelor’s degree in Finance, Business, Supply Chain Management, or a related field is preferred.

Preferred:

• Advanced degree in supply chain, business, or a related field.
• Familiarity with digital tools and systems for procurement and supplier management.
• Language skills – secondary language highly valuable, particularly Mandarin or Hindi