Cost Engineering & Sourcing Strategy Analyst

Ace Hardware•Oak Brook, IL

3d•$88,400 - $110,700

About The Position

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, Databricks) 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

Requirements

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 business partners
Demonstrates poise, composure, presence, communication skills and an understanding of key data drivers to establish rapport and respect with negotiation partners
Experience developing creative solutions that provide win-win outcomes in difficult or ambiguous situations
Skilled in coordinating timelines and project managing across multiple simultaneous projects
Possess a positive attitude with a bias towards action
Proficient in the use of Microsoft Office Suite
Intermediate to advanced Excel skills with a passion for discovering answers and insights
Minimum of 3-5 years’ prior work experience, ideally in some of the following fields: Manufacturing, engineering, commodity trading, sourcing, analytics, forecasting, merchandising, product design, category management, consulting, project management
Bachelor’s degree or graduate degree preferred
Applicable fields of study include but are not limited to: Business, economics, engineering, analytics, mathematics, data science, supply chain, purchasing, merchandising, manufacturing, product design

Nice To Haves

Prior exposure to manufacturing, sourcing, product development desired
Preferably has previous experience using reporting tools such as Alteryx and Power BI
Prior experience with sourcing software (Coupa, Jaggaer, etc) a plus

Responsibilities

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, Databricks) 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

Benefits

We live our values - W.E.L.I.G.H.T (Winning, Excellence, Love, Integrity, Gratitude, Humility, and Teamwork). Gratitude. Humility. Love. You don’t often see values like these in most corporate statements, but Ace is different. These things are important to us. They represent our commitment to the company, our employees, to Ace retailers and to the Ace brand.
In addition to providing our employees a great culture, Ace also offers competitive benefits that address life’s necessities and perks, many of which expand and improve year after year, including:
Incentive opportunities, based on role/grade level (company growth over the past 5 years resulted in incentives being paid out at an average of 122% of your target opportunity!)
Generous 401(k) retirement savings plan with a fully vested matching contribution the first year in addition to quarterly contributions and annual discretionary contribution (once eligibility requirements have been met). Over the past 5 years, company contributions (matching, quarterly & discretionary) for fully eligible employees have averaged 10% of total eligible compensation
Comprehensive health coverage (medical, dental, vision and disability – up to 26 weeks short-term disability and long-term disability) & life insurance benefits for you and your dependents
21 days of vacation immediately available (prorated in the first year) and up to 6 paid holidays depending on the month of hire
Company Car, phone and fuel card are provided for field-based positions
Your career at Ace is more than just a job. It’s a chance to be part of something meaningful. We help locally-owned businesses thrive and make an impact in their communities – and we support our employees in doing the same by offering an annual Ace Cares Week, 20 hours off work per year to volunteer at an organization of your choice, opportunities to help Children’s Miracle Network Hospitals and the Ace Helpful Fund through the Ace Foundation
Ace invests in every employee we hire, with a key focus on development and coaching. We offer on-site classes, facilitator-led courses, and a generous tuition assistance program, plus a performance management approach that goes beyond the typical annual review
We know the work environment matters. That’s why Ace holds frequent campus events like Employee Appreciation Week, vendor demos, cookouts, and merchandise sales
We bring them to you! Services such as mobile spas, auto maintenance, car wash and detailing, dry cleaning, dentists, eye doctors, flu shots, recycling and more!
Employee discounts on Ace merchandise (including top brands like Weber, Traeger, Yeti, Craftsman, DeWalt and more), travel, fitness, computers and thousands more
Birth/Adoption bonding paid time off
Adoption cost reimbursement
Employee Assistance Program (EAP) – access to free visits to therapists and lawyers, guidance on financial matters, elder and childcare, and assistance with tickets to entertainment events
Identity theft protection
Benefits are provided in compliance with applicable policies.