Costing & Sourcing Specialist

As a Costing & Sourcing Specialist, you will play a critical role in optimizing product costs and sourcing strategies for our hardgoods category. You will collaborate closely with cross-functional teams to deliver high-margin products from qualified suppliers. Key responsibilities include building standardized costing templates, managing RFQ processes, negotiating competitive pricing, and exploring new sourcing opportunities.
Key Responsibilities:
• Cost Optimization:
- Develop and maintain standardized Cost Breakdown (CBD) templates.
- Conduct thorough Request for Quote (RFQ) processes to identify competitive pricing and comparable costs across vendors.
- Negotiate with suppliers to achieve or exceed margin targets.
- Continuously seek opportunities for cost reduction through vendor negotiations, leveraging cost breakdown data, and implementing strategic sourcing initiatives.
• Supplier Management:
- Identify and qualify new suppliers to mitigate supply chain risks and ensure business continuity.
- Conduct independent factory audits to assess supplier capabilities and compliance.
• Data Management:
- Maintain accurate and up-to-date records in the PLM database and other relevant systems, including CBDs, graphic cost tracking files, and factory audit reports.
• Cross-Functional Collaboration:
- Regularly communicate cost status updates to development, graphic design, and merchandising teams.
- Collaborate with the quality assurance team to ensure product quality and compliance.