Product Cost Associate

13 Hours ago • All levels • Product • $110,000 PA - $130,000 PA

Job Summary

Job Description

Quince is seeking a highly analytical and detail-oriented Product Cost Associate to join the Procurement Team. This pivotal role focuses on driving cost efficiency across product lines by accurately analyzing, tracking, and managing production costs to support profitability. The ideal candidate will leverage expertise in cost analysis, supplier costing, and data reporting to provide actionable insights influencing margin strategies. Responsibilities include detailed product cost understanding, comparing actual costs against projections, identifying discrepancies, and collaborating with cross-functional teams to implement cost-saving measures. The role involves analyzing supplier quotes, building negotiation strategies, assisting in cost negotiations, evaluating cost variations' impact on profitability, and providing recommendations to the pricing team.
Must have:
  • Strong analytical skills for complex cost structures
  • Exceptional attention to detail in cost calculations
  • Exposure to vendor/supplier negotiation
  • Understanding of manufacturing cost structures (apparel, retail)
  • High proficiency in Excel and financial modeling tools
  • Excellent interpersonal and communication skills
  • Bachelor's degree in Finance, Business, or Supply Chain
Good to have:
  • Advanced degree in supply chain or business
  • Familiarity with procurement/supplier management tools
  • Mandarin or Hindi language skills

Job Details

OUR STORY

Quince was started to challenge the existing idea that nice things should cost a lot. Our mission was simple: create an item of equal or greater quality than the leading luxury brands and sell them at a much lower price. 

OUR VALUES

Customer First. Customer satisfaction is our highest priority.

High Quality. True quality is a combination of premium materials and high production standards that everyone can feel good about.

Essential design. We don’t chase trends, and we don’t sell everything.  We’re expert curators that find the very best and bring it to you at the lowest prices.

Always a better deal. Through innovation and real price transparency we want to offer the best deal to both our customers and our factory partners.  

Environmentally and Socially conscious.  We’re committed to sustainable materials and sustainable production methods. That means a cleaner environment and fair wages for factory workers.

OUR TEAM AND SUCCESS 

Quince is a retail and technology company co-founded by a team that has extensive experience in retail, technology and building early stage companies. You’ll work with a team of world-class talent from Stanford GSB, Google, D.E. Shaw, Stitch Fix, Urban Outfitters, Wayfair, McKinsey, Nike etc.

THE IDEAL CANDIDATE:

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

 

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About The Company

At Quince, we’re not just building teams; we’re seeking individuals who are ready to make significant contributions in a streamlined and efficient environment. Our organizational structure is intentionally lean, allowing team members to have a major impact swiftly and efficiently. This approach ensures that innovation and decision-making processes thrive, enabling you to focus on what truly matters - achieving results and advancing our mission. We craft roles that are not only vital to our business needs but also provide substantial opportunities to make a meaningful impact. Our aim is for every employee’s efforts to directly advance our mission of delivering high-quality products at fair prices.

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