Senior Inventory Cost Analyst

Lube-Tech; Golden Valley (MN); Hybrid; USD 84,000 - 107,000; Full time

Benefits offered by this job

Medical plan options

Dental & Vision Insurance

FSA/HSA options

Paid parental leave

Disability & life insurance

401(k) with company match

Pet insurance

Tuition reimbursement

Paid time off - 21 days

Paid holidays - 7 days

STIP

Job summary

Ascentek in Minnesota is seeking a Senior Inventory Cost Analyst to partner with manufacturing and operations, ensuring accurate inventory costing and insightful variance analysis that drive cost performance and profitability. You will maintain standard costs, support month-end close, and collaborate across supply chain, accounting, and operations to improve costing accuracy and internal controls.

This role offers a hybrid schedule (on-site 3 days) with comprehensive benefits and a strong path

Qualifications

• 4-year bachelor-s degree in accounting/finance or related field.
• 4+ years of progressive experience in cost/inventory accounting or related areas.
• Strong knowledge of cost accounting and inventory accounting principles.

Responsibilities

• Manage inventory costing processes including standard costing and valuation.
• Analyze inventory transactions, variances, and cycle counts.
• Support month-end and year-end close with cost analyses.
• Collaborate with operations to improve costing accuracy and reporting.

Skills

Cost accounting

Inventory accounting

Advanced Excel

Data analysis

ERP systems

Education

Bachelor's degree in accounting/finance or related field

Tools

JD Edwards

Excel (Advanced)

SQL/Database tools

Job description

Description

With a purpose to make tomorrow a little bit better than today for each other, our customers, and our communities, Ascentek provides an environment where you can love what you do and be your best every day.

What you will enjoy by being a part of a 2025 USA Great Place to Work certified company:

A position that is: Salary, Full time, Monday - Friday

• Medical Plan options, including fertility coverage and free mental health and telehealth coverage
• Dental and Vision Insurance
• FSA/HSA options
• Paid parental leave
• Company-provided short-term disability, long-term disability, and life insurance
• Supplemental Insurances, including accident, critical illness, hospital, and supplemental life insurance
• 401(k) with a generous company match
• Pet Insurance Benefits
• Tuition reimbursement
• 21 Paid Days Off
• 7 Paid Holidays

• Short-Term Incentive Plan (STIP), ask your Talent Partner for details
• Dress For Your Day (casual dress environment)
• Work Your Way (hybrid work) - Three days on site
• Paid comprehensive on-the-job training
• Company provided phone
• Company provided computer
• Career advancement opportunities

The Senior Inventory Cost Analyst serves as a key financial partner to manufacturing and operations leadership, providing analysis and insights that improve cost performance, margins, budgeting, and operational decision-making. This Analyst plays a critical role in ensuring accurate inventory costing, analyzing variances, supporting financial reporting, and improving inventory control processes to enhance operational efficiency and profitability.

This role is responsible for managing inventory costing processes, analyzing inventory transactions and variances, maintaining accurate standard costs, and supporting financial reporting and inventory control. This role includes cost analysis, inventory valuation, variance investigation, monthend close support, and collaboration with operations, supply chain, and accounting teams.

The Senior Inventory Cost Analyst ensures the accuracy, integrity, and usability of inventory and product cost data. The role blends cost accounting, inventory control, and operational analysis to support profitability and operational performance.

ESSENTIAL DUTIES and RESPONSIBILITIES:

Inventory Costing & Valuation

• Manage and oversee inventory costing processes, including standard costing and inventory valuation.
• Develop, maintain, and update standard costs for materials, labor, and overhead.
• Review and maintain overhead rates and ensure accurate cost allocation.
• Evaluate the reasonableness of standard costs by comparing standards to actual material consumption, labor performance, production activity, purchasing trends, and expected operating conditions.

Inventory Analysis & Control

• Analyze inventory transactions, discrepancies, and adjustments to ensure accuracy.
• Oversight of cycle counts and support yearend physical inventories.
• Monitor inventory levels, aging, slowmoving items, and valuation.
• Strengthen internal controls over inventory movement and reporting.

Variance Analysis and Inventory Reporting

• Develop and maintain regular inventory-related financial reports and analysis of manufacturing costs, operational performance, and key financial metrics.
• Analyze material, labor, and overhead variances regularly.
• Investigate significant variances and partner with operations to resolve issues.

Operational & CrossFunctional Support

• Collaborate with supply chain and operations teams to improve inventory accuracy and costing.
• Coordinate and reconcile physical inventory counts with financial records.
• Conduct time studies to validate labor and machine standards.

MonthEnd & YearEnd Close

• Analyze monthly manufacturing performance and investigate significant variances to determine their underlying operational and financial drivers.
• Partner with accounting and operations to communicate financial results, explain cost performance, and develop actionable plans to address unfavorable trends and improve operating results.
• Support month-end close by providing manufacturing cost analysis, explaining significant variances, and preparing a limited number of journal entries related to manufacturing.
• Support close activities related to inventory, WIP, and COGS.
• Support the annual budgeting and periodic forecasting processes for manufacturing operations, specifically for work center costs, labor rates, overhead spending and cost absorption.

Process Improvement & Special Projects

• Develop and document SOPs for inventory control and costing processes.
• Implement improvements to enhance inventory accuracy and efficiency.
• Support special projects and other financial analysis requested by finance and business leadership.

Education:

• 4-year bachelor's degree in accounting/finance or related field.

Experience and/or Training:

• 4+ years of progressive experience in cost accounting, operations finance, manufacturing finance, or a related field.
• Demonstrated experience analyzing manufacturing variances, supporting operational budgets and forecasts, and communicating financial results to nonfinancial business partners is strongly preferred.

Knowledge, Skills, and Abilities:

• Strong knowledge of cost accounting and inventory accounting principles.
• Experience with ERP systems and inventory modules.
• Advanced Excel and data analysis skills.
• Ability to investigate variances and explain cost drivers.
• Strong communication and crossfunctional collaboration skills.
• 3+ years of experience in cost or inventory accounting. Strong organizational skills and attention to detail
• Ability to independently problem solve
• Proficiency in the Microsoft suite of tools (Word, Excel, PowerPoint, etc.). JD Edwards accounting software and advance Excel and database management experience preferred.

Physical, Mental, Environmental Demands:

While performing the duties of this job, the employee is frequently required to sit, talk and/or hear, and/or use hands to handle, or touch objects, tools, or controls. The employee is occasionally required to stand, and/or walk. The employee must occasionally lift and/or move up to 10 pounds while moving files or small packages. Specific vision abilities required by this job include close vision and the ability to adjust focus. The employee is continuously required to perform comprehensive reasoning, decision making and math skills.

Work is performed in an office environment. The noise level in the work environment is usually moderate. The work environment characteristics described here are representative of those an individual encounters while performing the essential functions of this position.

The mental and physical requirements described here are representative of those that must be met by an individual to successfully perform the essential functions of this position.

The anticipated hiring range for the role you are applying for is between $83,600 and $107,000 annually. This anticipated hiring range is based on several factors, and subject to increase based on the below:

1. Experience and qualifications: The depth of relevant experience and specific skills you bring to the position.
2. Education and certifications: Any additional qualifications that enhance your ability to succeed in the role.
3. Market and industry benchmarks: We compare compensation packages with industry standards to ensure we are competitive.
4. Internal equity: We strive to maintain pay equity across the organization to ensure fairness for all teammates performing similar work.

At Ascentek, we are committed to providing accurate and up-to-date information about our career opportunities. For the most accurate job descriptions, salary details, and benefit information, we encourage you to visit our official careers page at https://www.ascentek.com/careers/.

Ascentek is an Equal Opportunity Employer, including Protected Veterans and Individuals with Disabilities.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

This employer is required to notify all applicants of their rights pursuant to federal employment laws.

For further information, please review the Know Your Rights notice from the Department of Labor.