PURPOSE OF THE ROLE:
To lead the Costing function for Hey Dude brand. Create and implement Cost management process which is transparent and aimed at increasing product margin. Build “Should Cost” model for core styles. The scope includes both Material and Finished goods.
- Track and follow pricing and costing trends (currency exchange rate, commodities pricing, country wages) that may influence and impact company’s margin roadmap eventually leading to Creation of FOB Forecasting model
- Formulate initiatives and implement strategies in conjunction with suppliers (T1 and T2 - subcontractor) /Commercial Teams/ Development Teams & Management to mitigate cost challenges & maximize profitability opportunities
- Lead the costing team based in multiple locations and work alongside development and material team right from prototyping to production with an aim to achieve Target FOB & Margins
- Participate in Line Reviews to ensure the target FOB is set appropriately as well as providing expert input to maximize value and reduce cost.
- Lead Price negotiations with Suppliers to ensure Footwear margin targets are achieved.
- Initiate and lead the RFQ process for core styles across the key vendors
- This role is also responsible to ensure labor costs, overheads and efficiencies are constantly optimized
- Engage with HQ teams on retail price finalization and periodically provide costing insights
- Maintain documentation records for Internal audit purpose
- Build and implement a mechanism to measure and compare cost competitiveness of vendors and provide regular and transparent feedback during Quarterly Business Review meetings
- Able to build and implement “Should Cost Model” for core styles
- Track and optimize amortization cost of tooling/molds
DELIVERABLES AND INDICATORS (KPIs):
- Meeting seasonal target margin
- Cost sheets provided by vendors at each milestone to support Costing review during development process
- Tracking of commodities price, country wages and forecasting FOB
- Implementation of “Transparent Should Cost Model” for core styles
KEY ROLE DIMENSIONS:
- Internal: Material Team, development Team, Finance Team and Sourcing and Product Execution Team
- External: Finished Goods and Material Suppliers
College degree or above preferably in Finance/Accounting
10+ years of footwear costing experience inclusive of 5+ years with a multi-national brand/retailer – Needs to be footwear?
- Strong industry knowledge in footwear of at least 10 years, including all related input costs across the Footwear supply ecosystem in Asia
- Familiar with different footwear constructions & Processes, knowledge of Textile uppers is preferable
- Strong analytical skills and fact-based negotiation skills.
- Ability to communicate and work in a multi-cultural business environment and drive stakeholder engagement
- Proficient in MS Office, knowledge of Ariba is an advantage
- Responsible for the overall direction, coordination, and evaluation of this unit.
- Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws.
Excellent Negotiation skills, good leadership, good professional business ethic, good communication, Excellent team-building, Strong Integrity