Product Costing Coordinator in Northvale, New Jersey at MIDAS CHAIN INC

The Company

Midas Chain, known as the premier jewelry manufacturer in the U.S. and worldwide, sells exclusively to the jewelry trade. Midas began as a family business 40 years ago, with expert craftsmanship marked as the company’s keystone. Our jewelry quality is paired with our commitment to creating genuine client relationships uniquely tailored to each jeweler. We proudly work in collaboration with mom-and-pop shops, national retailers, and everyone in between. We offer a beautiful work environment, competitive salary and a comprehensive benefit package including medical, dental, vision, LTD, Life, 401K Profit Sharing, PTO, Paid Sick Leave and company paid holidays.

About the Role:

The Product Costing Coordinator plays a critical role in ensuring accurate and timely cost analysis for products within the wholesale trade sector. This position is responsible for gathering, analyzing, and maintaining detailed cost data to support pricing strategies. The coordinator collaborates closely with cross-functional teams to validate cost inputs. By maintaining precise product costing records, this role directly impacts the company’s profitability and competitive positioning in the market. Ultimately, the Product Costing Coordinator ensures that all product cost information is reliable, up-to-date, and aligned with organizational goals to facilitate informed decision-making.

Responsibilities:

• Collect and analyze cost data related to raw materials, labor, overhead, and logistics to determine accurate product costs.
• Product set-up for all new items (finished goods, raw materials, etc.) based on new customer requests or changes to current products.
• Coordinate with merchandising team and production teams for new specs/changes and ensure changes to the set ups are complete
• Maintain and update the product costing database in SAP to reflect changes in supplier pricing, production processes, and market conditions.
• Maintain bill of materials for current products as prices and production location changes.
• Collaborate with procurement and production teams to verify cost inputs and resolve discrepancies.
• Ensure standard costs of established items are correct.
• Prepare detailed cost reports and summaries for management review to support pricing and budgeting decisions.
• Assist in the development and implementation of cost control measures and continuous improvement initiatives.
• Communicate effectively with cross-functional teams to ensure alignment on cost-related matters and project updates.
• Back-up Ecommerce Specialist and purchasing functions are needed.
• Other duties as assigned.

Minimum Qualifications:

• Bachelor’s degree in accounting, Finance, Business Administration, or a related field.
• At least 2 years of experience in product costing, cost analysis, or a related financial role.
• Advanced demonstrated proficiency in Microsoft Excel and experience with ERP or costing software systems, SAP a plus.
• Strong analytical and numerical skills with attention to detail.
• Excellent communication skills, both written and verbal.

Preferred Qualifications:

• Experience in the wholesale trade industry or a similar supply chain environment, fine jewelry industry a plus.
• Knowledge of Lean or Six Sigma methodologies related to cost reduction.
• Certification in Cost Accounting or related professional credentials.