Inventory/Cost Accountant

Job Description:

Founded in 1912, ITW (

NYSE:

ITW) is a global industrial company built around a differentiated and proprietary business model. The company's seven industry-leading segments leverage the ITW Business Model to generate solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW's approximately 45,000 dedicated colleagues around the world thrive in the company's decentralized, entrepreneurial culture. Division Description ITW Deltar Fasteners is a large division within the Automotive Segment and serves all the major OEMs and their tier suppliers with plastic fasteners. Locations include Frankfort, IL, Chippewa Falls, WI and our Commercial Sales and Engineering in Troy, MI. The division drives profitability by leveraging its innovative solutions and application engineering. In addition to ITW's industry leading research and development capabilities, ITW Deltar Fasteners enhances our customers' competitive advantage by: Maintaining advanced engineering and manufacturing facilities in NA. Exchanging product, process, and benchmarking information with sister units worldwide. Continually improving processes, material, and designs to ensure every product exceeds customer specifications while providing unparalleled value. Position Summary The Inventory/Cost Accountant manages divisional inventory costing, Bill of Materials integrity, and accurate valuation of raw materials in close collaboration with Operations. This role drives month-end inventory accounting processes while ensuring compliance, audit readiness, and continuous improvement through data analytics and automation tools. Primary Responsibilities Manage Divisional Bill of Materials entries and data integrity Maintain accurate valuation of raw materials in conjunction with Operations Team Perform (observe) cycle count analysis, monitor discrepancies, and recommend improvements Update and manage cost updates and standards roll Prepare various general ledger entries related to inventory Prepare account reconciliations, variance analysis, and various accrual calculations Inventory grading (active & slow moving) and Shrink support Assist Accounting Management with Divisional Physical Inventory Monitor compliance with company policies and internal control procedures Participates in preparing audit materials, including any documentation, and ensures that all entries are entered into the system properly Serving as a backup and/or assisting, as needed, to the Staff Accountant/Senior Accountant Backup to interface function between ERP & General Ledger System Back up to fixed asset management and capital projects and reporting Drive continuous improvement and process efficiency by leveraging automation and data tools such as Power Query, Power BI, and other available systems Other duties as assigned

Position Skills and Experience Requirements:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Bachelor's degree in accounting, finance, or related field 3+ years of progressive experience in manufacturing accounting/finance Strong knowledge of cost accounting principles, standard costing, BOM management, variance analysis, and inventory valuation methods Advanced proficiency in Excel; hands-on experience with Power Query, Power BI, or similar BI tools for reporting and automation Experience with ERP systems in inventory, costing, and general ledger modules Excellent analytical, problem-solving, and communication skills

Compensation Information:

The specific hiring rate within the posted pay range will depend on the successful candidate's qualifications, prior experience, and the geographic location. For example, in Illinois, the pay rate will be between $70,000-$85,000 (highly experienced).