Category Cost Manager

Work Schedule

First Shift (Days)

Environmental Conditions

Office

Job Description

As part of the Thermo Fisher Scientific team, you’ll discover meaningful work that makes a positive impact on a global scale. Join our colleagues in bringing our Mission to life every single day to enable our customers to make the world healthier, cleaner and safer. We provide our global teams with the resources needed to achieve individual career goals while helping to take science a step beyond by developing solutions for some of the world’s toughest challenges, like protecting the environment, making sure our food is safe or helping find cures for cancer.

Job Title: Category Cost Manager

Job Band: 7Function: Global ProcurementLocation: Budapest     Reports To: Senior Manager, EMCM Cost Transformation

Position Summary

The Category Cost Manager (Band 7) supports cost transparency, cost modeling activities, and negotiation preparation within the assigned category. This role conducts detailed cost analyses, collaborates with suppliers on cost discussions, and partners with Category Managers to support sourcing and negotiation initiatives. The role also provides cost governance oversight to ensure productivity initiatives are tracked, validated, and aligned with procurement objectives. The position works closely with CMVA and cross-functional teams to deliver cost insights in alignment with category strategies and global procurement standards.

Key Responsibilities

Cost Analysis & Execution

• Support the development and application of cost models within the assigned category.
• Conduct cost breakdown analyses, benchmarking, and total cost of ownership (TCO) assessments.
• Identify cost drivers and improvement opportunities to support sourcing decisions.

Supplier Cost Engagement

• Participate in supplier cost reviews to analyze cost structures and identify cost-reduction opportunities.
• Support supplier cost workshops and technical reviews focused on transparency and value engineering.
• Collaborate with suppliers and internal stakeholders on cost-improvement initiatives.

Negotiation Support

• Provide cost analysis and fact-based insights to strengthen negotiation preparation.
• Develop cost scenarios and data-driven recommendations to support Category Managers during negotiations.
• Participate in negotiations as a cost subject-matter contributor.

Cost Modeling & Analytics

• Develop, validate, and maintain cost models for key components and commodities.
• Analyze supplier cost submissions and identify variances or potential savings.
• Present cost findings and recommendations to category leadership and stakeholders.

Cost Governance & Project Oversight

• Provide cost governance oversight within the assigned category by ensuring cost productivity initiatives are clearly defined, tracked, and progressing according to plan.
• Partner with project leaders to confirm cost savings initiatives are properly documented, validated, and updated in Thermo Fisher’s project management tool (Per Angusta).
• Monitor status, risks, and gaps associated with cost productivity projects and escalate concerns as appropriate.
• Support reporting of cost productivity pipeline, realized savings, and forecasted impact to Procurement leadership.
• Promote process discipline and data accuracy within cost tracking and savings reporting activities.

CMVA & Cross-Functional Collaboration

• Support CMVA initiatives by providing cost data and analytical insights.
• Collaborate with Category Managers to align cost analysis with upcoming sourcing events and supplier negotiations.
• Contribute to dashboards, reporting materials, and governance documentation.
• Partner with Operations, Engineering, Finance, Quality, and Business Units to align on cost expectations and improvement initiatives.
• Ensure adherence to Thermo Fisher procurement policies, compliance standards, and sustainability initiatives.

Minimum Requirements / Qualifications

• Bachelor’s degree in Supply Chain, Engineering, Finance, Business, or related field.
• 5–8 years of experience in sourcing, procurement analytics, cost engineering, or category management.
• Experience conducting cost modeling and financial analysis.
• Experience participating in supplier cost discussions and supporting negotiations.
• Proficiency in procurement and analytical tools (SAP, Ariba, Excel; cost modeling tools preferred).
• Strong communication and collaboration skills within a matrixed organization.

Knowledge, Skills & Abilities

• Strong analytical and financial acumen.
• Ability to understand manufacturing processes and supplier cost drivers.
• Effective participation in cost and technical discussions with suppliers and internal stakeholders.
• Strong collaboration skills in a global, matrixed environment.
• Ability to manage multiple priorities in a fast-paced setting.
• Results-oriented with strong accountability and ownership mindset.
• Continuous improvement mindset aligned with Thermo Fisher’s PPI culture.

Leadership Competencies (Thermo Fisher Band 7)

• Customer Focus
• Collaboration & Teamwork
• Business Acumen
• Drive for Results
• Decision Quality
• Negotiation Courage
• Continuous Improvement Mindset