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Cost Reduction Manager Jobs in Chicago, IL (NOW HIRING)

Cost Accountant

Manteno, IL · On-site

$65K - $86K/yr

Prepare and present financial reports to senior management * Develop and implement cost reduction strategies * Track and monitor variances between actual and budgeted costs * Maintain accurate ...

Cost Accountant

Cary, IL · On-site

$85K - $100K/yr

Identify opportunities for cost reduction and process efficiency. Inventory & Compliance ... High level of integrity and ability to manage confidential information. * Strong attention to ...

Cost Accountant

Cary, IL · On-site

$85K - $100K/yr

... management solutions, including industrial heaters and systems, heat tracing, and a range of ... Identify opportunities for cost reduction and process efficiency. Inventory & Compliance

Senior Cost Accountant

Addison, IL · On-site

$90K - $110K/yr

Key Responsibilities Cost Accounting & Inventory Management * Maintain and improve standard costing ... Support continuous improvement initiatives and cost reduction efforts * Assist with capital ...

Senior Cost Accountant

Addison, IL · On-site

$90K - $110K/yr

Key Responsibilities Cost Accounting & Inventory Management * Maintain and improve standard costing ... Support continuous improvement initiatives and cost reduction efforts * Assist with capital ...

Senior Cost Accountant

Addison, IL · On-site

$90K - $110K/yr

Key Responsibilities Cost Accounting & Inventory Management * Maintain and improve standard costing ... Support continuous improvement initiatives and cost reduction efforts * Assist with capital ...

Strategic Sourcing Manager

Hillside, IL · On-site

$126K - $164K/yr

This role manages supplier relationships, negotiates contracts, and collaborates with cross ... Analyze market trends, conduct cost analyses, and identify opportunities for cost reduction and ...

Strategic Sourcing Manager

Hillside, IL · On-site

$126K - $164K/yr

This role manages supplier relationships, negotiates contracts, and collaborates with cross ... Analyze market trends, conduct cost analyses, and identify opportunities for cost reduction and ...

Strategic Sourcing Manager

Hillside, IL · On-site

$126K - $164K/yr

This role manages supplier relationships, negotiates contracts, and collaborates with cross ... Analyze market trends, conduct cost analyses, and identify opportunities for cost reduction and ...

Indirect Procurement Manager

Chicago, IL · On-site

$120K - $144K/yr

Interact with supply base and internal "customers" to identify and implement cost reduction ... Manage and enhance supplier performance through standardized processes and continuous improvement ...

Senior Cost Analyst

Chicago, IL · On-site

$110K - $120K/yr

Partner with Operations to identify cost reduction opportunities and support continuous improvement ... Inventory Management & Controls Oversee inventory valuation, including raw materials, work-in ...

Senior Cost Analyst

Chicago, IL · On-site

$86K - $109K/yr

... cost reduction opportunities and support continuous improvement initiatives. Margin Analysis ... Inventory Management & Controls · Oversee inventory valuation, including raw materials, work-in ...

Senior Cost Analyst

Chicago, IL · On-site

$110K - $120K/yr

... cost reduction opportunities and support continuous improvement initiatives. Margin Analysis ... Inventory Management & Controls • Oversee inventory valuation, including raw materials, work-in ...

As a Sourcing Manager, you will play a pivotal role in strengthening Xylem's supply base ... Lead cost reduction initiatives through value engineering, volume leverage, and alternative ...

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Cost Reduction Manager information

See Chicago, IL salary details

$40.2K

$110.2K

$151.4K

How much do cost reduction manager jobs pay per year?

As of Aug 28, 2026, the average yearly pay for cost reduction manager in Chicago, IL is $110,233.00, according to ZipRecruiter salary data. Most workers in this role earn between $94,300.00 and $125,200.00 per year, depending on experience, location, and employer.

What does a cost reduction manager do?

A Cost Reduction Manager is responsible for identifying and implementing strategies to reduce expenses and improve efficiency within an organization. They analyze financial data, review operational processes, and collaborate with various departments to find cost-saving opportunities without compromising quality or productivity. Their goal is to help the company achieve financial targets by optimizing resources, renegotiating contracts, and streamlining operations. They also monitor the results of cost-saving initiatives and report on their effectiveness to senior management.

What skills and qualifications are needed to be a cost reduction manager?

To excel as a Cost Reduction Manager, you need strong analytical skills, financial acumen, and experience in process improvement, often supported by a degree in finance, business, or engineering. Familiarity with cost analysis software, ERP systems, and certifications like Six Sigma or Lean Management are highly valuable. Excellent communication, problem-solving abilities, and stakeholder management skills help drive cost-saving initiatives and foster cross-departmental collaboration. These capabilities are crucial for identifying savings opportunities, implementing effective strategies, and ensuring the organization's financial health.

How does a cost reduction manager collaborate with different departments to achieve savings goals?

A Cost Reduction Manager works closely with departments such as procurement, operations, finance, and supply chain to identify cost-saving opportunities and implement efficiency measures. They often lead cross-functional teams to analyze spending patterns, negotiate with vendors, and streamline processes. Regular meetings, data sharing, and clear communication are crucial for aligning departmental goals and ensuring that cost reduction initiatives do not negatively impact product quality or customer satisfaction. This collaborative approach not only drives savings but also fosters a culture of continuous improvement across the organization.

What is the role of a cost reduction manager?

A cost reduction manager is responsible for analyzing company expenses and identifying opportunities to decrease costs without compromising quality or operations. They develop strategies, implement process improvements, and monitor financial performance to achieve cost savings, often using tools like data analysis and budgeting software.

What are popular job titles related to Cost Reduction Manager jobs in Chicago, IL?

For Cost Reduction Manager jobs in Chicago, IL, the most frequently searched job titles are:

Cost Accountant

Gotion, Inc.

Manteno, IL • On-site

$65K - $86K/yr

Full-time

Re-posted 7 days ago


Job description

Summary:

We are seeking a highly motivated and analytical Cost Accountant to join our team at Gotion Inc's Illinois Manufacturing plant in Manteno, IL. The ideal candidate will have experience in analyzing manufacturing costs, preparing financial reports, and developing cost reduction strategies. Proficiency in Chinese is a plus.

Responsibilities:

  • Analyze manufacturing costs and identify areas for improvement
  • Prepare and present financial reports to senior management
  • Develop and implement cost reduction strategies
  • Track and monitor variances between actual and budgeted costs
  • Maintain accurate records of all cost accounting transactions
  • Work closely with the Cost Accounting Manager to ensure compliance with all accounting policies and procedures

Qualifications:

  • Bachelor's degree in accounting, finance, or a related field
  • 3+ years of experience in cost accounting
  • Experience with manufacturing cost accounting principles and methodologies
  • Strong analytical and problem-solving skills
  • Excellent attention to detail and strong organizational skills
  • Ability to work independently and as part of a team
  • Proficient in Microsoft Office Suite

Nice to Have:

  • Experience with ERP systems such as SAP or Oracle ERP
The U.S. base salary range for this full-time position is $80k -$100k, plus eligibility for bonus and benefits. Our salary ranges are determined by factors such as the role, level, and geographic location. The range listed in the job posting represents the minimum and maximum target salaries for this position across all U.S. locations. Actual compensation within the range will be influenced by the specific work location, along with factors such as job-related skills, experience, and relevant education or training. Your recruiter will provide more details about the specific salary range for your preferred location during the hiring process. Please note that the listed compensation reflects the base salary only and does not include bonus or benefits.