Cost Engineer (Level DOE)

Job Information

Position Summary

In this role you will work with and support product engineering, procurement, operations and finance to minimize product cost while meeting market requirements. To accomplish this, you will:

• Work with suppliers for collaborative cost model development and implementation.
• Develop internal manufacturing cost models and benchmark vs supplier cost structure.
• Use developed cost models to proactively manage cost - current production savings / future product cost targets / engineering changes / price increase requests.
• Understand manufacturing processes and related CapEx, tooling, labor, raw material costs and other inputs needed to manufacture components that drive cost.
• In collaboration with various teams help drive/implement savings productivity and drive out inefficiencies both internally and externally.
• Ensure cost down projects have resources appropriately allocated and meeting timelines set forth; identify trends in current costing to help inform current and future design decisions.
• Will be a lead individual within the VIP team and help support/mentor cost engineers within the VIP team.

This cost engineer must be comfortable working in a cross functional global environment. This role reports to the global procurement organization but has stakeholders in the product engineering, operations and finance functions.

Role & Responsibility

Cost Management

• Assist Cost Engineering team and support the following:
  • Model development including enterprise cost models and open book collaborative cost models.
  • Perform comprehensive cost model testing prior to launch.
  • Serve as a trusted advisor to in support of:
    • Engineering new product development, benchmarking, cost driver & VAVE.
    • Purchasing global sourcing impact, price adjustment & negotiation support.
    • Operations process labor / automation tradeoffs & make vs buy support.
    • Finance cost standard feedback.
  • Identify waste reduction/inefficiencies.

Governance & Program Excellence

• Work with purchasing to develop, launch, and manage a cost modeling program globally. The components of the plan include the following:
  • Communicate the benefits of cost engineering to stakeholders.
  • Disseminate program within purchasing and supply base
  • Establish spend to be analyzed.
  • Establish process and documentation to drive implementation into purchasing practices.

Value Innovation & Partnership (VIP) Program Performance

• Monitor performance in assigned area/suppliers and gap analysis to target performance.

Job Requirement

• Education: Bachelor's Degree in engineering, industrial management, accounting, finance, business or related field.
• Master’s Degree in engineering or MBA is a plus.
• Experience Required: 3+  years of cost/pricing experience.
• Experience in finance, supply chain management or commodity management.
• Experience in machining & fabrication processes is a plus.
• CPSM preferred.
• Technical understanding of tooling and manufacturing processes.
• Experience with mechanical engineering concepts related to commodity/products and ability to generate bottom-up should costs based on understanding of manufacturing process.
• Experience with Lean Six Sigma and continuous improvement preferred. Green belt or black belt a plus.
• Proficient knowledge of technical requirements and design of the product and be able to influence cross functional partners with detailed analysis that supports optimized pricing and product sourcing decisions.
• Excellent negotiator, collaborator and communicator.
• Travel Required: 10-25%