Cost Engineer Sr

Job Information

As a Cost Engineer Sr, 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.

The Cost Engineer Sr 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 (preferred)
• 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 preferred.
• 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
• Experience Required: 5+  years of cost/pricing experience
• Experience in Finance, Supply chain management or commodity management a plus
• Travel Required: 10-25%