Costing Engineer

Job Summary

We are seeking an experienced Costing Engineer to support product development, manufacturing, procurement, and cost-reduction initiatives. The ideal candidate will have strong experience in manufacturing cost analysis, should-cost modeling, DFM/DFA, VA/VE, and cost estimation for mechanical and electrical components.

You will work closely with Design Engineering, Manufacturing, Procurement, Finance, and other teams to develop cost targets and identify opportunities to optimize product costs.

Key Responsibilities

• Provide costing guidance to Designers and Design Engineers for new and modified product designs to achieve required functionality at minimum cost.

• Apply Design for Manufacturing (DFM) and Design for Assembly (DFA) principles to evaluate proposed designs and recommend cost improvements.

• Partner with Engineering teams on Design-to-Target initiatives during early product development.

• Develop cost targets for mechanical components, including:

  • Castings

  • Stamped parts

  • Extrusions

  • Injection-molded components

• Develop cost targets for electrical components, including:

  • Wire harnesses

  • PCBs and PCB assemblies

  • DC motors

  • Batteries

• Develop should-cost analysis and reports to support Procurement and supplier negotiations.

• Conduct competitive benchmarking and product teardown analysis to develop should-cost models.

• Participate in Value Analysis (VA) and Value Engineering (VE) activities and identify cost-reduction opportunities for existing products.

• Present monthly project cost updates, risks, opportunities, and recommendations to management.

• Serve as a cost-information resource for Engineering, Procurement, Finance, Manufacturing, Marketing, Sales, and senior management.

• Prepare monthly cost reports and track current product costs.

Required Qualifications

• Bachelor's degree in Mechanical, Manufacturing, Industrial, or Electrical Engineering, or equivalent.

• 7–10 years of relevant industry experience.

• Proficiency with BDI (Boothroyd Dewhurst Inc.), aPriori, or similar product-costing software.

• Ability to read and interpret engineering/manufacturing drawings.

• Strong understanding of Bill of Materials (BOM) development and application.

• Practical knowledge of Value Analysis (VA) and Value Engineering (VE) techniques.

• Strong financial and cost-analysis awareness.

• Functional knowledge of 3D CAD software; Creo preferred.

• Proficiency with Microsoft Office applications.

• Ability to travel up to 10%.

Preferred Qualifications

• In-depth knowledge of manufacturing processes and materials, including:

  • Casting

  • Stamping

  • Injection molding

  • Extrusion

  • PCBA

• Lean Six Sigma Green Belt certification is preferred.

• Strong experience developing cost models and identifying manufacturing cost drivers.

Education

Bachelor of Science degree in Mechanical Engineering, Electrical Engineering, Manufacturing Engineering, Industrial Engineering, or an equivalent technical degree.