The Cost Engineer will develop cost estimates during the quoting process for new products and maintain accurate standard costs for existing products. This role involves collecting, analyzing, and interpreting data related to materials, labor, tooling, and equipment to ensure accurate cost forecasting. The Cost Engineer will collaborate with cross-functional teams to optimize costs, improve efficiency, and support strategic decision-making for both new and legacy products.
Essential Responsibilities
· Utilize cost methodologies and tools to prepare and maintain reliable and accurate cost data.
· Identify and quantify potential cost uncertainties to ensure costing models capture the full range of risks.
· Establish cost estimates for production processes and tooling; review alternatives and recommend improvements.
· Track actual costs against estimates and report regularly to ensure alignment with forecasts.
· Investigate and identify cost reduction opportunities through detailed cost analysis.
· Contribute to cost monitoring and reporting systems; analyze cost trends and variances.
· Review monthly manufacturing variance reports to analyze deviations and adjust costs as needed.
· Coordinate with project management, engineering, procurement, and other stakeholders to ensure cost objectives are met.
· Analyze technical documents, blueprints, and vendor quotations to develop detailed cost estimates.
· Identify and mitigate potential project risks and their cost impact.
· Develop and implement cost optimization strategies and continuous improvement initiatives.
· Collaborate with sales, operations, and procurement teams to align financial and project objectives.
· Analyze and improve production efficiency through process evaluation and redesign.
· Design systems that integrate workers, materials, and machines to streamline operations.
· Lead and manage projects focused on process improvement and efficiency (Lean methodologies preferred).
· Use statistical tools and software to analyze production data, forecast trends, and support data-driven decisions.
· Support operations and customer initiatives through special projects as assigned.
Education & Experience
· Bachelor’s degree in manufacturing, Mechanical, Industrial Engineering, or related discipline (or equivalent experience).
· 5–7 years of related experience in cost engineering, estimating, or manufacturing operations.
· Knowledge of metal stamping, heat treating, plating, welding, mechanical assembly, and CNC machining preferred.
· Proficiency in ERP systems (Syteline or similar), Microsoft Excel, SolidWorks, Outlook, and MS Project.
· Strong analytical, organizational, and problem-solving skills.
· Excellent written and verbal communication abilities.
· Self-motivated, detail-oriented, and able to manage multiple priorities under tight deadlines.
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