Cost Engineer II - The Toro Company

The Toro Company•Bloomington, MN

1d•Hybrid

About The Position

The Toro Company is seeking a Cost Engineer II to support the business by developing, analyzing, and documenting product cost estimates, budgeting, planning, and monitoring key investments. This role actively participates in new product development (NPD), design and cost improvement (DCI), maintenance, make vs. buy, and other special projects aimed at optimizing the balance between cost, quality, and time requirements. The Toro Company, founded in 1914 and based in Minnesota, is a global leader in providing world-class equipment for landscape maintenance, with a strong emphasis on community involvement and employee career development.

Requirements

Degree (B.A. or B.S.) in engineering/industrial technology discipline, finance, or a related field.
Minimum of 3+ years of experience in costing future product, product development, or cost-related positions.
Ability to manage multiple projects.
Ability to read, comprehend and apply engineering specifications and blueprints.
Understanding of manufacturing processes, bills of materials, product structures.
Understanding of value engineering and DFMA principals.
Demonstrates analytical and problem-solving skills.
Curious learner, self-starter with a continuous improvement mindset.
Makes recommendations to streamline and improve processes.
Strong written, verbal and interpersonal communication skills to team and able to influence leaders.
Intermediate Excel skills with knowledge of Outlook, PowerPoint and Word.
Ability to work successfully in a fast-paced dynamic organization with changing needs.

Nice To Haves

Advanced degrees preferred.
SAP Experience
Strong project management background
Hands-on experience with DFMA and value engineering
Cross-functional influence and business impact mindset

Responsibilities

Offers sound cost information and options when design choices are being made, including value engineering, design for manufacture and assembly (DFMA), in-house and supplier capabilities, materials utilization, and design alternatives for value optimization.
Manages product cost to target on projects with moderate complexity.
Sets the future cost estimate of the item when production is estimated to begin, which will be used by the enterprise for ROI calculations and decision making.
Prepares supporting documentation (cost estimates) for project milestone review.
Provides analyzed cost data to Division Engineering, Plant Engineering/Operations, Marketing, and Finance for use in determining project direction, product pricing, parts pricing, budgeting, and internal rate of return investment calculations for new and current products.
Coordinates regular interaction with suppliers, strategic sourcing, advanced manufacturing engineers, manufacturing engineers, industrial engineers, design engineers, and other resources to retain leading-edge knowledge of processes available to The Toro Company.
Provides leadership and guidance in the area of cost avoidance, cost reduction, and standardization.
Provides cost estimating and pricing proposal development, with an understanding of the cost estimating model and knowledge in development of product, labor, freight, and assembly rates and their interconnectedness.
Administers product costing models and standardized costing procedures.
Perform other duties as assigned.