Cost Modeling Product Engineering Specialist

Grainger Businesses • Lake Forest, IL

1d • Hybrid

About The Position

The Cost Modeling Product Engineer Specialist evaluates products and develops should‑cost models using an understanding of product materials and manufacturing processes. This role researches manufacturing methods and applies scaling across similar processes and materials to align cost models with comparable items within a product category. Applies analytical insights that support sourcing decisions and supplier negotiations, serving as a technical expert on item level cost models. Contributes to broader analytical workstreams, including commodity association insights, manufacturing process documentation, procurement reviews, and scaling models used by Supplier Management and Global Sourcing to inform cost, risk, and quality decisions. You will report to the Manager, Cost Modeling Engineering. This is a hybrid position that is based onsite in Lake Forest 3 days a week. This position is not eligible for any form of sponsorship now or in the future. Individuals requiring sponsorship (e.g. OPT or H1B visa status) should not apply. Only individuals authorized to work in the United States now and for the foreseeable future will be considered for this position.

Requirements

• Bachelor's Degree in an engineering or related technical discipline required
• 2+ years of relevant work or school experience in industrial or mechanical engineering; new grads welcome!
• Experience with engineering product analysis, cost modeling methodologies, problem solving, technical evaluation, and continuous improvement.
• Experience in analyzing and breaking down complex products, research processes, and communicating technical findings to non-technical audiences.

Responsibilities

• Disassemble finished products to identify components and develop detailed Bills of Materials (BOMs).
• Research cost inputs including raw materials, labor, manufacturing processes, machine utilization, and tooling requirements.
• Develop and update should cost models using internal cost modeling tools to assess sourcing risks including cost drivers, country of origin impacts, and alternative manufacturing scenarios for procurement decision making.
• Support supplier negotiations by providing technical expert input on cost model structure and assumptions.
• Build scalable cost modeling files that translate individual model outputs into category-wide should-cost estimates by applying product attributes, scaling factors, and automated formulas.
• Analyze SKU-level data to perform commodity association work and understand the primary base raw material composition across product categories to inform on risk and opportunity.
• Develop manufacturing process documentation that explains process functionality, application, and cost impact.
• Partner with internal stakeholders to present project outcomes and analyze a product’s cost position
• Maintain the integrity of engineering labs and provide continuous improvement plans for repairs, replacement, or enhancement of laboratory equipment and functional lab spaces.

Benefits

• Medical, dental, vision, and life insurance plans with coverage starting on day one of employment
• 6 free sessions each year with a licensed therapist to support your emotional wellbeing.
• 18 paid time off (PTO) days annually for full-time employees (accrual prorated based on employment start date)
• 6 company holidays per year.
• 6% company contribution to a 401(k) Retirement Savings Plan each pay period, no employee contribution required.
• Employee discounts, tuition reimbursement, student loan refinancing and free access to financial counseling, education, and tools.
• Maternity support programs, nursing benefits, and up to 14 weeks paid leave for birth parents and up to 4 weeks paid leave for non-birth parents.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 1-10 employees