Sr. Cost Engineer

Come join us•Van Nuys, CA

About The Position

The Senior Cost Engineer evaluates product designs, materials, manufacturing processes, and supplier quotations to develop accurate product cost estimates and identify opportunities to improve production and cost efficiency. The role prepares and maintains internal cost estimates throughout product development and commercialization, reviews cost breakdowns, validates materials and labor assumptions, analyzes factory and supplier quotations, monitors cost trends, and recommends actions to support product development, margin, and budget objectives. The Senior Cost Engineer partners with Product Development & Design, Marketing, Finance, and Sourcing to assess cost implications, support cost-reduction initiatives, and ensure products meet established cost and margin expectations. The role also mentors junior cost team members. It provides cost analysis and recommendations to Sourcing and other cross-functional teams but is not responsible for supplier selection, purchase orders, or procurement activities.

Requirements

Bachelor’s degree in Industrial Engineering, Manufacturing Engineering, Mathematics, Economics, Finance, Supply Chain, or a related field; equivalent experience may be considered.
5 to 7 years of experience in cost engineering, cost analysis, cost estimation, product costing, manufacturing, or a related field.
At least 5 years of cumulative experience in one or more of product cost estimation, cost modeling, cost-benefit analysis, manufacturing cost analysis, or value engineering.
Experience reviewing product designs, bills of materials, materials, labor, tooling, packaging, manufacturing processes, and supplier or factory quotations.
Strong understanding of product cost drivers, manufacturing processes, margin calculations, and cost-estimation principles.
Strong quantitative, analytical, problem-solving, and organizational skills.
Proficiency with Microsoft Office applications, particularly Excel, Word, PowerPoint, and Outlook.
Ability to interpret data quickly, identify potential cost issues, and communicate findings and recommendations clearly.
Strong written and verbal communication skills and ability to work effectively with technical and non-technical stakeholders.
Ability to manage multiple projects and priorities in a fast-paced, cross-functional environment.

Responsibilities

Review product cost breakdowns and confirm the accuracy and reasonableness of materials, quantities, unit costs, labor rates, tooling, packaging, and other cost components.
Develop and maintain internal product cost estimates throughout product development and commercialization.
Evaluate product designs, materials, specifications, and manufacturing processes to identify cost drivers and opportunities to improve cost efficiency and manufacturability.
Analyze factory and supplier quotations for inaccurate, incomplete, or unreasonable cost assumptions and communicate findings to appropriate internal teams.
Perform cost comparisons, cost-benefit analyses, and other financial evaluations to support product and development decisions.
Prepare and present product cost analyses, financial summaries, margin estimates, and cost recommendations to management and cross-functional development teams.
Advise Marketing and Product Development & Design on target costs, margin expectations, design alternatives, and potential cost implications.
Monitor material, labor, packaging, tooling, manufacturing, and other relevant cost trends; maintain current commodity and cost information for estimates and financial analysis.
Manage costing requirements and cost budgets for assigned product development projects.
Track project costs against approved targets and communicate potential cost risks, variances, and budget concerns.
Keep management and the development team informed of significant cost issues, changes, or developments during product development and quoting.
Evaluate cost data and identify potential issues requiring additional review, analysis, or escalation.
Support cost-reduction and value-engineering initiatives by identifying opportunities to improve product costs, materials, specifications, or manufacturing processes.
Lead or support the annual cost adjustment process and assess its potential impact on product margins and financial plans.
Develop, maintain, and improve costing tools, templates, processes, and reporting.
Partner with Sourcing and other cross-functional teams by providing cost analysis and recommendations; the role does not handle supplier selection, purchase orders, or procurement activities.
Mentor and support junior cost team members to promote accurate and consistent costing practices.
Perform other duties as assigned.