A Costing Engineer is responsible for developing product cost targets, should-cost models, and cost-reduction strategies for mechanical and electrical components. The role works closely with Engineering, Procurement, Manufacturing, Finance, and suppliers to evaluate manufacturing costs, conduct competitive benchmarking and teardown analysis, and identify opportunities for Value Analysis/Value Engineering (VA/VE). The engineer applies DFM/DFA principles and manufacturing-process knowledge to optimize product designs while maintaining quality, functionality, and profitability.
Bachelor's degree in mechanical, Manufacturing, Industrial or Electrical Engineering.
7-10 years of industry experience.
Proficient in BDI (Boothroyd Dewhurst Inc), A-priori or related costing software.
Ability to read and understand manufacturing drawings.
Working knowledge of a Bill of Material, its development and application.
Practical knowledge of VA/VE techniques and strong financial awareness.
Functional understanding of 3D CAD software (Creo Preferred).
Proficient in Microsoft Office.
Travel up to 10%.
Preferred Qualifications:
In-depth knowledge of Manufacturing processes (Casting, Stamping, Injection molding, extrusion, PCBA) and compatible materials.
Lean Six Sigma Green Belt Preferred.
Qualification:
Bachelor of Science Degree in Mechanical or Electrical Engineering or equivalent degree.
Provide guidance to Designers/Design Engineers for proposed new or modified designs to achieve required function at minimum cost.
Apply design for assembly (DFA) and design for manufacturing (DFM) tools to analyze proposed new designs and propose potential improvements.
Work with engineering on a Design to Target approach in early product development planning.
Develop cost targets for mechanical engine parts (Castings, Stamped parts, Extrusions, and injection molded) based on information ranging from sample parts, CAD models, and engineering drawings.
Develop cost targets for electrical engine parts (Harness, PCB, PCB assemblies, DC motors, Batteries) based on information ranging from schematics, CAD models, and engineering drawings.
Provide should-cost analysis reports to procurement team for supplier negotiation purposes.
Do competitive benchmarking/teardown analysis and develop should-cost models.
Participate in value analysis (VA) and value engineering (VE) activities and generate cost reduction ideas on current production products.
Present project cost updates along with risks and opportunities to higher management on monthly basis.
Be a resource of cost information on assigned projects for the entire organization (upper management, marketing, sales, engineering, financial, manufacturing, etc).
Provide the organization with monthly cost reports and cost tracking of current product.