Role Overview:

We are seeking an experienced Cost Engineering Lead to drive enterprise-wide cost optimization initiatives through Design-to-Cost (DTC), Should-Cost Modeling, Value Analysis/Value Engineering (VA/VE), and Total Cost of Ownership (TCO) methodologies. The role is responsible for institutionalizing a culture of cost excellence by partnering with Engineering, Procurement, Manufacturing, Supply Chain, and Product teams to identify sustainable cost-saving opportunities while maintaining product quality, performance, and reliability.

Key Responsibilities:

- Lead Design-to-Cost initiatives across new product development and existing product portfolios.

- Establish Design-to-Cost frameworks, governance, and best practices across business units.

- Collaborate with Product Development and Engineering teams to embed cost optimization early in the design lifecycle.

- Drive cost reduction initiatives without compromising product functionality, quality, safety, or customer expectations.

- Develop cost targets and monitor adherence throughout product development.

- Develop detailed should-cost models for mechanical, electrical, electronic, fabricated, machined, cast, forged, injection-molded, and assembled components.

- Estimate manufacturing costs based on material, labor, machine rates, tooling, overheads, logistics, and supplier margins.

- Benchmark supplier quotations against internal cost models.

- Support sourcing teams during negotiations using data-driven cost analysis.

- Validate supplier pricing and identify opportunities for cost reduction.

- Conduct Value Analysis and Value Engineering workshops to optimize product cost.

- Identify alternative materials, manufacturing processes, and component standardization opportunities.

- Evaluate design alternatives to reduce overall product cost.

- Recommend design simplification and part consolidation strategies.

- Partner with R&D and Engineering teams to improve product manufacturability.

- Develop Total Cost of Ownership models considering procurement, manufacturing, transportation, inventory, maintenance, warranty, service, and end-of-life costs.

- Support strategic sourcing decisions using lifecycle cost analysis.

- Evaluate supplier location, logistics impact, and long-term commercial implications.

Cost Driver & Commodity Analysis:

- Analyze steel, aluminum, copper, plastics, electronics, and rare earth materials.

- Monitor raw material indices and market fluctuations to build predictive cost models.

- Recommend sourcing strategies to mitigate commodity risks.

- Benchmark supplier manufacturing capabilities and cost structures.

- Conduct supplier cost breakdown analysis and evaluate process efficiencies.

- Drive supplier-led value engineering initiatives.

- Facilitate cross-functional workshops focused on cost optimization.

Cost Analytics & Reporting:

- Build dashboards and reports to track cost-saving initiatives, product cost trends, commodity movement, supplier cost performance, and value engineering pipeline.

- Present findings and recommendations to senior leadership.

- Measure realized versus planned cost savings.

- Establish enterprise-wide cost engineering standards and methodologies.

- Drive Lean Manufacturing, Six Sigma, and continuous improvement initiatives.

- Mentor junior cost engineers and develop organizational capability in cost engineering.

Required Skills:

- Expertise in Design-to-Cost (DTC), Should-Cost Modeling, Value Analysis/Value Engineering (VA/VE), and Total Cost of Ownership (TCO).

- Strong knowledge of Product Costing, Manufacturing Cost Analysis, and Strategic Sourcing Support.

- Proficiency in Risk Assessment and Commodity Cost Analysis.

Qualifications:

- Bachelor's degree in Mechanical, Industrial, or Manufacturing Engineering.

- Master's degree (MBA/Operations/Supply Chain) preferred.

- Certification in Value Engineering (CVS/AVS) or Lean Six Sigma (Green Belt/Black Belt) is an added advantage.

Experience:

- 12-18 years of experience in Cost Engineering, Product Costing, Strategic Sourcing, Manufacturing Engineering, or Value Engineering.

- Proven expertise in developing should-cost models and driving enterprise-wide cost reduction initiatives.

- Experience working with global suppliers and cross-functional engineering teams.

- Strong understanding of commodity markets, manufacturing processes, and cost optimization techniques.