Position Summary:

The Senior Procurement Cost Engineer independently develops global should-cost estimates for materials, components, assemblies and finished products using cost estimating tools. The role supports sourcing decisions, supplier negotiations, design reviews, and cost reduction initiatives by analyzing manufacturing processes, market conditions, and cost drivers while partnering with Category Management/Procurement and Engineering and serving as a resource on cost engineering methodologies and cost optimization opportunities.

Key Responsibilities:

1.Independently develop global cost estimates by either creating should-cost models or utilizing the company's cost estimating tool to evaluate materials, components, assemblies, and finished products across regions.

2.Analyze cost drivers including raw materials, labor, manufacturing processes, tooling, logistics, tariffs, and regional factors to determine expected supplier costs.

3.Support strategic sourcing by providing cost insights during RFQs, supplier selection, negotiations, and sourcing events.

4.Validate supplier pricing through comparison of supplier quotations against should-cost models, identifying variances and providing negotiation support to Category Management and Procurement strategies.

5.Independently maintain cost models and databases by updating estimating tool inputs, labor rates, material indices, commodity data, and cost assumptions.

6.Support Category Management, Procurement and Engineering by participating in design reviews and identifying cost reduction opportunities through value analysis/value engineering (VA/VE), process improvements, material substitutions, localization initiatives, and design optimization recommendations.

7.Monitor market trends including commodity prices, freight costs, inflation, exchange rates, and other factors affecting product costs and sourcing strategies

8.Develop and deliver cost analyses, reporting, market trend insights, and standardization opportunities that support Category Management strategies, sourcing decisions, and savings initiatives.

Experience:

1.5-7 years of experience in cost engineering, product costing, procurement, sourcing, manufacturing, or a related analytical role.

2.Experience developing should-cost models and performing cost analyses.

3.Experience supporting supplier negotiations, RFQs, sourcing decisions, and cost reduction initiatives.

Knowledge, skills and abilities:

1.Proficiency with cost estimating tools and cost modeling methodologies.

2.Knowledge of manufacturing processes and key cost drivers, including materials, labor, tooling, logistics, and regional cost factors.

3.Familiarity with VA/VE, standardization, and continuous improvement practices.

4.Understanding of global supply chains, commodity markets, and market trends.

5.Strong analytical, problem-solving & communication skills.

6.Advanced Excel and data analysis skills.