What are the responsibilities and job description for the Cost Engineer position at Pentangle Tech Services | P5 Group?
Job Description & Skill Requirement
Key Responsibilities:
- 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.
- Diversity of thought and experiences is fundamental when imagining the unimaginable. Certain skillsets/experiences are necessary; however, others can be developed along the way.
Required Qualifications:
- Bachelor’s degree in Mechanical, Manufacturing, Industrial or Electrical Engineering
- 3-5 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.
