What are the responsibilities and job description for the Product Cost Engineer position at Raya Workforce?
Overview: A leading company in the engineering and product management space is seeking a skilled Cost Engineer to work closely with the Vice President of Engineering and Product Management. The ideal candidate will play a critical role in meeting cost targets for new products and driving cost improvements on current products. This position involves deep collaboration with various departments, including Engineering, Purchasing/Material Management, Quality, Accounting, and external vendors to ensure cost optimization across the board.
Key Responsibilities:
- Monitor and track cost improvements and savings, delivering monthly reports and annual cost summaries.
- Collaborate with the Quality team on DMRs (Defective Material Reports), RMAs (Return Material Authorizations), and other cost of quality-related issues.
- Work closely with Engineering and Purchasing to identify and manage critical vendors in the supply chain.
- Demonstrate the ability to search for and identify potential second-source suppliers globally.
- Apply technical knowledge to evaluate electrical component datasheets and recommend alternative parts when needed.
- Manage actions related to end-of-life components and product change notices from vendors/distributors.
- Collaborate with engineering, purchasing, finance, design, and plant operations to develop cost models, estimates, targets, and conduct make/buy analyses and ad hoc analyses as required.
- Foster close interaction with electrical design engineers, software engineers, mechanical engineers, and related procurement buyers to optimize cost structures.
Qualifications:
- Proven experience in cost analysis, with a focus on engineering and product management environments.
- Strong understanding of supply chain management and vendor sourcing strategies, particularly in the context of electrical components.
- Technical proficiency in interpreting electrical component datasheets and identifying alternative parts.
- Ability to collaborate with cross-functional teams, including engineering, procurement, quality, and finance departments.
- Excellent problem-solving skills and attention to detail.
- Experience in managing product end-of-life and vendor/distributor communications.
Work Conditions:
- Full-time, salary-exempt position.
- On-site presence required, no remote work.
- Work hours: Monday to Friday, 8 AM – 5 PM.
