Product Cost Specialist

About the Role

We are seeking a highly analytical and detail-oriented Product Cost Manager to join our Engineering organization. In this role, you will partner closely with the Director of Engineering, program managers, supply chain, manufacturing and engineering product teams to develop accurate cost models, evaluate design decisions, forecast project expenses, and drive cost-optimization initiatives across the product lifecycle.

This is a strategic, high-visibility role that helps shape both engineering decisions and company-wide financial outcomes.

Key Responsibilities

Cost Management & Analysis

• Develop and maintain detailed cost models for components, assemblies, and full products.


• Partner with engineering to evaluate design alternatives and quantify cost impact.


• Conduct cost-benefit analyses, scenario modeling, and “should-cost” assessments.


• Track project cost performance and identify variances, risks, and mitigation actions.


• Value Add / Value Engineering facilitation leader

Cross-Functional Collaboration

• Provide cost input during product design reviews, sourcing decisions, and project planning.


• Work closely with supply chain and procurement to validate supplier quotes and negotiate cost targets.


• Support engineering teams with real-time cost insights to guide technical decisions.


• Focus on driving product cost optimization and margin expansion by collaborating closely with manufacturing sites worldwide to implement design-to-cost, sourcing, and product manufacturing cost improvement initiatives.


• Tariff engineering analysis in collaboration with Engineering, Supply Chain, and Compliance to minimize import duties through optimized product design, HTS classification strategies, country-of-origin planning, and component-level configuration decisions.

Reporting & Forecasting

• Prepare periodic cost reports, dashboards, and executive-level summaries.


• Lead cost forecasting for engineering programs, including budget planning and updates.


• Maintain all financial product cost documentation related to engineering development.

Value Engineering & Process Improvement

• Develop and refine cost-tracking tools, templates, and methodologies.


• Drive continuous improvement in cost transparency, accuracy, and timeliness.


• Support value engineering and cost-reduction initiatives across the product line.

Qualifications

Required

• Bachelor’s degree in Engineering, Manufacturing, Supply Chain, or related field.


• 5+ years of experience in cost management, cost engineering, product development, or similar roles.


• Strong financial modeling and data analysis skills (Excel, BI tools, or equivalent).


• Ability to translate engineering data into clear financial insights.


• Excellent communication and presentation skills, with the ability to partner across teams.

Preferred

• Experience in manufacturing, hardware development, or engineering-driven organizations.


• Familiarity with should-cost modeling, BOM analysis, and supplier cost structures.


• Experience in PLM/ERP systems and cost-tracking tool development.