cost engineer

Job Description

Position Purpose:

A Cost Engineer will support Woodward, Inc. with the cost impact and direction of existing and new product designs, as well as, any design proposal or change made to existing product(s). The individual will bring a wealth of manufacturing process and design knowledge to be able to influence the design of a product based on the cost analysis. This role will support the basis of developing the cost objectives and financial viability for new products as well as coordinating the development of product cost data with the various financial functions within the organization. The individual will be a resource for cost information for the entire organization (upper management, sourcing, marketing, sales, engineering, financial, manufacturing, etc). This position requires a low level of supervision.

Essential Functions:

- Interfaces with engineering, purchasing, manufacturing, and assembly and test to understand and communicate design to cost bill of material structure, cost requirements, and actions to be addressed by the project team.
- Performs cost analysis (aPriori) to identify potential cost reductions and recommend changes.
- Participates as a project team member in meetings and reviews, including PLC Gate meetings.
- Performs other product cost analysis and provides guidance as required.
- Provides Sourcing/Engineering/Manufacturing with Project/Product cost data as requested.
- Collaborates with designers and manufacturers to achieve desired cost objectives.
- Participates in cost reduction programs as required.
- Routinely updates management on status of projects.
- Supports company wide Should Cost modeling program implementation.

Other Essential Functions:

- Provides direction and opportunities to manage, reduce, or control product costs based on data analysis, manufacturing, and process knowledge.
- Participates and supports the development and execution of One Woodward processes and procedures, and Continuous Improvement (CI) activities as required.
- Works to create and enhance costing and analysis tools and documentation guidelines to improve processes.
- Actively drive lean projects utilizing Six Sigma and lean tools.
- Provide DTC/CTC or other product cost related training to other Woodward members.

Knowledge Skills & Abilities:

- Ability to read and understand engineering drawings and Bills of Material (BOM). Good understanding of manufacturing processes
- Basic use of DFSS tools and methodologies; Basic knowledge of engineering quality systems (PLC, engineering change, configuration management)
- Ability to compile and analyze multiple sources of data and identify relevant data so that a single best course of action can be taken
- General knowledge of cost accounting practices and reporting systems
- Basic project management skills
- Good written and verbal communication skills. Ability to communicate effectively across all levels of the organization and excels in communicating with individuals and groups
- Builds and maintains effective working relationships with internal and external stakeholders
- Ability to step up to conflicts and seeing them as opportunities, while keeping an eye on overall objectives
- Ability to effectively determine product target cost projections through data mining and the application of solid judgment
- Solid PC skills including proficiency in MS Office, advanced knowledge using Excel. General knowledge and comfortable working with ERP systems
- Demonstrates accuracy, thoroughness and organizational skill in performing work assignments
- Capable of organizing and prioritizing multiple tasks
- Basic understanding and experience with supplier negotiations
- Able to read and understand blueprints, Engineering documentation, and Geometric Dimensioning & Tolerancing, etc.
- Working knowledge of Casting/Forging and Machining operations

Education:

- Bachelor of Engineering (Mechanical)

Experience:

- Experience in a related field (Manufacturing, Manufacturing Engineering, Purchasing, Engineering)

License & Certifications:

- Continuous Improvement certification (Lean, Green Belt, Black Belt, etc.)

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