Senior Product Costing Specialist

About EDGE COMMERCIAL

EDGE Commercial is established to oversee the management of commercial activities across the group, enabling individual entities to concentrate on their core product portfolios. This centralized approach fosters an environment that is conducive to sustainable business growth. Designed to streamline processes and enhance efficiency, EDGE Commercial plays a pivotal role in driving business growth through several key functions:

- Opportunity and Proposal Management

- Engineering Solutions

- Contracting & Project Procurement

- Contracts Management

- Commercial Planning

- International Contracts

- Strategic Program Management

Job Summary

We are seeking a highly analytical and results-oriented Sr Product Costing Specialist to join our team. In this critical role, you will be responsible for identifying, analyzing, and implementing strategies to reduce the cost of our products throughout their lifecycle. You will work closely with various departments, including Engineering Solutions, Commercial Planning, Procurement and Manufacturing Entities to drive cost savings initiatives while maintaining or improving product quality and performance.

Key Responsibilities:

• Cost Analysis and Identification: Conduct thorough cost analysis of existing and new products, including Bill of Materials (BOM), manufacturing processes, and supply chain expenses. Identify key cost drivers and areas for potential optimization.

• Cost Optimization Strategy Development: Develop and propose innovative cost reduction strategies and initiatives, considering various approaches such as design changes, material substitutions, manufacturing process improvements, and supply chain optimization.

• Cross-Functional Collaboration: Partner with Engineering Solutions and Manufacturing Entities to influence design decisions for cost-effectiveness. Collaborate with Procurement to negotiate better material pricing and explore alternative suppliers. Work with Manufacturing team to identify process inefficiencies and implement improvements.

• Cost Modeling and Forecasting: Develop and maintain cost models to accurately estimate product costs and forecast future cost trends. Analyze the impact of proposed changes on product cost and profitability.

Supplier Engagement: Work closely with procurement and suppliers to identify cost-saving opportunities, explore alternative materials or components, and negotiate favorable terms.

PUBLIC

• Value Engineering (VE) / Value Analysis (VA): Participate in Value Engineering/Value Analysis workshops to identify unnecessary costs without sacrificing functionality, quality, or reliability.

• Implementation and Tracking: Develop implementation plans for approved cost reduction initiatives. Track and report on the progress and impact of these initiatives, ensuring they meet cost-saving targets.

• Market and Industry Analysis: Stay informed about market trends, material costs, and industry best practices in cost optimization. Identify potential cost-saving opportunities based on external factor.

• Data Analysis and Reporting: Utilize data analysis tools and techniques to identify cost trends, measure the effectiveness of initiatives, and provide regular reports to management on cost performance.

Risk Assessment: Evaluate potential risks associated with cost reduction initiatives, such as impact on quality, performance, or supply chain stability. Develop mitigation plans as needed.

• Documentation: Maintain accurate documentation of cost analyses, initiatives, and results.

Qualifications:

- Bachelor's / Master’s degree in Engineering (Mechanical, Aeronautical, Electrical, Industrial, etc.),

- Minimum of 10+ years of experience in product cost analysis, cost engineering, value engineering, or a related field within a manufacturing environment, preferably in Defense & Aerospace Industry.

- Proficiency in cost modeling tools.

- Experience implementing Lean Manufacturing or Six Sigma methodologies at an organizational level.

- Proven track record of successfully implementing complex cost reduction initiatives with significant financial impact.

- Strong understanding of manufacturing processes, Bill of Materials (BOM) structures, supply chain dynamics, and financial principles related to product cost.

- Exceptional analytical and problem-solving skills, with the ability to think strategically and make data-driven decisions.

#EDGE COMMERCIAL