The Product Cost Engineer I partners closely with Engineering, Manufacturing, Supply Chain, and Finance to develop accurate, data-driven product cost models and drive cost reduction across the product lifecycle. This role owns costed Bills of Material (BOMs) and routings, performs should-cost and variance analyses, and supports design-to-cost, sourcing, and continuous improvement initiatives. By providing cost transparency and structured analysis, the Product Cost Engineer I enables fact-based decision-making across product development, operations, and procurement.

• Develop, validate, and maintain detailed product cost models that include material, labor, overhead, scrap and yield, freight, tooling, and external services.
• Create and maintain accurate costed Bills of Material (BOMs) and manufacturing routings, ensuring alignment and consistency with ERP/MRP master data.
• Perform bottoms-up and should-cost analyses for new designs, supplier quotations, and make-versus-buy decisions to support sourcing strategies.
• Evaluate alternative design and manufacturing scenarios to identify and recommend the most cost-effective solutions.
• Identify key cost drivers and partner with Engineering and Manufacturing to recommend design or process improvements that reduce cost without compromising quality.
• Support value engineering and continuous improvement initiatives by providing structured cost breakdowns and analysis.
• Track cost savings projects, document assumptions, and report realized results in a clear and traceable manner.
• Analyze cost variances, including purchase price variance, material usage, labor efficiency, and overhead absorption, to understand performance against standards.
• Partner with Operations and Supply Chain to identify root causes of cost variances and implement corrective actions.
• Provide reporting and analysis to support informed decision-making at multiple organizational levels.
• Provide costing support for requests for quotation (RFQs), New Product Introduction (NPI), and Engineering Change Orders (ECO/ECN).
• Assess tooling and capital expenditure impacts associated with product and process changes.
• Ensure costing assumptions are fully documented, traceable, and audit-ready.
• Collaborate with Supply Chain on supplier negotiations using fact-based cost breakdowns and should-cost analysis.
• Validate internal and supplier lead times to ensure ERP accuracy and reliable planning.
• Support the development, standardization, and continuous improvement of costing methodologies and organizational controls.
• Improve ERP data integrity related to costed BOMs, routings, and planning parameters.
• Partner across Engineering, Manufacturing, Procurement, and Finance to improve overall operational effectiveness and cost performance.
• Participate in design reviews, cost estimates, and cost control activities to support product development and operational decisions.

• Bachelor’s degree in engineering (Mechanical, Industrial, Manufacturing, or related field) or equivalent experience.
• At least 2 years of experience in cost engineering, product costing, manufacturing engineering, or related roles in a manufacturing environment.
• Working knowledge of manufacturing processes such as machining, welding and fabrication, casting and forging, and assembly.
• Strong analytical skills with the ability to build, interpret, and clearly communicate cost models using Excel.
• Experience with ERP systems (such as SAP, Oracle, Dynamics, or similar) and familiarity with costed BOM and routing structures.
• Ability to perform cost analysis, cost estimation, and cost control in a manufacturing context.
• Mechanical engineering knowledge relevant to product and process understanding.
• Experience with assembly and welding processes in a manufacturing environment.
• Strong written and verbal communication skills appropriate for all levels of the organization.

• Experience with should-cost tools, labor standards, or time studies.
• Familiarity with standard costing and variance analysis methodologies.
• Experience supporting quoting processes, New Product Introduction (NPI) workflows, and change control processes such as ECO/ECN.
• Basic understanding of finance concepts including margin, absorption, and inventory valuation.
• Experience with Power BI or similar reporting and business intelligence tools.
• Experience with aPriori software for product cost analysis is highly desirable.
• Ability to collaborate effectively in cross