Cost Engineer

Fast Switch; Michigan; On-site; USD 80,000 - 130,000; Full time

Benefits offered by this job

Medical and Dental

Vision

PTO

Long Term Disability

Life Insurance

401(k) with match

Job summary

FastTek Global in Michigan is seeking a Cost Engineer to partner with Finance and Supply Chain on BOM cost management across vehicle programs, including cost tracking, should-cost analyses, and business cases to hit margin targets.

You will build ground-up cost estimates, collaborate with engineering, procurement, and suppliers, and drive cost reduction initiatives while leveraging Apriori and CAD costing insights. The role offers exposure to leading automotive programs.

Qualifications

• Bachelor's degree in business, finance, or engineering is required.
• Proficiency with cost engineering tools and Excel.
• CAD experience with major systems.
• 1–3+ years of OEM cost experience.

Responsibilities

• Support BOM cost analysis and should-cost estimation.
• Create and validate component material costs and targets.
• Collaborate with engineering, purchasing, and supply chain teams.
• Lead cost modeling and cost reduction initiatives.
• Mentor team on Apriori platform and cost processes.

Skills

Cost estimation

CAD expertise

Excel proficiency

Education

Bachelor's degree in a relevant field

MBA or Master's degree

Tools

Apriori software

CAD software

Job description

Cost Engineer #1063299

Job Description:

Cost Engineering support OEM position will be the Finance / Supply Chain business partner to the development teams for everything Bill of Material cost related - from tracking and reporting the fluctuations, to do should-cost analysis, business cases and material cost reduction. You will be responsible for supporting, measuring and reporting the bill of materials for the vehicle programs to help management understand our costs and targets inside and out, and to meet our margin goals.

The Cost Engineer position will be the Finance / Supply Chain business partner is responsible to create, analyze and validate component material costs and targets. The cost estimator will be responsible for generating ground-up / and detailed material cost estimates that encompass both piece price and tooling estimations. Collaboration with key internal cross functional teams is essential will have a working relationship with the product engineering team, the purchasing and supply chain team, the vehicle program team, our global partners, and to the external component supply base.

This role involves a support level of independence, judgment, initiative, creativity, and the management of multiple estimates that focus specially on identifying accurate cost estimates as well as proposed cost reductions. The cost estimator will have exposure and work with the next generation of leading-edge automotive experts and technologies.

Core Responsibilities

• The Cost Engineering support OEM position will be the Finance / Supply Chain business partner to the development teams for everything Bill of Material cost related - from tracking and reporting the fluctuations, to do should-cost analysis, business cases and material cost reduction. You will be responsible for supporting, measuring and reporting the bill of materials for the vehicle programs to help management understand our costs and targets inside and out, and to meet our margin goals.
• The Cost Engineer position will be the Finance / Supply Chain business partner is responsible to create, analyze and validate component material costs and targets. The cost estimator will be responsible for generating ground-up / and detailed material cost estimates that encompass both piece price and tooling estimations. Collaboration with key internal cross functional teams is essential will have a working relationship with the product engineering team, the purchasing and supply chain team, the vehicle program team, our global partners, and to the external component supply base.
• This role involves a support level of independence, judgment, initiative, creativity, and the management of multiple estimates that focus specially on identifying accurate cost estimates as well as proposed cost reductions. The cost estimator will have exposure and work with the next generation of leading-edge automotive experts and technologies.

Role & Responsibilities:

• Support daily / weekly should cost model updates for Supply Chain, Engineering, Finance, Studio teams.
• Help and prioritize the should cost model targets for Supply Chain team.
• Run high level Cost Model estimating using Apriori software and other costing methods to support fast souring targets.
• Build Core team to support all major components.
• Cost target setting for all major components in vehicle.
• Work with engineering to review CAD models to see cost-saving ideas before sourcing them to suppliers.
• Help with supplier negotiations and cost reviews
• Teach and mentor team members on Apriori platforms
• Interview and hire cost team members
• Build up team to support full EBOM
• Check CAD files for DFM, and feasibility, best materials for cost and performance
• Help Finance set targets in project X to achieve EBOM cost goals

Required Qualifications:

• Bachelor's degree required in a relevant field of study (e.g. business, finance, engineering); MBA and/or master's degree in a relevant field a plus
• Cost Engineering Software expertise
• CAD expertise with all major systems
• Tooling expertise with plastics, metal, castings, sheet metal, HV wiring, Battery packs, etc.
• Minimum of 1-3+ years of experience with an OEM and/or other relevant corporation; experience with a multinational organization preferred.
• Prior working experience in product costing, product development finance and cost reduction efforts are required.
• Exceptional excel skills and proficiency in Microsoft Office suite.
• Strong work ethic, professionalism and flexibility; must possess the ability to adapt to a growing & evolving environment and a dynamic industry.
• Background in automotive and/or technology industries a must
• Strong negotiation skills a plus
• Some travel may be required.
• Manufacturing and launch experience in an automotive setting. (OEM, Tier 1, or Tier 2 environment)
• An in-depth understanding of expected manufacturing technical cost factors such as material, labor, burden (shared and dedicated) along with associated commercial factors such as SG&P, logistics and capital recovery methodologies.

Additional Info:

At FastTek Global, Our Purpose is Our People andOur Planet. We come to work each day and are reminded we are helping people find their success stories. Also, Doing the right thing is our mantra. We act responsibly, give back to the communities we serve and have a little fun along the way.

We have been doing this with pride, dedication and plain, old-fashioned hard work for 24 years! FastTek Global is financially strong, privately held company that is 100% consultant and client focused. We've differentiated ourselves by being fast, flexible, creative andhonest. Throw out everything you've heard, seen, or felt about every other IT Consulting company. We do unique things and we do them for Fortune 10, Fortune 500, and technology start-up companies.

Our benefits are second to none and thanks to our flexible benefit options you can choose the benefits you need or want, options include:

• Medical and Dental (FastTek pays majority of the medical program)
• Vision
• Personal Time Off (PTO) Program
• Long Term Disability (100% paid)
• Life Insurance (100% paid)
• 401(k) with immediate vesting and 3% (of salary) dollar-for-dollar match

Plus, we have a lucrative employee referral program and an employee recognition culture. FastTek Global was named one of the Top Work Places in Michigan by the Detroit Free Press in 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, and 2023!

To view all of our open positions go to: https://www.fasttek.com/fastswitch/findwork
Follow us on Twitter: https://twitter.com/fasttekglobal
Follow us on Instagram: https://www.instagram.com/fasttekglobal
Find us on LinkedIn: https://www.linkedin.com/company/fasttek
You can become a fan of FastTek on Facebook: https://www.facebook.com/fasttekglobal/

AI & Hiring Disclosure

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