Cost Engineer

FastTek Global; Troy (MI); On-site; USD 85,000 - 130,000; Full time

Job summary

FastTek Global is seeking a Cost Engineer to partner with Finance and Supply Chain to manage Bill of Materials cost for vehicle programs, track fluctuations, and support margin goals.

You will generate ground-up cost estimates, work with engineering, purchasing, and suppliers, and lead cost-reduction initiatives using Apriori and other methods. This role offers exposure to cutting-edge automotive projects.

Qualifications

• Bachelor’s degree in business, finance, or engineering.
• Cost engineering software expertise.
• CAD expertise with major systems.
• Tooling expertise across plastics, metals, castings, sheet metal, HV wiring, and battery packs.
• 1–3+ years of OEM or multinational experience preferred.
• Strong Excel and Microsoft Office skills.
• Ability to adapt in a dynamic automotive environment.

Responsibilities

• Support daily/weekly should-cost model updates for multiple teams.
• Prioritize should-cost targets for Supply Chain.
• Run high-level Cost Model estimating using Apriori and costing methods.
• Build Core team to support major components.
• Set cost targets for all major vehicle components.
• Review CAD models with engineering for cost-saving ideas.
• Assist supplier negotiations and cost reviews.
• Mentor team members on Apriori platforms.
• Interview and hire cost team members.
• Develop team to support full EBOM.
• Check CAD files for DFM and feasibility for cost/performance.
• Assist Finance set targets to achieve EBOM cost goals.

Skills

Cost Engineering

CAD expertise

Tooling expertise

Excel skills

Education

Bachelor’s degree in business/engineering/finance

Tools

Apriori costing software

Job description

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.