Cost Engineer

2 weeks ago

West Union, United States Itron, Inc. Full time

Itron is revolutionizing how utilities and cities manage energy and water. We are committed to creating a more sustainable, resourceful world. Join us.

Job Family Summary

Analyzes and optimizes product costs through detailed cost studies and evaluations. Conducts feasibility assessments and cost modeling for new and existing products. Leads cross-functional teams in executing cost-saving initiatives and collaborates with suppliers and manufacturing partners to implement cost reductions. Provides cost analysis data and recommendations to management and supports documentation for cost-related projects.

Level Summary

A proficient cost analyst who applies professional principles and company policies to assess and optimize product costs. Effectively communicates findings and recommendations to cross-functional teams and management. Works collaboratively on projects that require a comprehensive analysis of cost factors and their impact on overall business objectives. Maintains strong internal relationships across departments to drive cost reduction initiatives. Operates with general guidance on standard tasks and receives detailed instructions on complex or new projects.

Roles & Responsibilities

  • Work alongside manufacturing leads as well as product managers, finance, procurement, R&D, and PMO to evaluate, scope, and calculate existing product costs within established pricing and cost guidelines.

  • Ensure that timelines, cost, and quality expectations are met, inclusive of all necessary documentation.

  • Lead Global Operations make vs. buy analyses, decisions, and existing product cost studies.

  • Lead EMS cost savings contractual project execution with suppliers, manufacturing, and procurement.

  • Participate on cross-functional teams that help increase production and reduce costs.

  • Develop costing models that identify and drive improved cost projections and accuracy.

  • Work with multifunctional teams on cost savings projects.

  • Update and modify parts, evaluate vendors, and reduce costs for existing products after launch.

  • Participate in root cause investigations, corrective actions, process improvements, product testing and qualification, and product improvement initiatives.

  • Work with all functions to identify cost reduction projects. Use Lean tools to identify and implement these savings. Work with the NPI multi-functional team to implement identified cost savings into new products.

  • Create a closed-loop system to implement factory improvements into existing products to realize desired cost savings and efficiencies.

  • Collaborate with other engineering stakeholders and customers on problem-solving and continuous improvement of equipment and product designs, and may develop corrective and preventive action plans.

Required Skills and Experience

  • Proven experience in cost analysis, product costing, and cost reduction initiatives.

  • Strong knowledge of Lean tools and methodologies.

  • Experience working with cross-functional teams, including manufacturing, procurement, and R&D.

  • Ability to lead make vs. buy analyses and execute cost savings projects.

  • Strong problem-solving skills and experience with root cause investigations and corrective actions.

  • Proficiency in developing and managing costing models to improve cost projections and accuracy.

  • Ability to manage project timelines, costs, and quality expectations effectively.

Preferred Skills and Experience

  • Experience in EMS (Electronics Manufacturing Services) cost savings and contractual project execution.

  • Familiarity with New Product Introduction (NPI) processes and integrating cost savings into new products.

  • Experience in vendor evaluation and post-launch cost reduction.

  • Strong communication and collaboration skills, with experience in working closely with various stakeholders such as product managers, finance, and procurement.

  • Knowledge of continuous improvement practices and the ability to implement factory improvements to realize cost savings.

Education

B.S. or M.S. with 7+ years of industry experience, having a primary background in electrical, mechanical or industrial engineering.

Physical Demands

This is a typical office job, with no special physical requirements or unusual work environment.

#LI-ZN1

Itron is committed to building an inclusive and diverse workforce and providing an authentic workplace experience for all employees. If you are excited about this role but your past experiences don‘t perfectly align with every requirement, we encourage you to apply anyway. In the end, you may be just who we are looking for

The successful candidate‘s starting salary will be determined based on permissible, non-discriminatory factors such as skills and experience.

Itron is proud to be an Equal Opportunity, Affirmative Action Employer. If you require an accommodation to apply, please contact a recruiting representative at or email .

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions. We provide smart networks, software, services, meters, and sensors to better manage electricity, gas, water and city services. We are dedicated to creating a more resourceful world.

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