Product Cost Analyst

6 days ago

West Union, South Carolina, United States Itron Full time
Job Summary

We are seeking a highly skilled Cost Optimization Specialist to join our team at Itron. As a key member of our organization, you will play a critical role in analyzing and optimizing product costs, leading cross-functional teams, and collaborating with suppliers and manufacturing partners to implement cost reductions.

Key Responsibilities
  • Work closely with manufacturing leads, 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.
Requirements
  • 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 Qualifications
  • 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.

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