About The Role
We are seeking a Product Cost Leader to drive cost optimization efforts across our product portfolio. This role is integral to ensuring our products are competitively priced, without compromising on quality or performance. As the Product Cost Leader, you will collaborate with cross-functional teams, including Product Management, Engineering, Procurement, Manufacturing, Supply chain and Finance, to analyze product costs, identify cost-saving opportunities, and lead cost-reduction initiatives throughout the product lifecycle.
Key Responsibilities
- Cost Strategy Development: Develop and implement cost strategies for new and existing products, aligning with the company's financial and operational goals.
- Cost Analysis: Lead detailed cost breakdown analysis of products, including materials, labor, overhead, logistics, and more.
- Collaboration with Engineering & Design: Work closely with product development and engineering teams to understand design constraints / Change Poaints and ensure cost-effective solutions are integrated during the design phase.
- Supplier Management: Collaborate with procurement teams to negotiate with suppliers, explore alternative materials, and optimize the supply chain (Make or Buy) for cost reduction without sacrificing quality.
- Benchmarking & Market Analysis: Conduct competitive benchmarking and market analysis to identify industry best practices in cost management and ensure product competitiveness.
- Cost Reduction Initiatives: Enable continuous cost-improvement initiatives, including VAVE with Design, Procurement CI and Manufacturing CI through respective teams.
- Forecasting & Reporting: Provide regular reports on product cost performance, variance analysis against the standard cost, and forecast cost trends. Ensure alignment with financial targets and budgets.
- Cross-functional Leadership: Serve as a liaison between cross functional teams to ensure alignment on cost goals and initiatives.
- Risk Management: Identify risks related to product costs, supply chain volatility, and price fluctuations. Develop mitigation strategies accordingly.
Qualifications
Education: Bachelor's degree in Finance, Engineering, Business, Supply Chain, or related field. MBA or a relevant advanced degree is a plus.
Experience
- 5+ years of experience in product cost management, supply chain management, product development, or a related field.
- Proven track record of driving cost-reduction strategies in a manufacturing or technology-based industry.
- Experience in cost modeling, analysis, and reporting.
Skills
- Strong analytical skills with attention to detail in cost analysis and forecasting.
- Proficient in financial analysis, costing software, and ERP systems.
- Excellent communication and negotiation skills to work with cross-functional teams and suppliers.
- Strong problem-solving ability and strategic thinking.
- Familiarity with lean manufacturing principles, value engineering, and cost estimation techniques.
Preferred Attributes
- Ability to thrive in a fast-paced, collaborative environment.
- Strong leadership skills with the ability to influence and drive change across functions.
- Experience with global supply chains and cost management in international markets.
