Product Cost Engineer

Product Cost Engineer

Greensboro, NC

Pay: $50.00 per hour

26-03624

Job Summary

The Product Cost Engineer partners with cross-functional teams to drive product cost management across the full product lifecycle. This role blends engineering insight with financial analysis to influence design decisions, optimize cost structures, and enhance overall product value and competitiveness. The position plays a key role in ensuring alignment with cost targets while balancing quality, delivery, features, and sustainability.

Job Responsibilities

• Develop and deliver product cost forecasts and detailed cost analyses, identifying risks and opportunities in early-stage and ongoing projects
• Drive product cost management throughout the product lifecycle, ensuring alignment with strategic cost targets
• Break down overall cost targets into system- and component-level cost requirements
• Lead design-to-cost initiatives to enable cost-efficient product solutions
• Collaborate with engineering, purchasing, product planning, and finance teams to balance QDCF-S (Quality, Delivery, Cost, Features, Sustainability)
• Act as the customer advocate in evaluating cost, feature, and value trade-offs
• Build, maintain, and enhance cost models using financial tools and processes to support decision-making
• Drive innovation and continuous improvement in cost management practices through benchmarking and digital tools
• Promote cost-conscious behaviors across teams through mentoring, coaching, and knowledge sharing

Job Requirements

• Bachelor's degree in Finance, Engineering, or a related field (or equivalent experience)
• Strong analytical and problem-solving skills, including financial modeling and cost analysis
• Ability to interpret technical data and translate it into financial insights and actionable recommendations
• Proven ability to collaborate effectively in cross-functional, matrixed environments
• Strong communication skills with the ability to explain complex concepts to diverse stakeholders

Education

• Bachelor's degree in Finance, Engineering, or related field required (or equivalent experience)

Work Experience

• Prior experience in product costing, financial analysis, engineering, or related discipline preferred