Position Purpose:
A Cost Engineer will support Woodward, Inc. with the cost impact and direction of existing and new product designs, as well as, any design proposal or change made to existing product(s). The individual will bring a wealth of manufacturing process and design knowledge to be able to influence the design of a product based on the cost analysis. This role will support the basis of developing the cost objectives and financial viability for new products as well as coordinating the development of product cost data with the various financial functions within the organization. The individual will be a resource for cost information for the entire organization (upper management, sourcing, marketing, sales, engineering, financial, manufacturing, etc). This position requires a low level of supervision.
Essential Functions:
Interfaces with engineering, purchasing, manufacturing, and assembly and test to understand and communicate design to cost bill of material structure, cost requirements, and actions to be addressed by the project team.
Performs cost analysis (aPriori) to identify potential cost reductions and recommend changes.
Participates as a project team member in meetings and reviews, including PLC Gate meetings.
Performs other product cost analysis and provides guidance as required.
Provides Sourcing/Engineering/Manufacturing with Project/Product cost data as requested.
Collaborates with designers and manufacturers to achieve desired cost objectives.
Participates in cost reduction programs as required.
Routinely updates management on status of projects.
Supports company wide Should Cost modeling program implementation.
Other Essential Functions:
Provides direction and opportunities to manage, reduce, or control product costs based on data analysis, manufacturing, and process knowledge.
Participates and supports the development and execution of One Woodward processes and procedures, and Continuous Improvement (CI) activities as required.
Works to create and enhance costing and analysis tools and documentation guidelines to improve processes.
Actively drive lean projects utilizing Six Sigma and lean tools.
Provide DTC/CTC or other product cost related training to other Woodward members.
Knowledge Skills & Abilities:
Ability to read and understand engineering drawings and Bills of Material (BOM). Good understanding of manufacturing processes
Basic use of DFSS tools and methodologies; Basic knowledge of engineering quality systems (PLC, engineering change, configuration management)
Ability to compile and analyze multiple sources of data and identify relevant data so that a single best course of action can be taken
General knowledge of cost accounting practices and reporting systems
Basic project management skills
Good written and verbal communication skills. Ability to communicate effectively across all levels of the organization and excels in communicating with individuals and groups
Builds and maintains effective working relationships with internal and external stakeholders
Ability to step up to conflicts and seeing them as opportunities, while keeping an eye on overall objectives
Ability to effectively determine product target cost projections through data mining and the application of solid judgment
Solid PC skills including proficiency in MS Office, advanced knowledge using Excel. General knowledge and comfortable working with ERP systems
Demonstrates accuracy, thoroughness and organizational skill in performing work assignments
Capable of organizing and prioritizing multiple tasks
Basic understanding and experience with supplier negotiations
Able to read and understand blueprints, Engineering documentation, and Geometric Dimensioning & Tolerancing, etc.
Working knowledge of Casting/Forging and Machining operations
Education:
Bachelor of Engineering (Mechanical)
Experience:
Experience in a related field (Manufacturing, Manufacturing Engineering, Purchasing, Engineering)
License & Certifications:
Continuous Improvement certification (Lean, Green Belt, Black Belt, etc.)
Top Skills
What We Do
Woodward is an independent designer, manufacturer and service provider of energy control and optimization solutions for aerospace and industrial markets. For 150 years, Woodward has focused its resources and expertise on delivering proven systems that perform under incredible demands. Our customers have come to rely on us to help them address and solve the challenges associated with global efficiency initiatives – from reducing emissions, to increasing energy efficiency, to helping them introduce alternative energy sources.
Why Work With Us
A career at Woodward offers professional and personal growth. You will work alongside the brightest minds in our industry, help develop innovative technology and products, and contribute to our company’s goal of always innovating for a better future.
People join Woodward for a job and end up building a career for a lifetime.
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