Procurement Cost Engineer

Purpose of the Position :

Develops analytical cost models to determine the true or expected cost of products, components, and services. This role supports strategic sourcing, supplier negotiations, product design optimization, and cost reduction initiatives by providing fact-based cost insights across materials, labor, overhead, and processes.

Key Responsibilities :

• Support with cost breakdown analysis
• Develop detailed should-cost models for key categories.
• Decompose supplier quotes into materials, labor, overheads, tooling/amortization, logistics, energy, and margin; benchmark vs. internal models and market indices.
• Provide factbased negotiation packs for category managers and buyers: target prices, walkaway points, and lever analysis.
• Participate in design to value initiatives to influence specifications, tolerances, materials, and manufacturing routes to reduce cost.
• Perform cost breakdown analysis and supplier cost transparency reviews
• Validate supplier cost structures to identify improvements and productivity roadmaps.
• Track commodity indices, FX, energy, labor rates, logistics, and regulatory impacts.
• Publish monthly dashboards for cost performance, model coverage, and market cost trends.
• Collaborate with engineering, procurement, manufacturing, and finance teams.

Requirements for the position

Knowledge and skills:

• Understanding of category management, sourcing and operational procurement.
• Strong understanding of manufacturing processes (machining, casting, molding, fabrication, assembly, etc.)
• Ability to interpret engineering drawings, BOMs, and technical specifications
• Strong analytical and negotiation-support skills
• Ability to manage multiple priorities and meet deadlines.
• Clear and professional communication with stakeholders.
• Detail-oriented with the ability to work in a fast-paced, matrix organization.

Behaviours:

• Strong analytical, organizing and time-management skills.
• Approaches problems with a data-driven mindset.
• Supportive, open-minded and detail-oriented.
• Collaborative with stakeholders to understand purchasing needs and ensure alignment with business goals.

Experience & education:

• Degree in Engineering, Business Administration or Supply Chain, or similar competence acquired during career.
• 3-8 years of experience in supply chain management, preferably cost engineering.
• Experience with cost modeling tools, Excel, and ERP/MRP systems