Job TitleCost Engineer
As the Industrial Cost Engineer, you will be responsible for accurately calculating and tracking product costs for all new and existing products to deliver at expected cost levels. You will also lead cost reduction initiatives on existing products to keep the business competitive. This role is critical to portfolio decision making and your work will support Project Management, Finance, Purchasing, Marketing and Innovation & Development.
This role reports to the Head of Operations Health & Wellness and will directly interface with the management team (MT) Mother & Childcare (M&CC) sub Businesses. You will also frequently work with other functions within the M&CC business and be expected to team up with similar roles to yours at other sites.
- Estimate, track and update product cost and investments in new Product Introduction (NPI) projects and existing portfolio
- Execute and contribute to decision making with product cost calculations.
- Identify cost reduction opportunities in projects and in running production.
- Contribute to functional continuous improvement plan.
- Establish link between reported saving procurement function vs. actual cost improvement in the profit & loss accounting.
- Continuously increase the cost opportunity funnel M&CC to improve gross margin and productivity as part of project Spring Clean.
- Calculate Industry Adder for M&CC on a quarterly basis to ensure coverage in forecasting tool
- Calculate freight uplift for M&CC supplied components
- Review quarterly forecast standard cost submissions from M&CC factories and OEM for accuracy and tracking vs plan
- Develop business case targets for replacement assets and new assets to support M&CC business through @Investor tool
- Liaison officer between multiple industrial sites (Glemsford (UK), Batam (Indonesia), Virginia (Brazil), Zhuhai (CN), HK, SCSC (OH), Klagenfurt (AT), and Glemsford Supply Chain / Warehouse and Finance
- Central reporting point for worldwide M&CC RoFo updates to FCPs (report for Amsterdam, review for SCSC, and ZH etc. ) and Capex
- Calculate and maintain industry cost allocations including Industry Adder, Licensing adders, freight uplifts for M&CC products,
- Ensure tie out between EFR reports GM and VIPP reported GM
- Support NPI project teams with FCP consolidation, this position responsible for non-BOM portion of FCP estimates (Procurement owns BOM portion, but Industrial Cost Engineer would report)
- Tracking cost price realization and making deviation to agreed targets transparent and trigger PDCA cycles to ensure realization of cost prices in line with agreed targets.
- Build up knowledge of intercompany profit elimination roll-up M&CC (trained as back-up) and review potential improvement opportunities.
- Coordinate efforts with ICE teams from Glemsford Factories and Eindhoven R&D site (align upstream and downstream Factory Cost Price (FCP) calculations) to ensure that the product costs and investments are properly reflected in business plans and forecasting tools (VIPP)
- Ensure that applicable documents/deliverables are created and delivered according to Quality Management System (QMS) requirements
- Support industry capital expenditure for Bothell site, coordinating with LCM team and purchasing
- Ensure that output is timely and aligned with other functions.
- Project Core Team members are expected to make approval/reject recommendations with respect to own functional area for milestone gates.
- Escalate when trade-offs are perceived not acceptable for the function.
- Review or approve functional documents/deliverables according to QMS requirements.
We are looking for:
A senior cost engineer with several years of experience in cost accounting and continuous improvement. Candidate should be able to give concrete examples of cost reductions performed in earlier roles. Must have excellent communications skills and be able to lead cross functional project teams to meet business savings targets. Preferred candidate has experience in a consumer medical devices industry.
- Bachelor's degree in engineering, preferably with finance and continuous improvement experience
- Minimum 5 years of experience and expertise with cost engineering in a technical environment.
- Superb knowledge in Excel and other MS office applications
- Experience with clean sheet / should cost calculations
- Ability to manage time, be organized, and work with minimal supervision.
- Service minded
- Detail oriented and striving for perfection; quality mindset.
- Ability to manage multiple, complex priorities within demanding timeframes with attention to detail.
- Able to work cross-functionally with diverse teams on various topics.
- Knowledge of and ability to work within a global corporate environment is required. Highly collaborative.
- Excellent documentation skills including proofreading to ensure accuracy of content.
- Strong communication and presentation skills (listening, written, and verbal) in English.
- Ability to communicate at all levels of an organization effectively.
Philips Mother & Childcare creates meaningful innovations that improve people's lives; our AVENT products help provide better health parents and babies across the globe.
We are a mature and dynamic organization that is rapidly growing and needs strong leaders to achieve our growth ambitions.
Philips is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex (including pregnancy), sexual orientation, gender identity, national origin, genetic information, creed, citizenship, disability, protected veteran or marital status.
Location will be Amsterdam. The expected travel time- domestic and international- to internal and external locations this job is around 10%
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