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Cost Engineer - 9409353

Cambridgeshire - Peterborough
£25 - £28 per Hour
Job Reference

Our client has been a manufacturer of diesel engines and power solutions for over 85 years, to the highest levels of performance and reliability. They have grown to become one of the leading suppliers of diesel and gas engines in the power solutions market.

Due to their continued growth they are seeking a Cost Engineer to join the teams based in Peterborough on a contracting basis.

The objective of the Strategic Cost Management (SCM) team is to identify, evaluate and deliver projects that reduce the impact of material cost on all products produced within IPSD. This is done through the use and deployment of various cost management tools and close working relationships with other divisions of the business particularly purchasing, engineering and supply chain. Collaboration and engagement beyond local team is essential.

This role will involve exposure to many other areas of the business and making significant contribution to the year over year cost reduction and product cost targets set by the organisation

The primary focus of this position is the development of detailed component cost models and high level cost estimates for existing parts, new parts and competitor parts. Cost models account for all cost's drivers associated with the manufacture and supply of components.

The creation of models and estimates will involve the application of your existing manufacturing/engineering and product knowledge, or through detailed investigation of the desired process and technology. The completed analysis sets the baseline that will help identify cost reduction opportunities/projects for subsequent delivery through Strategic Cost Management or NPI teams

This role covers both current and New Product Introduction (NPI) programmes.


* Form high level cost estimates using existing knowledge coupled with information derived from 2D drawings, 3D Solid model, material specifications, technical specifications, material type, part samples, component assessment forms (CAF's), process knowledge and supplier data.
* Use the above to develop detailed component 'Should Cost' models from bottom up. Models are generated using dedicated software to process data, including: - manufacturing process, machine data, labour rates, commercial data, scrap rates.
* Identify cost reduction opportunities after reviewing the incumbent suppliers operational process Vs 'Cost model' results
* Work with project team to derive a targeted negotiation strategy based on Cost model data
* Provide technical support to buyers during supplier negotiations
* Undertake price change assessments prior to sign off to ensure value for money
* Manage VA/VE (Value Added / Value Engineering) events and process optimisation workshops to identify cost reduction opportunities for delivery
* Work with Design Engineering as a consultant to develop cost effective solutions


* Initiating Action and Leadership
* Effective Communication skills - Written and Oral
* Innovation
* Technical / Professional Knowledge
* Focus on Quality and continuous improvement


This is a great opportunity for someone who has experience in material cost management with a strong foundation in a range of manufacturing processes


* Strong knowledge of manufacturing processes and commercial cost drivers
* Experience of managing multiple projects
* The ability to demonstrate cross functional team work
* Analysing and interpreting numerical data and reaching sound judgements and recommendations
* Driving License as travel will be required
* Proficient in Microsoft packages.

Rate: Offering up to £28.00 per hour based under Umbrella Co / Ltd Co


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