Value Engineering & Cost Reduction Engineer

Key Responsibilities

• Develop and maintain should-cost models for products, key subassemblies (power stages, magnetics, thermal systems, housings), and commodity categories (sheet metal, plastics, weldments)
• Establish BOM cost targets at the start of each new product program and track performance through NPI gate reviews
• Analyze product cost structures (BOM, labor, overhead) to identify reduction opportunities
• Identify the highest-cost functions and components using Pareto analysis and drive targeted reduction initiatives
• Build and manage a structured savings pipeline; report regularly on project progress and potential and realized savings to leadership
• Partner with supply chain and procurement on supplier negotiations and cost-down initiatives
• Champion Design-to-Unit-Production-Cost (DTUPC) principles throughout the product development lifecycle
• Quantify and validate cost savings opportunities through detailed business case analysis and benefit tracking
• Support annual cost-reduction objectives through execution of a prioritized VA/VE roadmap

Design for Manufacturability & Assembly (DFM/DFA)

• Participate in design reviews to identify opportunities to reduce part count, simplify assembly, and improve yield
• Engage contract manufacturers and internal operations teams to identify and resolve DFM issues early in the design cycle
• Drive component standardization across product lines to reduce unique part count and increase purchasing leverage
• Evaluate PCB layout, mechanical designs, and thermal solutions for cost and assembly efficiency
• Collaborate with design engineers to optimize component selection, circuit design, and mechanical design for cost

Value Engineering Leadership & Collaboration

• Plan and facilitate Value Analysis / Value Engineering (VAVE) workshops with engineering, procurement, operations, and quality
• Translate workshop outputs into prioritized action registers with clear owners, timelines, and business cases
• Champion a cost-conscious design culture by embedding VE thinking into standard engineering workflows and gate reviews
• Identify and qualify alternate or second-source components to reduce cost, lead time risk, and single-source exposure
• Partner with procurement on supplier negotiations, using should-cost models to support target pricing
• Evaluate alternate components, materials, and suppliers to reduce cost and improve supply resilience

Reliability, Qualification, & Change Management

• Ensure all cost reduction initiatives maintain or improve product functionality, reliability, quality, safety, and regulatory compliance
• Lead or support the Engineering Change Order (ECO) process for VE-driven design changes
• Capture and execute appropriate validation testing (bench, thermal, EMC, reliability) for component and design changes

Qualifications

• Bachelor’s degree in Electrical Engineering, Mechanical Engineering, or related field
• 5+ years of experience in hardware product development, manufacturing, or cost engineering
• Demonstrated success leading design-to-cost, value engineering, and cost-reduction initiatives for hardware products
• Experience with power electronics, energy systems, industrial equipment, utility-scale products, or similar hardware platforms
• Experience working in a fast-paced, high-volume manufacturing environment
• Strong understanding of component costing, product cost structures, and manufacturing processes
• Proficiency with BOM structures, BOM management tools, and ERP/PLM systems (SAP, Oracle, Arena, or equivalent)
• Familiarity with component lifecycle management and alternate sourcing processes
• Ability to work cross-functionally and influence design decisions
• Strong analytical and quantitative skills; comfortable building and using cost models in Excel or similar tools

Preferred

• Experience establishing VA/VE functions or cost engineering processes from the ground up
• Knowledge of commodity cost drivers for electronics, magnetics, sheet metal, plastics, and custom electromechanical assemblies
• Experience working with contract manufacturers (CMs/EMS) and custom supply chain partners (magnetics, busbars, custom enclosures)
• Knowledge of PCB design, magnetics, power semiconductors, or thermal/mechanical design
• Competent with Python scripting, data analysis, reporting, and dashboard tools
• Familiarity with should-cost modeling and product cost management tools (aPriori, Costimator, SEER, or similar), and component intelligence platforms (SiliconExpert, Octopart)
• Background in or exposure to Lean Manufacturing, Six Sigma, or continuous improvement methodologies
• Experience using engineering simulation tools such as LTspice, PLECS, ANSYS, or equivalent is a plus

Benefits

• 401(k) with company matching
• Medical, dental, and vision insurance
• Disability and life insurance
• Flexible Spending Account (FSA)
• Employee Assistance Program (EAP)
• Paid Time Off (PTO)
• Tuition reimbursement