Value Engineer

FUNCTION
The Value Engineer I is responsible for supporting various cross functional teams and projects related to new and existing product cost. The Value Engineer I is responsible for identifying opportunities for product improvement to eliminate waste and drive higher profit margins.

This list of duties and responsibilities is not all inclusive and may be expanded to include other duties and responsibilities as management may deem necessary from time to time.

• Lead strategic value engineering projects that support best total cost of product through quality, design, manufacturing process, and supply chain.
• Lead the cross functional assessment of new project costs and capital investments.
• Responsible for reporting and developing action items to support new product margins.
• Prepare make / buy cost analysis and present to teams.
• Conduct benchmarking events evaluating market value and should cost analysis.
• Prepare reports for all levels of management as needed.
• Develop and implement goals and initiatives consistent with company strategy.
• Stay current and communicate inflationary market trends to senior management.
• Create costed engineering BOM’s for cost comparisons.
• Manage meetings with cross functional teams including customers and suppliers.
• Create RFQ’s for supplier quotations and evaluate to make sure cost targets are achieved.
• Audit system BOM for accuracy, and collaborate with engineering, manufacturing engineering, and supply chain to resolve discrepancies.
• Participate in R & D development to incorporate new technology and innovative solutions.
• Initiate Engineering Change Requests (ECR’s) to make changes to existing product to improve efficiency, quality, and cost.