Value Engineering & Cost Reduction Engineer

Description

We are seeking a Value Engineering & Cost Reduction Engineer to identify, evaluate, and implement strategic cost-reduction opportunities across our product portfolio. This role partners closely with engineering, sourcing, manufacturing, quality, and suppliers to reduce product costs while maintaining or improving performance, quality, reliability, and compliance. The ideal candidate has a strong understanding of electronics hardware design, manufacturing processes, and cost structures, along with a passion for driving measurable business value through data-driven decision-making and cross-functional collaboration.

• 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

• 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

• 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

• 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
• Coordinate with engineering teams to define and execute appropriate validation testing (bench, thermal, EMC, reliability) for component and design changes

• 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,…