Product Cost Engineer

Position: Product Cost Engineer (Permanent)
Location: Warwickshire

Product Cost Engineer (Value Engineering)
Leamington Spa
£45,000 to £50,% bonus
Monday to Thursday 08:00–17:00 | Friday 08:00–12:00
26 days holiday + 8 bank holidays
Private medical cover (after qualifying period)
Death in Service benefit (4x annual salary)
Permanent | Highly regarded engineering employer with excellent retention
A well-established engineering manufacturer in Leamington Spa is recruiting a Product Cost Engineer to take ownership of cost reduction and value improvement activity across its product range.
This is a standalone, engineering-led role focused on reducing cost within the product itself. The emphasis is on challenging materials, specifications, tolerances, component selection and manufacturing routes to remove unnecessary cost while maintaining performance and quality.
This is not a factory efficiency or Lean manufacturing role. It is about improving product value through better engineering decisions.
If you enjoy understanding how parts are made and asking “why are we doing it this way?”, this role offers real autonomy and visibility.

The Role
You will sit between Engineering and Supply Chain, leading cost reduction projects across machined components, welded fabrications, assemblies and bought-in parts.

Key responsibilities include:

* Identifying opportunities to reduce cost within product designs and specifications

* Challenging material grades, tolerances, surface finishes and component selection

* Reviewing drawings and BOMs to identify over-engineering or unnecessary cost drivers

* Working with suppliers to understand manufacturing processes and cost breakdowns

* Supporting engineering change with a clear value improvement focus

* Benchmarking components and exploring alternative manufacturing routes

* Taking ownership of cost reduction projects from idea through to implementation

* Presenting savings opportunities and working collaboratively to gain buy-in
What You’ll Need to Be Considered
This role requires engineering credibility first, with commercial awareness alongside it.
Suitable backgrounds may include:

* Product Cost Engineer / Value Engineer

* Mechanical or Manufacturing Engineer with product cost reduction exposure

* Design Engineer with strong design-to-cost experience

* NPI / Project Engineer with supplier cost and manufacturability involvement
You’ll ideally bring:

* Strong understanding of machining, fabrication, casting or assembly processes

* Confidence reading and interrogating engineering drawings and BOMs

* Proven examples of reducing cost through design, material or specification change

* Experience working with suppliers on cost breakdowns and manufacturing methods

* The confidence to challenge engineering decisions constructively
Formal engineering qualifications are advantageous, but practical engineering knowledge and the ability to hold technical conversations are more important.
Why Join?

* Standalone role with real ownership and influence

* Stable, well-run engineering business with long-serving workforce

* Genuine opportunity to shape product cost and value

* Early Friday finish every week

* Competitive package including bonus, private medical and enhanced holidays
If you are an engineer who enjoys improving product value and making tangible commercial impact, this is a role where your contribution will be visible and valued.
INDH