Cost Engineer
Location Manchester, England Date posted January 29, 2024 Job ID 15362Our Opening and Your Responsibilities
We are looking for a highly driven, technically and commercially astute Cost Engineer to join Mettler Toledo Safeline, our Metal Detection SBU (Strategic Business Unit), part of Mettler-Toledo's Product Inspection Division.
Reporting to the Product Operations Manager, the Cost Engineer will take charge of our cost analysis, cost engineering initiatives, and value engineering strategies. In this role, you'll not only analyse but also lead and implement profitability improvement projects across our organization.
The role requires an end-to-end approach from collating and analysing financial data to identifying deviations from set targets, culminating in the creation and execution of comprehensive improvement programs. This integral process is essential for steering our strategic objectives over the upcoming years.
This role offers both challenges and significant rewards for those who demonstrate the essential blend of technical expertise and interpersonal skills.
Key Responsibilities include:
Analysis
- Owning, monitoring, and reporting out the ongoing margin contribution of the complete product portfolio.
- Gather and analyse financial and production data relating to the product portfolio’s profitability.
- Gain a clear understanding of the product cost structures for the existing product portfolio.
- Interrogate at a granular level each products cost make up and develop the capacity to red flag anomalies.
- Determine both historical and target standard costs for all elements of the portfolio.
- Examine data for significant variances, deviations, or discrepancies on a monthly basis.
- Evaluate the data for underlying and historic trends and proactively prioritise for follow up.
- Prepare detailed periodic and strategic report outs, for alignment across the business.
- Maintain dashboards and ongoing collaboration data for wider business engagement.
Cost Control
- Oversee and maintain ‘Cost to Target’ objectives for all standard product offerings.
- Identify and initiate cross functional investigations when standard product costs deviate from pre agreed tolerances.
- Coordinate collective ideation across teams to derive cost saving initiatives.
- Investigate the underlying causes of production cost fluctuations and variances, and whether they are triggered by operational changes, material shifts or other factors.
- Coordinate and drive cross functional investigations to understand and eradicate cost variance issues.
- Document, record, and project manage all corrective actions implemented across the business.
Continuous Improvement
- Conduct audits on production, engineering, and financial data processes to ensure ongoing veracity of data and information collated.
- Collaborate with Product Management teams to support with the estimation of product costs for new product developments.
- Develop and lead best in class Cost Engineering and Value Engineering disciplines and process across the business to drive continuous improvement.
What You Need to Succeed
- Proven experience as a Cost Engineer, Cost Analyst, Cost Specialist or similar role.
- Experience in data, operational and financial analysis.
- Experience within a manufacturing, engineering, or technical organisation.
- Experience working within a Standard Cost environment and showing an understanding of Manufacturing Variance
- Strong analytical skills
- Extensive knowledge and experience of SAP
- Excellent working knowledge and skill within MS Excel application
- Ideally qualified to degree level.
Our Offer to You
- Competitive Salary
- Employee bonus
- Flexible/ hybrid working
- 26 days holiday + 8 bank holidays
- Pension scheme
- Life Assurance
- Work for the market leader in Metal Detection
About Mettler Toledo
METTLER TOLEDO is a leading global supplier of precision instruments and services. We are recognized as an innovation leader and our solutions are critical in key R&D, quality control, and manufacturing processes for customers in a wide range of industries including life sciences, food, and chemicals. We operate throughout the world with a culture shaped by innovation and international flair.
Equal Opportunity Employment
We promote equal opportunity worldwide and value diversity in our global workforce, which reflects the diversity in the many countries in which we operate internationally. Our commitment to Equal Opportunity and Diversity begins with our recruitment and selection process. We will ensure that individuals with disabilities are provided reasonable adjustments to participate in the job application or interview process. If you consider yourself to have a disability or learning difficulty which means you are unable to complete the application process online, please get in touch by email to ukrecruitment@mt.com so that we can make alternative arrangements for you. For more information on our commitment to Sustainability, Diversity and Equal Opportunity please visit us here.
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