Industrial Cost Engineer

Job Title

Industrial Cost Engineer

Job Description

You are responsible for
• Leading and owning the Design to Value analysis by supporting the project teams to translate technical specification into
part and product cost.
• Building and understanding of cost structures of design concepts and products, evaluating design options to identify cost
drivers, analyzing cost vs. benefit for optional scenarios and presenting the results for decision making in
materials/components selection in close collaboration with Procurement Engineering and Industrial Cost Engineering.
• You will initiate, participate, or lead cost improvement and DfX project teams, always searching for new developments and
alternatives, which can improve our product portfolios and have a great impact on the total business. Special focus for
OEM/ODM supply based innovations and lifecycle projects to augment value and reduce product cost.
• Supporting and challenging development, procurement, and our own factories during the innovation process to develop and
deliver solution according financial and technical goals, always with the Philips "first time right" approach in mind.
• You will be involved in new innovation projects from the beginning to set up profitability analysis and investigating
alternative scenarios to achieve our ambitious business goals
• For the innovation and business teams you will be the adviser on all financial-technical related issues, e.g. evaluating the
costs of internal versus external production, TCO analysis and supplier selection as well as analyzing the business case
impact (on PnL and balance sheet) for different scenarios.
• Further you will be responsible to create and share knowledge on local cost structures and cost drivers as well as market
overviews and benchmarks (e.g. typical manufacturing processes, understanding of cost and rates per region).
• Support the product benchmarking activities on the cost analysis.

To succeed in this role, you should have the following skills and experience
• Bachelor or Master’s Degree in Engineering, Industrial Engineering & Management, Technology and Operations/Management, or similar degree
• Minimum of 5 years’ experience in cost engineering and value engineering
• Deep understanding of the commercial & technical aspects and financial impact in innovation & development projects
• Seniority in behavior and experience to move and inspire others on different level.

Compensation & benefits
Doing meaningful work should come with fair, transparent rewards. The base salary range for this role is €[Min]–€[Max]. We determine pay within the range using objective factors, like the skills the role requires, your relevant experience and the responsibility you'll have in this role, alongside internal equity and local market considerations.
This role is eligible for [bonus], with your rewards linked to [KPIs/company results]. We’ll share the full approach with you during the interview process, so you can make a clear, informed decision. Benefits include [key benefits].
How we work together
We believe that we are better together than apart. For our office-based teams, this means working in-person at least 4 days per week. Onsite roles require full-time presence in the company’s facilities. Field roles are most effectively done outside of the company’s main facilities, generally at the customers’ or suppliers’ locations.
About Philips
Are you ready to do the work of your life to help the lives of others? Learn more about our business, discover our rich and exciting history and learn more about our purpose.
If you’re interested in this role and have many, but not all, of the experiences needed, we encourage you to apply. You may still be the right candidate for this or other opportunities at Philips. Learn more about our culture of impact with care.