Production Cost Engineer

Production Cost Engineer

Salary: $75,000 - $95,000 per year

Location: Farmington, CT

The Production Cost Engineer is responsible for analyzing, benchmarking, and improving manufacturing costs across multiple production lines. This role acts as a key interface between production, engineering, controlling, and global lead plants to ensure cost transparency, identify cost drivers, and execute cost-reduction initiatives. The position supports both day-to-day cost monitoring and long-term cost strategy, including localization and process improvement projects.

Cost Analysis, Benchmarking & Target Setting

• Review and analyze monthly group production cost reports; identify cost variances, root causes, and corrective actions.
• Perform benchmark analyses of assembly hours and fabrication costs against lead plants.
• Define cost and time deltas vs. lead plants and develop project-based action plans to close gaps.
• Define and maintain cost-per-hour targets for fabrication processes; lead initiatives to achieve target levels.
• Review manufacturing overhead (MOH) calculations monthly with Controlling; summarize key changes, drivers, and risks.

Stakeholder Coordination & Reporting

• Lead monthly cost review meetings with each lead plant to review production costs, cost measures, and project status.
• Facilitate cross-functional meetings with stakeholders responsible for cost measures and project execution.
• Support and coordinate cost-measure investigations, including data collection, analysis, and follow-up actions.
• Provide monthly or quarterly cost and project performance updates to senior leadership covering all assigned product lines.

Project Engineering Support & Project Management

• Support project engineers with cost analyses for localization projects, including business-case evaluations and financial impact assessments.
• Plan, manage, and execute concurrent improvement, cost-saving, and localization projects ensuring on-time delivery and realized financial benefits.
• Develop and maintain structured project plans with scope, timelines, risk analyses, and cost strategies; monitor and report progress to senior leadership.

Experience

• 1–3 years in manufacturing cost engineering, production engineering, or process improvement, preferably in sheet metal fabrication environments.
• Experience in cost benchmarking, variance analysis, and manufacturing KPI management.
• Strong project management skills; experience leading cross-site projects and stakeholder meetings.
• Advanced Excel skills (PivotTables, Power Query); SAP and Power BI experience preferred.
• Strong analytical, organizational, and communication skills; willingness to work on the shop floor and travel occasionally.

Education

Bachelor's degree in Industrial Engineering, Mechanical Engineering, Manufacturing Engineering, Business Administration (operations focus), or equivalent.