General Responsibilities
• Development of comprehensive project budgets and advanced cost models, ensuring accuracy and alignment with complex technical drawings and specifications.
• Handles the review of drawings and specifications, and provide expert guidance in the preparation of high-level cost estimates and strategic bid packages.
• Establish, track, and ongoing maintenance of project budgets and forecasts, ensuring robust financial controls across multiple projects.
• Monitor and analyze actual project expenditures versus approved budgets, identify significant variances, and implement corrective strategies to optimize financial performance.
• Lead project cost forecasting and conduct in-depth cost-benefit analyses to inform executive decision-making and strategic planning.
• Handles the preparation of advanced cost performance reports and present key financial insights to project managers and senior leadership.
• Identify and evaluate major cost risks, manage substantial contingency funds, and develop and implement sophisticated risk mitigation strategies.
•  Lead the analysis and negotiation of supplier contracts, high-value quotes, and complex change orders to ensure cost efficiency and compliance.
• Handles the maintenance of comprehensive project documentation, cost databases, and historical data, ensuring data integrity and accessibility for future projects.
• Develops high-level communication with project teams and stakeholders to resolve complex budget discrepancies and ensure strict adherence to organizational standards and best practices.

Experience / Qualifications

• Relevant work experience or knowledge of the role
• Must be a team player able to work in a fast-paced environment with demonstrated ability to handle multiple competing tasks and demands
• Strong communication skills; oral, written and presentation
• Strong organization, planning and time management skills to achieve results
• Strong personal and professional ethical values and integrity
• Holds self-accountable to achieving goals and standards
• Proficient in Microsoft Office programs (Outlook, Word, PowerPoint, and Excel)
• Strong interpersonal & collaboration skills to work effectively with all levels of the organization including suppliers and/or external customers

Procurement Cost Engineer specifics:

·       Detailed Bottom-Up Should-Cost Modeling: Develop precise cost estimates by breaking down components into raw materials, labor, machine cycle times, and overhead.

·       Develop new cost models for new products and processes

·       Tooling & Investment Estimation: Calculate the cost of specific production assets, such as injection molds, stamping dies, or assembly fixtures.

·       Design-to-Cost (DTC) Advisory: Partner with design engineers during the early concept phase to evaluate how geometry or material changes affect the piece price.

·       Supplier Quote Gap Analysis: Critically review supplier "Quotation Analysis" (QA) forms to identify discrepancies between the supplier's price and the engineered should-cost.

·       Manufacturing Feasibility Evaluation: Analyze CAD data and engineering drawings to ensure a part can be made efficiently using the proposed manufacturing process.

·       Competitive Benchmarking: Perform teardown and cost analysis of competitor components to establish industry benchmarks for new designs.

·       Supplier Negotiation Support: Act as a technical expert for the purchasing department during negotiations, providing data-backed evidence to justify cost targets.

·       Alternative Process Comparison: Evaluate the cost trade-offs of different production methods, such as casting vs. machining or plastic injection vs. stamping.

·       Make-vs-Buy Analysis: Compare the cost of internal manufacturing against external supplier quotes to support sourcing strategy decisions.

·       Market Trend & Index Monitoring: Track fluctuating costs of raw materials (e.g., steel, aluminum, resin) and labor rates across different regions to keep cost models current.

SmarterTogether

• Collaborating at Sensata means working with some of the world’s most talented people in an enriching environment that is constantly pushing towards the next best thing

• Employees work across functions, countries and cultures gaining new perspectives through mutual respect and open communication

•  As OneSensata, we are working together to make things work together 

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