Cost Engineer

What to Expect We are recruiting for a Cost Engineer to join our fantastic Finance team in Woking. As the Cost Engineer your role will be focused on a specific commodity area, and will be split across two key activities: Future Programme and Commodity Cost Estimation: Conducting preliminary cost analysis for early technical concepts, supporting financial reporting and budget setting, and performing detailed bottom-up cost estimations as specifications mature. Ensuring design-to-cost principles, supporting supplier cost gap analysis, and assisting in negotiation and nomination processes. Cost Reduction Activities: Collaborating with the cross-functional Cost Reduction team to provide estimations and should costs, identifying and delivering cost reduction opportunities across all vehicles within the function group scope. What You'll Do Support the business in delivering detailed cost targets for sourcing strategy on future programs, as well as support ongoing negotiations on current production vehicles, identifying key cost drivers and prioritizing key discussion points with suppliers. Demonstrate mandatory knowledge of creating cost estimates from base, without the aid of proprietary calculation software, having a scientific and demonstrable approach to the costing methodology assumptions. Support ad-hoc requests for cost breakdown verification and high-level costing for engineering changes. Lead categorizing suppliers in the business by creating a map of supplier capabilities and capacities to ensure sourcing is done on Best-In-Class industry actors. Ensure productivity targets are defined with incumbent suppliers and negotiate along with the commodity team to guarantee its delivery. Lead lean manufacturing and productivity optimization studies; resulting in actions to ensure incumbent suppliers adhere to best manufacturing practices and process flow. Maintain and improve upon internal databases for materials, labour & facilities; tracking economic changes over time, ensuring up-to-date market data with verifiable sources. Develop and improve upon internally created tools and calculation templates to ensure consistency in the delivered estimates and guarantee continuity of costing practices. Create and present training material on manufacturing processes and commodities for new cost engineers, buyers, and any other stakeholders involved. What You'll Bring Ability to work in a highly competitive and driven environment. Structured approach and organized mindset to problem resolution. Comprehension of engineering designs and supplier quotations, being able to deduce misalignments on manufacturing processes and inconsistencies with market data. Proficiency using CAD system’s visualization software, identifying component materials, GD&T dimensional tolerances, and being able to infer manufacturing process flow. Ability to tailor costing assumptions based on low-volume scenarios, highly specialized manufacturing, and limited industry participants. Ability to create side-by-side quotation comparisons and waterfalls, identifying key cost drivers, explaining cost gaps, and prioritizing areas of focus during supplier negotiations. Advanced knowledge of Microsoft Office Suite, with emphasis on datasets and calculation templates (Excel) & creating clear and visual reports to guide business stakeholders with punctual results (PowerPoint). Preferred knowledge of lean manufacturing, Kaizen, and movement studies. What We'll Do for You We offer a wide-ranging benefits package, which includes: Structured career development framework 25 days’ holiday, plus bank holiday. Annual buy & sell up to five days Enhanced company pension scheme Discretionary annual bonus award Private medical insurance and health cash plan Life assurance 4x your basic salary Ability to apply for a sabbatical of up to one year after only two years’ service Benefits you can adapt to your lifestyle, such as discounted shopping Generous parental leave policies including market-leading maternity leave Tax-efficient nursery scheme benefit A range of wellbeing initiatives, such as employee assistance programme and free financial & mortgage advice Friends and family day Opportunities to experience our fantastic cars Qualifying criteria apply. Who Are We? No restraints. No limitations. We don’t simply push boundaries. We completely rethink them. McLaren Automotive exists to create breath-taking performance road cars. It takes a community to do what we do. A diverse group of people with many areas of expertise, united by their passion to deliver visionary products and set new benchmarks. McLaren Automotive commits to equal opportunity for all. Diversity, Equality, and Inclusion is at the heart of our impact, it drives our innovation and enables us to truly create something special. Join us on our journey.

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