Value Engineering & Cost Reduction Engineer

DescriptionWe are seeking a Value Engineering & Cost Reduction Engineer to identify, evaluate, and implement strategic cost-reduction opportunities across our product portfolio. This role partners closely with engineering, sourcing, manufacturing, quality, and suppliers to reduce product costs while maintaining or improving performance, quality, reliability, and compliance. The ideal candidate has a strong understanding of electronics hardware design, manufacturing processes, and cost structures, along with a passion for driving measurable business value through data-driven decision making and cross-functional collaboration.RequirementsKey Responsibilities:Cost Engineering & Should-Cost ModelingDevelop and maintain should-cost models for products, key subassemblies (power stages, magnetics, thermal systems, housings), and commodity categories (sheet metal, plastics, weldments)Establish BOM cost targets at the start of each new product program and track performance through NPI gate reviewsAnalyze product cost structures (BOM, labor, overhead) to identify reduction opportunitiesIdentify the highest-cost functions and components using Pareto analysis and drive targeted reduction initiativesBuild and manage a structured savings pipeline; report regularly on project progress and potential and realized savings to leadershipPartner with supply chain and procurement on supplier negotiations and cost-down initiativesChampion Design-to-Unit-Production-Cost (DTUPC) principles throughout the product development lifecycleQuantify and validate cost savings opportunities through detailed business case analysis and benefit trackingSupport annual cost-reduction objectives through execution of a prioritized VA/VE roadmapDesign for Manufacturability & Assembly (DFM/DFA)Participate in design reviews to identify opportunities to reduce part count, simplify assembly, and improve yieldEngage contract manufacturers and internal operations teams to identify and resolve DFM issues early in the design cycleDrive component standardization across product lines to reduce unique part count and increase purchasing leverageEvaluate PCB layout, mechanical designs, and thermal solutions for cost and assembly efficiencyCollaborate with design engineers to optimize component selection, circuit design, and mechanical design for costValue Engineering Leadership & CollaborationPlan and facilitate Value Analysis / Value Engineering (VAVE) workshops with engineering, procurement, operations, and qualityTranslate workshop outputs into prioritized action registers with clear owners, timelines, and business casesChampion a cost-conscious design culture by embedding VE thinking into standard engineering workflows and gate reviewsAlternate Component Qualification & Supply ChainIdentify and qualify alternate or second-source components to reduce cost, lead time risk, and single-source exposurePartner with procurement on supplier negotiations, using should-cost models to support target pricingEvaluate alternate components, materials, and suppliers to reduce cost and improve supply resilienceReliability, Qualification, & Change ManagementEnsure all cost reduction initiatives maintain or improve product functionality, reliability, quality, safety, and regulatory complianceLead or support the Engineering Change Order (ECO) process for VE-driven design changesCoordinate with engineering teams to define and execute appropriate validation testing (bench, thermal, EMC, reliability) for component and design changesQualificationsRequired:Bachelor’s degree in Electrical Engineering, Mechanical Engineering, or related field5+ years of experience in hardware product development, manufacturing, or cost engineeringDemonstrated success leading design-to-cost, value engineering, and cost-reduction initiatives for hardware productsExperience with power electronics, energy systems, industrial equipment, utility-scale products, or similar hardware platformsExperience working in a fast-paced, high-volume manufacturing environmentStrong understanding of component costing, product cost structures, and manufacturing processesProficiency with BOM structures, BOM management tools, and ERP/PLM systems (SAP, Oracle, Arena, or equivalent)Familiarity with component lifecycle management and alternate sourcing processesAbility to work cross-functionally and influence design decisionsStrong analytical and quantitative skills; comfortable building and using cost models in Excel or similar toolsPreferredExperience establishing VA/VE functions or cost engineering processes from the ground upKnowledge of commodity cost drivers for electronics, magnetics, sheet metal, plastics, and custom electromechanical assembliesExperience working with contract manufacturers (CMs/EMS) and custom supply chain partners (magnetics, busbars, custom enclosures)Knowledge of PCB design, magnetics, power semiconductors, or thermal/mechanical designCompetent with Python scripting, data analysis, reporting, and dashboard toolsFamiliarity with should-cost modeling and product cost management tools (aPriori, Costimator, SEER, or similar), and component intelligence platforms (SiliconExpert, Octopart)Background in or exposure to Lean Manufacturing, Six Sigma, or continuous improvement methodologiesExperience using engineering simulation tools such as LTspice, PLECS, ANSYS, or equivalent is a plusBenefits401(k) with company matchingMedical, dental, and vision insuranceDisability and life insuranceFlexible Spending Account (FSA)Employee Assistance Program (EAP)Paid Time Off (PTO)Tuition reimbursementEPC Power is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.