Product Cost Strategist
3 weeks ago
We are seeking a skilled Product Cost Strategist to drive cost optimization efforts across our product portfolio at Johnson Controls. This role is integral to ensuring our products are competitively priced without compromising on quality or performance.
Job DescriptionThe Product Cost Strategist will collaborate with cross-functional teams to analyze product costs, identify cost-saving opportunities, and lead cost-reduction initiatives throughout the product lifecycle.
This involves:
- Developing and implementing cost strategies for new and existing products, aligning with financial and operational goals.
- Leading detailed cost breakdown analysis of products, including materials, labor, overhead, logistics, and more.
- Working closely with product development and engineering teams to understand design constraints and ensure cost-effective solutions are integrated during the design phase.
- Negotiating with suppliers, exploring alternative materials, and optimizing the supply chain for cost reduction without sacrificing quality.
- Conducting competitive benchmarking and market analysis to identify industry best practices in cost management and ensure product competitiveness.
- Enabling continuous cost-improvement initiatives, including value-added engineering with design, procurement continuous improvement, and manufacturing continuous improvement through respective teams.
- Providing regular reports on product cost performance, variance analysis against standard cost, and forecast cost trends. Ensuring alignment with financial targets and budgets.
- Serving as a liaison between cross-functional teams to ensure alignment on cost goals and initiatives.
- Identifying risks related to product costs, supply chain volatility, and price fluctuations. Developing mitigation strategies accordingly.
To be successful in this role, you should have:
- A Bachelor's degree in Finance, Engineering, Business, Supply Chain, or a related field. An MBA or relevant advanced degree is a plus.
- 5+ years of experience in product cost management, supply chain management, product development, or a related field.
- A proven track record of driving cost-reduction strategies in a manufacturing or technology-based industry.
- Experience in cost modeling, analysis, and reporting.
You will excel in this role if you possess:
- Strong analytical skills with attention to detail in cost analysis and forecasting.
- Proficiency in financial analysis, costing software, and ERP systems.
- Excellent communication and negotiation skills to work with cross-functional teams and suppliers.
- Strong problem-solving ability and strategic thinking.
- Familiarity with lean manufacturing principles, value engineering, and cost estimation techniques.
Based on industry standards and considering the responsibilities and qualifications required for this role.
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