Product Cost Specialist

United States·Mahwahmid

OtherProduct Specialist

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Quick Summary

Overview

About Us Chefman is one of North America's leading brands of small kitchen appliances, committed to building best-in-class products that make cooking accessible and enjoyable. In 2020,

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OtherProduct Specialist

About the Role

~1 min read

Should-Cost Modeling & BOM Cost Tracking
Develop and maintain accurate should-cost models that reflect the latest product definition, updating at each prototype build milestone
Track the live Bill of Materials (BOM) cost vs. target cost as the engineering team iterates on design, flagging risks and opportunities in real time
Review supplier-submitted CBOMs for accuracy and alignment with Chefman cost targets
Generate a critical components list and work with supply chain to obtain competitive quotes
Coordinate product details to generate ballpark cost estimates during the advanced development phase
Deliver clear cost summary reports and presentations to cross-functional teams, highlighting where cost is concentrated and where savings opportunities exist

Negotiate piece-part pricing, assembly costs, scrap allowances, and factory margins directly with overseas manufacturing partners
Offer design-for-cost suggestions to product and engineering teams to drive lowest possible landed cost without compromising quality or consumer value
Work with product teams to conduct teardowns of competitive products to analyze materials, components, assembly methods, and manufacturing processes

Track tooling budgets across the product portfolio, ensuring spend is aligned with approved targets
Negotiate tooling modification costs as design changes arise during development
Manage tooling amortization schedules in coordination with finance and supply chain teams

Draft, negotiate, and execute MOUs (Memorandums of Understanding) and PAs (Price Agreements) with external factory partners
Ensure contractual alignment with internal stakeholders including engineering, supply chain, finance, and legal
Maintain accurate records of all pricing agreements and contractual commitments across the supplier base

Prepare weekly project cost updates and participate in regular calls with China-based factory and cost teams
Participate in product reviews, design hacks, and NPI milestone meetings
Support getting complete product definitions created in collaboration with engineering and program management teams

Requirements

~1 min read

Bachelor's degree in Mechanical, Electrical, or Industrial Engineering
3–5 years of experience in cost engineering, manufacturing engineering, or product development within consumer products or high-volume production environments
Demonstrated experience building and maintaining should-cost models with strong attention to detail
Proficiency in Power BI for cost reporting, data visualization, and dashboard development
Hands-on experience negotiating with Asia-based contract manufacturers on pricing, tooling, and contractual terms
Knowledge of plastics, injection molding, tooling, electronics, assembly methods, decoration processes, and packaging
Strong Microsoft Excel skills; experience building cost models and BOM trackers
Intermediate proficiency in SolidWorks or CREO
Familiarity with MOU and Price Agreement drafting and execution
Strong presentation skills — able to deliver clear cost summaries and actionable recommendations to senior stakeholders
Experience with IoT or connected consumer product manufacturing is a plus
Ability to travel internationally to China-based manufacturing facilities as needed (approximately 20–30%)