Cost Engineer

Bloomington, MN
Sep 14, 2021
Oct 14, 2021
Job Type
Employment Status
Full Time

Major Function

Develops, analyzes, and documents cost information for new product development, design and cost improvement, maintenance, make vs. buy, and other special projects. Manages product cost to target. Optimizes value. Provides leadership to ensure cost predictability. Ensures product/part specifications are consistent with expectations.

Duties & Responsibilities

  • Prepares supporting documentation (cost estimate/tooling budgets) for new project development milestones and all other product redesign as assigned.

  • Provides analyzed cost data to Engineering, Marketing, and Finance for use in determining project direction, product pricing, parts pricing, budgeting P&L’s, and internal rate of return investment calculations.

  • Provides direct interface to Engineering on process capability, materials utilization, and design alternatives to optimize value.

  • Has regular interaction with suppliers, plants, and other outside resources in order to retain leading edge knowledge of process’ available to Toro.

  • Provide leadership and initiative in the area of cost control, cost reduction, and standardization.

  • Prepares and/or assists in project tooling budgets. Utilizes ROI models to ensure tooling investment returns are consistent with project goals.

Job Dimensions

  • Matrix relationship with senior management, corporate and divisional finance, marketing, and engineering staff.

  • Interacts and provides additional cost support to plants, new product development sourcing, and global sourcing / supply chain management. Any other requesting group/individual.

  • Administers new product costing and costing to support current business as assigned.

  • Keeps current with in-house and supplier capabilities.

  • Provides value engineering and design for manufacture and assembly (DFMA) support to project teams. Provides leadership in alternative / other option design recommendations.


  • Bachelor's Degree required. Major in Engineering/Industrial Technology or Finance preferred.

  • 1-5+ years experience developing future product cost (target costing).

  • Must have a strong understanding of manufacturing processes, understand bills of material and product structures, and be able to develop cost estimates based on Engineering specifications.

  • SAP proficiency is a must.

  • Should possess computer skills in Excel and Access.

  • A working knowledge of value engineering and DFMA principles are a must.

  • Should have strong communication and problem solving skills.

We are proud to be an Equal Opportunity Employer and consider qualified applicants without regard to race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), parental status, national origin, age, disability, genetic information (including family medical history), political affiliation, military service, or other non-merit based factors. We celebrate diversity and are committed to creating an inclusive environment for all employees.

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