Industrial Cost Engineer – Innovation & Value Engineering

Industrial Cost Engineer

Start Date: ASAP

Duration of the contract

Location: Drachten

Join our dynamic development teams to create innovative products and solutions for millions of consumers worldwide. In this role, you will drive cost-conscious decision-making, ensuring the best balance between quality, innovation, and financial efficiency for both consumers and Philips.

Your Team

You will be part of international cross-functional teams, collaborating with colleagues from Production, Innovation, Engineering, Logistics, Purchasing, and other key departments within Philips Health Tech. Your expertise in cost analysis will be critical in advising management and project teams on cost-related decisions.

• experience

• skills

• Lead and own Design to Value analysis, translating technical specifications into cost-effective part and product solutions.
• Analyze cost structures of design concepts and products, assess cost drivers, and evaluate design options to provide data-driven recommendations on material and component selection.
• Initiate, participate in, and lead cost improvement and DfX (Design for Excellence) projects, exploring new innovations and alternative solutions to enhance product portfolios and overall business impact.
• Focus on OEM/ODM supply-based innovations and lifecycle projects to increase value and reduce costs.
• Work closely with development, procurement, and production teams to ensure solutions align with financial and technical goals, always applying Philips’ "first-time-right" approach.
• Provide early-stage profitability assessments for new innovations, evaluating cost scenarios, supplier selection, total cost of ownership (TCO), and financial impact on P&L and balance sheets.
• Develop insights into local cost structures, market trends, and manufacturing cost benchmarks, contributing to product cost analyses and competitive positioning.
• qualifications

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