Who We Are:
WHY Brands Inc., a parent company of Munchkin, Inc., focuses on creating, incubating, and growing the next generation of consumer lifestyle brands. Founded in 1990, Munchkin is the leading consumer product company and most loved baby lifestyle brand behind the innovative gear and products for children, mothers, and caregivers. Munchkin has sold billions of dollars of products through our key retail partners: Target, Walmart, and Amazon and has global distribution in over 50 countries. With over 375+ patents under our belt and over 250 international product and brand design awards, we continue to create solutions that leave our customers asking, "how did I ever live without this?" Innovation is the core of our company DNA and has been driving our designs for over 30 years! Recognized as #8 on America’s Most Innovative Companies list by Fortune Magazine, innovation is the core of our company DNA and has been driving our designs for 30 years!
We lead with our core values and believe that investing in the community is our responsibility. We create opportunities for every child’s potential and well-being through the Radiant Colors program, work to create a sustainable future, and in partnership with the International Fund for Animal Welfare have committed to animal conservation.
Position Summary:
As a Senior Cost Engineer, you will evaluate product designs, materials, manufacturing processes, and supplier quotations to develop accurate product cost estimates and identify opportunities to improve production and cost efficiencies.
Your primary responsibility will be to prepare and maintain internal cost estimates throughout the product development and commercialization process. You will review product cost breakdowns, validate materials and labor assumptions, analyze factory and supplier quotations, monitor cost trends, and provide recommendations to support product development, margin, and budget objectives.
The Senior Cost Engineer will partner with the Product Development & Design, Marketing, Finance, and Sourcing teams to assess cost implications, support cost-reduction initiatives, and ensure products are developed in line with established cost and margin expectations. This role will also mentor and support junior cost team members.
What You Will Do:
- Review product cost breakdowns to confirm that materials, quantities, unit costs, labor rates, tooling, packaging, and other cost components are accurate and reasonable
- Develop and maintain internal product cost estimates throughout the product development and commercialization process
- Evaluate product designs, materials, specifications, and manufacturing processes to identify cost drivers and opportunities to improve cost efficiency and manufacturability
- Analyze factory and supplier quotations for inaccurate, incomplete, or unreasonable cost assumptions and communicate findings to the appropriate internal teams
- Perform cost comparisons, cost-benefit analyses, and other financial evaluations to support product and development decisions
- Prepare and present product cost analyses, financial summaries, margin estimates, and cost recommendations to management and cross-functional development teams
- Provide Marketing and Product Development & Design teams with guidance regarding target costs, margin expectations, design alternatives, and potential cost implications
- Monitor material, labor, packaging, tooling, manufacturing, and other relevant cost trends
- Maintain current commodity and cost information for reference in product estimates and financial analysis
- Manage the costing requirements and cost budgets for assigned product development projects
- Track project costs against approved targets and communicate potential cost risks, variances, or budget concerns
- Keep management and the development team informed of significant cost issues, changes, or developments identified during the product development and quoting process
- Evaluate cost data and identify potential issues that require additional review, analysis, or escalation
- Support cost-reduction and value-engineering initiatives by identifying opportunities to improve product costs, materials, specifications, or manufacturing processes
- Lead or support the annual cost adjustment process and assess the potential impact on product margins and financial plans
- Develop, maintain, and improve costing tools, templates, processes, and reporting
- Partner with Sourcing and other cross-functional teams by providing cost analysis and recommendations; however, this role is not responsible for supplier selection, purchase orders, or procurement activities
- Mentor and support junior cost team members to promote accurate and consistent costing practices
- Other duties may be assigned
You Will Bring:
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- Bachelor’s degree in Industrial Engineering, Manufacturing Engineering, Mathematics, Economics, Finance, Supply Chain, or a related field; equivalent experience may be considered
- 5 to 7 years of experience in cost engineering, cost analysis, cost estimation, product costing, manufacturing, or a related field
- Minimum 5 years of cumulative experience in one or more of the following:
- Product cost estimation
- Cost modeling
- Cost-benefit analysis
- Manufacturing cost analysis
- Value engineering
- Experience reviewing product designs, bills of materials, materials, labor, tooling, packaging, manufacturing processes, and supplier or factory quotations
- Strong understanding of product cost drivers, manufacturing processes, margin calculations, and cost-estimation principles
- Strong quantitative, analytical, problem-solving, and organizational skills
- Proficiency using Microsoft Office applications, particularly Excel, Word, PowerPoint, and Outlook
- Ability to interpret data quickly, identify potential cost issues, and communicate findings and recommendations clearly
- Strong written and verbal communication skills, with the ability to work effectively with technical and non-technical stakeholders
- Ability to manage multiple projects and priorities in a fast-paced, cross-functional environment
We Got You Covered!
As a Great Place to Work Certified™ company, we are committed to offering the best to our employees. We offer a comprehensive benefits package that includes medical, vision, dental, prescription drug coverage, life insurance, wellness benefits, generous employer-matched 401(k) plan, Paid Childcare Leave, among other benefit plans. Our total rewards are top of market and include competitive salary, bonus, and opportunities to earn equity. We focus on supporting employee development and growth.
We regularly hold social functions to foster a genuine camaraderie that enhances teamwork. At our company-wide award functions, we take time to recognize the talent and dedication of the people who make Munchkin the most loved baby lifestyle brand in the world.
To give our people flexibility, we offer half-day Friday’s all year around and provide annual weeklong global office closures giving our people a chance to recharge.
Salary range: $80,000 - $130,000 (DOE).
To learn more, visit us at www.munchkin.com.
Munchkin welcomes and values what makes everyone unique. We’re proud to be an equal opportunity and affirmative action employer. All hires for our team are based on qualifications, merit, and business needs. We recruit, employ, train, and promote regardless of race, color, religion, disability, sex, sexual orientation, gender identity, national origin, age, veteran status, genetic characteristic, or any other protected status.
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