Job Title Senior Cost Engineer Ref 38508 Date posted Monday, January 15, 2024 Country United Kingdom Location Woking Business area Finance Department Finance Position level G - Qualified Senior Working time Full Time Contract type Permanent Working pattern 8:30am - 5:30pm Monday to Friday Background No restraints. No limitations. We don't simply push boundaries. We completely rethink them. McLaren Automotive exists to create breath-taking performance road cars. It takes a community to do what we do. A diverse group of people with many areas of expertise, united by their passion to deliver visionary products and set new benchmarks. McLaren Automotive commits to equal opportunity for all. Diversity, Equality and Inclusion is at the heart of our impact, it drives our innovation and enables us to truly create something special. Join us on our journey. Purpose of Role The Senior Cost Engineering role will be focused on a specific commodity area, and will be split across two key activities: Future programme and commodity cost estimation: This will involve preliminary cost analysis against very early technical concepts, supporting early Programme financial reporting and budget setting. This would be on both a component & system basis, as well as on a platform basis. As technical content & specifications mature, Senior Cost Engineers will also be required to undertake detailed bottom-up cost estimations, helping to ensure design-to-cost principles are upheld, whilst also supporting Supplier cost gap analysis, and the negotiation and nomination process. Working in tandem with the cross-functional Cost Reduction team, supporting any cost reduction activities with estimations and should costs to help identify and deliver cost reduction opportunities and initiatives across all vehicles within function group scope. Principal Accountabilities Support the business delivering detailed cost targets for sourcing strategy on future programs, as well as supporting on-going negotiations on current production vehicles, identifying key cost drivers and prioritising key discussion point with suppliers. Mandatory knowledge of creating cost estimates from base, without the aid of proprietary calculation software, having a scientific and demonstrable approach to the costing methodology assumptions. Support ad-hoc requests for cost breakdown verification and high-level costing for engineering changes. Lead categorising suppliers in the business by creating a map of supplier capabilities and capacities to ensure sourcing is done on Best-In-Class industry actors. Ensure productivity targets are defined with incumbent suppliers and negotiate along with the commodity team to guarantee its delivery. Lead lean manufacturing and productivity optimisation studies; resulting in actions to guarantee incumbent suppliers adhere to best manufacturing practises and process flow. Maintain and improve upon internal databases for materials, labour & facilities; tracking economic changes over time, ensuring up to date market data with verifiable sources. Develop and improve upon internally created tools and calculation templates to ensure consistency on the delivered estimates and guarantee continuity of costing practises. Create and present training material on manufacturing processes and commodities for new cost engineers, buyers and any other stakeholders involved. Knowledge, Skills and Experience Ability to work in highly competitive and driven environment. Have a structured approach and organised mindset to problem resolution. Comprehension of engineering designs and supplier quotations, being able to deduce misalignment on manufacturing processes and inconsistencies with market data. Proficiency using CAD system's visualisation software, identifying component materials, GD&T dimensional tolerances and be able to infer manufacturing process flow. Tailor costing assumptions based on low-volume scenarios, highly specialised manufacturing and limited industry participants. Ability to create side-by-side quotation comparisons and waterfalls, identifying key cost drivers, explaining cost gaps and prioritising areas of focus during supplier negotiations. Advanced knowledge of Microsoft Office Suite, with emphasis on datasets and calculation templates (Excel) & creating clear and visual reports to guide business stakeholders with punctual results (PowerPoint). Preferred knowledge on lean manufacturing, Kaizen and movement studies. Personal Attributes We recognise that we can only achieve our vision with the dedication and collaboration of our world class employees. At McLaren Automotive through our people, we are constantly looking to improve, just as we do with our Supercar development programmes. Aspiring to become the employer of choice in a fast paced and challenging environment. We currently offer a range of benefits to employees at all levels of the business including Private Healthcare, Contributory Pension Scheme, Life Assurance and Personal Lease Car Scheme. We also offer a range of discounts with our partner organisations. We would like to hear from you if you are a result driven, highly self-motivated, exceptional and enthusiastic performer with a passion for Purchasing.