Posted on Oct 12th 2019

Industrial Cost Engineer


Full time



Posted on Oct 12th 2019


Full time



Job Title

Industrial Cost Engineer

Job Description

In this role, you have the opportunity to

For our Industrial Cost Engineering team, we are looking for an Industrial Cost Engineer, based in Shanghai, who provides integral business support to the Innovation organization in the development of Personal Health products (shaving, grooming, Mother&Child Care, Oral Health Care). You look at the scope from a technical, financial and organizational point of view. As an Industrial Cost Engineer Innovation, you are creating an insight of costs and processes and therefore are playing a key role in advising the management and project teams at the different businesses within Philips Personal Health.

You are responsible for

  • Building and understanding of cost structures of design concepts and products, evaluating design options to identify cost drivers, analyzing cost vs. benefit for optional scenarios and presenting the results for decision making.
  • Actively supporting cross-functional teams in driving design-to-value innovation and seeking cost-down opportunities of existing products by competitor analysis, value engineering and idea generating workshops.
  • You will initiate, participate or lead cost improvement and DfX project teams, always searching for new developments and alternatives, which can improve our product portfolios and have a great impact on the total business. Special focus for OEM/ODM supply based innovations and lifecycle projects to augment value and reduce product cost.
  • Supporting and challenging of the development/procurement/our own factory during the innovation process to develop and deliver solution according financial and technical goals, always with the Philips “first time right” approach in mind.
  • You will be involved in new innovation projects from the beginning to set up profitability analysis and investigating alternative scenarios to achieve our ambitious business goals
  • For the innovation and business teams you will be the adviser on all financial-technical related issues, e.g. evaluating the costs of internal versus external production, TCO analysis and supplier selection as well as analyzing the business case impact (on PnL and balance sheet) for different scenarios.
  • Further you will be responsible to create and share knowledge on local cost structures and cost drivers as well as market overviews and benchmarks (e.g. typical manufacturing processes, understanding of cost and rates per region).
  • Support the product benchmarking activities on the cost analysis.

You are a part of

Industrial Cost Engineering team. You will work closely together with the local innovation team in Shanghai but will also have close contact and alignments with the team in the Netherland.

To succeed in this role, you should have the following skills and experience

  • Master or Bachelor’s Degree in Engineering and/or Business
  • Minimum of 5 years’ experience in cost engineering and value engineering;
  • Deep understanding of the financial side of technical, innovation projects;
  • Seniority in behavior and experience to move and inspire others on different levels;
  • Practical knowledge of innovation processes and hands on mentality
  • Extended understanding of cost price and profitability calculation methods (incl.  cost prices calculations, business cases, P&L, Balance sheet)
  • Ability to quickly switch gears between detailed analyses and higher level processes;  
  • An ambitious team player with outstanding presentation and communication skills.

In return, we offer you

A path towards your most rewarding career. Philips is among one of the most innovative companies in the world. Developing in this world-class innovation organization opens many doors for your long term career. We also believe that we are at our best as a company when you are at yours as a person. Thus, we offer competitive health benefits, a flexible work schedule and access to local well-being focused activities.

Why should you join Philips?

Working at Philips is more than a job. It’s a calling to create a healthier society through meaningful work, focused on improving 2.5 billion lives a year by delivering innovative solutions across the health continuum. Our people experience a variety of unexpected moments when their lives and careers come together in meaningful ways. Learn more by watching this video.

To find out more about what it’s like working for Philips at a personal level, visit the Working at Philips page on our career website, where you can read stories from our employee blog. Once there,you can also learn about our recruitment process, or find answers to some of the frequently asked questions.


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Over 125 years ago, Frederik and Gerard Philips started a small light bulb company in Eindhoven. Little did they realize that it would become a global force of innovation, committed to improving billions of lives worldwide. But it did. Today, Philips is a world leading health technology company with a vision to make life better for people worldwide through meaningful innovation. Making good on this promise depends on our passionate, inspirational, collaborative and diverse team. We have over 80,000+ brilliant people around the world but are always looking for more. Like-minded, motivated, focused minds to join us in creating a healthier, more connected society while tranforming themselves personally and professionally. Working at Philips is more than a job. It's an experience filled with unexcepted moments that will transform you in lasting and positive ways. Help us improve the world for the better while building a career that no one could have planned for. Even you.




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