Philips Cost Engineer in Latham, New York

Position Objective

Responsible for understanding and contributing to the reduction of production cost (cost price) of our products/magnets by helping realize productivity ambitions in the annual operating and strategic plan by actively partnering with Latham Operations, Procurement and R&D Teams. In order to realize the ambitions you will need to balance cost reduction opportunities with investments required and consequences for manufacturability, quality, time-to-market, and performance specs of the Magnets from a value creation mindset.

Position Responsibilities

Partner with Operations, R&D and Procurement teams to drive cost reduction efforts in the area of Landed Costs (conversion cost, bill of material, distribution and operating variances such as scrap and obsolescence).

Perform business case calculations for the various cost saving ideas in an effort to understand risk and return.

Be discussion partner with business leadership to realize product cost saving opportunities and provide decision support which product cost reduction opportunities to pursue based on business case calculations.

Support NPI with long range product cost estimates and cost target achievement support (e.g. Sealed Magnet introduction).

Calculate Conversion cost (MOH) productivity and report realized cost savings and the impact on overall Landed Costs.

Keep track of Magnet cost price development and drive cost down in line with SPOR, AOP and Rofo targets.

Verify product standard cost updates and bridge quarter to quarter changes.

Analyze Absorption accounting and how production volumes are translated into P&L. Ensure quality of absorption forecasts based on quantities produced.

Work with commodity procurement teams to understand and incorporate into product cost the impact of commodities such as helium, copper, NbTi and stainless steel.

Calculate and/or verify overhead and labor rates.



The position reports to MR Operations Controller and gets daily direction from site Controller providing support to Latham Operations, Procurement and R&D Team in driving landed costs productivity, quality and delivery performance.

Our offer

We welcome you to a dynamic, global, multi-cultural, challenging, innovative environment with great opportunities for growth in the current role but also in roles in adjacent areas like R&D, Operations, Finance and other functions of the business.

We are looking for

Bachelor’s degree required, Masters preferred

Strong affinity with numbers; being able to translate numbers to business context and consult on business decisions with all functional teams

Basic accounting knowledge and willingness to learn related policies (e.g. overhead rate calculations)

Ability to interact with a multitude of stakeholders from different backgrounds and knowledge levels to come to overall business case and decision criteria to support management decisions within the timeframe requested

Strong in Excel, SAP knowledge preferred.

Willingness to learn SAP for management of prices in SAP and tracking and reporting of other responsibilities mentioned above

5+ years’ experience in either of following areas and willingness and ability to learn in the others: successful business partnering or alike with multiple stakeholders, preparing business cases or alike for decision support, knowledge of a medical device and how components interact, working with SAP (e.g. price maintenance), working with Excel for reporting and analysis of different sorts

Operations and/or financial background preferred

Philips is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex (including pregnancy), sexual orientation, gender identity, national origin, genetic information, creed, citizenship, disability, protected veteran or marital status.

As an equal opportunity employer, Philips is committed to a diverse workforce. In order to ensure reasonable accommodation for individuals protected by Section 503 of the Rehabilitation Act of 1973, the Vietnam Veterans' Readjustment Act of 1974, and Title I of the Americans with Disabilities Act of 1990, applicants that require accommodation in the job application process may contact 888-367-7223, option 5, for assistance.