Manufacturing Cost Engineer

581054 Manufacturing Cost Engineer

Play a critical role at the intersection of manufacturing, engineering, and finance by driving accurate product costing, data integrity, and commercial decision support within our Ultrasound business.

Your role:

• You will serve as the key link between Manufacturing Engineering and Finance, ensuring accurate product costing, commercial pricing inputs, and financial alignment across factory operations.
• You will manage and maintain cost-related master data in SAP and PDLM, ensuring accuracy across Bills of Materials (BOM), subassemblies, and configurable product structures.
• You will analyze supplier quotations, material costs, and overhead allocations to support cost optimization, pricing strategies, and make-versus-buy decisions.
• You will develop cost models, support business cases, and provide final validation/approval of factory costs to ensure financial accuracy and alignment with commercial expectations.
• You will partner cross-functionally with engineering, supply chain, procurement, and finance teams to prioritize workstreams, improve processes, and drive data-driven decision making.

You're the right fit if:

• You’ve acquired 2+ years of experience in project engineering, manufacturing, costing, or a related field, ideally within a production or operations environment.
• Your skills include product costing (BOM structures, subassemblies, overhead vs. material costs), data management, and process optimization, with strong attention to detail. You have experience working with SAP and/or PDLM systems, with a solid understanding of master data and system-driven cost structures.
• You have a Bachelor’s degree in Engineering (Industrial, Mechanical, Systems, or similar) or equivalent, with a strong interest in finance, costing, or commercial operations.
• You must be able to successfully perform the following minimum Physical, Cognitive and Environmental job requirements with or without accommodation for this position.
• You’re a highly collaborative professional with strong interpersonal skills, capable of working cross-functionally, prioritizing competing demands, and adapting to evolving business needs.

How we work together

We believe that we are better together than apart. For our office-based teams, this means working in-person at least 3 days per week. Onsite roles require full-time presence in the company’s facilities. Field roles are most effectively done outside of the company’s main facilities, generally at the customers’ or suppliers’ locations.

This is an office role.

About Philips:

We are a health technology company. We built our entire company around the belief that every human matters, and we won't stop until everybody, everywhere, has access to the quality of healthcare that we all deserve. Do the work of your life to help improve the lives of others.

• Learn more about our business.
• Discover our rich and exciting history.
• Learn more about our purpose.
• Learn more about our culture.

Philips Transparency Details

The pay range for this position in Cambridge, MA is $79,000 to $124,000

The actual base pay offered may vary within the posted ranges depending on multiple factors including job-related knowledge/skills, experience, business needs, geographical location, and internal equity.   

In addition, other compensation, such as an annual incentive bonus, sales commission or long-term incentives may be offered.  Employees are eligible to participate in our comprehensive Philips Total Rewards benefits program, which includes a generous PTO, 401k (up to 7% match), HSA (with company contribution), stock purchase plan, education reimbursement and much more.  Details about our benefits can be found here. 

At Philips, it is not typical for an individual to be hired at or near the top end of the range for their role and compensation decisions are dependent upon the facts and circumstances of each case. 

Additional Information

US work authorization is a precondition of employment. The company will not consider candidates who require sponsorship for a work-authorized visa, now or in the future.

Company relocation benefits will not be provided for this position.  For this position, you must reside in or within commuting distance to Cambridge, MA.

#EOS

This requisition is expected to stay active for 45 days but may close earlier if a successful candidate is selected or business necessity dictates.  Interested candidates are encouraged to apply as soon as possible to ensure consideration.

Philips is an Equal Employment and Opportunity Employer including Disability/Vets and maintains a drug-free workplace.