Product Cost Specialist

Job Description

Job Description

About Us
Chefman is one of North America's leading brands of small kitchen appliances, committed to building best-in-class products that make cooking accessible and enjoyable. In 2020, we launched CHEF iQ an ecosystem of connected smart kitchen appliances designed to transform how the world cooks and connects through food. Through intuitive guided cooking experiences and IoT-enabled technology, we are redefining what it means to create great food effortlessly.

About the Role
We are seeking a self-driven Product Cost Specialist to support Chefman and CHEF iQ new product lines by developing accurate should-cost models throughout the product development process. At Chefman, we pride ourselves on delivering affordable innovation, ease of use, and a strong focus on the consumer experience.

In this role, you will work closely with our product development, engineering, and supply chain teams to understand product architecture, manufacturing methods, and component selection to define the lowest possible cost to produce a product. You will also serve as the primary commercial interface with our overseas manufacturing partners negotiating pricing, managing tooling budgets, and executing contractual agreements that protect Chefman's cost targets and margins. This is an exciting opportunity for someone who is curious about how products are made, enjoys problem solving, and is motivated by identifying cost optimization opportunities without compromising performance or consumer value.

Responsibilities

• Should-Cost Modeling & BOM Cost Tracking
• Develop and maintain accurate should-cost models that reflect the latest product definition, updating at each prototype build milestone
• Track the live Bill of Materials (BOM) cost vs. target cost as the engineering team iterates on design, flagging risks and opportunities in real time
• Review supplier-submitted CBOMs for accuracy and alignment with Chefman cost targets
• Generate a critical components list and work with supply chain to obtain competitive quotes
• Coordinate product details to generate ballpark cost estimates during the advanced development phase
• Deliver clear cost summary reports and presentations to cross-functional teams, highlighting where cost is concentrated and where savings opportunities exist

Factory Negotiation

• Negotiate piece-part pricing, assembly costs, scrap allowances, and factory margins directly with overseas manufacturing partners
• Offer design-for-cost suggestions to product and engineering teams to drive lowest possible landed cost without compromising quality or consumer value
• Work with product teams to conduct teardowns of competitive products to analyze materials, components, assembly methods, and manufacturing processes

Tooling Management

• Track tooling budgets across the product portfolio, ensuring spend is aligned with approved targets
• Negotiate tooling modification costs as design changes arise during development
• Manage tooling amortization schedules in coordination with finance and supply chain teams

Contractual Execution

• Draft, negotiate, and execute MOUs (Memorandums of Understanding) and PAs (Price Agreements) with external factory partners
• Ensure contractual alignment with internal stakeholders including engineering, supply chain, finance, and legal
• Maintain accurate records of all pricing agreements and contractual commitments across the supplier base

Cross-Functional Collaboration

• Prepare weekly project cost updates and participate in regular calls with China-based factory and cost teams
• Participate in product reviews, design hacks, and NPI milestone meetings
• Support getting complete product definitions created in collaboration with engineering and program management teams

Qualifications

• Bachelor's degree in Mechanical, Electrical, or Industrial Engineering
• 3–5 years of experience in cost engineering, manufacturing engineering, or product development within consumer products or high-volume production environments
• Demonstrated experience building and maintaining should-cost models with strong attention to detail
• Proficiency in Power BI for cost reporting, data visualization, and dashboard development
• Hands-on experience negotiating with Asia-based contract manufacturers on pricing, tooling, and contractual terms
• Knowledge of plastics, injection molding, tooling, electronics, assembly methods, decoration processes, and packaging
• Strong Microsoft Excel skills; experience building cost models and BOM trackers
• Intermediate proficiency in SolidWorks or CREO
• Familiarity with MOU and Price Agreement drafting and execution
• Strong presentation skills — able to deliver clear cost summaries and actionable recommendations to senior stakeholders
• Experience with IoT or connected consumer product manufacturing is a plus
• Ability to travel internationally to China-based manufacturing facilities as needed (approximately 20–30%)

What We Offer

• The opportunity to work on innovative connected kitchen appliances at a fast-growing consumer brand
• A collaborative, entrepreneurial environment where your work directly impacts product margins and commercial success
• Competitive compensation, benefits, and the chance to grow with a company redefining the kitchen experience

Salary Range (commensurate with experience)

$87,000—$100,000 USD