Cost Engineer - The Toro Company

Who Are We?

The Toro Company is a homegrown, Minnesota-based company that has been in business since 1914. We pride ourselves on providing world class equipment to help maintain the environment that we love, while putting an emphasis on giving back to the communities that surround us. From residential lawns and gardens, to venues such as St. Andrews Links and Target Field, we are a company with a global footprint and a passion for helping people beautify whatever landscape they may be in. With 100 years of operation under our belt and an average employee tenure of 15 years, come find out what makes The Toro Company the best place in the Twin Cities to build a career.

The Cost Engineer is responsible for supporting the business by developing, analyzing and documenting product cost estimates, by budgeting, planning and monitoring key investments and by actively participating in new product development (NPD), design and cost improvement (DCI), maintenance, make vs. buy and other special projects seeking to optimize the balance between cost, quality and time requirements.

What Will You Do?

In order to grow and build a successful career with The Toro Company, you will be responsible for:

• Offers sound cost information and options when design choices are being made including value engineering, design for manufacture and assembly (DFMA), in-house and supplier capabilities, materials utilization and design alternatives for value optimization. Manages product cost to target on projects with moderate complexity.
• Sets the future cost estimate of the item when production is estimated to begin that will be used by the enterprise for ROI calculations and decision making. Prepares supporting documentation (cost estimates/tooling budgets) for project milestones.
• Provides analyzed cost data to Division Engineering, Plant Engineering, Marketing, and Finance for use in determining project direction, product pricing, parts pricing, budgeting, and internal rate of return investment calculations for new and current products.
• Coordinates regular interaction with suppliers, strategic sourcing, advanced manufacturing engineers, manufacturing engineers, industrial engineers, design engineers and other resources in order to retain leading edge knowledge of processes available to The Toro Company.
• Provides leadership in the area of cost avoidance, cost reduction, and standardization.
• Provides cost estimating and pricing proposal development, with an understanding of the cost estimating model and knowledge in development of product, labor, freight and assembly rates and their interconnectedness.
• Assists in project tooling budgets. Utilizes ROI models to ensure tooling investment returns are consistent with project goals.
• Administers product costing models and standardized costing procedures.
• Perform other duties as assigned.

What Do You Need?

To be considered for this role, an individual should meet the following minimal requirements:

• Degree (B.A. or B.S.) in engineering/industrial technology discipline, finance or a related field. Advanced degrees and financial certification preferred.
• Level I = 1-3 years experience in costing future product, product development or cost related positions.
• Level II = 3+ years experience in costing future product, product development or cost related positions.
• Experience in project management and strong organizational skills.
• Ability to read, comprehend and apply engineering specifications and blue prints.
• Moderate understanding of manufacturing processes, bills of materials, product structures.
• Demonstrated knowledge of value engineering and DFMA principals.
• Demonstrates strong analytical and problem-solving skills.
• Curious learner, self-starter with a continuous improvement mindset. Looks for ways to streamline and improve processes.
• Strong written, verbal and interpersonal communication skills to team with and provide influential leadership to the business
• Advanced Excel skills with knowledge of Outlook, PowerPoint and Word. SAP Experience preferred.
• Ability to work successfully in a fast-paced dynamic organization with changing needs.

Other Job-Related Components:

• Hybrid office work environment, averaging three days in the office specifically determined by the support of the business activities and one specified day for team collaboration.
• Up to 10% travel required.

What Can We Give You?

At The Toro Company, we are always working to make sure our employees know just how valued they are. In addition to a competitive salary, an affordable and top tier medical/dental/vision plan, 401k, and many other great benefits - The Toro company offers employees at our Bloomington, MN HQ location a variety of perks, including:

Dress for your day - We know you're more productive when you're comfortable, which is why TTC employees are encouraged to take advantage of our casual, corporate environment.

Location - Conveniently located near both St. Paul and Minneapolis, we are centrally located for most commuters!

Food - Take advantage of our onsite cafe, which serves both breakfast and lunch. With a Caribou Coffee attached, you can grab a snack and a coffee at any time during your day.

Wellness - The Toro Company's HQ offers complimentary use of our onsite fitness facility to employees. In addition to physical wellbeing, TTC offers a variety of mental health and financial health resources to all employees.

Volunteerism - The Toro Company is proud to provide employees 20 hours of paid time to volunteer in the community.

Summer Hours - Enjoy a flexible schedule during the summer! By working a little more during the first few days of the week, TTC employees at our Bloomington HQ are able to start their weekends early and leave by noon on Friday.

Flexible Work Arrangements - This team is currently implementing a hybrid work schedule. The opportunity to collaborate in the office and work from home part-time, has promoted team-building and flexibility. #LI-Hybrid

Competitive Salary - The pay range takes into account skills, experience, education, and location. It is not common to be hired at or near the top of the range; compensation decisions are dependent on the facts and circumstances of each case. Salary compensation is one piece of our competitive total rewards package.

We are proud to be an Equal Opportunity Employer and consider qualified applicants without regard to race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), parental status, national origin, age, disability, genetic information (including family medical history), political affiliation, military service, or other non-merit based factors. We celebrate diversity and are committed to creating an inclusive environment for all employees.