Senior Product Cost Engineer

Overview ENERPAC TOOL GROUP – Who we are? Enerpac Tool Group Corp. is a premier industrial tools, services, technology, and solutions provider serving a broad and diverse set of customers in more than 100 countries. The Company makes complex, often hazardous jobs possible safely and efficiently. Enerpac Tool Group’s businesses are global leaders in high pressure hydraulic tools, controlled force products, and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Milwaukee, Wisconsin. Enerpac Tool Group common stock trades on the NYSE under the symbol EPAC. For further information on Enerpac Tool Group and its businesses, visit the Company's website at https://www.enerpactoolgroup.com/. Summary – basic function of the role We are looking for an experienced Senior Product Cost Engineer to help establish and develop Enerpac’s Product Cost Engineering capability. This is a strategic, hands-on engineering role focused on identifying and delivering sustainable product cost reductions, supporting supply chain savings initiatives, and embedding Design-to-Cost principles throughout the product lifecycle. Combining strong mechanical engineering expertise with a commercial and analytical mindset, you will lead complex Value Analysis / Value Engineering (VAVE) initiatives across Enerpac’s product portfolio. You will identify cost reduction opportunities through product redesign, component standardization, material optimization, alternative manufacturing processes, and supplier solutions, while ensuring product performance, quality, safety, and reliability are maintained. Working closely with Engineering, Supply Chain, Category Management, Operations, and suppliers, you will challenge existing designs and specifications, develop technically robust cost-down solutions, and support their implementation through engineering change and validation processes. As the first dedicated resource within this capability, you will also play an important role in establishing Product Cost Engineering tools, methodologies, and best practices that can be scaled across Enerpac globally. Job Duties and Responsibilities Identify, develop, and lead engineering-led product cost reduction opportunities across existing product portfolios. Lead VAVE projects from opportunity identification and concept development through validation, engineering change, and implementation. Develop cost-down concepts through product redesign, component standardization, material optimization, alternative manufacturing processes, and supplier solutions. Analyze product designs, BOMs, manufacturing processes, and specifications to identify key cost drivers and optimization opportunities. Build technically robust business cases and quantify potential and realized cost savings. Establish cost as a key engineering design parameter and support the implementation of Design-to-Cost principles. Define and monitor cost targets at component, subsystem, and product level. Promote Design for Manufacture and Assembly (DFMA) principles across product development and engineering activities. Facilitate structured VAVE and cost reduction workshops with Engineering, Supply Chain, Operations, and other key stakeholders. Partner with Category Management and Supply Chain teams to provide technical support for supplier re-sourcing and savings initiatives. Evaluate alternative materials, suppliers, components, and manufacturing processes while assessing associated technical and commercial risks. Generate engineering concepts, calculations, drawings, specifications, and product modifications as required. Manage engineering changes through established product development, PLM, validation, and release processes. Ensure proposed changes maintain required safety, regulatory, quality, reliability, and product performance standards. Support product testing, validation, and qualification activities associated with cost reduction initiatives. Build and maintain a prioritized pipeline of VAVE and cost optimization opportunities. Develop Product Cost Engineering tools, templates, metrics, and methodologies, including should-cost and cost modelling approaches. Track implemented initiatives and support validation of realized savings. Help establish Product Cost Engineering as a scalable global technical capability within Enerpac. Skills and Competencies Strong mechanical engineering and product design capability within an industrial or manufacturing environment. Demonstrated ability to identify and deliver measurable product cost reductions. Strong knowledge and practical application of VAVE, Design-to-Cost, DFMA, and product cost optimization methodologies. Strong understanding of manufacturing processes, ideally including several of the following: Machining Casting Forging Fabrication Injection molding Hydraulics Assembly processes Supplier manufact