Sr. Cost Optimization Project Manager

Key Responsibilities

• Lead and execute cost optimization (cost-out) programs including value engineering, design-to-cost, and process improvement initiatives.
• Identify, prioritize, and deliver cost savings opportunities across manufacturing, supply chain, and product design.
• Develop and manage detailed program plans, including scope, timelines, financial targets, and resource allocation.
• Partner with cross-functional teams (Engineering, Operations, Supply Chain, Quality, Regulatory, Finance) to assess and implement cost reduction strategies.
• Drive product cost reduction initiatives across the product lifecycle, including sustaining engineering and legacy product optimization.
• Manage day-to-day execution of cost-out projects, ensuring delivery of savings targets on time and within scope.
• Analyze cost structures (BOM, labor, overhead, supplier pricing) to identify opportunities for efficiency and savings.
• Facilitate supplier cost reduction initiatives including negotiations, resourcing, and design changes in partnership with procurement.
• Lead trade-off analyses to ensure cost reduction initiatives do not adversely impact product quality, performance, or compliance.
• Track, report, and communicate cost savings metrics, forecasts, and risks to stakeholders and leadership.
• Identify and remove barriers to execution, ensuring alignment across teams and timely decision-making.
• Ensure all initiatives comply with Design Controls, Quality Management System (QMS), and applicable regulatory standards.
• Support continuous improvement culture through Lean, Six Sigma, and other operational excellence methodologies.
• Develop scalable processes and governance for ongoing cost optimization efforts.

Skills Knowledge and Expertise

• Bachelor’s degree in Engineering, Operations, Supply Chain, or related technical field required.

• Minimum of 6–8 years of experience in medical device, healthcare manufacturing, or highly regulated industry.
• Minimum of 2–5 years leading cross-functional programs or projects.
• Proven experience leading cost reduction / cost-out initiatives and delivering measurable savings results.
  
  

• Demonstrated success driving cost optimization programs with quantifiable financial impact.
• Strong project/program management skills, including planning, risk management, and execution.
• Deep understanding of manufacturing processes, supply chain, and product cost drivers.
• Experience with value engineering, design-to-cost, and supplier cost reduction strategies.
• Ability to influence and lead cross-functional teams without direct authority.
• Strong financial acumen, including cost modeling, ROI analysis, and savings tracking.
• Excellent communication and stakeholder management skills (executive-level reporting required).
• Working knowledge of ISO standards, FDA regulations, and Design Controls within the medical device industry.