Industrial Cost Engineer

Industrial Cost Engineer

For our Industrial Cost Engineering (ICE) department supply Drachten we are looking for an Industrial Cost Engineer who provides integral business support from a technical, financial and organizational point of view for both production in Drachten as the Business Group in Amsterdam.

Your responsibilities

In this role, you will be responsible for analyzing, monitoring, and optimizing product and factory cost structures. You will play a key role in supporting operational decision-making and driving cost competitiveness across the site.

Key Responsibilities

• Develop and maintain Factory Cost Prices (FCP) and product cost calculations.
• Analyze cost breakdowns (material, direct labor, overhead, logistics).
• Support monthly closing activities related to cost analysis and variance reporting.
• Identify cost-saving opportunities and productivity improvements
• Perform scenario analysis (volume changes, rate updates, investments).
• Partner with Operations, Finance, Supply Chain, Engineering, and Procurement.
• Support budgeting, forecasting (AOP, FC), and long-term planning
• Contribute to cost transparency during new product introductions and transfers.

To succeed in this role, you should have the following skills and experience

• Master's degree in Finance, Engineering, Business, or related field
• 3–5 years of experience in cost engineering, controlling, or manufacturing finance.
• Strong analytical skills and attention to detail.
• Experience with ERP systems (SAP preferred).
• Advanced Excel skills.
• Understanding of manufacturing processes and cost drivers.
• Ability to work cross-functionally and communicate complex financial data clearly.
• Strong ownership mindset (high SAY–DO ratio).
• Structured and data-driven.
• Proactive problem solver.
• Resilient in a dynamic environment.
• Team player with strong stakeholder management skills.

We believe that we are better together than apart. This is an onsite role. Onsite roles require full-time presence in the company's facilities. 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 healthcare that we all deserve. Do the work of your life to help the lives of others.