Cost Management Engineer

Career Area: Engineering Job Description: Your Work Shapes the World at Caterpillar Inc. When you join Caterpillar, you're joining a global team who cares not just about the work we do – but also about each other.  We are the makers, problem solvers, and future world builders who are creating stronger, more sustainable communities. We don't just talk about progress and innovation here – we make it happen, with our customers, where we work and live. Together, we are building a better world, so we can all enjoy living in it. About the Role We are seeking a highly motivated Cost Modeling & Analysis Engineer with strong experience in product costing, cost modeling, and data analytics to support global product cost management initiatives. The position focuses on developing accurate cost models, analyzing cost drivers, improving cost visibility, and supporting business decisions through advanced analytics and digital solutions. The ideal candidate should possess expertise in manufacturing processes, product cost structures, and cost estimation methodologies, with exposure to digital technologies, automation, AI-enabled analytics, and sustainability assessments. Key Responsibilities Develop and maintain product cost models using industry-standard costing methodologies and digital cost management tools. Perform cost analysis to identify cost drivers, opportunities, trends, and variances across products and manufacturing processes. Support cost estimation activities for new product development, sourcing, and value engineering initiatives. Utilize Teamcenter Product Cost Management (TcPCM), aPriori, or similar costing tools to develop and validate cost models. Create dashboards, reports, and analytical solutions to improve cost visibility and business decision-making. Support automation and digital transformation initiatives using AI, machine learning, and data analytics technologies. Analyze manufacturing processes, material costs, labor costs, and supply chain impacts to improve cost competitiveness. Partner with engineering, procurement, manufacturing, and business teams to ensure accuracy and consistency of cost data. Contribute to sustainability and carbon footprint assessments to support cost and environmental improvement initiatives. Assist in knowledge sharing, user enablement, and continuous improvement activities within the cost management function. Qualifications Bachelor's or Master's degree in Engineering, Manufacturing, Mechanical Engineering, Data Analytics. 5 to 8 years of experience in Product Costing, Cost Modeling, Should-Cost Analysis, or Manufacturing Cost Engineering. Strong understanding of manufacturing processes, cost structures, BOM analysis, and supply chain cost drivers. Experience with costing tools such as Siemens Teamcenter Product Cost Management (TcPCM) , aPriori , or similar platforms. Proficiency in data analytics tools such as Power BI , SQL , Python , or equivalent analytics platforms. Exposure to AI/ML technologies and automation solutions for cost estimation and analytics is preferred. Understanding of sustainability, carbon footprint analysis, and cost optimization strategies is an added advantage. Strong analytical thinking, problem-solving, collaboration, and communication skills. Preferred Skills Product Costing Teamcenter PCM / aPriori Cost Analytics & Dashboard Development Power BI / SQL / Python AI-Enabled Cost Estimation Value Engineering & Cost Reduction Sustainability & Carbon Footprint Analytics   Posting Dates: September 21, 2026 - October 4, 2026 Caterpillar is an Equal Opportunity Employer.  Qualified applicants of any age are encouraged to apply Not ready to apply? Join our Talent Community .