Sr. Cost Optimization Project Manager

The Sr. Cost Optimization Project Manager is responsible for leading and delivering cost reduction (“cost-out”) initiatives across operations, engineering, and the product lifecycle. The role ensures that strategic cost optimization objectives are achieved while maintaining product quality, regulatory compliance, and supply continuity. This position will drive initiatives focused on margin expansion, value engineering, process efficiency, and supply chain optimization. The individual must be able to balance trade-offs between cost, quality, and timeline while upholding the highest standards of product safety and performance in a regulated medical device environment. ### 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 **Education:** - Bachelor’s degree in Engineering, Operations, Supply Chain, or related technical field required. **Experience:** - 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. **Functional/Technical Knowledge, Skills and Abilities Required:** - 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.