Product Engineer - Cost Reduction

About Us

IBC Technologies Canada is a leading manufacturer of high-efficiency boilers and water heaters for residential and commercial use in North America. As a proud member of the Rheem Manufacturing Company's family of brands, we are committed to bringing reliable comfort into people's lives while working towards a more sustainable future. Since 1995, IBC has been at the forefront of innovation in the heating industry.

At IBC, we are dedicated to creating lasting, positive change in people and the environment. We strive to be the leader in energy-efficient water heating and the solution of choice for our customers. Our team is passionate, inclusive, and respectful, and we strive daily to embody our core values. Accountability, integrity, quality of work and interactions, openness, and teamwork define who we are at IBC, and we attribute our success to the strength of these values.

Position Title: Product Engineer - Cost Reduction

Position Summary

The Product Engineer - Cost Reduction will identify, analyze, and implement cost-saving initiatives across our organization. Your expertise in project management, data analysis, alternative component validation, and product redesign will drive efficiency and reduce expenses.

You will collaborate with cross-functional teams to identify areas of improvement and implement projects that deliver measurable results. The ideal candidate has a strong background in engineering principles, a keen eye for detail, and a passion for continuous improvement in a manufacturing environment.

Location: Burnaby, BC

Reporting to: Engineering Manager

Essential Functions

· Lead cost reduction projects from start to finish to ensure IBC products are optimized for cost and manufacturability.

· Work in cross-functional teams, including Product Engineering, Manufacturing, Quality, and Purchasing.

· Manage and maintain project scope, schedules, tasks, priorities, and risk.

· Work closely with Suppliers to communicate critical specifications and manufacturing needs.

· Conduct detailed analyses of existing processes, systems, and procedures to identify cost-saving opportunities.

· Lead and manage cost improvement projects from initiation to completion, ensuring project goals are achieved within the defined timeline and budget.

· Conduct thorough cost analyses, including cost breakdowns, cost-benefit analysis, and return on investment (ROI) calculations, to support project proposals and decision-making.

· Develop and implement cost reduction initiatives, such as waste reduction and product redesign.

· Collaborate with suppliers to identify cost-saving opportunities.

· Monitor project progress, track key performance indicators (KPIs), and regularly update stakeholders on cost-improvement initiatives.

· Identify and implement best practices and standardization opportunities to drive cost efficiencies and improve overall operational performance.

· Train and educate employees on cost-improvement methodologies.

· Stay current with industry trends and best practices related to cost reduction and process optimization.

· Performs other duties as assigned.

Qualifications

Education:

· Bachelor's degree in mechanical engineering.

· Professional certifications in project management, Lean Six Sigma, or related fields are a plus.

Work Experience:

· Minimum 3 years of experience as a Project Engineer, Process Engineer, or Product Development Engineer, preferably in a manufacturing or industrial environment.

Knowledge, Skills, & Abilities:

· Strong analytical and problem-solving skills with the ability to analyze complex data, identify trends, and develop practical solutions.

· Knowledge of cost reduction methodologies.

· Excellent project management skills, including prioritizing tasks, managing timelines, and allocating resources effectively.

· Strong communication and interpersonal skills to collaborate with cross-functional teams and stakeholders at all levels of the organization.

· Results-oriented mindset focusing on achieving measurable cost reductions and process improvements.

· Familiarity with manufacturing processes.

· Ability to work independently and as part of a team in a fast-paced and dynamic environment.

· Willingness to adapt to changing priorities and embrace new technologies and methodologies.