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Greater Peoria, IL
Greater Peoria, IL

Product Cost Team Leader - Peoria, IL



Peoria, IL, USA
Posted on Thursday, November 16, 2023

Career Area:


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.

We currently have an exciting and impactful career opportunity for you to join our Medium Wheel Products (MWP) team as a Product Cost Team Leader (Internally known as Engineering Project Team Leader). This role will lead end-to-end cost initiatives ensuring the Medium Wheel Product business continues to be lean and competitive. If you are looking for a challenging role, this is a great opportunity to utilize technical, business, and communication skills in a non-supervisory leadership role.

As a Product Cost Team Leader, you will lead a team of cost project leaders located at each of our prime product facilities. Your primary focus will be to mentor and lead the cost team to achieve long-term End-to-End competitive cost structure goals. This involves collaborating with the global extended Medium Wheel Product team including business resources, engineering, manufacturing, commercial and supply chain to develop targets, identify projects to close gaps, and report out to leadership. Also, you will define and manage long-term competitive worldwide product cost targets and lead the cost Obeya process. You will also stay abreast of innovations in Cat and competitive products to identify new opportunities and coach engineering teams on competitive cost structures and objectives.

Responsibilities include but are not limited to:

  • Developing world-wide competitive-based product cost targets by collaborating with global cost team members, business resources, and engineering to achieve global competitive cost positions.
  • Developing and maintaining competitive, external product cost comparisons
  • Coordinating and maintaining full MWP cost bill of material with engineering and business resources
  • Leading cross-functional teams on global, high value cost reduction projects that will enable MWP to achieve cost reduction targets
  • Lead the Medium Wheel Product Cost Obeya, reporting to leadership the current state of our product costs, our line of sight to achieve target, and the actions in-process to achieve our cost goals.
  • Lead a team of regional cost project leaders to achieve end-to-end competitive cost structure goals by setting project-level vision and objectives to close the gap to target.
  • Ensuring accurate and timely cost reporting

Required Qualifications:

  • Bachelor’s degree in an accredited Engineering, Computer Science, Materials Science or Business Curriculum
  • Extensive and progressive of relevant work experience in one or more of the following:
    • Product, system, component design, product cost inputs, accounting methodologies and tracking metrics.
  • Ability to think strategically to develop future solutions combined with the ability to execute on multiple high risk and high-cost projects.

Top candidates will also bring (Desired Qualifications):

  • High level of verbal and written communication skills; an ability to see the big picture; the ability to prioritize and manage multiple projects concurrently with a diverse global team.
  • Experience with data analysis, manipulation, and relevant tools (Excel, PowerBi, Tableau, etc.).
  • Project management experience with projects across multiple disciplines (engineering, manufacturing, supply chain).
  • Proven team leadership, communication, and collaboration skills
  • Proven ability to work well with a diverse global team

Additional Info:

  • Onsite 3 days per week in Peoria, IL
  • International travel required (10-15%)
  • Domestic relocation is available for this position
  • Visa sponsorship is not available

Your Work Shapes the World:

Whether it be groundbreaking products, best in class solutions or creating a lifelong career, you can do the work that matters at Caterpillar. With a 95-year legacy of quality and innovation and 150 locations in countries around the world, your impact spans the globe.

When you join Caterpillar, you are joining a team of makers, innovators and doers. We are the people who roll up our sleeves and do the work to build a better world. We don’t just talk about progress and innovation. We make it happen. And we are proud of that, because it helps our customers build and power the world we live in – the roads, hospitals, homes and infrastructure. Without a dedicated workforce Caterpillar could not effectively meet our customer’s needs. Join us.

Employee benefit details:

Our goal at Caterpillar is for you to have a rewarding career. Our teams are critical to the success of our customers who build a better world.

Because we value your performance, we offer a total rewards package that provides day one benefits (medical, dental, vision, RX, and 401K) along with a short-term incentive plan.

Additional benefits include paid vacation days and paid holidays (prorated based upon hire date).

Final details:

Please frequently check the email associated with your application, including the junk/spam folder, as this is the primary correspondence method. If you wish to know the status of your application – please use the candidate log-in on our career website as it will reflect any updates to your status.

This employer is not currently hiring foreign national applicants that require or will require sponsorship tied to a specific employer, such as H, L, TN, F, J, E, O. As a global company, Caterpillar offers many job opportunities outside of the U.S. which can be found through our employment website at

#LI-Hybrid #Costcareers

Visa Sponsorship is not available for this position. This employer is not currently hiring foreign national applicants that require or will require sponsorship tied to a specific employer, such as, H, L, TN, F, J, E, O. As a global company, Caterpillar offers many job opportunities outside of the U.S which can be found through our employment website at

EEO/AA Employer. All qualified individuals - Including minorities, females, veterans and individuals with disabilities - are encouraged to apply.

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