Costing Engineer

3 weeks ago

New Delhi, India Careerfit.ai Full time

Responsibilities:

  • Analyze product designs, specifications, and manufacturing processes to estimate the cost of materials, labor, and overhead for new and existing products.
  • Develop cost models, databases, and tools to calculate and track product costs throughout the product lifecycle, from concept to production.
  • Collaborate with design engineers, procurement teams, and suppliers to optimize product designs, reduce costs, and improve cost-effectiveness.
  • Conduct cost analyses, value engineering studies, and should-cost assessments to identify cost drivers, cost-saving opportunities, and areas for improvement.
  • Participate in cross-functional teams and design reviews to provide cost-related insights, recommendations, and cost-effective alternatives.
  • Monitor market trends, commodity prices, and industry benchmarks to ensure cost estimates are accurate, competitive, and aligned with market dynamics.
  • Prepare cost reports, presentations, and proposals for management, stakeholders, and customers, highlighting cost projections, savings initiatives, and cost reduction strategies.
  • Support negotiations with suppliers, vendors, and subcontractors to achieve cost targets, quality standards, and delivery timelines.

Requirements:

  • Bachelor's or Master's degree in Mechanical Engineering, Industrial Engineering, or related field.
  • Proven experience as a costing engineer, cost estimator, or related role in manufacturing or engineering.
  • Strong analytical skills and proficiency in cost estimation methods, tools, and techniques.
  • Knowledge of manufacturing processes, materials, and supply chain management principles.
  • Proficiency in spreadsheet software (e.g., Microsoft Excel) and cost estimation software.
  • Excellent communication skills, with the ability to present complex cost data and analyses to diverse audiences.
  • Detail-oriented, organized, and able to prioritize tasks in a fast-paced environment.

Skills:

  • Cost Estimation: Analyzing product designs, manufacturing processes, and materials to estimate product costs.
  • Data Analysis: Collecting, organizing, and analyzing cost data to identify trends, patterns, and cost-saving opportunities.
  • Collaboration: Working collaboratively with cross-functional teams, suppliers, and stakeholders to optimize product costs.
  • Problem-Solving: Identifying cost drivers, proposing cost-saving initiatives, and implementing cost reduction strategies.
  • Communication: Clearly communicating cost estimates, analysis results, and recommendations to management and stakeholders.

Preferred:

  • Experience in automotive, aerospace, or manufacturing industries.
  • Certification in cost estimation or related field.

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