Costing Engineer
4 weeks ago
As a Costing Specialist at Molex, you will be responsible for managing and optimizing product costing processes. This role requires meticulous attention to detail, a deep understanding of manufacturing operations, and the ability to analyze cost data to drive informed decision-making. The Costing Specialist will own complete accountability for product costing and contribute to our organization's overall profitability and competitiveness.
Our Team
Our team works with customers/clients to understand their requirement and deliver accordingly.
What You Will Do
1. Product Costing: Calculate and analyze the cost of cable assembly products through working with Cross functional teams like Engineering, MIE and sourcing, ensuring accuracy and completeness. Develop cost models for new products and monitor cost changes for existing products.
2. Cost Analysis: Conduct thorough cost analysis to identify areas for cost reduction and efficiency improvement. Collaborate with cross-functional teams to implement cost-saving initiatives.
3. Cost Reporting: Prepare and present cost reports to management, summarizing cost drivers, variances, and trends. Provide insights and recommendations for cost control and optimization.
4. Maintain and update BOMs, ensuring accuracy and consistency. Work closely with engineering and production teams to validate BOM data.
5. Cost Tracking: Monitor and track actual costs against budgeted costs. Investigate and explain any discrepancies, ensuring alignment with financial goals.
6. Evaluate supplier costs and negotiate favorable terms with sourcing team. Identify opportunities to optimize and reduce procurement costs.
7. Continuous Improvement: Identify opportunities for process improvement and automation in costing procedures to enhance efficiency and accuracy.
Who You Are (Basic Qualifications)
1. Minimum of 3-5 years of experience in product costing within a manufacturing environment, preferably in cable assembly or a related industry.
2. Proven experience as a Costing Specialist or similar role in a manufacturing environment.
3. Strong analytical skills with the ability to work with large datasets and costing software.
4. Proficiency in using ERP systems and advanced Excel skills.
What Will Put You Ahead
1. Excellent communication and presentation skills to convey complex cost data to non-finance stakeholders.
2. Detail-oriented and highly organized with the ability to meet deadlines and manage multiple projects simultaneously.
3. Knowledge of industry-standard costing methodologies and best practices.
4. Strong problem-solving skills and a proactive approach to cost optimization
At Koch companies, we are entrepreneurs. This means we openly challenge the status quo, find new ways to create value and get rewarded for our individual contributions. Any compensation range provided for a role is an estimate determined by available market data. The actual amount may be higher or lower than the range provided considering each candidate's knowledge, skills, abilities, and geographic location. If you have questions, please speak to your recruiter about the flexibility and detail of our compensation philosophy.
Who We Are
At Koch, employees are empowered to do what they do best to make life better. Learn how our business philosophy helps employees unleash their potential while creating value for themselves and the company.
Additionally, everyone has individual work and personal needs. We seek to enable the best work environment that helps you and the business work together to produce superior results.
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