Senior Should Costing Engineer

2 days ago

Bengaluru, Karnataka, India GEA Group Full time ₹ 9,00,000 - ₹ 12,00,000 per year
Senior Should Costing Engineer

Responsibilities / Tasks

The Should Costing Specialist is responsible for developing detailed cost models for components, assemblies, and systems, providing fact-based cost transparency to support supplier negotiations, and driving cost optimization across the organization. The role works cross-functionally with Procurement, Engineering, Production and Finance teams to enable informed decision-making and promote cost awareness.
 

1. Should Cost Analysis

  • Develop and maintain should-cost models for components, assemblies, and systems.

  • Analyze material costs, manufacturing processes, labor, tooling, logistics, and overheads.

  • Use industry benchmarks, market analysis, and cost databases to derive accurate cost estimates.

2. Support for Supplier Negotiations

  • Identify cost drivers and cost-saving opportunities in supplier quotations.

  • Provide detailed cost breakdowns to support procurement in negotiation strategies.

  • Participate as a technical cost expert in supplier discussions, when required.

3. Cost Transparency & Reporting

  • Compare supplier prices and actual costs with internal target costs.

  • Highlight deviations and conduct root cause analysis for cost variances.

  • Prepare clear reports, cost comparison charts, and presentations for management and internal stakeholders.

4. Cross-Functional Collaboration

  • Collaborate closely with Procurement, Engineering, Production, and Controlling teams.

  • Support decisions related to supplier selection, make-or-buy analysis, and technology choices.

  • Act as an internal consultant on cost-related topics.

5. Data Management

  • Develop and maintain a centralized cost database for reference and future use.

  • Ensure consistent documentation of calculation methods, assumptions, and results.

  • Provide regular cost reporting and KPIs to management and stakeholders.

6. Continuous Improvement

  • Identify and implement best practices in should costing and cost transparency.

  • Drive cost optimization initiatives and promote cost awareness across departments.

  • Conduct internal training sessions on cost calculation and cost-saving methodologies.

Your Profile / Qualifications

  • Bachelor's or Master's Degree in Mechanical Engineering, Industrial Engineering, or equivalent.

  • 8 - 10 years of experience in cost engineering, should costing, value analysis, or manufacturing engineering.

  • Mandatory software knowledge: TCPCM (Teamcenter Product Cost Management) – hands-on experience in building cost models using TCPCM is required.

  • Strong understanding of manufacturing processes (machining, fabrication, casting, sheet metal, etc.).

  • Solid knowledge of cost elements in materials, process times, logistics, tooling, and overheads.

  • Proficiency in MS Excel and ERP systems (e.g., SAP).

  • Strong analytical skills with ability to interpret cost data and present findings.

  • Effective interpersonal and communication skills, with the ability to work cross-functionally.

  • Experience supporting supplier negotiations or procurement is an added advantage.

Did we spark your interest?
Then please click apply above to access our guided application process.

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