Costing Engineer

5 days ago

Bengaluru, Karnataka, India Innovation and Automation (I&A) Full time ₹ 9,00,000 - ₹ 12,00,000 per year

**‪ Job Description: Costing Engineer – Casting & Machining

Position Title: Costing Engineer – Casting & Machining

Department: Engineering / Product Development

Reports To: Head – Strategic Sourcing

Job Location: Bangalore

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Job Summary

We are looking for a skilled Costing Engineer – Casting & Machining to join our Engineering / Product Development team. The role involves preparing accurate cost estimates for casted and machined components, analyzing raw materials, labor, tooling, and process costs, and ensuring competitive pricing strategies. The ideal candidate should have strong expertise in casting processes, machining operations, and cost management. This position requires close collaboration with Design, Production, Procurement, and Finance teams to drive cost efficiency and support new product development (NPD) as well as existing projects.

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Key Responsibilities

  1. Cost Estimation & Analysis


• Prepare cost estimates for ferrous & non-ferrous castings and machined components for NPD and ongoing projects.


• Develop cost models for casting processes (Sand, GDC, PDC, Investment Casting) and machining (Bar Stock, Fabrication).


• Provide cost breakdowns covering raw materials, labor, processing, machine time, tooling, and overheads.


• Collaborate with design/production teams to optimize specifications and reduce costs.


• Benchmark supplier quotations from foundries and machine shops with internal cost models.

  1. Data Management


• Maintain historical costing data and detailed cost models for future reference.


• Update cost databases with the latest material and market pricing.


• Compare actual procurement costs with estimates to identify cost-saving opportunities.

  1. Cost Control & Optimization


• Recommend cost-saving initiatives without compromising quality.


• Support production teams in reducing waste and improving efficiency.


• Suggest alternate methods, processes, or materials for cost reduction.

  1. Collaboration & Reporting


• Coordinate with Finance and Purchasing for accurate budget integration.


• Support customer pricing strategies and quotations.


• Prepare variance reports, highlight key cost drivers, and suggest corrective measures.

  1. Tooling & Equipment Costing


• Estimate costs for tooling, molds, and equipment.


• Evaluate tooling amortization based on volumes and recommend cost-effective options.

  1. Supplier & Material Management


• Source and validate raw material and consumable cost data.


• Negotiate with suppliers for better pricing and alternative solutions.


• Recommend material substitutions that reduce costs while meeting quality standards.

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Required Qualifications & Skills


• Education: Bachelor's in Mechanical / Metallurgical / Industrial Engineering, Materials Science, or related field.


• Experience: 3–5 years in cost estimation within casting, machining, or manufacturing industry.


• Strong knowledge of casting processes (Sand, Die, Investment) and machining operations.


• Experience with foundries, OEMs, or forging cost estimation.


• Proficiency in MS Excel / cost analysis tools.


• Strong understanding of material, labor, and overhead cost structures.


• Good communication and negotiation skills.


• Ability to work under pressure and meet deadlines.

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Preferred Qualifications


• Experience in Automotive, Aerospace, or Heavy Manufacturing sectors.


• Exposure to Foundry New Product Development (NPD).**

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