Cost Manager

Cost Manager

Eligibility Criteria:

• Years of Exp : Min 8~12 yrs in commodity management in Engg / Manufacturing Industry

Job Experience:

• Commodity Mgmt, Commercial Negotiations, Costing and familiarity with Semiconductor, Automotive, Electrical Equipment Manufacturing or high-technology supply management practices, standards and organizations.
• Business & technical understanding of Manufacturing & Assembly processes related to Mechanical, Electrical Components such as Fittings, Tubing, Valves, Regulators, MFCs, Weldments, Machining, OEMs Proprietary etc

Educational: BE/B.Tech in Mechanical / Electrical / Industrial Engg. MBA will be an added advantage.

Primary Responsibilities:

• Responsible for establishing & Driving Commercial Strategic commodity vision, evaluating supplier cost & managing relationship to drive projects to achieve goals of global cost efficiency.
• Determine cost targets during design & development phase, recommending cost effective solutions. Investigate and identify cost reduction opportunities. Ensure smooth and cost effective transition.
• Establish costing of products, production & assembly processes, tooling costs and review alternatives. Put forward recommendations for improvement. Use Zero based costing /cost breakdowns.
• Negotiate cost increase from suppliers related to RM , Process, Labor & other input cost to mitigate impact
• Utilize cost methodologies, appropriate tools & software models & packages to prepare and maintain reliable and accurate data. Contribute to cost monitoring and reporting systems and procedures and monitor trends
• Assess cost effectiveness of products & track actual costs relative to targets & report status on a regular basis to ensure costs are in line with forecasts.
• Research and analyze various commodities for function to price and price to cost evaluation.
• Continuously scan markets & global landscape to explore and evaluate strategic & cost-effective suppliers.
• Evaluate new suppliers considering their organization capabilities, Technology expertise, Production capabilities, Financial performance, customer orientation & Supply chain robustness.
• Works cross-functionally with Engineering, Sourcing, manufacturing, Procurement, finance, & product support
• Coordinate with finance/accounting for inventory, cost savings & cash flow management.
• Define & monitor metrics in line with AOP objectives relative to supplier cost performance, monitor against the expectations to ensure continuous improvement; then drives team to address and close gaps to meet objectives.
• Provide inputs to Commodity Sourcing strategy to deliver best cost targets.
• Supplier Performance Management through Score cards and other related parameters.
• Encourage and coordinate early supplier involvement on new product designs using the suppliers expertise to optimize cost and manufacturability.
• Strong Negotiation skills. Manage commodity spend by Negotiation/Mitigation of Price increases. Plan & Execute cost reduction strategies through Negotiations, Material cost reductions, Alternate sourcing, technology changes.

Mandatory Skills & Requirement:

• Raw material indexation (LME, SME (Knowledge of Raw material grades), scrap cost)
• Knowledge of zero-based cost model / Cost breakdown.
• Understanding of component cost structure (Fixed, variable cost, Industry benchmark for overhead and profit)
• Machine hour rate calculations. Cost of Capital. Inventory carrying cost
• Labor rates across globe. (Min wages, skilled, unskilled manpower rates, payroll, contract)
• Packaging cost calculation & transportation cost estimates.
• Special process cost estimates (Powder coating, painting, plating, passivation, cleaning) welding, laser cutting etc.
• Market benchmarking
• Proven ability to gain partnerships & excel in working & leading in a cross-functional environment with NPI, Product Development, manufacturing, quality as well as procurement, finance, and product support.
• PowerPoint and presentation skills.
• Proven experience of strong analytical and problem-solving skills with history of successful resolution
• Exhibit attention to detail, sense of urgency and ability to handle multiple tasks in fast paced environment

Desirable Skills & Requirement:

• Proficient in Data Analytics & Presentation Skills
• Six sigma green belt or above is a plus