Costing Engineer

Key Responsibilities

Costing & Analysis:

• Perform detailed cost calculations for new development parts using bottom-up methodologies.
• Analyze material, process, and overhead costs across commodities including Aluminium Castings, Iron Castings, Rubber & Plastics, Machining, Forging, and Sheet Metal.
• Conduct tool costing for die casting, injection molding, and other relevant tooling technologies using parametric and 3D-based models and methods.
• Utilize cost analysis software such as Siemens Teamcenter Product Cost Management (TcPCM) for integrated costing.
• Conduct continuous market research to stay updated on raw material indexes, equivalent alternative materials, efficient manufacturing equipment, and cost-effective technologies.
• Develop and maintain cost breakdown structures (CBS)
• Validate supplier quotations through process time studies and machine-hour rate verification.
• Perform cost sensitivity and variance analysis to identify key cost drivers and potential savings opportunities.
• Support make-or-buy and localization decisions through total cost of ownership (TCO) assessments.

Value Engineering & Cost Optimization:

• Lead and facilitate VAVE (Value Analysis/Value Engineering) workshops internally and with suppliers.
• Identify and evaluate cost-saving opportunities through design, specification, and process modifications.
• Evaluating & analyzing high spend parts and implement cost improvement actions.
• Involvement in working on supplier price increases demands and provide data-driven validations
• Conduct benchmarking and teardown analysis of competitor components to establish target costs and identify improvement areas.

Governance:

• Act as a governance authority for costing approvals.
• Collaborate with international and regional colleagues to align cost strategies and compliance.
• Engage in commercial discussions internally and negotiations with suppliers, ensuring best-cost approaches.
• Focus and emphasis on sustainable manufacturing practices and adoption of low-carbon emission methods to achieve cost and environmental efficiency.
• Support supplier development programs by evaluating manufacturing efficiency and process capability.
• Develop and adhere to standardized cost templates and costing guidelines.

Collaboration & Travel:

• Work closely with cross-functional teams including Engineering, Purchasing, and Supplier Development & Quality.
• Willingness to travel domestically (approx. 30%) for supplier visits and workshops.
• International Travel (approx. 10%) for conferences & collaboration workshops.

Qualifications:

• Bachelors degree in Mechanical/ Automotive Engineering or equivalent.
• 812 years of experience in cost engineering, preferably in Automotive or Manufacturing sectors.
• Strong knowledge of manufacturing processes and tooling technologies.
• Experience with Siemens TcPCM or similar cost analysis tools.
• Good communication and analytical skills.
• Proven ability to lead cost-saving initiatives and cross-functional workshops.
• Familiarity with Lean Six Sigma or other continuous improvement methodologies.
• Strong understanding of supply chain cost structures, cost impacts, and global sourcing trends.