Costing Engineer

Role Overview:

-The Costing Engineer will be responsible for preparing accurate cost estimates for material handling equipment, fabrication items.

-installation works, and related engineering projects. The role requires solid understanding of mechanical & electrical drawings.

-manufacturing processes, BOM-based costing, market price benchmarking, and project budgeting. The individual will collaborate with.

-Design, Procurement, Production, and Sales to ensure cost competitiveness and profitability.

Key Responsibilities:

1. Product & Project Costing:

-Develop detailed cost estimates for material handling equipment and engineered components.

-Evaluate Bill of Materials (BOM) against current market pricing and vendor quotations.

-Analyze material consumption, process times, and manufacturing cost variables to arrive at accurate cost projections.

2. Drawing & Specification Study:

-Interpret mechanical and electrical drawings, GA drawings, fabrication drawings, and technical specifications.

-Identify material requirements, fabrication processes, machining needs, assembly operations, and electrical component selection based on drawings.

3. Market Evaluation:

-Conduct market research for raw materials, bought-out items, electrical components, and fabrication elements.

-Benchmark vendor and subcontractor pricing to maintain competitive and realistic cost structures.

-Maintain updated cost databases for materials, consumables, and standard equipment.

4. Process & Manufacturing Cost Assessment:

-Evaluate costs associated with powder coating, painting, fabrication, machining, welding, surface treatment, and other manufacturing processes.

-Calculate man-hours, machine operating costs, overheads, tooling costs, and quality cost implications.

-Validate internal and subcontracting cost sheets and negotiate cost benchmarks where required.

5. Installation Costing & Budgeting:

-Estimate site installation costs including manpower, consumables, logistics, tools, and safety requirements.

-Prepare project cost budgets, installation schedules, and feasibility cost reports.

-Support project planning teams with installation cost inputs and budgetary estimations.

6. Cost Control & Optimization:

-Recommend cost reduction methods through design optimization, material substitution, and process improvements.

-Support procurement in vendor evaluations and negotiations from a cost analysis perspective.

-Provide costing support during technical and commercial bidding

7. Documentation & Reporting:

-Prepare costing sheets, price models, budgetary reports, and process cost summaries.

-Present comparison of estimated vs. actual costs and identify cost variances.

-Maintain standardized costing templates, guidelines, and cost libraries

Required Skills & Competencies:

-Strong knowledge of material handling equipment manufacturing processes.

-Ability to read and interpret detailed mechanical and electrical engineering drawings.

-Good understanding of fabrication methods, machining, surface treatments, powder coating, and painting processes.

-Expertise in BOM preparation, price benchmarking, and market rate analysis.

-Familiarity with installation activities, manpower estimates, and project budgeting.

-Proficiency in MS Excel or costing software (ERP experience preferred).

-Analytical mindset with strong attention to detail.

-Good communication and coordination skills across design, procurement, and production functions.

alary and Benefits:

-Salary and benefits will be commensurate with experience level of the candidate and according to the objectives reached.