Costing Executive

Role & responsibilities

• Cost Estimation and Analysis:

• Prepare accurate cost estimates for the manufacturing of products, including material costs, labor costs, overhead costs, and any other cost factors.
  
• Analyze historical cost data, current market conditions, and supplier quotations to derive cost-effective solutions.
  
• Continuously monitor cost trends and provide cost forecasts to management.
  

• Collaboration with Production & Procurement Teams:

• Work closely with the production and procurement departments to understand the technical requirements and sourcing needs of materials and components.
  
• Liaise with suppliers to obtain cost quotes for raw materials, components, and outsourced processes.
  
• Evaluate production methods and propose improvements to reduce manufacturing costs without compromising product quality.
  

• Bill of Materials (BOM) Management:

• Develop and maintain accurate Bill of Materials (BOM) for each product, ensuring that all components and their associated costs are included.
  
• Monitor and update BOMs based on changes in product design, materials, and manufacturing processes.
  

• Cost Modeling:

• Utilize cost estimation software/tools to create detailed cost models for manufacturing products.
  
• Identify key cost drivers and prepare cost breakdowns to determine the most cost-effective production methods.
  

• Product Pricing:

• Support the pricing team by providing detailed cost information that will inform product pricing decisions.
  
• Assist in cost reviews and adjustments based on production schedules, market conditions, and financial objectives.
  

• Reporting and Documentation:

• Prepare detailed cost estimation reports and presentations for management, highlighting key cost components and areas for potential savings.
  
• Maintain accurate and up-to-date records of all cost estimates, quotations, and supplier agreements.
  

• Continuous Improvement:

• Continuously evaluate the efficiency of the cost estimation process and recommend improvements.
  
• Monitor industry trends, best practices, and new technologies that can impact cost estimation and manufacturing efficiency.
  

• Cross-Functional Communication:

• Communicate effectively with other departments, including engineering, finance, production, and quality control, to ensure that cost estimates align with operational capabilities and business objectives.
  
• Address any discrepancies or challenges in cost estimates and resolve them promptly.
  

Preferred candidate profile