Job
Description
Position Title: Executive/Senior Executive Product Costing Department: Costing / Estimation Location: Mumbai Company: Spectrum Electrical Industries Limited Experience Required: 3–6 years in product costing, cost estimation, and manufacturing cost analysis Qualification: Diploma / B.E. / B.Tech in Mechanical / Production Engineering (Added advantage: PGD in Costing, MBA in Operations, or Value Engineering Certification) About the Role: We are seeking a technically skilled and detail-oriented Product Costing Executive to support cost estimation and pricing strategies for various manufacturing verticals, including Sheet Metal Fabrication, Powder Coating, Assembly, Electroplating, Molding, and Wiring Devices . This role requires close collaboration with Engineering, Design, Planning, Procurement, and Production teams to build accurate and competitive cost structures for products, RFQs, and new projects. Key Responsibilities: 1. Product Cost Estimation Prepare detailed costing sheets for new and existing products based on BOM, process flow, and operation time. Analyze material cost, processing cost, manpower requirement, and machine usage for cost projections. Create and maintain a standard costing library for frequently quoted parts and assemblies. 2. Technical Cost Breakdown Break down costs into direct materials, direct labor, subcontracting, machine hours, and overheads. Interpret technical drawings and convert them into manufacturable process routes with cost inputs. Evaluate customer drawings/specifications and generate quotation costing for RFQs and tenders. 3. Coordination with Cross-Functional Teams Collaborate with Design/Tooling for feasibility and cost impact of molds, dies, jigs & fixtures. Work with the Procurement team to update raw material rates, BOP costs , and vendor-supplied components. Coordinate with Production & Planning for actual process cycle times and optimize cost assumptions. 4. Cost Optimization & Value Engineering Suggest cost reduction strategies through alternate materials, process changes, and in-house capability utilization. Participate in VA/VE initiatives to achieve targeted cost-to-price ratios. Benchmark costs across vendors and internal process capabilities. 5. Quotation & Pricing Support Support the Sales/Business Development team with timely and accurate cost inputs for quotations . Build profitability models using margin analysis for high-volume and new customer inquiries. Ensure pricing aligns with organizational profitability and competitiveness. 6. Database & System Maintenance Maintain a costing master database covering process norms, standard rates, and resource cost indexes. Utilize ERP and internal costing systems for data management (e.g., SAP, Excel-based macros). Ensure proper version control and documentation of all cost sheets and approvals. Required Technical Skills: Reading and interpreting engineering drawings (2D & 3D). Familiarity with sheet metal operations (laser cutting, bending, welding), powder coating, and assembly costing. Sound knowledge of fabrication and assembly process parameters (cycle time, takt time, utilization). Strong in MS Excel, costing templates, macros , and basic knowledge of ERP (preferably SAP or similar). Hands-on experience with routing, BOMs, and standard costing practices . Key Competencies: Attention to technical detail and logical cost interpretation Strong analytical and estimation skills Good communication and coordination abilities Proactive and deadline-oriented mindset Strategic thinking for cost competitiveness and business alignment Preferred Industry Background: Electrical Components (MCBs, DBs, Wiring Devices) Sheet Metal Fabrication & Assemblies Switchgear or Automotive Component Manufacturing
