Cost Analyst

Corning Inc.; Gurgaon; On-site; INR 800,000 - 1,500,000; Full time

Job summary

A leading global manufacturer is seeking a Cost Analyst in Gurgaon, India. The role requires 5+ years of experience in manufacturing costing and should-cost analysis. Responsibilities include developing cost models, performing TCO analysis, and assisting in negotiations with suppliers. The ideal candidate will possess a Bachelor's degree in mechanical engineering and strong skills in advanced Excel and data analysis tools. This position offers a dynamic opportunity to drive cost efficiency within the purchasing and supply chain teams.

Qualifications

• 5+ years of experience in manufacturing costing, should-cost analysis, TCO analysis, or cost engineering.
• Strong understanding of manufacturing processes and their cost drivers.
• Hands-on experience with material pricing and process-based costing.

Responsibilities

• Develop and maintain detailed product cost models.
• Perform should-cost analysis for various manufacturing processes.
• Provide cost insights for supplier negotiations.

Skills

Manufacturing costing

Should-cost analysis

TCO analysis

Cost engineering

Advanced Excel

Data analysis tools

Education

Bachelor’s degree in mechanical engineering

Tools

Power Query

Power BI

ERP systems

Job description

Scope of position

We are seeking an experienced Cost Analyst with a strong engineering background and 5+ years of hands‑on experience in product costing, should‑cost analysis, material pricing, manufacturing process cost evaluation, and Total Cost of Ownership (TCO) analysis. The role will primarily support the purchasing and supply chain teams by creating and maintaining detailed cost models, assisting with supplier negotiations, and driving cost reduction initiatives. The ideal candidate should possess a deep understanding of manufacturing processes, engineering principles, and cost drivers.

Position Responsibilities

• Develop and maintain detailed product cost models.
• Perform should‑cost analysis for parts, assemblies, and manufacturing processes.
• Provide cost insights and detailed breakdowns to assist the purchasing team in supporting supplier negotiations and sourcing decisions.
• Benchmark costs against industry standards, market trends, and competitor data.
• Conduct TCO analysis to evaluate the complete lifecycle cost of goods and services.
• Evaluate supplier cost structures and identify areas for potential cost reductions.
• Analyze raw material pricing trends (metals, plastics, composites, etc.) and assess their impact on product costs.
• Estimate cycle times, labor content, machine rates, scrap, yield losses, and overhead absorption to optimize cost models.
• Support make‑vs‑buy decisions.
• Participate in value engineering and value analysis (VE/VA) workshops to improve cost efficiency.
• Track and report cost‑saving initiatives, ensuring alignment with financial targets.

Required Skills

1. 5+ years of experience in manufacturing costing, should‑cost analysis, TCO analysis, or cost engineering.
2. Strong understanding of manufacturing processes such as machining, casting, molding, welding, chemical processing, and assembly, along with their cost drivers.
3. Hands‑on experience with material pricing, BOM (Bill of Materials) costing, and process‑based costing.
4. Proficiency in advanced Excel, Power Query, and other data analysis tools.
5. Ability to interpret engineering drawings, specifications, and BOM structures.
6. Bachelor’s degree in mechanical engineering, industrial engineering, manufacturing engineering, or a related field.

Desired Skills

1. Experience in automotive, industrial, or electronics manufacturing industries.
2. Exposure to lean manufacturing, Six Sigma methodologies, or cost optimization projects.
3. Knowledge of global sourcing and commodity markets.
4. Certification in Cost Engineering, CMA, or equivalent.
5. Familiarity with Power BI for reporting and visualization.
6. Familiarity with ERP systems and costing software.

Soft Skills

• Strong analytical and problem‑solving abilities.
• Excellent communication and interpersonal skills to collaborate effectively with suppliers and cross‑functional teams.
• Commercial and business acumen.
• Data‑driven decision‑making and attention to detail.