Costing Engineer

Polycab; Vadodara; On-site; INR 500,000 - 700,000; Full time

Job summary

Polycab in Vadodara seeks a Costing Engineer responsible for estimating product costs and analyzing cost structures. The role involves collaboration with engineering, procurement, and sales teams to ensure accurate evaluations of cost drivers.

Key tasks include preparing detailed cost estimates, supporting pricing decisions, and identifying cost optimization opportunities. Applicants should have a strong knowledge of costing methods, be proficient in Excel, and have ERP system experience.

Qualifications

• Strong knowledge of costing methods and product costing.
• Proficiency in Excel and data analysis required.
• Experience with ERP systems like SAP or Oracle.

Responsibilities

• Prepare detailed cost estimates for products and projects.
• Analyze raw material, labor, and operational costs.
• Support sales in price determination and provide cost inputs.

Skills

Costing methods (standard costing, activity-based costing)

BOM and product costing

Proficiency in Excel and data analysis

Experience with ERP systems (SAP, Oracle, etc.)

Job description

Job Purpose

The Costing Engineer is responsible for estimating product costs, analyzing cost structures, and supporting pricing decisions to ensure profitability. The role involves working closely with engineering, production, procurement, and sales teams to accurately evaluate material, labor, and overhead costs for products and projects.

Key Responsibilities

1. Cost Estimation & Analysis
   • Prepare detailed cost estimates for products, projects, and new enquiries.
   • Analyze raw material, labor, overheads, and operational costs.
   • Evaluate cost drivers and identify opportunities for cost optimization.
2. Product Costing
   • Develop and maintain standard costing models for products.
   • Calculate BOM (Bill of Materials) costs and validate accuracy.
   • Monitor variance between estimated vs actual costs and highlight deviations.
3. Pricing Support
   • Support sales and commercial teams in price determination.
   • Ensure pricing aligns with company margin expectations and market conditions.
   • Provide cost inputs for tenders, RFQs, and large commercial proposals.
4. Cross-functional Coordination
   • Collaborate with:
     • Engineering for product design inputs
     • Procurement for raw material costs
     • Production for manufacturing costs and cycle times
   • Support design-to-cost initiatives and value engineering efforts.
5. Cost Control & Optimization
   • Identify cost reduction opportunities and suggest improvements.
   • Participate in continuous improvement initiatives to enhance cost efficiency.
   • Track and review cost trends, especially for raw materials.
6. Documentation & Reporting
   • Maintain accurate costing records and documentation.
   • Prepare cost reports, margin analysis, and MIS reports for management.
   • Ensure compliance with internal costing policies and audit requirements.

Technical Skills

• Strong knowledge of:
  • Costing methods (standard costing, activity-based costing)
  • BOM and product costing
• Proficiency in Excel and data analysis
• Experience with ERP systems (SAP, Oracle, etc.)

Core Competencies

• Strong analytical and problem-solving skills
• Attention to detail and accuracy
• Good communication and coordination skills
• Commercial awareness and business acumen

Key Success Metrics

• Accuracy of cost estimates
• Improvement in product margins
• Timely completion of cost analysis
• Cost reduction initiatives implemented