Cost Estimation and Analysis:
Develop detailed cost estimates for new and existing products, projects, and processes.
Analyze production costs and recommend cost-effective solutions.
Create cost models and scenarios to support decision-making processes.
Budgeting and Forecasting:
Assist in preparing budgets and financial forecasts.
Monitor actual costs versus budgeted costs and analyze variances.
Provide cost forecasts and project financial projections.
Data Collection and Management:
Gather and maintain cost data from internal and external sources.
Ensure accuracy and integrity of cost data.
Utilize ERP systems and other software tools for cost management.
Cost Control and Optimization:
Identify and implement cost reduction opportunities.
Collaborate with engineering and manufacturing teams to optimize processes and reduce costs.
Monitor and report on cost control initiatives.
Reporting and Documentation:
Prepare and present detailed cost reports and analysis to management.
Maintain comprehensive documentation of cost estimates, assumptions, and methodologies.
Ensure compliance with company policies and industry standards.
Cross-Functional Collaboration:
Work closely with engineering, production, procurement, and finance teams to ensure accurate cost assessments.
Support project teams with cost-related information and analysis.
Participate in project reviews and provide cost-related insights.
Stay updated on industry trends and cost engineering best practices.
Participate in continuous improvement initiatives to enhance costing accuracy and efficiency.
Train and mentor junior staff on cost estimation techniques and tools.
* The salary benchmark is based on the target salaries of market leaders in their relevant sectors. It is intended to serve as a guide to help Premium Members assess open positions and to help in salary negotiations. The salary benchmark is not provided directly by the company, which could be significantly higher or lower.